Microeconomics 1 - ECON1101

 
Faculty: Australian School of Business
 
 
School:  School of Economics
 
 
Course Outline: ECON1101 Course Outline
 
 
Campus: Kensington Campus
 
 
Career: Undergraduate
 
 
Units of Credit: 6
 
 
EFTSL: 0.12500 (more info)
 
 
Indicative Contact Hours per Week: 3
 
 
Fee Band: 3 (more info)
 
 
Further Information: See Class Timetable
 
 
Available for General Education: Yes (more info)
 
 

Description


During Summer Term, this course is available as General Education to students from faculties outside the Australian School of Business.
All students taking this course during Summer Term 2009/10 will be required to pay full tuition fees. This includes Commonwealth supported students who are studying at UNSW. Please see Australian School of Business courses - Summer Term fees 2009-10 for more information.


Microeconomics 1 is an introductory course in the theory of markets with relevant applications to business, social and individual issues. The course covers the principles and consequences of 'rational' choice by individual economic agents in markets. It also provides introductory analysis of the role of governments in seeking to ensure the efficient operation of markets.
On completion of the course, students should be able to:
  • Demonstrate an understanding of economic concepts and their appropriate usage.
  • Demonstrate an ability to use economic principles in ‘rational’ decision-making.
  • Understand the different market environments in which management, social, individual and business decisions must be made.
  • Understand the justifications for Government microeconomic policy and the likely economic effects for individuals and businesses.