School Of BusinessConsumers, Firms and Markets (WSTC)Western Sydney University Unit Code: 700249.1
Discipline: ECONOMICS
Student Contribution Band: 4
Level: 1
Credit Points: 10
Equivalent Units
200922 - Consumers, Firms and Markets
Unit Enrolment Restrictions
Students must be enrolled at Western Sydney University, The College. Students enrolled in extended diplomas must pass 40 credit points from the preparatory units listed in the course structure prior to enrolling in this University level unit.
About this Unit
This unit is an introduction to microeconomics. It provides students with an understanding of basic concepts such as value, rational consumer behaviour, the behaviour of firms in various market structures, the efficiency and failings of markets, the distribution of wealth and income, and the role of government regulation and intervention. It illuminates these concepts by considering and debating their application to contemporary economic and social issues such as: the influence of marketing on consumer choices, the concentration of market power in Australian industries, rising income and wealth inequality, minimum wage laws, and governmental responses to environmental problems and climate change.