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Campus: Kensington Campus
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Career: Undergraduate
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Units of Credit: 6
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Contact Hours per Week: 3
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Enrolment Requirements:
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Prerequisite: ECON1101
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Description
Economists believe that in a perfect world, with perfect information, under certain conditions, markets will allocate goods efficiently. Usually, markets do not function in this way. Firms may have market power, which they will exert in strategic ways to influence their rivals to gain advantage. Imperfect information presents a series of problems for firms, consumers and households, particularly for insurance and labour markets.
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