- Code ECON8011
- Unit Value 6 units
- Offered by Research School of Economics
- ANU College ANU College of Business and Economics
- Course subject Economics
- Areas of interest Economics
The course will focus on Microeconomic theory as an approach to organizing economic ideas through modelling.
This course will examine some basic components of economic theory concerning the allocation of scarce resources:individual non-strategic decision making by consumers and firms, Markets and General Equilibrium, Game Theory for extending the models of consumers and producers to strategic settings (with an emphasis on asymmetric information and mechanism design), and models of how decisions are made in non market settings through political institutions or within firms.
Along the way we will consider how to include uncertainty in models and how to establish the existence of equilibria/optima and the comparative static properties of these predicted outcomes.
Upon successful completion, students will have the knowledge and skills to:
Upon successful completion of the requirements for this course, students will be able to:
- Individual Decision Makers: State and prove the fundamental properties of consumer and producer behaviour in neoclassical economics
- Markets: explain and apply the results of, Game Theory and General Equilibrium in understanding the properties of basic market structures.
- Mechanism Design: use mechanism design techniques to establish the structure of optimal incentive contracts and apply contract design to solve economic problems.
- Uncertainty: explain and apply the results of, and methods used in, expected utility theory
- Non-market allocation: state and prove the fundamental results of social choice, voting and managerial hierarchies; know the characteristics of some practical solutions to non-market allocation systems.
- Modelling: Describe relevant economic situations as games or optimization problems.
- Solving: Use curvature and monotonicity properties to establish the solutions and comparative static properties for relevant economic models.
See the course outline on the College courses page. Outlines are uploaded as they become available.
- Assignment 15%
- Midsession Exam 15%
- Spot Quiz 10%
- Examination 60%
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- 2 hours a week: lecture
- 1 hour a week to the modelling workshop (approx.)
- 6 hours a week: reading, research, group work, writing and assignment
- 1 hours a week: tutorials and seminars
Tuition fees are for the academic year indicated at the top of the page.
If you are a domestic graduate coursework or international student you will be required to pay tuition fees. Tuition fees are indexed annually. Further information for domestic and international students about tuition and other fees can be found at Fees.
- Student Contribution Band:
- Unit value:
- 6 units
If you are an undergraduate student and have been offered a Commonwealth supported place, your fees are set by the Australian Government for each course. At ANU 1 EFTSL is 48 units (normally 8 x 6-unit courses). You can find your student contribution amount for each course at Fees. Where there is a unit range displayed for this course, not all unit options below may be available.
Offerings, Dates and Class Summary Links
Class summaries, if available, can be accessed by clicking on the View link for the relevant class number.
|Class number||Class start date||Last day to enrol||Census date||Class end date||Mode Of Delivery||Class Summary|
|2647||15 Feb 2016||26 Feb 2016||31 Mar 2016||27 May 2016||In Person||N/A|