This is an introductory course to Microeconomics. Microeconomics examines how consumers and firms make decisions and how they interact with each other in markets. This course aims to provide a solid understanding of basic microeconomic principles and the ability to apply these tools and ideas. Topics covered include supply and demand, the costs of production, market structure, international trade, and the efficiency and failure of markets. 

On successful completion of this course you will be able to:

• Demonstrate a solid understanding of "the economic way of thinking".
• Demonstrate a solid understanding of the principles of supply and demand, including consumer and firm behaviour.
• Demonstrate a solid understanding of market structure, performance and failure.
• Identify economic issues pertinent to particular markets and apply microeconomic theory to these issues.
• Present in written form arguments using both economic reasoning and actual evidence.

The assessment for this course has four components:

1. Examinable Tutorial Tests (10%)
2. Short Essay (15%)
3. Mid-Semester Exam (25% - redeemable)
4. Final Exam - (50% or 75%)

The course will be delivered over 13 weeks, involving a 2-hour lecture and a 1.5-hour tutorial each week. Students will also be expected to spend a minimum of six hours per week reading the textbook, revising lecture notes and preparing for tutorials.

Robert Frank, Sarah Jennings and Ben S. Bernanke, 2009, Principles of Microeconomics, McGraw Hill Australia

Delivery mode:

on campus, weekly based.