Production Economics (AGEC2103)


This unit builds on microeconomic principles studied in first year and applies them to the analysis of firms' decisions. Emphasis is put on the formalization of the firm's problem and in the use of duality. The topics include: production functions (single and multi-output); distance functions and their use in the measurement of productivity; the decomposition of productivity and productivity changes; production under risk; cost and profit functions. N.B. Available to 2nd year students in the Faculty of Economics and Business

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Further unit of study information


2x1-hr lectures/week, 1x2-hr tutorial/week commencing week 2


2 x assignments (40%) and 1x2hr exam (60%)


Collection of readings

Faculty/department permission required?


Unit of study rules

Prerequisites and assumed knowledge

ECON1001 or AGEC1006 or (AGEC1003 and AGEC1004) or RESEC1031



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