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Economics of Markets and Organisations (ECON90077)
Graduate courseworkPoints: 12.5Online
About this subject
- Overview
- Eligibility and requirements
- Assessment
- Dates and times
- Further information
- Timetable(opens in new window)
Contact information
Overview
Availability | Term 2 - Online Term 4 - Online |
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Fees | Look up fees |
The subject provides an introduction to the fundamentals of microeconomics and strategy, and applies this knowledge to a number of business and management issues. Topics to be covered include: the working of competitive markets and the determination of market prices and quantities; the organisation of the firm and various measures of the costs of production; business strategies and market outcomes in different market environments; and public policy towards business in the presence of “external costs” in production.
Intended learning outcomes
On successful completion of this subject students should be able to:
- Explain the role of supply and demand in determining price in a competitive market;
- Apply supply and demand analysis to economic and business strategy issues;
- Explain how economies of scale, scope and learning determine the boundaries of a firm and market structure;
- Identify the main characteristics of different market types, such as perfect competition, monopoly, monopolistic competition and oligopoly. Explain and analyse the nature of competitive behaviour in these markets and the implications for business strategy;
- Apply economic models of business behaviour and markets to describe the main features of actual markets and to explain outcomes in actual markets, including prices and output levels, and business performance and profitability;
- Identify strategic situations in business activity and be able to analyse and predict the outcomes of these strategic situations using game theory;
- Identify the concepts of "external" costs and benefits that may be generated by consumption and production. Explain the nature of public policy in the form of taxation, quantitative restrictions and tradeable emissions permits that may be imposed on firms to correct for external costs in production where environmental pollution may have resulted.
- Analyse and explain the implications of various measures of cost; and
- Identify the concepts of "external" costs and benefits that may be generated by consumption and production. Explain the nature of public policy in the form of taxation, quantitative restrictions and tradeable emissions permits that may be imposed on firms to correct for external costs in production where environmental pollution may have resulted.
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;
- Problem solving skills;
- Written communication; and
- Oral communication.
Last updated: 3 November 2022
Eligibility and requirements
Prerequisites
Entry into the Graduate Certificate in Business.
Corequisites
None
Non-allowed subjects
Code | Name | Teaching period | Credit Points |
---|---|---|---|
ECON90015 | Managerial Economics |
Semester 1 (On Campus - Parkville)
Semester 2 (On Campus - Parkville)
|
12.5 |
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
Description | Timing | Percentage |
---|---|---|
Summary of participation in Discussion Forum
| Week 8 | 10% |
Assignment 2 – Short answer problems and case study.
| Week 7 | 15% |
8 Multiple choice tests. (One due each week).
| Throughout the semester | 15% |
Assignment 1 – Short answer problems.
| Week 4 | 10% |
Final Exam Part 1: Take-home exam
| During the examination period | 20% |
Final Exam Part 2: Online exam
| During the examination period | 30% |
Last updated: 3 November 2022
Dates & times
- Term 2 - Online
Mode of delivery Online Contact hours Total time commitment 170 hours Pre teaching start date 23 April 2018 Pre teaching requirements Orientation activities. Teaching period 30 April 2018 to 24 June 2018 Last self-enrol date 24 April 2018 Census date 18 May 2018 Last date to withdraw without fail 8 June 2018 Assessment period ends 1 July 2018 - Term 4 - Online
Mode of delivery Online Contact hours Total time commitment 170 hours Pre teaching start date 8 October 2018 Pre teaching requirements Orientation Activities. Teaching period 15 October 2018 to 9 December 2018 Last self-enrol date 9 October 2018 Census date 2 November 2018 Last date to withdraw without fail 23 November 2018 Assessment period ends 16 December 2018
Time commitment details
170
Last updated: 3 November 2022
Further information
- Texts
Prescribed texts
There are no specifically prescribed or recommended texts for this subject.
- Related Handbook entries
This subject contributes to the following:
Type Name Course Graduate Certificate in Business
Last updated: 3 November 2022