School Of BusinessMicroeconomic Theory and ApplicationsWestern Sydney University Unit Code: 200530.3
Discipline: ECONOMICS
Student Contribution Band: 3
Level: 3
Credit Points: 10
Co ordinator
Partha Gangopadhyay
Equivalent Units
200058 - Industry Economics and Policy
Prerequisite
200525 Principles of Economics OR 200052 Introduction to Economic Methods
Teaching Periods
Nothing on offer.
*If using Safari, Firefox or Chrome to print the Unit Outline, right-click on the Print Unit Outline link and select 'Save link as...' or in Safari 'Download Linked File'
About this UnitIn 2016, this unit replaced by 200923 - Corporations, Economic Power and Policy. The aim of Microeconomic Theory and Applications is to extend students’ knowledge of microeconomic theory developed in Principles of Economics. After a more formal presentation, the rather idealistic assumptions used in the context of the perfectly competitive markets will be relaxed in order to model typical situations encountered in the business world. The theory of choice will be extended to situations where individuals face uncertainty regarding the outcome of their own actions. In terms of market structure, we will investigate the consequences in terms of price, quantity and consumer’s surplus, of monopoly, oligopoly or duopoly markets. As some of these market structures imply that the individuals’ decisions might strongly affect or be affected by a limited number of other decision makers, an introduction to Game Theory will be presented. Finally, our concerns for investigating more realistic economic situations will lead us to make a brief incursion into markets characterised by asymmetric information, the presence of public goods or the existence of externalities.
Courses| 1688.5 | Bachelor of International Studies/Bachelor of Business and Commerce | CONTINUING |
| 1785.1 | Bachelor of Communication/Bachelor of Business and Commerce | CONTINUING |
| 2739.2 | Bachelor of Business and Commerce | CONTINUING |
| 2739.4 | Bachelor of Business and Commerce | CONTINUING |
| 2739.5 | Bachelor of Business and Commerce | CONTINUING |
| 2740.7 | Bachelor of Business and Commerce/Bachelor of Laws | CONTINUING |
| 2740.8 | Bachelor of Business and Commerce/Bachelor of Laws | CONTINUING |
| 2740.9 | Bachelor of Business and Commerce/Bachelor of Laws | CONTINUING |
| 2753.1 | Bachelor of Business and Commerce | CONTINUING |
| 2753.2 | Bachelor of Business and Commerce | CONTINUING |
| 2753.3 | Bachelor of Business and Commerce | CONTINUING |
| 2753.4 | Bachelor of Business and Commerce | CONTINUING |
| 2754.3 | Bachelor of Business and Commerce (Advanced Business Leadership) | CONTINUING |
Specialisations