Introductory Microeconomics addresses the economic decisions of individual firms and households and how these interact in markets. Economic issues are pervasive in contemporary Australian society. Introductory Microeconomics introduces students to the language and analytical framework adopted in Economics for the examination of social phenomena and public policy issues. Whatever one's career intentions, coming to grips with economic ideas is essential for understanding society, business and government. Students are given a comprehensive introduction to these ideas and are prepared for the advanced study of microeconomics in subsequent years. Prior knowledge of mathematics is assumed.

Introductory Macroeconomics addresses the analysis of the level of employment and economic activity in the economy as a whole. Introductory Macroeconomics examines the main factors that determine the overall levels of production and employment in the economy, including the influence of government policy and international trade. This analysis enables an exploration of money, interest rates and financial markets, and a deeper examination of inflation, unemployment and economic policy. It is assumed that students undertaking this unit will have a prior knowledge of mathematics.

This unit builds on fundamental economics knowledge to develop concepts that are key to the fields of agricultural economics, environmental economics and natural resource economics. Some globally significant themes, such as food security; sustainable agricultural production; climate change; resource/environmental limits and scarcity; biotechnology and innovation; air and water pollution; environment/agriculture interactions; and sustainable development will be used to illustrate the studied concepts.

The aim of Intermediate Microeconomics is the development of theoretical and applied skills in economics. It covers applications and extensions of the theory of consumer choice, firm behaviour and market structure. Emphasis is given to the economics of information and choice under uncertainty; industry structures other than monopoly and perfect competition; markets for factors of production; general equilibrium and economic efficiency; market failure and the role of government. This unit provides a basis for the more specialised options that comprise third year economics.

This unit is comprised of lectures based upon the curriculum for ECOS2001 Intermediate Microeconomics, supported by a seminar for one hour a week. The content of lectures reflect a more analytical and critical treatment of the topics than ECOS2001. The topics, which build on the theory of consumer and firm behaviour and market structure, include game theory, oligopoly, general equilibrium and welfare, externalities and public goods and the economics of information.

This unit of study is concerned with the application of microeconomic principles to management decisions in agricultural production systems. It builds on the theoretical knowledge acquired in previous studies and introduces the methods of applied economic analysis through a range of topics including: production, cost and profit functions; methods for the measurement of productivity; optimisation in biological production systems; and production under risk. The unit introduces the linear programming technique to solve decision making problems encountered by agribusiness and natural resource firms and managers in public agencies.

The natural environment is invariably affected by production and consumption in our modern economy. In particular, environmental outcomes are important in the presence of market failures (externalities and public goods). This unit focuses on developing a student's detailed understanding of the economic techniques used by policymakers to address environmental issues. These techniques include: Pigovian taxes and subsidies; regulation with asymmetric information; marketable permits; pricing contributions for public goods; optimal damages; and the allocation of property-rights and market failures.

This unit builds on the principles of biological production economics and introduces optimisation methods to solve decision making problems encountered by agribusiness and natural resource firms and managers in public agencies. The principle focus is on the application of linear programming techniques, and students learn to consider solving decision making problems where the outcomes are not known with certainty, and where the timing of decisions is of essence.

This unit of study is designed to provide an understanding of the underlying forces driving agricultural markets. It addresses price analysis and efficiency, including aspects of form, time and space in agricultural marketing; information and contracts; changing consumer concerns (food safety, ethical production); futures market and other risk sharing devices. Building on the application of microeconomic theory to both production and consumption in agricultural markets, its content is analytical. The unit also investigates some of the forces which prevent the efficient operation of world agricultural markets, including impediments to trade, imperfect markets for inputs and outputs and market power along the agricultural supply chain.

The unit builds on previously acquired economics training and develops advanced understanding of the economics of minerals exploration, extraction and marketing and the economics of energy generation, distribution and use. The implications of mineral extraction and energy generation activities for natural resources and the environment are explored. The unit will foster in-depth knowledge of the markets for minerals and energy, their industry structure and business environment, including the role of markets for derivatives on minerals and energy commodities.

This unit develops knowledge and skills in natural resource economics built on previously gained economics training. The economics of dynamic natural systems is studied through application of advanced modelling approaches. Particular emphasis is given to the economic mechanisms for managing water and biological resources including property rights, water allocation, and water markets. Key policy instruments, taxes, quotas, standards are analysed; Institutional and policy aspects will also be considered via analysis of water policy reform in Australia and elsewhere.

Agricultural production is typically risky, adding complexity to decision analysis and increasing need of risk consideration in agricultural policy design. This unit explores this theme, and has two related components: risk and risk management in agriculture, and issues of agricultural producer finance. These two components cover a broad range of topics that incorporate production risk and other sources of risk in agriculture.

Foundational concepts in welfare economics, such as economic efficiency, criteria for assessing social welfare improvements, and economic surplus measures, are analysed in detail and applied to project evaluation and policy assessment. Procedures of conducting a benefit-cost analysis are presented, and tools of non-market valuation for public goods and environmental assets are covered in detail. These techniques include both stated and revealed preference techniques, including contingent valuation, choice modeling, hedonic pricing and travel cost methods.

Study of a special topic in Economics. Topics will vary from semester to semester according to staff availability and the presence of visitors. If taught in both semesters, the topic in Semester 2 will be different to that of Semester 1.

This unit of study is concerned with the application of economic principles to problems in an interdisciplinary context. It builds on theoretical knowledge acquired in previous studies and introduces methods of applied economic analysis to real-world problems. Initially, a research problem will be presented by a guest lecturer. Supporting lectures will be delivered by the unit coordinator on the nature of research, appropriate theoretical concepts, quantitative methods and communication. Students will have an opportunity to define a research problem, conduct a literature review, analyse data, and present research results in an interdisciplinary context.

This interdisciplinary unit provides students with the opportunity to address complex problems identified by industry, community, and government organisations, and gain valuable experience in working across disciplinary boundaries. In collaboration with a major industry partner and an academic lead, students integrate their academic skills and knowledge by working in teams with students from a range of disciplinary backgrounds. This experience allows students to research, analyse and present solutions to a real¿world problem, and to build on their interpersonal and transferable skills by engaging with and learning from industry experts and presenting their ideas and solutions to the industry partner.