Building upon material introduced in Microeconomics 1, this course aims to provide a solid understanding of basic microeconomic theory and the ability to apply those tools and ideas. Models describing the economic behaviour of individual decision-makers and the outcomes of markets are developed and applied to examine the welfare of market participants. Questions addressed include: What influences consumer demand decisions and how? How do firms decide on how much to produce and how much inputs to use? How do prices function to coordinate economic activity? What is meant by economic efficiency? When do markets fail to achieve efficient outcomes? Training in economic analysis is achieved via weekly tutorials that go over problem sets linked to material presented in lecture. Overall, the course takes an analytical approach emphasising rigorous logical reasoning and economic problem solving.
Learning Outcomes
Upon successful completion, students will have the knowledge and skills to:
- describe the main microeconomic/neoclassical theory of consumer and producer behaviour
- apply economic concepts to solve for choices made by consumers and producers
- assess the economic efficiency of market outcomes for different market structures, in the presence of externalities, and/or when influenced by government intervention
- compare and contrast the information needed for markets or for the government to allocate resources efficiently
Research-Led Teaching
The material taught in this course is directly relevant to various applied microeconomic research topics that have been considered by economists in academia, various public sector agencies, and various private sector organisations. Professor Meagher has made significant contributions to the theory, empirics and practice of Organisational Economics and this will be reflected in the way the class extends beyond the standard textbook material.
Field Trips
n.a
Additional Course Costs
n.a
Examination Material or equipment
Online quizzes/short answers/workshops will be conducted through the class Wattle Site. A stable and reliable internet connection is necessary. A calculator or equivalent will be required.
Required Resources
Nicholson, W., & Snyder, C., 2020, Intermediate Microeconomics and its Applications, 13th edition, Cengage Learning, USA (physical or ebook). You can probably get by with the 12th edition (chapter numbers are slightly different but the chapter titles are easy to match).
The text book is available online and in Chifley Library on 2hr reserve. The 12th edition is available through the ANU library.
Recommended Resources
See course Wattle site for readings and other resources.
Staff Feedback
Students will be given feedback in the following forms in this course:
- Graded quizzes and answers.
- Graded short answers with verbal feedback in tutorials.
- Video feedback on Workshops.
- Verbal feedback upon request during consultation hours and tutorials.
Student Feedback
ANU is committed to the demonstration of educational excellence and regularly seeks feedback from students. Students are encouraged to offer feedback directly to their Course Convener or through their College and Course representatives (if applicable). Feedback can also be provided to Course Conveners and teachers via the Student Experience of Learning & Teaching (SELT) feedback program. SELT surveys are confidential and also provide the Colleges and ANU Executive with opportunities to recognise excellent teaching, and opportunities for improvement.
Other Information
Work-Load Expectations
The amount of work required for successful completion of this class may vary between students. As a rough guide, students should expect to devote at least 10 hours a week to this class. This should include all of the following.
- 3-4 hours a week: lectures and lecture recordings.
- 1 hour a week: tutorials.
- At least 5-6 hours a week: reading, research, writing, lecture and tutorial preparation.
Attendance Expectations
As a general rule, students should aim to attend all lectures and tutorials for this class unless they have a very good reason for not doing so. Recognising that occasional absences are often unavoidable, students are expected to attend at least 80 per cent of all lectures and tutorials (combined) for this class. The main exceptions to this are absences for medical or other reasons that can be supported by an appropriate form of official documentation.
