Microeconomics

Qualification: Undergraduate unit
Study mode: Online
Payment options: HECS-HELP may be available
FEE-HELP may be available
Duration: 13 weeks
Start date: Enquire now for upcoming start dates
Awarded by: Swinburne University
Course Unit A course unit is a single subject offered as part of a program of study, but can be completed individually. You may receive Recognition of Prior Learning for studying this unit.

Want more course info?

FREE CALL 1800 063 523

Monday to Friday: 8am - late
Saturday and Sunday: 9am - 5pm

About this unit

This online Microeconomics unit from Open Universities Australia and Swinburne University is a great way for business professionals to learn exactly how consumers and producers interact in today’s marketplace.

The knowledge and ability to analyse the complex relationship between consumers and businesses is a valuable skillset that is sure to bolster your career potential and employability.

By learning the basics of supply and demand, and delving deeper into subjects such as economic models, price mechanisms and market characteristics, students walk away from this unit with an enhanced understanding of microeconomics and how it can be applied to their own companies or business ventures.

Eligibility

You cannot enrol in this unit if you have completed the following units because they are considered to be academic equivalents:

Areas of study

In this microeconomics unit, the topics you will study include:

  • Scarcity, choice and opportunity cost: economics, issues, methods and graphs; scarcity, choice, opportunity cost and efficiency
  • Demand, supply and market equilibrium: demand and its determinants and supply and its determinants; market equilibrium: price and quantity
  • Elasticity and applications of demand and supply: elasticity; government intervention in markets
  • Behavioural economics
  • Marginal cost and diminishing returns
  • Alternate market structures
  • Market failure
  • The role of government

Course pathways

This unit is a core requirement in the following courses:

Content may also be relevant to other courses, and could qualify you for Recognition of Prior Learning (RPL) for a course offered by another institution.

Get more information

Want more information about this unit? Fill out the enquiry form to the right and a study consultant will contact you with the details you need.

How will this unit advance my career?

Whether you’re a business student or business professional, this microeconomics unit will advance your understanding of how consumers and products interact within the marketplace – a handy knowledge base that is sure to give your career an edge.

Once you have completed this unit, you’ll be able to:

  • Identify the various methodologies used in economics
  • Explain the nature of economic problems, and the role that markets play in facilitating this
  • Have greater insight into why firms charge the prices they do, and produce the quantities that they do; and an understanding of what industrial characteristics determine this
  • Understand the relationship between variations in pricing and output, with variations in industry structure and competitiveness
  • Identify factors that influence a firm’s efficiency and productivity
  • Reflect upon situations in which market forces fail to allocate resources in a socially conscious manner (for instance, to address pollution and climate change); and propose ways the government might remedy these failures
  • Effectively analyse and communicate solutions that demonstrate an understanding of the economic, social and environmental facets of a problem

How else will I benefit from this unit?

  • Upon successful completion of this unit you will receive credit for competencies in Microeconomics from Swinburne University of Technology.
  • Studying online means you can study where you want, at your own pace.
  • Gain industry-relevant skills and transferrable knowledge.
  • Government financial support through FEE-HELP or HECS-HELP is available.
  • Studying single units allows you the flexibility to work towards a qualification at your own pace.
  • Receive Recognition of Prior Learning (RPL) for this unit across a number of OUA’s full degree programs.

Get more information

Want more information about the career benefits of this unit? Fill out the enquiry form to the right and a study consultant will contact you with the details you need.

Financial assistance

If you are an Australian citizen you may be eligible to receive HECS-HELP or FEE-HELP for this unit, meaning you can defer payment of your fees.

Get more information

Want more information about financial and student support? Fill out the enquiry form to the right and a study consultant will contact you with the details you need.

You may be eligible to receive HECS-HELP or FEE-HELP for this course!

This course can be paid for through the HECS-HELP or FEE-HELP government loan schemes. If you are an Australian citizen or hold a permanent humanitarian visa, this means you don’t need to pay upfront.

Instead, the Australian government will pay your course fees on your behalf. You’ll begin repaying your loan through the tax system once you start earning more than the minimum threshold of $54,869 (2016-17 income year).

Find out more about government study loans here.
For two decades, Open Universities Australia (OUA) has partnered with leading Australian educators to make tertiary-level courses easier to access for people, no matter their background, their work status or their other life commitments. OUA has built up their reputation by making education more flexible, easier to tailor and available almost entirely online.

OUA's devotion to online education remains to this day, but where they once focused on higher education, today they offer the broadest set of post-secondary education and training programs in Australia.
Open Universities Australia offers a range of administrative and student support options. As a student of OUA you will have access to four hours of free expert tutoring support for each unit undertaken through the tutoring service SMARTHINKING. This on-demand service allows you to get fast, detailed feedback on your assignment drafts and gives you access to your tutor in real time.

The My OUA portal is an online student medium that allows you access to all your course and enrolment information as well as access to student forums and assessment tips.

Get more information

Want more information about the career benefits of this course?
Fill out the enquiry form to the right and a study consultant will contact you with the details you need.

FREE CALL 1800 063 523

Monday to Friday: 8am - late
Saturday and Sunday: 9am - 5pm

Over 1,000 accredited online courses from leading Australian universities, TAFEs and colleges