THE UNIVERSITY OF NEWCASTLE
ECON2001 - Intermediate Microeconomics
Final Examination Guide and Notes 2023
 
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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Intermediate Microeconomics (ECON2001) - University of Newcastle

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ACADEMIC YEAR 2022 - 2023

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

For ECON2001 students at the University of Newcastle preparing for their final exam, this study guide is an indispensable resource. It covers key economic topics and concepts, equipping students with the skills to apply various economic models to real-world economic problems. The guide includes a sample exam paper with detailed, step-by-step solutions and a marking scheme to help them assess their comprehension and minimise mistakes in the actual examination. The guide's content has undergone meticulous review to ensure alignment with the course's learning outcomes and objectives, making it an invaluable tool for ECON2001 students striving for academic excellence.

ECON2001 Intermediate micro-economics is a course that expands upon the concepts introduced in the introductory course (ECON1001) by introducing microeconomic models of the market, including individual decision-makers, households, and firms. Students learn how to measure and understand market forces, constraints, and failures, as well as how to analyse the impact of market failure, behavioural economics, public policy, market power, poverty, and welfare. The course is designed for students who have completed the introductory economics course and have a basic understanding of mathematics. By the end of the course, students will have an intermediate understanding of economic models and their applications to important economic problems in business, industry, politics, society, and the environment. Upon successful completion of the course, students will be able to critically assess traditional approaches to consumer and producer behaviour, apply microeconomic concepts to inform business decisions and governance, demonstrate proficiency in utilising numerical and graphical techniques, and apply microeconomic theory to explain real-world economic events and debates.

Major topics to be covered include:

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

Intermediate Microeconomics (ECON2001) - University of Newcastle

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