Note: This is an archived Handbook entry from 2012.
|Dates & Locations:|| |
This subject is not offered in 2012.
|Time Commitment:||Contact Hours: One three-hour of lecture per week. |
Total Time Commitment: 12 hours per week
|Prerequisites:|| The following: |
Study Period Commencement:
Summer Term, Semester 1
|Recommended Background Knowledge:||Please refer to Prerequisites and Corequisites.|
|Non Allowed Subjects:||None|
|Core Participation Requirements:||
For the purposes of considering requests for Reasonable Adjustments under the Disability Standards for Education (Cwth 2005), and Students Experiencing Academic Disadvantage Policy, academic requirements for this subject are articulated in the Subject Description, Subject Objectives, Generic Skills and Assessment Requirements for this entry.
The University is dedicated to provide support to those with special requirements. Further details on the disability support scheme can be found at the Disability Liaison Unit website: http://www.services.unimelb.edu.au/disability/
ContactTo be advised
Auctions have been commonplace since antiquity. In recent times, auctions often have been used to sell a variety of agricultural commodities and natural resources, while sealed-bid tenders (an auction format) continue to be used extensively by both firms and governments to procure a variety of goods and services. Moreover, companies like eBay are integral parts of the global economy. This subject is designed to introduce students to the important auction formats and pricing rules and to help them understand the basic economic theory used to analyse these institutions. Empirical evidence and practical examples will be used throughout. |
On successful completion of this subject students should be able to:
|Assessment:||One 2-hour end-of-semester examination (70%) and several problem sets of approximately 3,000 words in total (30%).|
|Prescribed Texts:|| |
McMillan, J., Reinventing the Bazaar, A Natural History of Markets
|Recommended Texts:||Paarsch, H.J. & Peters M., Auction Manuscript|
|Breadth Options:|| |
This subject potentially can be taken as a breadth subject component for the following courses:
You should visit learn more about breadth subjects and read the breadth requirements for your degree, and should discuss your choice with your student adviser, before deciding on your subjects.
|Fees Information:||Subject EFTSL, Level, Discipline & Census Date|
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