Class Schedule
| Week/Session | Summary of Activities | Assessment |
|---|---|---|
| 1 | Consumer Utility and Choice | Chapter 3 (background Chapters 1 and 2) of N&S |
| 2 | Demand and Comparative Statics | Chapter 4 N&S |
| 3 | Uncertainty, Strategy and Time | Chapter 5, 15 N&S, + readings made available on Wattle; Online Workshop #1 (Week 3) |
| 4 | Uncertainty, Strategy and Time | Chapter 6, 5, 14 N&S, + readings made available on Wattle; Online Workshop #2 (Week 4) |
| 5 | Institutions | Readings on Wattle (background Chapter 15 N&S). Online quiz #1 (Week 5) |
| 6 | Production | Chapter 7 N&S, + readings made available on Wattle. Online Workshop #3 (Week 6) |
| 7 | Costs in SR and LR | Chapter 8 N&S; |
| 8 | Profit maximisation and supply | Chapter 9 N&S. Online short answer (Week 8) |
| 9 | Perfect Competition, General Equilibrium and Welfare | Chapter 10 & 11 N&S; Online Workshop #4 (Week 9) |
| 10 | Market Power | Chapter 12 &13 N&S + readings on Wattle. Online Workshop #5 (Week 10) |
| 11 | Market Power and Strategic Behaviour | Chapter 12 &13 N&S + readings on Wattle; Online quiz #2 (Week 11) |
| 12 | Information and/or Political Economy | Chapter 16 N&S + readings on Wattle |
Tutorial Registration
Tutorials this semester will be delivered in person on campus. A Zoom tutorial(s) will be available for students who are unable to be in Canberra due to international travel restrictions. You are expected to attend one tutorial each week from Week 2 onwards. Use MyTimetable to enroll in a tutorial. ANU utilises MyTimetable to enable students to view the timetable for their enrolled courses, browse, then self-allocate to small teaching activities / tutorials so they can better plan their time. Find out more on the Timetable webpage. https://www.anu.edu.au/students/program-administration/timetabling]
Assessment Summary
| Assessment task | Value | Due Date | Return of assessment | Learning Outcomes |
|---|---|---|---|---|
| Online quiz 1 | 7 % | 22/03/2023 | 30/03/2023 | 1,2,3,4 |
| Online Quiz 2 | 7 % | 18/05/2023 | 25/05/2023 | 1,2,3,4 |
| Online Short Answer | 15 % | 24/04/2023 | 08/05/2023 | 1,2,3,4 |
| Online Workshops | 8 % | * | * | 1,2,3,4 |
| FInal Exam | 63 % | * | * | 1,2,3,4 |
* If the Due Date and Return of Assessment date are blank, see the Assessment Tab for specific Assessment Task details
Policies
ANU has educational policies, procedures and guidelines , which are designed to ensure that staff and students are aware of the University’s academic standards, and implement them. Students are expected to have read the Academic Integrity Rule before the commencement of their course. Other key policies and guidelines include:
- Academic Integrity Policy and Procedure
- Student Assessment (Coursework) Policy and Procedure
- Special Assessment Consideration Guideline and General Information
- Student Surveys and Evaluations
- Deferred Examinations
- Student Complaint Resolution Policy and Procedure
- Code of practice for teaching and learning
Assessment Requirements
The ANU is using Turnitin to enhance student citation and referencing techniques, and to assess assignment submissions as a component of the University's approach to managing Academic Integrity. For additional information regarding Turnitin please visit the Academic Skills website. In rare cases where online submission using Turnitin software is not technically possible; or where not using Turnitin software has been justified by the Course Convener and approved by the Associate Dean (Education) on the basis of the teaching model being employed; students shall submit assessment online via ‘Wattle’ outside of Turnitin, or failing that in hard copy, or through a combination of submission methods as approved by the Associate Dean (Education). The submission method is detailed below.
Moderation of Assessment
Marks that are allocated during Semester are to be considered provisional until formalised by the College examiners meeting at the end of each Semester. If appropriate, some moderation of marks might be applied prior to final results being released.
Participation
Lectures will be face to face. The face to face lectures will be recorded on Echo 360 and available soon after the lectures on the course Wattle page. The face to face component may change subject to panademic isolation rules (hopefully not).
Live tutorials (face to face and online) will occur from week 2. Tutorials for this course are a learning activity and include a significant discussion-based component. Worked solutions are not provided because they would not effectively compensate for missing a tutorial. Worked solutions imply that there is a unique correct solution and are therefore in opposition to the development of professional judgement, which is a key part of this course. Students who, through unavoidable and unplanned occurrences, are unable to attend a tutorial one week are encouraged to work through the problems and attend a consultation session to discuss any questions they have about their solutions.
Details on the delivery of this course and expectations of student participation are outlined in further detail on the Wattle course site in O-week. Attendance at lectures and tutorials, while not compulsory, is expected in line with “Code of Practice for Teaching and Learning”, clause 2 paragraph (b).
Examination(s)
Delivered on-line and moderated. They will be open book. Calculators are recommended.
As a further academic integrity control, students may be selected for a 15 minute individual oral examination of their written assessment submissions.
Any student identified, either during the current semester or in retrospect, as having used ghost writing services will be investigated under the University’s Academic Integrity Rule.
Assessment Task 1
Learning Outcomes: 1,2,3,4
Online quiz 1
Throughout the semester there will be 2 online quizzes delivered through Wattle (7% each). They will examine material from all the preceding weeks' lectures and tutorials. The Wattle quiz will be available over a period of 2 days (typically Thursday night to Saturday night), however, the quiz, once started is only open for 30 minutes. Opening of the quizzes will be given with at least 2 days notice. Details will be given on the Wattle course page. Questions will be randomly assigned. Please also note that you will not be able to navigate backwards through the quiz and there is only one attempt allowed. No late submission accepted. Results will be available within 5 days of the closing of the quiz.
