Microeconomic Analysis and Policy is a course in modern microeconomic theory at a Graduate Diploma level. It is designed for the dual purposes of giving students a solid grasp of basic microeconomic theory and a sound understanding of its potential applications in important policy areas such as price regulation, tax policy, and the environment. It addresses the broad methodological topics of consumption theory, production theory, theories of the competitive market, non-competitive markets, game theory, and general equilibrium theory.

On satisfying the requirements for this course, students will have the knowledge and skills to set-up and analyse microeconomic problems, to critically assess policy debates, and to enter Master level courses on microeconomics.

Problem solving is an integral part of the learning process in economics. Tutorial sheets will be distributed on a regular basis and solutions will be discussed in tutorials. Students should attempt the questions before attending the tutorial.

Assessment will involve two quizzes (10%), a mid-semester examination (30%), and a final examination (60%). All are closed-book.

3.5 contact hours per week, including 2.5 lecture hours and a one-hour tutorial.  Students are expected to study 6-7 hours a week outside of contact hours to complete the course.

Knowledge in calculus and optimisation are essential.

Nicholson, W. and C. Snyder (2008). Microeconomic Theory: Basic Principles and Extensions, 10^th edition, Cengage Learning.

Varian, H.R. (2010). Intermediate Microeconomics: A Modern Approach, 8th edition, New York, Norton.

Hoy, M., J. Livernois, C. McKenna, R. Rees and T. Stengos (2011). Mathematics for Economics, 3^rd edition, MIT Press.

There are a large number of microeconomics textbooks. Students are advised to find (at least) one that they like, and to read it.

The course will be delivered on campus, with material posted to the course Wattle site