Economics of Markets and Organisations (ECON90077)
Graduate courseworkPoints: 12.5Online
About this subject
Contact information
Term 1
Email: continuing-education@unimelb.edu.au
Phone: + 61 3 8344 0149
Contact hours: https://unimelb.edu.au/professional-development/contact-us
Term 3
Email: continuing-education@unimelb.edu.au
Phone: + 61 3 8344 0149
Contact hours: https://unimelb.edu.au/professional-development/contact-us
Overview
| Availability | Term 1 - Online Term 3 - 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: 4 March 2025
Eligibility and requirements
Prerequisites
Admission into one of the following:
- Admission into or selection of one of the following:
- MC-PROFMGT Master of Professional Management
- MC-SCM150 Master of Supply Chain Management
- GC-BUS Graduate Certificate in Business
- MC-IBL Master of Indigenous Business Leadership
- MC-BUS Master of Business
- GC-IBL Graduate Certificate in Indigenous Business Leadership
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: 4 March 2025
Assessment
| Description | Timing | Percentage |
|---|---|---|
8 Weekly quizzies. (One due each week).
| Throughout the semester | 20% |
Individual Assignment
| End of Week 4 | 15% |
Group Assignment (3 to 4 student per group)
| End of Week 7 | 15% |
Final Exam
| During the assessment period | 50% |
Last updated: 4 March 2025
Dates & times
- Term 1 - Online
Coordinator Jonathan Thong Mode of delivery Online Contact hours Total time commitment 170 hours Pre teaching start date 20 January 2025 Pre teaching requirements Orientation activities. Teaching period 27 January 2025 to 23 March 2025 Last self-enrol date 21 January 2025 Census date 14 February 2025 Last date to withdraw without fail 7 March 2025 Assessment period ends 30 March 2025 Term 1 contact information
Email: continuing-education@unimelb.edu.au
Phone: + 61 3 8344 0149
Contact hours: https://unimelb.edu.au/professional-development/contact-us
- Term 3 - Online
Coordinator Jonathan Thong Mode of delivery Online Contact hours Total time commitment 170 hours Pre teaching start date 14 July 2025 Pre teaching requirements Orientation activities. Teaching period 21 July 2025 to 14 September 2025 Last self-enrol date 15 July 2025 Census date 8 August 2025 Last date to withdraw without fail 29 August 2025 Assessment period ends 21 September 2025 Term 3 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: 4 March 2025
Further information
- Texts
- Related Handbook entries
This subject contributes to the following:
Type Name Course Master of Professional Management Course Graduate Certificate in Business Course Master of Supply Chain 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.
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.
Last updated: 4 March 2025