Microeconomics and the Australian Tax System - ATAX0003

 
Faculty: Faculty of Law
 
   
 
Course Outline: See below
 
 
Campus: ATAX Campus
 
 
Career: Undergraduate
 
 
Units of Credit: 6
 
 
EFTSL: 0.12500 (more info)
 
 
Indicative Contact Hours per Week: 0
 
 
Excluded: ATAX0103
 
 
Fee Band: 3 (more info)
 
 
Further Information: See Class Timetable
 
 
Available for General Education: Yes (more info)
 
 

Description


This course provides an introduction to basic microeconomic concepts and skills, and demonstrates their use in order to gain a clear understanding of economic problems and policy issues relevant to the Australian economy. It introduces students to the economic behaviour of small decision-making units such as households, firms and government agencies, with particular reference to the effects of taxation on markets. Emphasis is placed on analytical skills and key concepts which are relevant to tax professionals including, for example, opportunity cost, market equilibrium, elasticity, substitution and income effects, tax incidence and excess burden.


Recommended Prior Knowledge


None

Course Objectives


This course seeks to help you to develop:
  • An ability to recognise economic problems as choice problems arising from scarcity
  • A thorough familiarity with the working of markets through the interaction of demand and supply
  • An understanding the effects of regulation and taxes on the allocation of resources

Main Topics


  • Fundamentals of microeconomics
  • Market demand and supply
  • Consumer behaviour and the demand curve
  • Firm behaviour and the supply curve
  • Market outcomes under perfect competition
  • Market outcomes under other market structures
  • Microeconomics of taxation
  • The use of taxation to correct market failure
  • International trade: theory and policy

Assessment


2 Assignments
1 Exam

Course Texts


Information regarding the Atax Textbook Lists for Semester 1 will be available on the UNSW Bookshop website from 1 February.

Information regarding the Atax Textbook Lists for Semester 2 will be available on the UNSW Bookshop website from 1 July.

Order from UNSW Bookshop:
http://www.bookshop.unsw.edu.au/atax.html