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 2023 in Semester 1 and Semester 2 at Clayton. It has no prerequisites and unlocks 10 units, leading on to 11 units in all.
- Credit points
- 6
- Offered in 2023
- Semester 1, Semester 2
- Clayton
- Assessment
- Exam 30%
- 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 ECC5900
Prohibitions
You can't enrol if you have passed any of these.
After ECC5900
10 units list ECC5900 as a prerequisite or corequisite.
- ECC5670Economics of developing countriesNo reviews yet
- ECC5690Economic developmentNo 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
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 2023
| Teaching period | Campus | Mode |
|---|---|---|
| First semester | Clayton | On campus |
| Second semester | Clayton | On campus |
| November teaching period | Clayton | Block on |
Assessment
- Within semester assessment70%
- Examination30%
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
- Seminars24 hours
- 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.
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
- Professor Nicholas Feltovich
- Dr Jackie So
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 10 units, including ECC5670, ECC5690, ECC5740, ECC5871, ECF5040 and ECF5060. Those lead on to 11 units in all.
When is ECC5900 offered?
In 2023, 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 1 other task.