MICROECONOMIC THEORY AND APPLICATIONS
ECO4MTA
2020
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 StudentsYes
Subject year levelYear Level 4 - UG/Hons/1st Yr PG
Exchange StudentsYes
Subject particulars
Subject rules
Prerequisites ECO3CMF & ECO1IQN
Co-requisitesN/A
Incompatible subjectsN/A
Equivalent subjectsN/A
Special conditionsN/A
Readings
| Resource Type | Title | Resource Requirement | Author and Year | Publisher |
|---|---|---|---|---|
| Readings | Advanced microeconomic theory, 3e | Recommended | G. A. Jehle & P. J. Reny, 2011 | FINANCIAL TIMES PRENTICE HALL |
Graduate capabilities & intended learning outcomes
01. Eplain the theory of rational individual choice under certainty and uncertainty, using mathematical symbols and diagrams.
- Activities:
- Lecture & Tutorial homework exercises
- Related graduate capabilities and elements:
- Inquiry and Analytical Skills (Critical Thinking,Creative Problem-solving,Inquiry/Research)
- Discipline -Specific Knowledge and Skills (Discipline-Specific Knowledge and Skills)
02. Use the theory of rational choice to analyse individual demand and supply in the non-strategic environment.
- Activities:
- Lecture & Tutorial homework exercises
- Related graduate capabilities and elements:
- Inquiry and Analytical Skills (Critical Thinking,Creative Problem-solving,Inquiry/Research)
- Discipline -Specific Knowledge and Skills (Discipline-Specific Knowledge and Skills)
03. Distinguish between different game-theoretic frameworks based on the time-frame and informational characteristics of the strategic interaction(s) under consideration.
- Activities:
- Lecture & Tutorial homework exercises
- Related graduate capabilities and elements:
- Inquiry and Analytical Skills (Critical Thinking,Creative Problem-solving,Inquiry/Research)
- Discipline -Specific Knowledge and Skills (Discipline-Specific Knowledge and Skills)
04. Predict potential outcomes by game-theoretically modelling situations that you come across.
- Activities:
- Lecture, Tutorial homework exercises & Small assignments
- Related graduate capabilities and elements:
- Inquiry and Analytical Skills (Critical Thinking,Creative Problem-solving,Inquiry/Research)
- Inquiry and Analytical Skills (Critical Thinking,Creative Problem-solving,Inquiry/Research)
- Discipline -Specific Knowledge and Skills (Discipline-Specific Knowledge and Skills)
05. Explain the importance of information for individual decision making and theoretical predictions
- Activities:
- Lecture, Tutorial homework exercises & Small assignments
- Related graduate capabilities and elements:
- Inquiry and Analytical Skills (Critical Thinking,Creative Problem-solving,Inquiry/Research)
- Discipline -Specific Knowledge and Skills (Discipline-Specific Knowledge and Skills)
06. Synthesize the arguments in microeconomic theory papers in the process of reviewing the literature for your academic/practical work
- Activities:
- Small assignments
- Related graduate capabilities and elements:
- Inquiry and Analytical Skills (Critical Thinking,Creative Problem-solving,Inquiry/Research)
- Inquiry and Analytical Skills (Critical Thinking,Creative Problem-solving,Inquiry/Research)
- Discipline -Specific Knowledge and Skills (Discipline-Specific Knowledge and Skills)
Subject options
Select to view your study options…
Melbourne, 2020, Semester 1, Day
Overview
Online enrolmentYes
Maximum enrolment sizeN/A
Enrolment information
Subject Instance Co-ordinatorYuji Tamura
Class requirements
Lecture
Week:
10
-
22
One 2.0 hours lecture per week
on weekdays
during the day
from week 10 to week 22
and delivered via face-to-face.
Tutorial
Week:
11
-
22
One 1.0 hours tutorial per week
on weekdays
during the day
from week 11 to week 22
and delivered via face-to-face.
Assessments
| Assessment element | Comments | % | ILO* |
|---|---|---|---|
| Tutorial based assignments (2500 words) | For each tutorial, there is a set of exercises. Students are expected to do the exercises and prepare their answers before coming to the tutorial. Preparation for selected exercises is assessed. As the answers to the exercises are discussed in the tutorial, students get face to face feedback. Individual feedback is given when group discussion did not touch on individually specific aspects of prepared answe | 50 | 01, 02, 03, 04, 05, 06 |
| One two-hour final examination (equivalent to 2000 words) | 50 | 01, 02, 03, 04, 05 |