ECF1100: Microeconomics
Faculty of Business and Economics
Check the Handbook for the latest unit information.
Overview
This unit provides you with an introduction to microeconomics. You will be given the tools to understand basic economic ideas and to apply their learning to analyse economic applications in everyday life. It begins with an introduction to supply and demand and the basic forces that determine an equilibrium in a market economy. Next, it introduces a framework for learning about consumer behaviour and analysing consumer decisions. We then turn our attention to firms and their decisions about optimal production, and the impact of different market structures on firms' behaviour. The final section of the unit provides an introduction to some of the more advanced topics that can be analysed using microeconomic theory, including consumer choice, game theory and behavioural economics.
Assessment
1 - Within semester assessment - 50% 2 - Examination - 50%
Workload
Minimum total expected workload to achieve the learning outcomes for this unit is 144 hours per semester typically comprising a mixture of scheduled learning activities and independent study. Independent study may include associated readings, assessment and preparation for scheduled activities. You are expected to complete all pre-class activities prior to your scheduled class, and post-class activities should be completed after your scheduled class. Learning activities may include a combination of teacher directed, peer directed and online engagement activities.
