ECB1101 · Introductory microeconomics

Overview

This unit introduces the core principles of microeconomics and their application to real-world business and policy contexts. You will examine opportunity cost, supply and demand, market structures, and welfare analysis, while exploring how government intervention and market failures affect efficiency, equity, and sustainability. The unit develops economic reasoning and analytical skills for informed and ethical decision-making in a global environment and builds essential economic literacy for further study in economics and related disciplines.

Offerings

Assessment

The Handbook lists an examination for this unit.

Assessment details may change. Please refer to the assessment information in Moodle closer to the start of the teaching period.

Requisites

Learning outcomes

1. explain core microeconomic principles and their relevance to business decision-making
2. apply microeconomic models to analyse consumer and firm behaviour, market outcomes, and the effects of government interventions
3. utilise appropriate economic terminology, models and graphical analysis to develop business and public policy recommendations
4. evaluate the influence of market structures, policies and institutions on efficiency, equity and sustainability in both local and global contexts.

Workload

Minimum total expected workload to achieve the learning outcomes for this unit is 144 hours per semester typically comprising a mixture of scheduled learning activities and independent study. Independent study may include associated readings, assessment and preparation for scheduled activities. You are expected to complete all pre-class activities prior to your scheduled class, and post-class activities should be completed after your scheduled class. Learning activities may include a combination of teacher directed, peer directed and online engagement activities.

Student experience, not official rules. Nothing here changes what the Handbook says.