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Microeconomics Analysis 1
UoS Code ECON6001
Credit points 6
Offered Semester 1 and Semester 2
Prerequisites ECON5001
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Lectures 3 hrs per week
Assessment 1 Mid semester exam, final exam
Description This unit is an introduction to modern microeconomic theory and as such has three purposes: (i) to introduce students to the major ideas of modern microeconomics and to develop their understanding of these ideas; (ii) to develop students\\\' facility with analytic economic models; and (iii) to develop students\\\' ability to solve economic problems with the ideas, techniques, and models available to professional economists. Topics covered include (i) individual decision-making by economic agents, (ii) the determination of prices and resource allocation in competitive general equilibrium models, (iii) strategic behaviour by firms under imperfect competition, and (iv) contracting with imperfect information.