Introductory Economics (ECON10006)
Undergraduate level 1Points: 12.5On Campus (Dookie)
Overview
| Availability | Semester 2 |
|---|---|
| Fees | Look up fees |
This subject introduces students to the theory of microeconomics. It will consider the operation of a market economy and the problem of how best to allocate society's scarce resources. The course considers the way in which various decision making units in the economy (individuals and firms) make their consumption and production decisions and how these decisions are coordinated. It considers the laws of supply and demand, and introduces the theory of the firm, and its components, production and cost theories and models of market structure. The various causes of market failure are assessed, and consideration is given to public policies designed to correct this market failure. This subject will use the agriculture sector as a case study focusing on the place of agriculture within the Australian economy, and exploring the impact of supply and demand, government policy and international trade on the sector.
Intended learning outcomes
On completion of this subject students will have gained an understanding of:
- The concept of scarcity and marginal analysis
- The basic economic forces affecting decision making by firms and consumers
- The role of supply and demand in determining price
- How market failure, in the form of externalities and common property rights affects the market
- Inter-relationship between different components in an economy
- The role and impact of government (policy) in the economy
- The theory of international trade, importance of trade in the economy and the impact of trade and economic policies on world trade
Generic skills
This subject encompasses particular generic skills so that on completion of the subject students should have developed skills relating to:
- The use of electronic forms of communication
- The student's flexibility and level of transferable skills should be enhanced through improved time management
- Working collaboratively with other students
- Problem solving and critical thinking
- Enhanced ability to communicate their ideas effectively in both written and verbal formats
- Accessing information from the library via both electronic and traditional means
Last updated: 4 March 2025
Eligibility and requirements
Prerequisites
None
Corequisites
None
Non-allowed subjects
None
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 |
|---|---|---|
Mid-semester test due approximately week 6
| Week 6 | 20% |
Assignment due approximately week 9
| Week 9 | 30% |
Examination
| During the examination period | 50% |
Last updated: 4 March 2025
Dates & times
- Semester 2
Principal coordinator Ros Gall Mode of delivery On Campus (Dookie) Contact hours 36 hours: 24 hours lectures, 12 hours tutorials 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
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: 4 March 2025
Further information
- Texts
- Related Handbook entries
This subject contributes to the following:
Type Name Course Diploma in General Studies (Extended) Course Diploma in General Studies - 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