Information on this page, including unit offerings, is from the 2019 academic year.
Microeconomics A (BUS291)
|Availability||MURDOCH: S1-internal, S1-external
|Teaching Timetables||Murdoch S1
|Description||This unit provides knowledge and understanding of microeconomic theories and policies. Students are introduced to the important tools of microeconomic analysis. Topics covered include the neoclassical theories of demand and supply; choice under certainty, risk and uncertainty; the models of perfect competition, monopoly, oligopoly and monopolistic competition; basic elements of non-cooperative game theory. Applications of theory are considered throughout the unit. The unit requires good quantitative skills and critical thinking skills.|
|Unit Learning Outcomes||On successful completion of the unit you should be able to:
1. Construct a microeconomic model of a market, a firm, a consumer etc;
2. Derive predictions from a microeconomic model;
3. Evaluate the impact of a change in a pricing strategy, governmental policy, etc.
|Timetabled Learning Activities||Workshops: 2 hours per teaching week
All offerings of this unit include the equivalent of 30 hours of structured learning.
|Unit Learning Experiences||The learning and teaching approach informing the assessment and activity selection and design in this unit are student-centred, constructivist, and outcome-based (SOLO), featuring predominantly active learning strategies with tasks that are open-ended, authentic, and scaffolded. The unit uses blended learning which combines learning online with interactive workshops. Using this combination of online and face-to-face learning provides flexibility for all students to learn anytime (24/7), anywhere (with an Internet connection) at a pace that suits their learning style. In this unit students explore concepts online prior to workshops, through videos, audio, websites, simulations, readings, quizzes, blogs and online discussions. Workshops (online or face-to-face) are interactive and use active learning such as; guided instruction (e.g. small group and whole class discussion), role plays, simulations, case studies, scenario-based tasks, problem-based tasks, project-based tasks, presentations and enquiry-based tasks|
Mid-term test 25%
Final Exam 40%
|Prerequisites||BUS161 Introduction to Economics or BUS171 Foundations of Economics|
|Exclusions||students who have successfully completed BUS261 Microeconomics A may not enrol in this unit for credit.|
|Appears in these Minors||Economics
|Internet Access Requirements||Murdoch units normally include an online component comprising materials, discussions, lecture recordings and assessment activities. All students, regardless of their location or mode of study, need to have access to and be able to use computing devices with browsing capability and a connection to the Internet via Broadband (Cable, ADSL or Mobile) or Wireless. The Internet connection should be readily available and allow large amounts of data to be streamed or downloaded (approximately 100MB per lecture recording). Students also need to be able to enter into online discussions and submit assignments online.|
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