Unit

School Of Business

Microeconomic 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.

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About this Unit
In 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
1688.5Bachelor of International Studies/Bachelor of Business and CommerceCONTINUING
1695.4Bachelor of Arts/Bachelor of Business and CommerceCONTINUING
1785.1Bachelor of Communication/Bachelor of Business and CommerceCONTINUING
2739.2Bachelor of Business and CommerceCONTINUING
2739.4Bachelor of Business and CommerceCONTINUING
2739.5Bachelor of Business and CommerceCONTINUING
2740.7Bachelor of Business and Commerce/Bachelor of LawsCONTINUING
2740.8Bachelor of Business and Commerce/Bachelor of LawsCONTINUING
2740.9Bachelor of Business and Commerce/Bachelor of LawsCONTINUING
2753.1Bachelor of Business and CommerceCONTINUING
2753.2Bachelor of Business and CommerceCONTINUING
2753.3Bachelor of Business and CommerceCONTINUING
2753.4Bachelor of Business and CommerceCONTINUING
2754.3Bachelor of Business and Commerce (Advanced Business Leadership)CONTINUING


Specialisations

KP2002.1EconomicsCONTINUING
KP2012.1EconomicsCONTINUING
KP2504EAP.1Economic Analysis and PolicyCONTINUING
KT2001.1Applied EconomicsCONTINUING
KT2004.1Economics and FinanceCONTINUING
M2504ECON.1EconomicsCONTINUING
MT2001.1Applied FinanceCONTINUING
MT2010.1EconomicsCONTINUING
MT2011.1Applied FinanceCONTINUING
S2504ECON.1EconomicsCONTINUING
SM2051.1EconomicsCONTINUING




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