Feedback: The answers will be released following the close of the quiz. You can raise additional questions in consultation times and/or tutorials.
This assessment is worth 7% of your final grade. However, if you do better in the final exam than in all other assessment tasks combined then the weighting of this assessment task will be reduced to 3.5% with a corresponding increase in the weighting on your final exam. See final exam details for an explanation of the overall weighting formula.
Assessment Task 2
Learning Outcomes: 1,2,3,4
Online Quiz 2
Throughout the semester there will be 2 online quizzes delivered through Wattle (7% each). They will examine material from all the preceding weeks' lectures and tutorials. The Wattle quiz will be available over a period of 2 days (typically Thursday night to Saturday night), however, the quiz, once started is only open for 30 minutes. Opening of the quizzes will be given with at least 2 days notice. Details will be given on the Wattle course page. Questions will be randomly assigned. Please also note that you will not be able to navigate backwards through the quiz and there is only one attempt allowed. No late submission accepted. Results will be available within 5 days of the closing of the quiz.
Feedback: The answers will be released following the close of the quiz. You can raise additional questions in consultation times and/or tutorials.
This assessment is worth 7% of your final grade. However, if you do better in the final exam than in all other assessment tasks combined then the weighting of this assessment task will be reduced to 3.5% with a corresponding increase in the weighting on your final exam. See final exam details for an explanation of the overall weighting formula.
Assessment Task 3
Learning Outcomes: 1,2,3,4
Online Short Answer
The Online Short Answer tasks will be held in week 8 Monday lecture time, 11am-12 noon and will be accessed through Wattle. It will examine material from all the preceding weeks' lectures, workshops and tutorials. The Online Short Answer task is 40 minutes reading and writing time. Answers will involve written explanations and analysis and may include the use of diagrams. Submission will either be through a Wattle Quiz or TurnItIn, details including format will be provided at least 2 days before the start of the task. No late submission accepted. Results will be available within approximately 2 weeks.
Feedback: Discussion of answers in tutorials/online.
This assessment is worth 15% of your final grade. However, if you do better in the final exam than in all other assessment tasks combined then the weighting of this assessement task will be reduced to 7.5% with a corresponding increase in the weighting on your final exam. See final exam details for an explaination of the overall weighting formula.
Assessment Task 4
Learning Outcomes: 1,2,3,4
Online Workshops
There will be 5 online workshops throughout the semester. It will examine material from all the preceding weeks' lectures, compulsory readings and tutorials. Answers will be written/diagrams/calculations and are to be uploaded through the provided Turnitin or Wattle link. The questions for each Workshop will be released on a Monday morning and will be due at 5pm on the Friday of the same week. Details will be provided separately for each Workshop on the course Wattle page. Each workshop will be graded 0-2 (see rubric below). The grades for your best 4 out of 5 Workshops will be averaged for your grade for this item.
Feedback: A video going through the Workshop answers will be released following the close of submissions.
This assessment is worth 8% of your final grade. However, if you do better in the final exam than in all other assessment tasks combined then the weighting of this assessment task will be reduced to 4% with a corresponding increase in the weighting on your final exam. See final exam details for an explanation of the overall weighting formula.
Rubric
| 0 = No submission or very poor. | 1= Some questions no attempted or unsatisfactory . | 2= Satisfactory attempt at all questions | |||
|---|---|---|---|---|---|
Assessment Task 5
Learning Outcomes: 1,2,3,4
FInal Exam
Final Exam will be held during the ANU Exam block at the end of the semester. The exam will cover all material covered in the course including readings (detailed guidance will be given in lectures about which sections of readings can be omitted). More information will be made available in week 10 of semester on Wattle and through the ANU exam timetable. The final exam is compulsory and will count for 63% of your final grade. The exam will involve multiple choice, numerical, short and long answer questions. I anticipate the exam will be 2 hours (including reading time) and delivered online through the course Wattle site, details will be advised on Wattle by week 10. This may be subject to variation - check the course Wattle page and the ANU exam timetable for details at the end of semester.
The exam is worth 63% unless you do better on the final exam than other assessments combined in which case the weighting of the other assessments will be reduced by half and transferred to the final.
Weighting A: 7% + 7% + 15% + 8% + 63%
Weighting B: 3.5% + 3.5% + 7.5% + 4% + 81.5%
The best option of these two will be used for your final grade.
Academic Integrity
Academic integrity is a core part of the ANU culture as a community of scholars. The University’s students are an integral part of that community. The academic integrity principle commits all students to engage in academic work in ways that are consistent with, and actively support, academic integrity, and to uphold this commitment by behaving honestly, responsibly and ethically, and with respect and fairness, in scholarly practice.
