Microeconomics (Competitive Markets and Government Policy)
Area of Study
Economics, Government, Public Policy Studies
Taught In English
Course Level Recommendations
ISA offers course level recommendations in an effort to facilitate the determination of course levels by credential evaluators.We advice each institution to have their own credentials evaluator make the final decision regrading course levels.
Recommended U.S. Semester Credits2
Recommended U.S. Quarter Units3
Hours & Credits
Following on from EC101A, this module introduces students to some of the other core issues that affect the behaviour of economic agents. Topics to be analysed include: production; production costs; profit maximization; perfect competition; monopoly; oligopoly; monopolistic competition; government intervention; externalities; public goods.
On successful completion of the module, students should be able to:
-Determine the explicit and implicit costs and benefits of economic behaviour.
-Illustrate the conditions required for optimal decision making by economic agents.
-Show how the optimal choices of economic agents are affected by whether they are operating in the short run or the long run.
-Outline how the incentives of economic agents are affected by the market structure in which they operate.
-Outline how market outcomes are affected by market structure.
-Illustrate how market failure can occur and how market efficiency can be achieved.
-Determine what private actions and public policies can be implemented to offset market failure.
Teaching & Learning methods:
Continuous Assessment: 25%
University scheduled written examination: 75%
Continuous Assessment detail(s): Students will be required to undertake a multiple choice examination that is worth a minimum of 10% and a maximum of 20% of overall module marks. Students may be required to submit a maximum of two assignments, with a maximum combined weight of 10% of overall module marks. 5% of overall module marks will be awarded for attending a specific number of tutorials.
Courses and course hours of instruction are subject to change.
Credits earned vary according to the policies of the students' home institutions. According to ISA policy and possible visa requirements, students must maintain full-time enrollment status, as determined by their home institutions, for the duration of the program.
ECTS (European Credit Transfer and Accumulation System) credits are converted to semester credits/quarter units differently among U.S. universities. Students should confirm the conversion scale used at their home university when determining credit transfer.
Please reference fall and spring course lists as not all courses are taught during both semesters.
Please note that some courses with locals have recommended prerequisite courses. It is the student's responsibility to consult any recommended prerequisites prior to enrolling in their course.