ECC5900 Microeconomics
Faculty of Business and Economics
ECC5900 Microeconomics is a level 5, 6-credit-point, postgraduate unit from the Faculty of Business and Economics, offered in 2027 in Semester 1 and Semester 2 at Clayton. It has no prerequisites and unlocks 11 units.
- Credit points
- 6
- Offered in 2027
- Semester 1, Semester 2
- Clayton
- Assessment
- Exam 30%
- and 3 other tasks
- Workload
- 144 hours
- per semester
Reviews
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Requisites
Before ECC5900
Prohibitions
You can't enrol if you have passed any of these.
After ECC5900
11 units list ECC5900 as a prerequisite or corequisite.
- ECC5670Economics of developing countriesNo reviews yet
- ECC5740Economics of financial decision makingNo reviews yet
- ECC5871Political economy: Institutions, order and evidenceNo reviews yet
- ECF5040Industry economicsNo reviews yet
- ECF5060Applied economics research and consultingNo reviews yet
- ECF5200Game theory and business strategyNo reviews yet
- ECF5410Applied microeconomicsNo reviews yet
- ECX5001Economics of environment and sustainabilityNo reviews yet
Overview
This unit develops understanding of individual decision making in consumption and production. It introduces theory of consumer choice, including applications to income-leisure choice. In the theory of production, it develops the concept of allocative efficiency and implications for input pricing. Various market structures are analysed: competition, monopoly, monopolistic competition and oligopoly. The unit discusses market failures and relevant microeconomic policies.
Offerings in 2027
| Teaching period | Campus | Mode |
|---|---|---|
| First semester | Clayton | On campus |
| Second semester | Clayton | On campus |
Assessment
- Exercise20%
- Presentation20%
- Quiz / Test30%
- Examination30%
Assessment details may change. Please refer to the assessment information in Moodle closer to the start of the teaching period.
Learning outcomes
When you finish this unit, you should be able to:
- 1
understand how markets work, and how prices work to allocate resources
- 2
understand the basic principles of how people make economic decisions, how they interact economically, and how the economy as a whole works
- 3
understand the role of public policy, and the constraints on its operation, when markets fail
- 4
understand how firms are organised and make decisions
- 5
have developed learning skills and begun to acquire the techniques of thinking like an economist
- 6
have sufficient grounding to attempt advanced studies in microeconomics in subsequent years.
Workload and teaching
- Workshops22 hours
- Tutorials12 hours
- Assessments2 hours
- Teaching approachProblem-based learning
- 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. 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.
This unit includes problem-based learning approaches, where you engage in research, integrate theory and practice and apply knowledge and skills to develop viable solutions in response to a problem or set of problems.
This unit engages you in actively applying your knowledge, skills and attributes in interactive, collaborative and reflective activities.
Learning resources
Required resources
First semester: Intermediate Microeconomics, 9th International Student Edition (Media Update); Hal Varian, ISBN 9780393689891
Second semester: Microeconomics, Pindyck and Rubenfeld, Edition 9 or newer
Technology resources
There may be an additional cost associated with purchasing a physical and/or virtual calculator. Specific details will be provided in the Learning Management System by commencement of Orientation week.
Contacts
- Chief Examiners
- Dr Xiaodong Fan
- Dr Dyuti Banerjee
Common questions
What are the prerequisites for ECC5900?
ECC5900 has no prerequisites.
What can I take after ECC5900?
ECC5900 is a prerequisite or corequisite for 11 units, including ECC5670, ECC5740, ECC5871, ECF5040, ECF5060 and ECF5200.
When is ECC5900 offered?
In 2027, ECC5900 runs in Semester 1 and Semester 2 at Clayton.
How much work is ECC5900?
The handbook expects about 144 hours of study across the semester. No students have rated its difficulty yet.
Does ECC5900 have an exam?
Yes. The exam is worth 30% of the final mark, alongside 3 other tasks.