This class covers some of the more basic concepts of game theory before going on to apply it to firm behaviour in oligopolies.  The second half of the course will address welfare economics in more detail than ECON1101 and will apply this to the analysis of choice under uncertainty and intertemporal consumption decisions.   It is designed as a first undergraduate course in these areas. Students are expected to have some "mathematical maturity", as the concepts will be explained via abstract mathematical models and examples.  The course is designed for better performing students who want to extend their exposure to economics beyond that offered in the standard first year courses in microeconomics and macroeconomics.

After taking the course ECON1100 students are able to calculate the Nash Equilibria of various games and understand how these concepts can be usefully applied to the study of economics.  They will have a greater appreciation of how economics assesses community welfare and how utility theory can be used to analyse individual decisions.  Finally, students will gain an appreciation of the sorts of models and methods used in later year economics courses.

Assessment will be based on class problem sets (25%) a mid-semester exam (25% redeemable) and a final exam (50% or 75%).

Lectures and tutorials as for ECON1102 Macroeconomics 1 plus two additional contact hours per week.

ECON1101 Microeconomics 1.

Incompatible with ECON 1001/1011 Economics I (P or H) and ECON 1102 Macroeconomics 1

See Course Website:  http://ecocomm.anu.edu.au/courses/course.asp?code=ECON1100

See Course Website:  http://ecocomm.anu.edu.au/courses/course.asp?code=ECON1100

See Course Website:  http://ecocomm.anu.edu.au/courses/course.asp?code=ECON1100

This course may be taken as an alternative to ECON1102 Macroeconomics 1 and satisfies all prerequisites that would be satisfied by that course.

For further information please refer to http://ecocomm.anu.edu.au/courses/course.asp?code=ECON1100