WESTERN SYDNEY UNIVERSITY

ECON 1014: Consumers, Firms and Markets

Final Examination Guide and Notes 2026

- Part 01. Revision Notes

- Part 02. Sample Final Examination Paper

- Part 03. Suggested Solutions to Final Exam Paper

- Part 04. Final Examination - Hints and Tips

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ECON 1014: Consumers, Firms and Markets (Solutions) - WSU

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ACADEMIC YEAR 2025 - 2026

University	Western Sydney University
Study Level	Undergraduate
Subject Code	ECON 1014
Subject Name	Consumers, Firms and Markets
Notes Title	Final Examination Guide and Notes
Format	PDF
Page Length	121

Prepare for the ECON 1014: Consumers, Firms and Markets exam at Western Sydney University with this complete set of exam notes. It explains how the final exam is organised, the likely style and range of questions, and how to avoid common mistakes. Inside you’ll find sample exam papers, solutions, step-by-step explanations, and final-exam hints and tips. It has been updated to match the latest exam content, so you can revise with focus and confidence.

This subject is an introduction to microeconomics. It provides students with an understanding of basic concepts such as value, rational consumer behaviour, the behaviour of firms in various market structures, the efficiency and failings of markets, the distribution of wealth and income, and the role of government regulation and intervention. It illuminates these concepts by considering and debating their application to contemporary economic and social issues such as: the influence of marketing on consumer choices, the concentration of market power in Australian industries, rising income and wealth inequality, minimum wage laws, and governmental responses to environmental problems and climate change.

✔ Learning Outcomes:

Upon completion of this subject, graduates will be able to:

Apply microeconomic concepts to contemporary economic settings
Apply geometric and mathematical concepts and techniques of analysis
Interpret basic theoretical models of market structures
Explain how microeconomic concepts have informed public policy debate on a variety of contemporary politico-economic issues
Analyse critically with respect to theory and policy

SUBJECT CODE	SUBJECT NAME
ACCT 1005	Accounting in Context
ACCT 1010	Management Accounting Fundamentals
ACCT 2005	Techniques in Financial Accounting
ACCT 3003	Accounting Standards and Governance
BUSM 1027	Organisational Behaviour
ECON 1003	Financial Institutions and Markets
ECON 1006	Introduction to Economic Methods
ECON 1011	Principles of Economics
ECON 1013	The Australian Macroeconomy
ECON 1014	Consumers, Firms and Markets
ECON 2002	Corporate Financial Management
ECON 2007	Macroeconomic Theory
ECON 3001	Applied Econometrics
ECON 3003	Derivatives
ECON 3006	Economic and Financial Modelling
FINC 3008	Investment Management
FINC 3015	Security Analysis and Business Valuation
LAWS 1001	Enterprise Law
LAWS 3070	Taxation Law
MATH 1030	Statistics for Business
MKTG 1006	Marketing Principles

ECON 1014: Consumers, Firms and Markets (Solutions) - WSU

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