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Microeconomics and the Australian Tax System - ATAX0103
Library

 
Faculty: Faculty of Law
 
 
School:  Australian School of Taxation
 
 
Course Outline: See below
 
 
Campus: ATAX Campus
 
 
Career: Postgraduate
 
 
Units of Credit: 6
 
 
EFTSL: 0.12500 (more info)
 
 
Indicative Contact Hours per Week: 0
 
 
Enrolment Requirements:
 
 
Restricted to students enrolled in Program 5541 or 7541
 
 
Excluded: ATAX0003, ATAX0303, ATAX0603
 
 
Fee Band: 3 (more info)
 
 
Further Information: See Class Timetable
 
 

Description

This course provides an introduction to basic microeconomic concepts and skills, and demonstrates their use in order to gain a clear understanding of economic problems and policy issues relevant to the Australian economy. It introduces students to the economic behaviour of small decision-making units such as households, firms and government agencies, with particular reference to the effects of taxation on markets. Emphasis is placed on analytical skills and key concepts which are relevant to tax professionals including, for example, opportunity cost, market equilibrium, elasticity, substitution and income effects, tax incidence and excess burden.


Recommended Prior Knowledge

None

Course Objectives

This course seeks to help you to develop:
  • An ability to recognise economic problems as choice problems arising from scarcity
  • A thorough familiarity with the working of markets through the interaction of demand and supply
  • An understanding the effects of regulation and taxes on the allocation of resources

Main Topics

  • Fundamentals of microeconomics
  • Market demand and supply
  • Consumer behaviour and the demand curve
  • Firm behaviour and the supply curve
  • Market outcomes under perfect competition
  • Market outcomes under other market structures
  • Microeconomics of taxation
  • The use of taxation to correct market failure
  • International trade: theory and policy

Assessment

2 Assignments
1 Exam

Course Texts

Prescribed
Taylor JB, & Frost L, Microeconomics (Milton: John Wiley & Sons, 4th Australian edn, 2009)

The Textbook may be purchased together with a Study Guide as a Value Pack. However, we do not refer to this Study Guide in the study materials at all. You should only purchase it if you think you will use it as a supplementary learning aid.

Citation and Style Guides
The following is a selection of acceptable citation and style guides, which you may use as the basis for your written work. You must purchase or have access to one of the following publications:
  • Rozenberg P, Australian guide to uniform legal citation (Sydney: Lawbook Co, 2nd ed, 2003)
  • Stuhmcke A, Legal referencing (Sydney: Butterworths, 3rd ed, 2005)
  • Australian guide to legal citation (Melbourne University Law Review Association, 2nd ed, 2002) - Available from http://mulr.law.unimelb.edu.au/aglc.asp

Note that in disciplines other than law (ie, Accounting and Economics) the literature in these courses has, for the most part, been written in the Harvard style and in these courses you may prefer to use the Harvard style of referencing. Guides to using the Harvard style can be accessed at the following websites:

http://www.lc.unsw.edu.au/onlib/ref.html
http://www.usq.edu.au/library/infoabout/ref_guides/default.htm

In this course, it is acceptable to use either one of the prescribed legal styles, or the Harvard style. However, whatever style you adopt must be used consistently and correctly - you must not mix one style with another.

Recommended
  • Gans J, King S & Mankiw NS, Principles of Microeconomics (Marrickville: Harcourt, 2nd Australian edn, 2006)
  • Lipsey RG, Langley PC & Mahoney DM, Positive Economics for Australian Students (London: Weidenfeld & Nicolson, 2nd ed, 1985)
  • McTaggart D, Findlay C and Parkin M, Microeconomics (Sydney: Addison-Wesley, 4th ed. 2003)
  • Samuelson PA, Nordhaus WD, Richardson S, Scott G & Wallace R, Microeconomics (Sydney: McGraw-Hill, 3rd Australian ed, 1992)
  • Waud RN & Hocking A, Microeconomics (Sydney: Harper Educational, 2nd Australian ed, 1992)

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© The University of New South Wales (CRICOS Provider No.: 00098G), 2004-2011. The information contained in this Handbook is indicative only. While every effort is made to keep this information up-to-date, the University reserves the right to discontinue or vary arrangements, programs and courses at any time without notice and at its discretion. While the University will try to avoid or minimise any inconvenience, changes may also be made to programs, courses and staff after enrolment. The University may also set limits on the number of students in a course.