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Microeconomics II (ECON90012)

Graduate courseworkPoints: 12.5On Campus (Parkville)

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Overview

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Semester 2
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The subject is an advanced treatment of selected topics in Microeconomics. Topics will be drawn from the following: an introduction to dynamic games of complete and incomplete information, bargaining, general equilibrium theory, welfare analysis, aggregation and the analysis of incomplete markets.

Intended learning outcomes

On successful completion of this subject students will be able to:



  • Formulate and analyse dynamic games of incomplete information;
  • Explain solution concepts by constructing simple examples;
  • Explain the main results derived from general equilibrium theory;
  • Explain the implications of the first and second fundamental theorems of welfare economics;
  • Apply the analysis of bargaining to explain behaviour observed in strategic bargaining situations;
  • Explain the role that aggregation plays in modern microeconomics;
  • Apply the tools of microeconomics to situations of incomplete markets.

Generic skills

On successful completion of this subject, students will have improved the following generic skills:

  • Evaluation of ideas, views and evidence
  • Synthesis of ideas, views and evidence
  • Strategic thinking
  • Critical thinking
  • Application of theory to economic policy and business decision making
  • Accessing economic and other information
  • Summary and interpretation of information
  • Statistical reasoning
  • Problem solving skills
  • Negotiation and bargaining
  • Written communication

Last updated: 3 November 2022