Introduction
Intermediate Microeconomics has two main purposes. First, it provides the basic foundations of economics and the essential building blocks for higher-level economics and finance units. Starting from fundamental assumptions, this unit develops the neoclassical theory of the optimising behaviour of consumers and firms and the process of interaction of these agents within various market structures. Secondly, Intermediate Microeconomics shows how the economic theory developed can be directly applied to help solve the decisions that face policy makers, managers, financiers and households, such as dealing with risk and time, minimising cost, production, maximising profit through pricing and analysing markets, competition and welfare. It achieves this through application of the theory to real-world examples and solving problems of this nature.
Summary 2020
| Unit name | Public Policy and Welfare |
|---|---|
| Unit code | BEA200 |
| Credit points | 12.5 |
| Faculty/School | College of Business & Economics Tasmanian School of Business and Economics |
| Discipline | Economics and Finance |
| Coordinator | |
| Level | Intermediate |
| Available as student elective? | Yes |
| Breadth Unit? | No |
Availability
Note
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TNE Program units special approval requirements.
* The Final WW Date is the final date from which you can withdraw from the unit without academic penalty, however you will still incur a financial liability (see withdrawal dates explained for more information).
Learning Outcomes
- LO1: Analyse decisions of individuals and firms and derive key microeconomic concepts.
- LO2: Analyse markets, describe when markets fail and demonstrate solutions to market failures.
- LO3: Analyse the effects of government policy, social change and world events using economic theory and models.
- LO4: Communicate economics in written format.
Fees
Requisites
Prerequisites
BEA111
Students enrolling in BEA200 are expected to have the following basic skills in mathematics (from high school):
- Basic Algebra – manipulation of equations, solving equations.
- Linear Functions – plotting functions, identifying slope and intercept.
- Logarithms and Exponentials – index and log laws.
An understanding of simple calculus (simple and partial differentiation) is also useful but will be taught as part of the unit. Students enrolling in BEA200 are also expected to be able to use: MS Excel and MS Word – to perform simple calculations and produce professional reports.
Co-requisites
Teaching
| Teaching Pattern | 1 x 2 hour lecture, 1 x 1 hour workshop per week. Please check the unit outline for details. |
|---|---|
| Assessment | Quizzes (10%), Assignment (40%), Final exam (50%). |
| Timetable | View the lecture timetable | View the full unit timetable |
Textbooks
| Required | The prescribed textbook, available from the Co-op Bookshop is: Perloff, Smith and Round, Microeconomics (Australian Edition), Pearson, 2014. ISBN 9781442532830 This is the first ever Australian edition of an intermediate microeconomics text! It contains clear diagrams, solved problems, chapter summaries and applications of microeconomics to real-world Australian and international events, issues and policies. Students may also wish to purchase a e-book access for the prescribed text directly from Pearson’s Australian website. eText only: http://www.pearson.com.au/9781442548695 This is the first ever Australian edition of an intermediate microeconomics text! It contains clear diagrams, solved problems, chapter summaries and applications of microeconomics to real-world Australian and international events, issues and policies |
|---|---|
| Recommended |
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