UNSW Handbook Course - Microeconomics 2

Microeconomics 2 - ECON2101


	Faculty: Faculty of Business
	School: School of Economics
	Course Outline: http://www.economics.unsw.edu.au/
	Campus: Kensington Campus
	Career: Undergraduate
	Units of Credit: 6
	EFTSL: 0.125 (more info)
	Contact Hours per Week: 3
	Enrolment Requirements:
	Prerequisite: ECON1101
	Fee Band: 2 (more info)
	Further Information: See Class Timetable

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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