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Advanced Microeconomics (ECON40001)
HonoursPoints: 12.5On Campus (Parkville)
About this subject
- Overview
- Eligibility and requirements
- Assessment
- Dates and times
- Further information
- Timetable(opens in new window)
Contact information
Semester 1
Overview
Availability | Semester 1 |
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Fees | Look up fees |
An introduction to advanced microeconomics and to the economics of information and strategic behaviour. Topics to be covered include decision making under uncertainty, the interaction of primal and dual methods of modelling producer and consumer behaviour, the existence and welfare properties of general equilibrium, the theory of market failure and public goods, models of strategic behaviour in oligopoly, an introduction to game theory.
Intended learning outcomes
- Understand and to be able to use the techniques of parametric optimisation, the envelope technique and duality as a basis for comparative statics
- Understand and to be able to use the fixed point theorems that are used in advanced microeconomics
- Understand and to be able to explain the structure of the standard competitive model using envelope and duality methods
- Be able to apply fixed point theorems to demonstrate existence of optima and equilibria in general equilibrium, game theory and dynamic programming
- Understand the mathematical concepts that underlie the envelope techniques and fixed point theorems that are used in advanced microeconomics.
Generic skills
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High level of development: problem solving; interpretation and analysis; critical thinking.
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Moderate level of development: collaborative learning; application of theory to practice; synthesis of data and other information; accessing data and other information from a range of sources; receptiveness to alternative ideas.
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Some level of development: written communication; team work.
Last updated: 3 November 2022
Eligibility and requirements
Prerequisites
Admission into BH-COM or BH-ARTS (Economics), Graduate Diploma in Economics, Master of Economics
or
Code | Name | Teaching period | Credit Points |
---|---|---|---|
ECON30010 | Microeconomics | Semester 1 (On Campus - Parkville) |
12.5 |
Corequisites
None
Non-allowed subjects
None
Recommended background knowledge
Please refer to Prerequisites and Corequisites.
Inherent requirements (core participation requirements)
The University of Melbourne is committed to providing students with reasonable adjustments to assessment and participation under the Disability Standards for Education (2005), and the Assessment and Results Policy (MPF1326). Students are expected to meet the core participation requirements for their course. These can be viewed under Entry and Participation Requirements for the course outlines in the Handbook.
Further details on how to seek academic adjustments can be found on the Student Equity and Disability Support website: http://services.unimelb.edu.au/student-equity/home
Last updated: 3 November 2022
Assessment
Additional details
- A 3-hour end-of-semester examination (60%;
- One 2-hour mid-semester test (20%); and
- Class assignments totalling not more than 2000 words (20%).
Note: Successful completion of this subject requires a pass (50%) in the final exam.
Last updated: 3 November 2022
Dates & times
- Semester 1
Principal coordinator Steven Williams Mode of delivery On Campus (Parkville) Contact hours Four hours of lectures, seminars and tutorials per week. Total time commitment 170 hours Teaching period 26 February 2018 to 27 May 2018 Last self-enrol date 9 March 2018 Census date 31 March 2018 Last date to withdraw without fail 4 May 2018 Assessment period ends 22 June 2018 Semester 1 contact information
Time commitment details
170 Hours
Last updated: 3 November 2022
Further information
- Texts
Prescribed texts
You will be advised of prescribed texts by your lecturer.
- Related Handbook entries
This subject contributes to the following:
Type Name Course Graduate Diploma in Economics Course Master of Economics Course Doctor of Philosophy - Business and Economics Informal specialisation Economics
Last updated: 3 November 2022