UNSW Handbook Course - Microeconomics 2

Microeconomics 2 - ECON2101


	Faculty: Faculty of Commerce and Economics
	School: School of Economics
	Contact: Kriesler,Peter Robert Thomas
	Campus: Kensington Campus
	Career: Undergraduate
	Units of Credit: 6
	Contact Hours per Week: 3
	Enrolment Requirements:
	Prerequisite: ECON1101
	Offered: Semester 1 2005
	Fee Band: 2

Description

Economists believe that in a perfect world, with perfect information, under certain conditions, markets will allocate goods efficiently. Usually, markets do not function in this way. Firms may have market power, which they will exert in strategic ways to influence their rivals to gain advantage. Imperfect information presents a series of problems for firms, consumers and households, particularly for insurance and labour markets.

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