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Unit of study_
ECOS2001: Intermediate Microeconomics
2024 unit information
The aim of this unit is the development of theoretical and applied skills in economics. It looks at a variety of decisions made by consumers and producers as they interact in the markets for goods and services, and at the different market structures in which consumers and producers operate. A wide range of topics deepens the understanding of the microeconomics of consumer and producer interaction, including the economics of information and choice under uncertainty; industry structures other than monopoly and perfect competition; general equilibrium and economic efficiency; market failure and the role of government.
Unit details and rules
Managing faculty or University school:
Economics
| Code | ECOS2001 |
|---|---|
| Academic unit | Economics |
| Credit points | 6 |
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Prerequisites:
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ECON1001 or BUSS1040 or ECON1040 |
|---|---|
|
Corequisites:
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None |
| Prohibitions:
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ECON2001 or ECON2901 or ECOS2901 |
| Assumed knowledge:
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None |
At the completion of this unit, you should be able to:
- LO1. demonstrate fluency in explaining (1) the main microeconomic models describing consumer choice, firm behaviour, and government intervention and (2) the consequences of their interactions
- LO2. learn to (1) characterise the features of a competitive market equilibrium, (2) identify scenarios where markets operate successfully, and (3) identify scenarios when markets are likely to fail
- LO3. learn to understand the underlying assumptions about human behaviour and the limitations of the models taught in this unit and learn to critically evaluate competing theories
- LO4. learn to apply the microeconomic models to real-world economic problems (eg public health threats, poverty, inequality, abuse of market power, trade wars) and become fluent in the discussion of policy options
- LO5. learn and practice mathematical tools (basic algebra and calculus) to describe and understand behaviours, strategies and market dynamics
Unit availability
This section lists the session, attendance modes and locations the unit is available in. There is a unit outline for each of the unit availabilities, which gives you information about the unit including assessment details and a schedule of weekly activities.
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Modes of attendance (MoA)
This refers to the Mode of attendance (MoA) for the unit as it appears when you’re selecting your units in Sydney Student. Find more information about modes of attendance on our website.
