THE UNIVERSITY OF NEWCASTLE, AUSTRALIA 
ECON2001: Intermediate Microeconomics 
Final Examination Guide and Notes 2025 
 
Part A: About This Guide 
Part B: Sample Final Examination Paper 
Part C: Suggested Solutions to Final Exam Paper 
Part D: Final Examination - Hints and Tips 
 
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University of Newcastle

University of Newcastle - ECON2001: Intermediate Microeconomics (Solutions)

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ACADEMIC YEAR 2024 - 2025

University	University of Newcastle
Study Level	Undergraduate
Course Code	ECON2001
Course Name	Intermediate Microeconomics
Notes Title	Final Examination Guide and Notes
Page Length	30

This comprehensive study aid will help you understand how the ECON2001: Intermediate Microeconomics - Final Examination 2025 at the University of Newcastle will be assessed, structured, and the likely style and range of questions. The document has been thoroughly revised to incorporate the most recent updates from the latest edition of the exam. You do not need to be an expert in the course; you just need a basic understanding and the ability to quickly recall the information that you learned. Use this guide as a reference tool to deepen your comprehension of key topics and enhance your performance during the end-of-semester final examination.

Intermediate microeconomics expands on the concepts and ideas developed in the previous subject (ECON1001), building applicable models and tools for empirical analysis. Students are introduced to microeconomic models of the market including the individual decision- maker, the household and the firm in order to measure and understand market forces, constraints and failures. Additionally, students analyse the impact of Market Failure, Behavioural Economics, Public Policy, Market Power, Poverty and Welfare. By the end of the course, students should have an intermediate (i.e., more advanced) understanding of economic models and how to apply them to a number of important economic problems, from business, industry, politics, society and the environment. This course is designed for students who have successfully completed introductory economics (ECON1001). ECON2001 extends microeconomic principles to analyse and model economic events at the local, national and international levels. While the mathematics requirement for this course is not advanced, basic math is essential to be able to fully grasp and apply the material. This subject is the entry point into the study of the more advanced economic specialisations such as behavioural and experimental economics, industrial organisation, labour economics, health economics, property economics and game theory.

✔ (Summary) Main topics:

Economic Models
Utility, Choice and Demand
Market Structures
Uncertainty
Game Theory
Production, Costs and Supply
General Equilibrium and Welfare
Market Failures
Behavioural Economics

COURSE CODE	COURSE NAME
ACFI1001	Accounting for Decision Makers
ACFI1002	Accounting Practice
ACFI1003	Introduction to Finance
ACFI2003	Management Accounting
ACFI2012	Accounting for Corporate Entities
ACFI2070	Business Finance
ACFI2080	Corporate Finance
ACFI3004	Taxation
ACFI3018	Portfolio Management
ACFI3130	Derivative Securities
ECON1001	Microeconomics for Business Decisions
ECON1002	Macroeconomics in the Global Economy
ECON1003	Basic Econometrics and Quantitative Modelling
ECON2001	Intermediate Microeconomics
ECON2004	Money and Banking
LEGL1001	Foundations of Law
MKTG1001	Foundations of Marketing
MNGT1001	Introduction to Management
STAT1060	Business Decision Making
STAT1070	Statistics for the Sciences

University of Newcastle - ECON2001: Intermediate Microeconomics (Solutions)

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