ECON5510 Consumer Behaviour and Demand Analysis
- 6 points
Availability Location Mode Semester 2 UWA (Perth) Face to face
- This is an advanced unit focusing on the economics of consumer behaviour and the specification and estimation of demand systems for agricultural commodities. The unit provides students with analytical skills valued by employers of agricultural economists and natural resource managers such as government departments, private sector organisations and research institutions. The focus of the unit is on understanding consumer theory—constrained utility maximisation, derivation of demand functions, properties of demand functions, and duality in the theory of consumer choice. Also covered is the development and estimation of both single equation and demand system models and the assessment and interpretation of empirical results. The unit equips students with the knowledge and skills required to undertake advanced economic analysis of consumer demand problems. At the end of the unit, students have a thorough understanding of the underlying theory of consumer behaviour and can formulate, estimate and test complete systems of consumer demand equations.
- Students are able to (1) understand the economic theory that underpins consumer analysis, and think about economic and research problems in logical and systematic ways and (2) appreciate data and statistical issues related to consumer theory.
- Typically this unit is assessed in the following ways: (1) quizzes; (2) assignments; and (3) take-home examinations. Further information is available in the unit outline.
Supplementary assessment is not available in this unit.
- Unit Coordinator(s)
- Associate Professor Atakelty Hailu
- Unit rules
- enrolment in the Master of Agricultural Economics (73530)
the Master of Economics (42620)
the Master of Agricultural Science (72510)
the Master of Science (70630)
honours in the Faculty of Science
honours in the Business School
- Advisable prior study:
- ECON5004 Microeconometric Models for Agriculture and Natural Resources
ECON5003 Fundamental Microeconomics for Agriculture and Policy
- Contact hours
- lectures/Practical Classes: 3 hours per week for 10 weeks
Deaton, A. and Muellbauer, J. Economics and Consumer Behavior: Cambridge University Press 1980
Okrent, A. M. and Alston, J. M. Demand for Food in the United States: a Review of Literature, Evaluation of Previous Estimates and Presentation of New Estimates of Demand', Giannini Foundation Monograph Series, No. 48: Giannini Foundation of Agricultural Economics 2011
Debertin, D. L. Agricultural Production Economics, 2nd edn: privately published 2012. Available online at: http://www.uky.edu/~deberti/prod/AgprodCD2007/
Coelli, T., Rao, D. S . P., O’Donnell, C. J. and Battese, G. E. An Introduction to Efficiency and Productivity Analysis: Springer 2005
Chambers, R. Applied Production Analysis: a Dual Approach: Cambridge University Press 1988
- The availability of units in Semester 1, 2, etc. was correct at the time of publication but may be subject to change.
- All students are responsible for identifying when they need assistance to improve their academic learning, research, English language and numeracy skills; seeking out the services and resources available to help them; and applying what they learn. Students are encouraged to register for free online support through GETSmart; to help themselves to the extensive range of resources on UWA's STUDYSmarter website; and to participate in WRITESmart and (ma+hs)Smart drop-ins and workshops.
- Books and other material wherever listed may be subject to change. Book lists relating to 'Preliminary reading', 'Recommended reading' and 'Textbooks' are, in most cases, available at the University Co-operative Bookshop (from early January) and appropriate administrative offices for students to consult. Where texts are listed in the unit description above, an asterisk (*) indicates that the book is available in paperback.