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Advanced Microeconomics (ECON40001)
HonoursPoints: 12.5On Campus (Parkville)
About this subject
Contact information
Semester 1
Overview
| Availability | Semester 1 |
|---|---|
| Fees | Look up fees |
An introduction to advanced microeconomics and to the economics of information and strategic behaviour. Topics to be covered include decision making under uncertainty, the interaction of primal and dual methods of modelling producer and consumer behaviour, the existence and welfare properties of general equilibrium, the theory of market failure and public goods, models of strategic behaviour in oligopoly, an introduction to game theory.
Intended learning outcomes
Upon successful completion of this subject, students should be able to:
- Understand and to be able to use the techniques of parametric optimisation, the envelope technique and duality as a basis for comparative statics
- Understand and to be able to use the fixed point theorems that are used in advanced microeconomics
- Understand and to be able to explain the structure of the standard competitive model using envelope and duality methods
- Be able to apply fixed point theorems to demonstrate existence of optima and equilibria in general equilibrium, game theory and dynamic programming
- Understand the mathematical concepts that underlie the envelope techniques and fixed point theorems that are used in advanced microeconomics.
Generic skills
-
High level of development: problem solving; interpretation and analysis; critical thinking.
-
Moderate level of development: collaborative learning; application of theory to practice; synthesis of data and other information; accessing data and other information from a range of sources; receptiveness to alternative ideas.
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Some level of development: written communication; team work.
Last updated: 31 January 2024
Eligibility and requirements
Prerequisites
Admission into or selection of one of the following:
- BH-COM Bachelor of Commerce (Degree with Honours)
- GD-ECO Graduate Diploma in Economics
- MC-ECO Master of Economics
- Economics specialisation (formal) in the BH-ARTS Bachelor of Arts (Degree with Honours)
OR
| Code | Name | Teaching period | Credit Points |
|---|---|---|---|
| ECON30010 | Microeconomics | Semester 1 (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: 31 January 2024
Assessment
| Description | Timing | Percentage |
|---|---|---|
Word Problem Set 1
| Week 5 | 10% |
Mid -semester test
| Week 7 | 20% |
Word Problem Set 2
| Week 11 | 10% |
End-of-semester examination
| During the examination period | 60% |
Last updated: 31 January 2024
Dates & times
- Semester 1
Principal coordinator Alexandru Nichifor Mode of delivery On Campus (Parkville) Contact hours Two 80-minute lectures and one 1-hour tutorial per week. Total time commitment 170 hours Teaching period 26 February 2024 to 26 May 2024 Last self-enrol date 8 March 2024 Census date 3 April 2024 Last date to withdraw without fail 3 May 2024 Assessment period ends 21 June 2024 Semester 1 contact information
Time commitment details
170 Hours
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
You will be advised of prescribed texts by your lecturer.
- Related Handbook entries
This subject contributes to the following:
Type Name Course Master of Economics Course Graduate Diploma in Economics - Available to Study Abroad and/or Study Exchange Students
This subject is available to students studying at the University from eligible overseas institutions on exchange and study abroad. Students are required to satisfy any listed requirements, such as pre- and co-requisites, for enrolment in the subject.
Last updated: 31 January 2024