Introductory Microeconomics (ECON10004)
Undergraduate level 1Points: 12.5On Campus (Parkville)
About this subject
Contact information
Summer Term
David Christie: davidwc@unimelb.edu.au
Semester 1
Nahid Khan: n.khan@unimelb.edu.au
Semester 2
Overview
| Availability(Quotas apply) | Summer Term Semester 1 Semester 2 |
|---|---|
| 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
On successful completion of the subject, students should be able to:
- 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; and
- Proceed to the study of other economics and commerce subjects that have a knowledge of introductory microeconomics as a prerequisite.
Generic skills
On successful completion of this subject, students should have improved the following 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.
- 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 (On Campus - Parkville) |
12.5 |
Option 4
All of
| Code | Name | Teaching period | Credit Points |
|---|---|---|---|
| MAST10014 | Foundation Mathematics 1 | Semester 1 (On Campus - Parkville) |
12.5 |
| MAST10015 | Foundation Mathematics 2 | Semester 2 (On Campus - Parkville) |
12.5 |
Corequisites
Non-allowed subjects
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
Semester 1
| Description | Timing | Percentage |
|---|---|---|
Mid-semester test
| From Week 4 to Week 7 | 25% |
Individual written assignment
| From Week 7 to Week 10 | 15% |
Tutorial attendance and participation | Throughout the teaching period | 10% |
End-of-semester examination
| During the examination period | 50% |
Semester 2
| Description | Timing | Percentage |
|---|---|---|
Mid-semester test
| From Week 4 to Week 7 | 25% |
Individual written assignment
| From Week 7 to Week 10 | 15% |
Tutorial attendance and participation | Throughout the teaching period | 10% |
End-of-semester examination
| During the examination period | 50% |
Summer Term
| Description | Timing | Percentage |
|---|---|---|
Individual written assignment
| From Week 3 to Week 4 | 15% |
Mid-semester test
| From Week 4 to Week 5 | 25% |
Tutorial attendance and participation | Throughout the teaching period | 10% |
End-of-semester examination
| During the examination period | 50% |
Last updated: 9 April 2025
Quotas apply to this subject
Dates & times
- Summer Term
Principal coordinator David Christie Mode of delivery On Campus (Parkville) Contact hours Two 2-hour lectures and two 1-hour tutorials per week for six weeks Total time commitment 170 hours Teaching period 6 January 2025 to 16 February 2025 Last self-enrol date 10 January 2025 Census date 17 January 2025 Last date to withdraw without fail 7 February 2025 Assessment period ends 24 February 2025 Summer Term contact information
David Christie: davidwc@unimelb.edu.au
- Semester 1
Principal coordinators Reshad Ahsan, Eik Leong Swee, and Laura Panza Mode of delivery On Campus (Parkville) Contact hours Two 1-hour lectures and a 1-hour tutorial per week Total time commitment 170 hours Teaching period 3 March 2025 to 1 June 2025 Last self-enrol date 14 February 2025 Census date 31 March 2025 Last date to withdraw without fail 9 May 2025 Assessment period ends 27 June 2025 Semester 1 contact information
Nahid Khan: n.khan@unimelb.edu.au
- Semester 2
Coordinators Tom Wilkening and Maria Recalde Mode of delivery On Campus (Parkville) Contact hours Two 1-hour lectures and a 1-hour tutorial per week Total time commitment 170 hours Teaching period 28 July 2025 to 26 October 2025 Last self-enrol date 8 August 2025 Census date 1 September 2025 Last date to withdraw without fail 26 September 2025 Assessment period ends 21 November 2025 Semester 2 contact information
Time commitment details
An estimated total time commitment of at least 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.
Additional delivery details
Please note that the Semester 1 & 2 offering of this subject has an enrolment quota:
- Semester 1 2025 - 2400 places only
- Semester 2 2025 - 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 undertaking the subject as a compulsory subject in their degree or a core subject in their major, can submit an Enrolment Assistance Form to check if there is still room in the quota.
- 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 Property Major Construction Major Economics Breadth Track Global Economic Issues Breadth Track Contemporary Public Economic Policy 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