MAE201 - Competition and Industry
| Year: | 2024 unit information |
|---|---|
| Enrolment modes: | Trimester 1: Burwood (Melbourne), Waterfront (Geelong), Online Trimester 2: Burwood (Melbourne), Online |
| Credit point(s): | 1 |
| EFTSL value: | 0.125 |
| Prerequisite: | MAE101 |
| Corequisite: | Nil |
| Incompatible with: | MAE206 |
| Study commitment | Students will on average spend 150 hours over the teaching period undertaking the teaching, learning and assessment activities for this unit. This will include educator guided online learning activities within the unit site. |
| Scheduled learning activities - campus | 1 x 1.5 hour online lecture (recordings provided) and 1 x 1.5 hour on-campus seminar (recordings provided) each week. |
| Scheduled learning activities - online | 1 x 1.5 hour recorded lecture each week and 1 x 1.5 hour online seminar in weeks seminar 4, 7, and 10. |
Content
This unit builds upon the microeconomics topics introduced in MAE101 to develop a deeper understanding of how consumers make choices to maximise their well-being and how firms make choices about inputs to minimize their production costs. The unit examines varying degrees of business competition in the marketplace and how this affects the distribution of gains between consumers and businesses. The unit also explores the fundamentals of strategic decision making by introducing game theory, which has broad applications in real-world situations ranging from pricing decisions by competing airline companies to choices about policy platforms of rival political parties competing in elections. In the unit’s assessment, students get an opportunity to analyse and reflect on topical contemporary issues and policy challenges. Some past examples include (i) the impact of changing cost of living pressures on household choices and their well-being, and the role of policy in addressing these challenges (ii) impact of urbanisation and female labour-force participation on family food choices across the world and the implications for climate change (iii) economic logic behind a tendency towards outsourcing and off-shoring of production by businesses in USA and Western Europe.
Unit Fee Information
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