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23943 Microeconomics 2

Warning: The information on this page is indicative. The subject outline for a particular session, location and mode of offering is the authoritative source of all information about the subject for that offering. Required texts, recommended texts and references in particular are likely to change. Students will be provided with a subject outline once they enrol in the subject.

Subject handbook information prior to 2019 is available in the Archives.

UTS: Business: Economics
Credit points: 6 cp
Result type: Grade and marks

There are course requisites for this subject. See access conditions.

Description

This subject provides a rigorous introduction to modern microeconomic theory, with a focus on general equilibrium, welfare economics, and public goods and externalities.

Subject learning objectives (SLOs)

Upon successful completion of this subject students should be able to:
1. Understand modern microeconomic models of consumer theory, theory of the firm, decision making under uncertainty, and partial equilibrium analysis
2. Apply these models to analysis of economic policy
3. Modify existing models and apply them to new policy questions
4. Use the technical skills developed throughout the course to knowledgeably read contemporary microeconomic research

Contribution to the development of graduate attributes

Microeconomics II is the second course in the micro sequence of the PhD core. It provides a rigorous introduction to modern microeconomic theory, with a focus on general equilibrium theory and welfare, public goods, and other advanced topics.

Teaching and learning strategies

The subject will be taught using a combination of lectures and tutorials. There is no course textbook.

Content (topics)

  • General equilibrium.
  • Welfare economics.
  • Public goods and externalities.
  • Information economics.

Assessment

Assessment task 1: Assigned homework and in-class quizzes (Individual)

Objective(s):

This addresses subject learning objective(s):

1 and 2

Weight: 10%

Assessment task 2: Midterm Exam (Individual)

Objective(s):

This addresses subject learning objective(s):

1 and 3

Weight: 35%

Assessment task 3: Final examination (Individual)

Objective(s):

This addresses subject learning objective(s):

1, 2, 3 and 4

Weight: 55%

Minimum requirements

Students must achieve at least 50% of the subject’s total marks.

Recommended texts

There is no required textbook.

References

  1. Advanced Microeconomic Theory, 2nd edition, by G. Jehle & P. Reny (Addison-Wesley, 2000).
  2. Microeconomic Theory, by A. Mas-Colell, M. Whinston, and J. Green (Oxford University Press, 1995).
  3. Microeconomic Analysis, 3rd edition, by Hal Varian (Norton, 1992).