The University expects all staff and students to be familiar with the academic integrity principle, the Academic Integrity Rule 2021, the Policy: Student Academic Integrity and Procedure: Student Academic Integrity, and to uphold high standards of academic integrity to ensure the quality and value of our qualifications.
The Academic Integrity Rule 2021 is a legal document that the University uses to promote academic integrity, and manage breaches of the academic integrity principle. The Policy and Procedure support the Rule by outlining overarching principles, responsibilities and processes. The Academic Integrity Rule 2021 commences on 1 December 2021 and applies to courses commencing on or after that date, as well as to research conduct occurring on or after that date. Prior to this, the Academic Misconduct Rule 2015 applies.
The University commits to assisting all students to understand how to engage in academic work in ways that are consistent with, and actively support academic integrity. All coursework students must complete the online Academic Integrity Module (Epigeum), and Higher Degree Research (HDR) students are required to complete research integrity training. The Academic Integrity website provides information about services available to assist students with their assignments, examinations and other learning activities, as well as understanding and upholding academic integrity.
Online Submission
You will be required to electronically sign a declaration as part of the submission of your assignment. Please keep a copy of the assignment for your records. Unless an exemption has been approved by the Associate Dean (Education) submission must be through Turnitin.
Hardcopy Submission
For some forms of assessment (hand written assignments, art works, laboratory notes, etc.) hard copy submission is appropriate when approved by the Associate Dean (Education). Hard copy submissions must utilise the Assignment Cover Sheet. Please keep a copy of tasks completed for your records.
Late Submission
No submission of assessment tasks without an extension after the due date will be permitted. If an assessment task is not submitted by the due date, a mark of 0 will be awarded.
Referencing Requirements
The Academic Skills website has information to assist you with your writing and assessments. The website includes information about Academic Integrity including referencing requirements for different disciplines. There is also information on Plagiarism and different ways to use source material.
Returning Assignments
Please refer to the information on this that was provided above in the discussion of the various assessment tasks.
Extensions and Penalties
Extensions and late submission of assessment pieces are covered by the Student Assessment (Coursework) Policy and Procedure. Extensions may be granted for assessment pieces that are not examinations or take-home examinations. If you need an extension, you must request an extension in writing on or before the due date. If you have documented and appropriate medical evidence that demonstrates you were not able to request an extension on or before the due date, you may be able to request it after the due date.
Resubmission of Assignments
No resubmission of any assignment after the due date and time for its submission will be permitted in this class.
Privacy Notice
The ANU has made a number of third party, online, databases available for students to use. Use of each online database is conditional on student end users first agreeing to the database licensor’s terms of service and/or privacy policy. Students should read these carefully. In some cases student end users will be required to register an account with the database licensor and submit personal information, including their: first name; last name; ANU email address; and other information.In cases where student end users are asked to submit ‘content’ to a database, such as an assignment or short answers, the database licensor may only use the student’s ‘content’ in accordance with the terms of service – including any (copyright) licence the student grants to the database licensor. Any personal information or content a student submits may be stored by the licensor, potentially offshore, and will be used to process the database service in accordance with the licensors terms of service and/or privacy policy.
If any student chooses not to agree to the database licensor’s terms of service or privacy policy, the student will not be able to access and use the database. In these circumstances students should contact their lecturer to enquire about alternative arrangements that are available.
Distribution of grades policy
Academic Quality Assurance Committee monitors the performance of students, including attrition, further study and employment rates and grade distribution, and College reports on quality assurance processes for assessment activities, including alignment with national and international disciplinary and interdisciplinary standards, as well as qualification type learning outcomes.
Since first semester 1994, ANU uses a grading scale for all courses. This grading scale is used by all academic areas of the University.
Support for students
The University offers students support through several different services. You may contact the services listed below directly or seek advice from your Course Convener, Student Administrators, or your College and Course representatives (if applicable).
- ANU Health, safety & wellbeing for medical services, counselling, mental health and spiritual support
- ANU Access and inclusion for students with a disability or ongoing or chronic illness
- ANU Dean of Students for confidential, impartial advice and help to resolve problems between students and the academic or administrative areas of the University
- ANU Academic Skills and Learning Centre supports you make your own decisions about how you learn and manage your workload.
- ANU Counselling Centre promotes, supports and enhances mental health and wellbeing within the University student community.
- ANUSA supports and represents undergraduate and ANU College students
- PARSA supports and represents postgraduate and research students
Convener
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Research InterestsMicroeconomics, Organizations, Location and Spatial Economics, Political Economy |
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Dr Kieron Meagher
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