EC2003:03
Microeconomics 2B
Townsville
Prerequisites: EC1005
39 lectures, 24 tutorials. Second semester.
Theory of the firm; production functions and costs in the short- and long-term; firm’s behaviour in different market situations. Distribution theory and welfare.
Learning Objectives:
- the objective of the EC2002/2003 subjects (which together form a full-year microeconomics theory course) is to provide a thorough analysis of the theory of the marketsystem and the operation of supply and demand in determining the activities of individual economic units (consumers, firms and factors of production). This allows the actual performance of the economy (which is analysed in later applied microeconomic units) to be compared with the expected performance based on price theory, so that the differences between the two may lead to proposals for improving the economy’s performance.
Assessment by a three-hour examination (100%).