General Course Information

Course Code :  ECON3121

Year :  2026

Term :  Term 1

Teaching Period :  T1

Course Details & Outcomes

Course Description

What drives the behaviour of irms and industry dynamics in the modern economic landscape? This course studies the behaviour of irms and industry sectors, with a focus on competition outcomes and market dynamics. Through an exploration of market structures (including perfect competition, monopoly, and oligopoly), dynamic strategic interaction, price discrimination, product differentiation, advertising, entry and predation, it connects theoretical concepts with real-world relevance.

By the end of the course, you will develop a deep understanding of the economic forces at play in real-world markets and how they come together to drive economic policy.

Course Aims

The course aims to identify and solve the economic problems faced by managers in assessing decision-making trade-offs, justifying the proposed solutions with evidence and policy implications.

Relationship to Other Courses

Prerequisite: ECON2101 Microeconomics 2

It is also useful but not compulsory to have taken ECON2112 Game Theory and Business Strategy before this course.

This course is offered as part of the economics stream in the Bachelor of Economics and Bachelor of Commerce degrees. It builds upon the basic theories learned in ECON1101 (and ECON2101) using the mathematical tools learned in ECON1202 and ECON1203.  Additionally, it complements ECON3123 Organisational Economics, and acts as a springboard for more advanced courses in industrial organisation and organisational economics.

Course instructors will aim to provide meaningful and timely feedback to students to support their learning.

With structured guidance, students are expected to take increasing responsibility for their own learning and to actively participate in the learning process.

Learning Activities and Teaching Strategies

This course is offered through lectures and weekly tutorials, complemented by an active course website that hosts the discussion forum.

Lectures

The purpose of lectures is to provide a logical structure for the topics that make up the course, to emphasise the important concepts and methods of each topic, and to provide relevant examples to which the concepts and methods are applied. Lecture recordings when available will be accessible on Moodle.

Tutorials

Tutorials are an integral part of the course. Tutorial discussion questions and problems will build on the material discussed in lectures. Tutorial recordings when available will be accessible on Moodle.

Examinable Content

The examinable content of the course is determined by all the material covered during classes, the activities undertaken during classes, the assigned readings, any practice materials and exercises, and any other required material provided by the Lecturer-in-Charge.

Out-of-Class Study

At UNSW, a standard 6 UoC course is expected to require approximately囚15hours囚oflearning per week, including class contact hours, self-directed study, and preparation and time spent on all assessable work.

While classes provide structure and guidance, most learning takes place outside the classroom. Independent study is thus essential to success in this course. An effective study approach might include:

·   Reading the relevant materials (e.g., lecture notes, textbook chapters) before lectures to develop a broad understanding of the topics.

·  Attempting the relevant practice questions and/or exercises prior to workshops or tutorials to assess your understanding and identify areas that need clariication.

·  Attending and actively participating in classes (including PASS), asking and answering questions, taking notes and interacting with course instructors and peers.

·  Regularly reviewing all the material (including assessment items) to reinforce learning.

Online Classes

If you enrol in an online class, or in the online stream of a multimodal class, teaching and associated activities will be conducted using Teams, Zoom, or similar a technology. Using a webcam is optional, but highly encouraged, as this will facilitate interaction with your peers and course instructors. If you are worried about your personal space being observed during a class, we encourage you to blur your background or make use of a virtual background. Please contact the School of Economics if you have any questions or concerns.

Online Exams

If your course involves undertaking an online exam, your own computer or digital device will be required. Monitoring of online examinations will be conducted directly by University staff and is bound by the University's privacy and security requirements. Any data collected will be handled accordance with UNSW policies and standards for data governance. For more information on how the University manages personal information please refer to the UNSW Student Privacy

Statement and the UNSW Privacy Policy.

Assessments

Assessment Structure