Applied Microeconomics

Course aim

To enable students to apply economic analysis to issues faced by individuals, firms, and policy makers, and guide them in using economic tools to resolve these real-world issues.

Course content

Detailed analysis of competitive markets and imperfectly competitive markets where firms have market power. Consumer and firm uncertainty about the future, limited and asymmetric information cases, and existence of externalities and public goods is studied in detail. Tools from Game Theory are extensively utilised for analysis. The theory is reinforced with contemporary real-world examples from Australia and rest of the world. Other topics to be covered are: firm strategy and performance, pricing strategy, auctions, advertising, research and development, competition policy and regulation.

Textbook(s)

Perloff, J, Smith, R & Round, D 2014, Microeconomics, Pearson, Australia

Prerequisite(s)

Nil

Corequisite(s)

Nil

Teaching method

Component	Duration
INTERNAL, CITY WEST
Workshop	3 hours x 13 weeks
EXTERNAL, CITY WEST, ONLINE
External	3 hours equiv x 13 weeks

Note: These components may or may not be scheduled in every study period. Please refer to the timetable for further details.

Assessment

Essay, Examination, Microeconomics Exercise

Fees

EFTSL*: 0.125
Commonwealth Supported program (Band 3)
To determine the fee for this course as part of a Commonwealth Supported program, go to:
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Fee-paying program for domestic and international students
International students and students undertaking this course as part of a postgraduate fee paying program must refer to the relevant program home page to determine the cost for undertaking this course.

Non-award enrolment
Non-award tuition fees are set by the university. To determine the cost of this course, go to:
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Not all courses are available on all of the above bases, and students must check to ensure that they are permitted to enrol in a particular course.

* Equivalent Full Time Study Load. Please note: all EFTSL values are published and calculated at ten decimal places. Values are displayed to three decimal places for ease of interpretation.