Microeconomics 2 - ECON2101
Faculty: Australian School of Business
School: School of Economics
Course Outline: ECON2101 Course Outline
Campus: Kensington Campus
Career: Undergraduate
Units of Credit: 6
EFTSL: 0.12500 (more info)
Indicative Contact Hours per Week: 3
Enrolment Requirements:
Prerequisite: ECON1101 and ECON1202
CSS Contribution Charge: 3 (more info)
Tuition Fee: See Tuition Fee Schedule
Further Information: See Class Timetable
View course information for previous years.
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.