51331 MICROECONOMICS FOR BUSINESS AND GOVERNMENT

Year	No.	Offer	Mode	Description			Cred. Pts
00	51331 	S2  	X 	MICROECON'S FOR BUS & GOVT	1.00

Contents

• Staffing
• Pre-requisite(s)
• Rationale
• Synopsis
• Objectives
• Topics
• Texts
• Recommended References
• Student Workload
• Assessment Details
• Other Requirements

STAFFING:

PRE-REQUISITE(S)

51008 Recommended:51332

RATIONALE:

Microeconomics  is  a  study of people in the  `ordinary  business  of
life'.  As  economic  welfare  depends  upon  the  choices  of  people
regarding  the  allocation and use of resources, it is necessary  that
ordinary  members  of  the community, and specialists  in  government,
education  and business, understand the account of these choices  that
is  provided by microeconomic theory and are able to develop critiques
of that theory. It is also necessary that they are able to appreciate,
and  undertake,  microeconomic analysis of contemporary  problems  and
policies.  This  unit explores the theory of economic choice  and  its
application to a range of resource-use questions.

SYNOPSIS:

Microeconomics is part of the study of how the world works.  It  deals
with  businesses,  household and government choices,  the  design  and
effects of policy and the efficiency and fairness of the way resources
are  used  in  a  community.  This  unit  focuses  upon  a  range   of
microeconomic principles, their use by economists in economic analysis
and  their relevance in the global information economy. While  drawing
on  the  history  of  economic  thought,  it  emphasises  contemporary
resource-  use  issues  and  the development  of  the  skills  of  the
professional economist.

OBJECTIVES:

Upon completion of this unit students should be able to:

1. Identify and explain sources of microeconomic change in an
   economy;
   
2. Demonstrate an understanding of the nature and method of micro-
   economics and of a set of selected microeconomic principles
   and theories;
   
3. Apply microeconomic theory in the explanation of resource
   allocation patterns in an economy;
   
4. Examine the role of government in the promotion and/or
   regulation of industry and markets to improve resource
   allocation;
   
5. Undertake microeconomic analysis and develop strategic and
   policy advice;
   
6. Critically appraise microeconomic theory and policy.
   

TOPICS:

 Description                                                    Weighting(%)

Introduction to Microeconomic Analysis                                4.00

Economic Choice-Consumers and Firms                                   23.00

Competitive Market Analysis                                           23.00

Non-Competitive Market Analysis                                       23.00

Factor Market Analysis                                                15.00

Economic Choice - Time and Risk                                       12.00

TEXT and MATERIALS to be PURCHASED:

Smith A, 1986 (1776), The Wealth of Nations, Books I-III, ed A.
Skinner, Penguin Classics.

Smith, B. & Summers, J. (eds), 1997, Communication Skills Handbook,
2nd edn, Faculty of Business, USQ.

RECOMMENDED REFERENCE MATERIALS:

Carroll J, Manne R (eds), 1992, Shutdown, Text Publishing, Melbourne

Case K E & Fair R C, 1996, Principles of Economics, 4th edn,
Prentice-Hall, Englewood Cliffs

Coombs H C, 1990, The Return of Scarcity, Cambridge, University
Press, Sydney.

McTaggart D, Findlay C, Parkin M, 1996 Economics, 2nd edn, Addison
Wesley, Sydney.

Koutsoyiannis A, 1979, Modern Microeconomics, 2nd edn, MacMillan,
London.

Koutsoyiannis A, 1982, Non-Price Decisions, Macmillan, London.

Pindyck R S & Rubinfeld D L, 1995, Microeconomics, 3rd edn, Prentice
Hall, NJ.

Eaton B C & Eaton D F, 1991, Microeconomics, 2nd edn, Freeman, New
York.

STUDENT WORKLOAD REQUIREMENTS:

	ACTIVITY				HOURS
Directed Study                                	65
Private Study                                 	100

ASSESSMENT DETAILS:

No  *F/S Marks     Due        Description                              Wtg(%)    LBL WWW
1   S    10.00     04/08/00  ASSIGNMENT 1                              10.00     Y   N
2   S    20.00     13/10/00  ASSIGNMENT 2                              20.00     Y   N
3   S    70.00     END S2    END OF SEMESTER EXAM 3 HOURS              70.00     N   N

OTHER REQUIREMENTS:

1    To  obtain  a  pass  in a unit, students must normally  obtain  a
     passing   mark  in  aggregate,  for  the  assignments   and   the
     examination.
2    The due date of an assignment is the date by which a student must
     despatch  the assignment to the University, and is normally  that
     defined  in the relevant unit specification. The onus is  on  the
     student to provide, if requested, proof of date of despatch.
3    Students  should organise their affairs to ensure that they  meet
     due  dates  for all assignments. Extensions will be granted  only
     under exceptional extenuating circumstances, normally involving a
     significant medical condition.
4    Students  may  apply  for  an  assignment  extension  either   by
     application  through  DEC before the due  date  or  by  including
     application  with the submitted assignment after  the  due  date.
     Such  applications  should be in writing and  include  supporting
     documentary evidence. The authority for granting extensions rests
     with the relevant Unit Leader.
5    All  assignments  despatched after due dates without  appropriate
     extension  approvals or after approved extension  dates  will  be
     penalised  up to a maximum of 20% of the assigned mark  per  work
     day.
6    Students  must  retain a copy of all assignments  which  must  be
     provided if/when required by the Unit Leader.
7    Unit  weightings of topics should not be interpreted as  applying
     to  the  number  of  marks allocated to questions  testing  those
     topics in an examination paper.
8    Students must perform at a commensurate grade level in all pieces
     of assessment to achieve a particular grade.