Microeconomics II

Subject 316-650 (2008)

Note: This is an archived Handbook entry from 2008.Search for this in the current handbook

Credit Points: 12.500
Level: Graduate/Postgraduate
Dates & Locations:

This subject is not offered in 2008.

Time Commitment: Contact Hours: Seminars or lectures and tutorials totalling three hours per week (Semester 2).
Total Time Commitment: Not available
Prerequisites: 316-611 Microeconomics.
Corequisites: None
Recommended Background Knowledge: None
Non Allowed Subjects: None
Core Participation Requirements:

For the purposes of considering request for Reasonable Adjustments under the Disability Standards for Education (Cwth 2005), and Student Support and Engagement Policy, academic requirements for this subject are articulated in the Subject Overview, Learning Outcomes, Assessment and Generic Skills sections of this entry.

It is University policy to take all reasonable steps to minimise the impact of disability upon academic study, and reasonable adjustments will be made to enhance a student's participation in the University's programs. Students who feel their disability may impact on meeting the requirements of this subject are encouraged to discuss this matter with a Faculty Student Adviser and Student Equity and Disability Support: http://services.unimelb.edu.au/disability

Subject Overview:

Special attention is paid to the analysis of strategic behaviour and interactions of economic agents using the methods of game theory; the study of basic tools and methods of game theory will constitute the first part of the course (at least 5-6 weeks). The course will cover several other areas in microeconomics such as informational economics, the theory of contracts and organisations, economic design.


Assessment: Assignments totalling not more than 3000 words and seminar presentation (30%) and a 2-hour examination (70%).
Prescribed Texts: None
Breadth Options:

This subject is not available as a breadth subject.

Fees Information: Subject EFTSL, Level, Discipline & Census Date
Generic Skills: On successful completion of this subject students should be able to:
  • Formulate and analyse games in strategic and extensive form;
  • Explain solution concepts by constructing simple examples;
  • Analyse solutions in which agents bargain with each other;
  • Analyse games in which agents cooperate;
  • Synthesise the non-cooperative foundations of cooperative game theory.

On successful completion of this subject, students should have improved the following generic skills:

  • Evaluation of ideas, views and evidence
  • Synthesis of ideas, views and evidence
  • Strategic thinking
  • Critical thinking
  • Application of theory to economic policy and business decision making
  • Accessing economic and other information
  • Summary and interpretation of information
  • Statistical reasoning
  • Problem solving skills
  • Negotiation and bargaining
  • Written communication

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