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UnitLevel 1Undergraduate

ECF1100 Microeconomics

Faculty of Business and Economics

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ECF1100 Microeconomics is a level 1, 6-credit-point, undergraduate unit from the Faculty of Business and Economics, offered in 2027 in Semester 1 and Semester 2 at Caulfield. It has no prerequisites and unlocks 33 units, leading on to 77 units in all.

Credit points
6
Offered in 2027
Semester 1, Semester 2
Caulfield
Assessment
Exam 50%
and 2 other tasks
Workload
144 hours
per semester

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Requisites

Before ECF1100

Prohibitions

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

One of

After ECF1100

33 units list ECF1100 as a prerequisite or corequisite.

Show 25 more

Enrolment rules

If you are enrolled in course B2007 you cannot undertake this unit.

To be successful in this unit, background knowledge and application of maths is required at the equivalent of VCE Year 12 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

This unit provides you with an introduction to microeconomics. You will be given the tools to understand basic economic ideas and to apply their learning to analyse economic applications in everyday life. It begins with an introduction to supply and demand and the basic forces that determine an equilibrium in a market economy. Next, it introduces a framework for learning about consumer behaviour and analysing consumer decisions. We then turn our attention to firms and their decisions about optimal production, and the impact of different market structures on firms’ behaviour. The final section of the unit provides an introduction to some of the more advanced topics that can be analysed using microeconomic theory, including consumer choice, and game theory.

Offerings in 2027

Teaching periodCampusMode
First semesterCaulfieldOn campus
Second semesterCaulfieldOn campus

Assessment

  • Exercise
    20%
  • Quiz / Test
    30%
  • Examination
    50%

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. 1

    evaluate the 'economic way of thinking' about a broad range of individual, business and government choices and decisions

  2. 2

    apply economic principles to evaluate economic institutions, economic decisions and performance

  3. 3

    recognise regulatory and political environments and how they impact on business.

Workload and teaching

  • Workshops24 hours
  • Assessments1 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. 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 engages you in actively applying your knowledge, skills and attributes in interactive, collaborative and reflective activities.

Learning resources

Required resources

J. Gans, S. King, M. Byford and N. G. Mankiw, Principles of Microeconomics, 9th edition, Cengage, 2024

Where it fits

ECF1100 is part of 4 areas of study in the 2027 handbook.

Contacts

Chief Examiners
Dr Marco Lecci

Common questions

What are the prerequisites for ECF1100?

ECF1100 has no prerequisites, but enrolment rules apply.

What can I take after ECF1100?

ECF1100 is a prerequisite or corequisite for 33 units, including BFB2140, BFC2140, BFF2140, BFX2140, ECB2731 and ECB3143. Those lead on to 77 units in all.

When is ECF1100 offered?

In 2027, ECF1100 runs in Semester 1 and Semester 2 at Caulfield.

How much work is ECF1100?

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

Does ECF1100 have an exam?

Yes. The exam is worth 50% of the final mark, alongside 2 other tasks.

Which majors and minors include ECF1100?

ECF1100 is part of Digital economy; Economics and business strategy; and International business.

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