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 2020 in Semester 1 and Semester 2 at Clayton. It has no prerequisites and unlocks 5 units, leading on to 7 units in all.
- Credit points
- 6
- Offered in 2020
- Semester 1, Semester 2
- Clayton
- Assessment
- Exam 60%
- and 1 other task
- Workload
- 144 hours
- per semester
This is the 2020 handbook entry. See the 2027 entry.
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Requisites
Before ECC5900
Prohibitions
You can't enrol if you have passed any of these.
After ECC5900
5 units list ECC5900 as a prerequisite or corequisite.
Equivalent units
The same content under another code. Only one of them counts.
Overview
The behaviour of the economy is the result of a host of decisions made each day by millions of people. Prices and markets play a crucial role in economic behaviour, creating a system in which actions of individuals, guided by self-interest and without any central co-ordination or planning, create wealth for society as a whole. How individual workers, households and firms make decisions, and how they interact with each other, is the subject of microeconomics.
Offerings in 2020
| Teaching period | Campus | Mode |
|---|---|---|
| First semester | Clayton | On campus |
| Second semester | Clayton | On campus |
Assessment
- Within semester assessment40%
- Examination60%
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
- Lectures24 hours
- Tutorials12 hours
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.
Learning resources
Required resources
Microeconomic Theory: Basic Principles and Extensions, by Nicholson and Snyder. 11th or 12th edition
Contacts
- Chief Examiners
- Dr Xiaodong Fan
- Professor Nicholas Feltovich
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 5 units, including ECC5690, ECF5040, ECF5060, ECF5200 and ECF5410. Those lead on to 7 units in all.
When is ECC5900 offered?
In 2020, 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 60% of the final mark, alongside 1 other task.