THE UNIVERSITY OF NEWCASTLE 
ECON1001: Microeconomics for Business Decisions 
* Final Examination Guide and Notes 2024 
 
- 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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University of Newcastle

University of Newcastle - ECON1001: Microeconomics for Business Decisions

$35.00

ACADEMIC YEAR 2023 - 2024

University	University of Newcastle
Study Level	Undergraduate
Course Code	ECON1001
Course Name	Microeconomics for Business Decisions
Notes Title	Final Examination Guide and Notes
Format	PDF
Page Length	121

* Reinforce and practise the skills learned with step-by-step support from our best tutors in ECON1001: Microeconomics for Business Decisions - at the University of Newcastle; helping you achieve your maximum potential. This complete revision guide covers everything for the course, providing a comprehensive evaluation of all examinable topics. Every learning outcome that can be tested is explored in-depth, and diagrams are provided to aid retention. This guide is extremely helpful for you in revising all the topics and preparing for the exam!

- This course examines how individual economic units (households and firms) make choices and interact in markets to determine prices and allocation of scarce resources. This course introduces students to the core microeconomic concepts and principles to help them develop an understanding of issues of scarcity and choice and the constraints of economic agents. Additionally, it covers topics such as specialisation and exchange, market structures of perfect competition, monopoly, monopolistic competition and oligopoly, elasticity, costs of production, efficiency and government intervention, poverty, inequality and discrimination. The course also provides an understanding of the causes of market failure and how public policy can address these problems. By the end of this course, students will be well-equipped with the core microeconomic concepts and principles to describe and evaluate contemporary issues affecting households and businesses and make effective business decisions.

✔ Main topics to be covered:

Economics of Life, Specialisation & Exchange
Markets: Demand and Supply & Market Equilibrium
Elasticity
Efficiency
Government Intervention
Game Theory & Strategic Thinking
Information
The Costs of Production
Perfect Competition & Monopoly
Monopolistic Competition and Oligopoly
Externalties, Public Goods & Common Resources
Poverty, Inequality & Discrimination

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 - ECON1001: Microeconomics for Business Decisions

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