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.

SchoolLa Trobe Business School

Credit points15

Subject Co-ordinatorYuji Tamura

Available to Study Abroad/Exchange StudentsYes

Subject year levelYear Level 4 - UG/Hons/1st Yr PG

Available as ElectiveNo

Learning ActivitiesLecture, tutorial homework exercises & small assignments

Capstone subjectNo

Subject particulars

Subject rules

PrerequisitesECO1IQN AND ECO3CMF

Co-requisitesN/A

Incompatible subjectsN/A

Equivalent subjectsN/A

Quota Management StrategyN/A

Quota-conditions or rulesN/A

Special conditionsN/A

Minimum credit point requirementN/A

Assumed knowledgeN/A

Readings

Advanced microeconomic theory

Resource TypeRecommended

Resource RequirementN/A

AuthorG. A. Jehle & P. J. Reny

Year2011

Edition/Volume3e

PublisherFINANCIAL TIMES PRENTICE HALL

ISBN9780273731917

Chapter/article titleN/A

Chapter/issueN/A

URLN/A

Other descriptionN/A

Source locationN/A

Career Ready

Career-focusedNo

Work-based learningNo

Self sourced or Uni sourcedN/A

Entire subject or partial subjectN/A

Total hours/days requiredN/A

Location of WBL activity (region)N/A

WBL addtional requirementsN/A

Graduate capabilities & intended learning outcomes

Graduate Capabilities

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

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