units

ETC3840

Faculty of Business and Economics

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Monash University Handbook 2010 Undergraduate - Unit

6 points, SCA Band 0 (NATIONAL PRIORITY), 0.125 EFTSL

LevelUndergraduate
FacultyFaculty of Business and Economics
OfferedClayton Second semester 2010 (Day)
Coordinator(s)Dr Dyuti Banerjee

Synopsis

The unit will cover, in mathematical terms, many of the areas treated more intuitively in first-year microeconomics, eg: consumer demand, the theory of the firm, equilibrium and Pareto optimum. However, a significant portion of the lectures will deal with topics not covered earlier, such as non-linear programming, game theory, and dynamic optimisation.

Objectives

The learning goals associated with this unit are to:

  • understand the nature of economic optimisation in the presence of tradeoffs and scarce resources
  • understand the optimisation techniques that are employed to generate functions that characterise economic behaviour (demand, supply, and cost functions)
  • develop an appreciation for the marginalist perspective of economic decision making
  • appreciate the deficits of marginalist considerations and learn non-classical (or inframarginal) techniques that may be used to ameliorate such deficits.

Assessment

Within semester assessment: 30%
Examination (3 hours): 70%

Chief examiner(s)

Catherine Forbes

Contact hours

3 hours per week

Prerequisites

ECC2000 or equivalent

Prohibitions

ECC3840, ECC3844, ETC4384