Introductory Microeconomics (ECON10004)
Undergraduate level 1Points: 12.5Dual-Delivery (Parkville)
Please refer to the return to campus page for more information on these delivery modes and students who can enrol in each mode based on their location.
About this subject
Contact information
Semester 1
Nahid Khan: n.khan@unimelb.edu.au
Semester 2
Jun Xiao: jun.xiao@unimelb.edu.au
Overview
| Availability(Quotas apply) | Semester 1 - Dual-Delivery Semester 2 - Dual-Delivery |
|---|---|
| Fees | Look up fees |
This subject is an introduction to microeconomic theory and policy. Topics include the theory of perfectly competitive markets, welfare analysis and the role of government in the economy, theory of the firm (production and costs), game theory, and effects of market structure on resource allocation.
Intended learning outcomes
- Understand the operation of the economy, and to guide decision-making by individuals, businesses and government in solving the key economic problem of meeting unlimited wants with limited resources
- Explain the concepts of market demand, supply and equilibrium; and apply the market model to explain the determination of prices, quantities and wellbeing
- Explain how market and social welfare outcomes are affected by changes in demand and supply, and by changes of government policy
- Explain in what circumstances and in what forms intervention by government in the operation of the economy can improve efficiency and social welfare
- Identify “strategic situations” in economic activity, and be able to analyse and predict outcomes of strategic situations
- Identify the main characteristics of different market structures, and describe and evaluate the nature of decisions and outcomes in the different market structures
- Explain the nature, role and limitations of theory and models in economic analysis
- Proceed to the study of other economics and commerce subjects that have a knowledge of introductory microeconomics as a prerequisite
Generic skills
-
High level of development: written communication; problem solving; application of theory to practice; interpretation and analysis; critical thinking; synthesis of data and other information.
-
Moderate level of development: oral communication; collaborative learning; team work; evaluation of data and other information; receptiveness to alternative ideas.
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Some level of development: statistical reasoning; use of computer software; accessing data and other information from a range of sources.
Last updated: 9 April 2025
Eligibility and requirements
Prerequisites
Option 1
Admission into one of the following:
- B-COM Bachelor of Commerce
- B-BMED Bachelor of Biomedicine
- B-SCI Bachelor of Science
Option 2
A study score of at least 25 in VCE Mathematical Methods (Units 3 and 4) or Specialist Mathematics (Units 3 and 4), or equivalent
Option 3
| Code | Name | Teaching period | Credit Points |
|---|---|---|---|
| MAST10012 | Introduction to Mathematics | Semester 1 (Dual-Delivery - Parkville) |
12.5 |
Note: these can be taken concurrently (at the same time)
Option 4
All of
| Code | Name | Teaching period | Credit Points |
|---|---|---|---|
| MAST10014 | Foundation Mathematics 1 | Semester 1 (Dual-Delivery - Parkville) |
12.5 |
| MAST10015 | Foundation Mathematics 2 | Semester 2 (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: 9 April 2025
Assessment
| Description | Timing | Percentage |
|---|---|---|
Individual written assignment
| Week 6 | 15% |
Individual written assignment
| Week 10 | 15% |
Tutorial attendance and participation | Throughout the teaching period | 10% |
End-of-semester examination
| During the examination period | 60% |
Additional details
Important online examination information: This examination is the equivalent of a 2-hour assessment; however, students are provided with 3-hours to accommodate the time that will be required for typesetting of mathematical expressions and the uploading of documents.
Last updated: 9 April 2025
Quotas apply to this subject
Dates & times
- Semester 1
Coordinators Alexandru Nichifor and Laura Panza Mode of delivery Dual-Delivery (Parkville) Contact hours Two 1-hour lectures and a 1-hour tutorial per week Total time commitment 170 hours Teaching period 1 March 2021 to 30 May 2021 Last self-enrol date 19 February 2021 Census date 31 March 2021 Last date to withdraw without fail 7 May 2021 Assessment period ends 25 June 2021 Semester 1 contact information
Nahid Khan: n.khan@unimelb.edu.au
- Semester 2
Coordinator Jun Xiao Mode of delivery Dual-Delivery (Parkville) Contact hours Two 1-hour lectures and a 1-hour tutorial per week Total time commitment 170 hours Teaching period 26 July 2021 to 24 October 2021 Last self-enrol date 6 August 2021 Census date 31 August 2021 Last date to withdraw without fail 24 September 2021 Assessment period ends 19 November 2021 Semester 2 contact information
Jun Xiao: jun.xiao@unimelb.edu.au
Time commitment details
An estimated total time commitment of at least 170 hours.
Additional delivery details
Please note that the Semester 1 & 2 offering of this subject has an enrolment quota:
- 1900 places only.
- Initial self-enrolment will be provisional, places will not be guaranteed until the selection process has been run.
- Students will be selected into the subject on a first-come, first-served basis with preference given to students undertaking the subject as a compulsory subject in their degree or a core subject in their major.
- Students taking the subject as breadth may be withdrawn and should consider enrolling in the subject in a subsequent semester.
Last updated: 9 April 2025
Further information
- Texts
- Related Handbook entries
This subject contributes to the following:
Type Name Course Bachelor of Environments Major Economics Major Property Major Construction Breadth Track Contemporary Public Economic Policy Breadth Track Global Economic Issues Breadth Track Quantitative Methods in Economics - Breadth options
This subject is available as breadth in the following courses:
- Bachelor of Arts
- Bachelor of Biomedicine
- Bachelor of Design
- Bachelor of Environments
- Bachelor of Fine Arts (Acting)
- Bachelor of Fine Arts (Animation)
- Bachelor of Fine Arts (Dance)
- Bachelor of Fine Arts (Film and Television)
- Bachelor of Fine Arts (Music Theatre)
- Bachelor of Fine Arts (Production)
- Bachelor of Fine Arts (Screenwriting)
- Bachelor of Fine Arts (Theatre)
- Bachelor of Fine Arts (Visual Art)
- Bachelor of Music
- Bachelor of Science
- 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.
Please note Single Subject Studies via Community Access Program is not available to student visa holders or applicants
Entry requirements including prerequisites may apply. Please refer to the CAP applications page for further information.
- Available to Study Abroad and/or Study Exchange Students
Last updated: 9 April 2025