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Economics of Markets and Organisations (ECON90077)
Graduate courseworkPoints: 12.5Online
For information about the University’s phased return to campus and in-person activity in Winter and Semester 2, please refer to the on-campus subjects page.
About this subject
- Overview
- Eligibility and requirements
- Assessment
- Dates and times
- Further information
- Timetable(opens in new window)
Contact information
Please refer to the LMS for up-to-date subject information, including assessment and participation requirements, for subjects being offered in 2020.
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 2 (On Campus - Parkville)
Semester 1 (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
Due to the impact of COVID-19, assessment may differ from that published in the Handbook. Students are reminded to check the subject assessment requirements published in the subject outline on the LMS
Description | Timing | Percentage |
---|---|---|
8 Multiple choice tests. (One due each week).
| Throughout the semester | 15% |
Assignment 1 – Short answer problems.
| Week 4 | 10% |
Assignment 2 – Short answer problems and case study.
| Week 7 | 15% |
Summary of participation in Discussion Forum
| Week 8 | 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
Principal coordinator David Christie Mode of delivery Online Contact hours Total time commitment 170 hours Pre teaching start date 20 April 2020 Pre teaching requirements Orientation activities. Teaching period 27 April 2020 to 21 June 2020 Last self-enrol date 21 April 2020 Census date 15 May 2020 Last date to withdraw without fail 5 June 2020 Assessment period ends 28 June 2020 - Term 4 - Online
Principal coordinator David Christie Mode of delivery Online Contact hours Total time commitment 170 hours Pre teaching start date 5 October 2020 Pre teaching requirements Orientation activities. Teaching period 12 October 2020 to 6 December 2020 Last self-enrol date 6 October 2020 Census date 30 October 2020 Last date to withdraw without fail 20 November 2020 Assessment period ends 13 December 2020
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 - Available through the Community Access Program
About the Community Access Program (CAP)
This subject is available through the Community Access Program (also called Single Subject Studies) which allows you to enrol in single subjects offered by the University of Melbourne, without the commitment required to complete a whole degree.
Entry requirements including prerequisites may apply. Please refer to the CAP applications page for further information.
Last updated: 3 November 2022