Microeconomics

Unit code: HBE110N

Related course(s)

At the completion of this unit, students will be able to:

Identify the methodology used in economics
Know the nature of the economic problem, and the facilitating role of markets
Describe why firms charge the prices and produce the quantities that they do; and what the industrial characteristics are that determine this
Match variations in pricing and output behaviour with variations in industry structure and competitiveness
Identify when firms are efficient and when they are not, and why
Describe the situations in which market forces fail to allocate resources in a socially optimal manner (such as in the case of pollution and climate change); and indicate ways that government might be able to remedy market failure

Lecture (2 hours), Tutorials (1 hour)

Lectures will be used to introduce the topics, concepts and theories.

Tutorials will provide a forum for testing knowledge, discussion, questions, and problem solving.

Individual Assignment 10%-20%
Mid-semester Invigilated Assessment (individual) 20%-30%
Exam (individual) 50%-70%

The graduate attributes which relate to this unit help to produce graduates who are:

Capable in their chosen professional, vocational or study areas
Entrepreneurial in contributing to innovation and development within their business, workplace or community
Effective and ethical in work and community situations
Adaptable and able to manage change
Aware of local and international environments in which they will be contributing (eg socio-cultural, economic, natural)

Students are introduced to core microeconomic concepts such as:

Students are advised to check the unit outline in the relevant teaching period for appropriate textbooks and further reading.