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UnitLevel 1Undergraduate

ECB1101 Introductory microeconomics

Faculty of Business and Economics

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ECB1101 Introductory microeconomics is a level 1, 6-credit-point, undergraduate unit from the Faculty of Business and Economics, offered in 2022 in Semester 1 at Peninsula. It has no prerequisites and unlocks 32 units, leading on to 83 units in all.

Credit points
6
Offered in 2022
Semester 1
Peninsula
Assessment
Exam 60%
and 1 other task
Workload
144 hours
per semester

This is the 2022 handbook entry. See the 2027 entry.

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Requisites

Before ECB1101

Prohibitions

You can't enrol if you have passed any of these.

One of

After ECB1101

32 units list ECB1101 as a prerequisite or corequisite.

Show 24 more

Enrolment rules

To be successful in this unit, background knowledge and application of maths is required at the equivalent of VCE Year 11 level.  You may have satisfied this by completing relevant prerequisite unit/s, or you have covered relevant topics in your final years of secondary study.  You should self-assess your maths competency prior to enrolling in this unit.

Equivalent units

The same content under another code. Only one of them counts.

Overview

The unit introduces you to the study of economics from a microeconomic perspective. Fundamental principles of microeconomics will be applied to the analysis of consumer behaviour, demand and supply and the operation of markets, market efficiency and welfare, welfare effects of international trade, public sector economics, the behaviour of firms and the organisation of an industry, and market structures. This unit also discusses the reasons for economic regulation and competition policy.

Offerings in 2022

Teaching periodCampusMode
First semesterPeninsulaOn campus

Assessment

  • Within semester assessment
    40%
  • Examination
    60%

Learning outcomes

When you finish this unit, you should be able to:

  1. 1

    understand the theoretical foundations of economics, and the generic skills essential for progression to upper level units by applying rigorous thinking and understanding to analytical geometric models

  2. 2

    identify and explain economic systems and the concept of resource allocation, and the role of individuals and businesses in markets

  3. 3

    discuss the implementation of economic policy in a microeconomic framework, and the ability of economics as an evolutionary science to address the persistent social and economic problems confronted by society

  4. 4

    recognise regulatory and political environments and how they impact on business

  5. 5

    demonstrate in individual summative assessment tasks the acquisition of a comprehensive understanding of the topics covered in this unit.

Workload and teaching

  • Tutorials18 hours
  • Seminars4.5 hours
  • Lectures12 hours
  • Teaching approachActive learning

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. The unit requires on average three/four hours of scheduled activities per week. Scheduled activities may include a combination of teacher directed learning, peer directed learning and online engagement.

This unit engages you in actively applying your knowledge, skills and attributes in interactive, collaborative and reflective activities.

Contacts

Chief Examiners
Associate Professor Lionel Frost

Common questions

What are the prerequisites for ECB1101?

ECB1101 has no prerequisites, but enrolment rules apply.

What can I take after ECB1101?

ECB1101 is a prerequisite or corequisite for 32 units, including BFB2140, BFC2140, BFF2140, BFW2140, BFX2140 and ECB2731. Those lead on to 83 units in all.

When is ECB1101 offered?

In 2022, ECB1101 runs in Semester 1 at Peninsula.

How much work is ECB1101?

The handbook expects about 144 hours of study across the semester. No students have rated its difficulty yet.

Does ECB1101 have an exam?

Yes. The exam is worth 60% of the final mark, alongside 1 other task.

More details

Credit points
6
Level
1
Study level
Undergraduate
Faculty
Faculty of Business and Economics
Organisational unit
Department of Economics
Type
Coursework
EFTSL
0.125
Student contribution
SCA Band 4
Study abroad
Available
Handbook years
20202021202220232024202520262027