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Economics of Markets and Organisations (ECON90077)
Graduate courseworkPoints: 12.5Online
To learn more, visit 2023 Course and subject delivery.
About this subject
- Overview
- Eligibility and requirements
- Assessment
- Dates and times
- Further information
- Timetable(opens in new window)
Contact information
Term 2
Email: continuing-education@unimelb.edu.au
Phone: + 61 3 8344 0149
Contact hours: https://unimelb.edu.au/professional-development/contact-us
Term 4
Email: continuing-education@unimelb.edu.au
Phone: + 61 3 8344 0149
Contact hours: https://unimelb.edu.au/professional-development/contact-us
Overview
Availability | Term 2 - Online Term 4 - Online |
---|---|
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: 31 January 2024
Eligibility and requirements
Prerequisites
Admission into one of the following:
- MC-PROFMGT Master of Professional Management
- MC-SCM150 Master of Supply Chain Management
- GC-BUS Graduate Certificate in Business
Corequisites
None
Non-allowed subjects
Code | Name | Teaching period | Credit Points |
---|---|---|---|
ECON90015 | Managerial Economics |
Semester 2 (Dual-Delivery - Parkville)
Semester 1 (Dual-Delivery - 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: 31 January 2024
Assessment
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: 31 January 2024
Dates & times
- Term 2 - Online
Coordinator Jonathan Thong Mode of delivery Online Contact hours Total time commitment 170 hours Pre teaching start date 24 April 2023 Pre teaching requirements Orientation activities. Teaching period 1 May 2023 to 25 June 2023 Last self-enrol date 25 April 2023 Census date 19 May 2023 Last date to withdraw without fail 9 June 2023 Assessment period ends 2 July 2023 Term 2 contact information
Email: continuing-education@unimelb.edu.au
Phone: + 61 3 8344 0149
Contact hours: https://unimelb.edu.au/professional-development/contact-us
- Term 4 - Online
Coordinator Jonathan Thong Mode of delivery Online Contact hours Total time commitment 170 hours Pre teaching start date 9 October 2023 Pre teaching requirements Orientation activities. Teaching period 16 October 2023 to 10 December 2023 Last self-enrol date 10 October 2023 Census date 3 November 2023 Last date to withdraw without fail 24 November 2023 Assessment period ends 17 December 2023 Term 4 contact information
Email: continuing-education@unimelb.edu.au
Phone: + 61 3 8344 0149
Contact hours: https://unimelb.edu.au/professional-development/contact-us
Time commitment details
170
What do these dates mean
Visit this webpage to find out about these key dates, including how they impact on:
- Your tuition fees, academic transcript and statements.
- And for Commonwealth Supported students, your:
- Student Learning Entitlement. This applies to all students enrolled in a Commonwealth Supported Place (CSP).
Subjects withdrawn after the census date (including up to the ‘last day to withdraw without fail’) count toward the Student Learning Entitlement.
Last updated: 31 January 2024
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 Master of Supply Chain Management Course Graduate Certificate in Business Course Master of Professional Management - 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: 31 January 2024