ECON19032 Microeconomics

The course builds on the introductory microeconomic theory presented in Principles of Economics (ECON11026). It examines the theory of price determination in goods and services and factor markets using marginal analysis and indifference curve analysis. It explores the costs of the firm in depth and examines price and output determination under various market structures. It examines the causes of market failure and the rationale for government intervention with the free operation of market forces including national competition policy and regulation. Throughout the course the theory is related to policy within the contemporary Australian economic environment.