Course overview
This course builds on microeconomic principles to provide tools for and deeper understanding of rigorous study and analysis of markets as mechanisms for coordinating the independent choices of individual economic agents. It uses rigorous analytical models to develop a foundation for evaluating consumer and producer decisions, the efficiency and equity implications of competition and other market structures, and a perspective on the appropriate role of government. Included are the study of consumer choice, production and cost, market structure, and market failure. This course has a strong emphasis on the mastery of theoretical concepts and analytical tools, with some applications to real world problems.
Course learning outcomes
- Frame economic problems using theoretical models of microeconomic behaviour
- Apply microeconomic models to design and evaluate solutions to practical economic issues and real-world scenarios
- Demonstrate a proficiency in utilising mathematical and graphical techniques as well as verbal presentation of microeconomic concepts
- Analyse and assess microeconomic policies implications, advantages and limitations
- Reflect on the nature and implications of assumptions and value judgments in microeconomic analysis, economics decisions, and policy
Degree list
The following degrees include this course