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2021 unit information
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Last updated: 4 June 2021
MAE101
Students will on average spend 150 hours over the teaching period undertaking the teaching, learning and assessment activities for this unit.
1 x 2 hour class and 1 x 1 hour seminar per week
Online independent and collaborative learning activities including 3 scheduled online seminars
This unit aims to extend microeconomics theory introduced in MAE101 to further develop an understanding and ability to undertake economic analysis of consumer’s behaviour, firm’s behaviour and their interaction in a market economy. The topics studied at an intermediate level include: consumer’s choice and demand; firm’s cost and production; economic welfare under various market structures; strategic decision making/behaviour and its impact on the economic markets. The unit allows for a more sophisticated understanding of how various policy levers can affect individual choices and welfare. In the unit’s assessment, students get an opportunity to analyse and reflect on topical contemporary issues. Some past examples include (i) impact of urbanisation and female labour-force participation on family food choices across the world and the implications for climate change (ii) economic logic behind a tendency towards outsourcing and off-shoring of production by businesses in USA and Western Europe (iii) drop in crude-oil prices and their impact on household choices and well-being in oil-importing vs oil-exporting countries.
Analyse individual decision making by consumers and firms and how various market structures affect economic efficiency.
ULO2
Apply relevant microeconomic theories to evaluate real-world managerial and policy issues.
ULO3
Analyse economic issues using geometric and quantitative tools.
ULO4
Communicate microeconomic issues effectively through written English.
These Unit Learning Outcomes are applicable for all teaching periods throughout the year
Quiz 1: Week 6
Quiz 2: Week 10
The assessment due weeks provided may change. The Unit Chair will clarify the exact assessment requirements, including the due date, at the start of the teaching period.
Hurdle requirement: achieve at least 40% of the marks available on the examination
The texts and reading list for the unit can be found on the University Library via the link below: MAE201 Note: Select the relevant trimester reading list. Please note that a future teaching period's reading list may not be available until a month prior to the start of that teaching period so you may wish to use the relevant trimester's prior year reading list as a guide only.
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