text: ECF3120: Consumer economics - 2019 Handbook - Monash University
  /pubs/2019handbooks/units/ECF3120.html
  Monday, 12-Aug-2019 08:59:28 AEST 21 January 2020
  ECF3120 - Consumer economics - 2019
  ECF2731 or equivalent.
  This unit introduces economic principles underlying consumer choice and market demand; describing consumer preferences, indifference curves and budget constraints, with particular emphasis on the role of prices as conveyors of information. It introduces economic tools and concepts for the analyses of consumption choices over time, under uncertainty and/or with risk, and in markets with asymmetric information. Other topics include work-leisure choice, wage changes and the supply of labour, and the provision of public goods and environmental goods. An examination of observed economic and social outcomes from the point of view of various normative criteria completes the coverage.
  understand economic models of household consumption which explain the allocation of resources over a variety of goods
  understand the allocation of income between savings and consumption, and the allocation of expenditures over the life cycle