ECC5650 Microeconomic theory
Faculty of Business and Economics
ECC5650 Microeconomic theory is a level 5, 6-credit-point, postgraduate unit from the Faculty of Business and Economics, offered in 2023 in Semester 1 at Clayton. It has no prerequisites.
- Credit points
- 6
- Offered in 2023
- Semester 1
- Clayton
- Assessment
- Exam 60%
- and 1 other task
- Workload
- 144 hours
- per semester
This is the 2023 handbook entry. See the 2027 entry.
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Requisites
Before ECC5650
No prerequisites or corequisites besides the enrolment rules below.
After ECC5650
No unit lists ECC5650 as a prerequisite in the 2023 handbook.
Enrolment rules
You must be enrolled in course 3194 to undertake this unit. If you are enrolled in B6030 you can enrol in this unit upon written permission from the Course Director of B6030.
Equivalent units
The same content under another code. Only one of them counts.
Overview
Neoclassical theories of demand, supply, and equilibrium at a level that permits rigorous analysis. Topics include the existence theorem of utility functions, properties of demand and supply functions, dynamic choice for producers and consumers, risk and uncertainty in competitive markets, and the existence and optimality of competitive equilibrium.
Offerings in 2023
| Teaching period | Campus | Mode |
|---|---|---|
| First semester | Clayton | On campus |
Assessment
- Within semester assessment40%
- Examination60%
Learning outcomes
When you finish this unit, you should be able to:
- 1
gain a deeper understanding of microeconomic analysis acquired during undergraduate training
- 2
undertake rigorous analysis of microeconomic issues, including the determinants of relative prices and their effects on resource allocation
- 3
learn some more advanced analyses going beyond the traditional model and taking account of some real-world complications
- 4
acquire proficiency in handling optimisation problems and have a basic understanding of general equilibrium analysis.
Workload and teaching
- Tutorials12 hours
- Lectures24 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
- Professor Zhijun Chen
Common questions
What are the prerequisites for ECC5650?
ECC5650 has no prerequisites, but enrolment rules apply.
When is ECC5650 offered?
In 2023, ECC5650 runs in Semester 1 at Clayton.
How much work is ECC5650?
The handbook expects about 144 hours of study across the semester. No students have rated its difficulty yet.
Does ECC5650 have an exam?
Yes. The exam is worth 60% of the final mark, alongside 1 other task.