23942 Microeconomics 1
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Credit points: 6 cp
Subject level:
Postgraduate
Result type: Grade and marksThere are course requisites for this subject. See access conditions.
Description
This subject provides a rigorous introduction to modern microeconomic theory, with a focus on consumer and producer theory.
Subject learning objectives (SLOs)
| 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 1 is the first course in the micro sequence of the PhD core. It provides a rigorous introduction to modern microeconomic theory, with a focus on consumer and producer theory.
Teaching and learning strategies
The subject will be taught using a combination of lectures and tutorials. There is no course textbook.
Content (topics)
- Consumer theory.
- Theory of the firm
- Decision making under uncertainty.
- Partial equilibrium analysis.
Assessment
Assessment task 1: Assigned homework and in-class quizzes (Individual)*
| Objective(s): | This addresses subject learning objective(s): 1 and 2 |
|---|---|
| Weight: | 20% |
| Criteria: | *Note: Late submission of the assessment task will not be marked and awarded a mark of zero. |
Assessment task 2: Midterm Exam (Individual)
| Objective(s): | This addresses subject learning objective(s): 1 and 3 |
|---|---|
| Weight: | 30% |
Assessment task 3: Final examination (Individual)
| Objective(s): | This addresses subject learning objective(s): 1, 2, 3 and 4 |
|---|---|
| Weight: | 50% |
Minimum requirements
Students must achieve at least 50% of the subject’s total marks.
Required texts
Microeconomic Theory, by A. Mas-Colell, M. Whinston, and J. Green (Oxford University Press, 1995).
References
- Microeconomic Theory, by A. Mas-Colell, M. Whinston, and J. Green (Oxford University Press, 1995).
- Microeconomic Foundations I, by D. Kreps (Princeton University Press, 2013).
- Advanced Microeconomic Theory, 2nd edition, by G. Jehle & P. Reny (Addison-Wesley, 2000).
- Microeconomic Analysis, 3rd edition, by Hal Varian (Norton, 1992).