MICROECONOMIC THEORY AND APPLICATIONS

ECO4MTA

Not currently offered

Credit points: 15

Subject outline

In this subject you will examine the key principles of microeconomic theory at an advanced undergraduate level. It covers some of the most important topics, concepts and methods used in modern microeconomic analysis. These include theory of optimal choice, duality in consumer demand, choice under uncertainty, and noncooperative game theory. They will be discussed in socioeconomic applications.

School: La Trobe Business School (Pre 2022)

Credit points: 15

Subject Co-ordinator: Yuji Tamura

Available to Study Abroad/Exchange Students: Yes

Subject year level: Year Level 4 - UG/Hons/1st Yr PG

Available as Elective: No

Learning Activities: Lecture, Tutorial homework exercises & Small assignments

Capstone subject: No

Subject particulars

Subject rules

Prerequisites: ECO3CMF AND ECO1IQN

Co-requisites: N/A

Incompatible subjects: N/A

Equivalent subjects: N/A

Quota Management Strategy: N/A

Quota-conditions or rules: N/A

Special conditions: N/A

Minimum credit point requirement: N/A

Assumed knowledge: N/A

Learning resources

Advanced microeconomic theory

Resource Type: Book

Resource Requirement: Recommended

Author: G. A. Jehle & P. J. Reny

Year: 2011

Edition/Volume: 3e

Publisher: FINANCIAL TIMES PRENTICE HALL

ISBN: 9780273731917

Chapter/article title: N/A

Chapter/issue: N/A

URL: N/A

Other description: N/A

Source location: N/A

Career Ready

Career-focused: No

Work-based learning: No

Self sourced or Uni sourced: N/A

Entire subject or partial subject: N/A

Total hours/days required: N/A

Location of WBL activity (region): N/A

WBL addtional requirements: N/A

Graduate capabilities & intended learning outcomes

Graduate Capabilities

DISCIPLINE KNOWLEDGE AND SKILLS
INQUIRY AND ANALYSIS - Creativity and Innovation
INQUIRY AND ANALYSIS - Critical Thinking and Problem Solving
INQUIRY AND ANALYSIS - Research and Evidence-Based Inquiry

Intended Learning Outcomes

01. Explain the theory of rational individual choice under certainty and uncertainty, using mathematical symbols and diagrams.
02. Use the theory of rational choice to analyse individual demand and supply in the non-strategic environment.
03. Distinguish between different game-theoretic frameworks based on the time-frame and informational characteristics of the strategic interaction(sunder consideration.
04. Predict potential outcomes by game-theoretically modelling situations that you come across.
05. Explain the importance of information for individual decision making and theoretical predictions
06. Synthesise the arguments in microeconomic theory papers in the process of reviewing the literature for your academic/practical work
Subject not currently offered - Subject options not available.