This course considers a range of topics in microeconomic theory and applied microeconomics. Topics include cost and production functions, the theory of the firm, profit maximization, duality, consumer choice and demand, market structure, basic game theory and intertemporal choice. The course also emphasizes a series of research tools and applications in applied microeconomics, including stochastic cost and production frontiers, natural resource and common property problems, productivity and efficiency measures, international trade, incentives and total factor productivity, intertemporal choice and economic growth.
The course is designed for students at the Master Degree level and a general knowledge of economics at the postgraduate level is assumed. The course also assumes particular knowledge of graduate diploma level microeconomics and basic econometrics. Lectures in optimal control theory and stochastic frontiers will be provided in class.
There will be two one-hour lectures per week and a one-hour tutorial. An additional review lecture (repeating and elaborating on difficult concepts form regular lectures) will also be held one-hour per week. Every week tutorial questions will be distributed, forming the basis of tutorial sessions and providing sample exam questions.
Learning Outcomes
Upon successful completion, students will have the knowledge and skills to:
On successfully completing this course, students are expected to:
· Be familiar with a wide range of the mathematical concepts, formalisms and techniques that are commonly used in applied microeconomics.
· Have confidence in the mathematical techniques required for modelling microeconomic problems for policy analysis and evaluation.
· Be able to perform common policy analysis and evaluation using computers.
Indicative Assessment
The assessment include: three online quizzes (non-redemptive 10% each), a midterm exam (redemptive, 10%) and a final exam (60%). This course covers a lot of material in a short space of time. It is essential that you work consistently throughout the semester. Cramming just before the exam will bring disaster.
The ANU uses 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. While the use of Turnitin is not mandatory, the ANU highly recommends Turnitin is used by both teaching staff and students. For additional information regarding Turnitin please visit the ANU Online website.
Requisite and Incompatibility
Preliminary Reading
A package containing all required readings can be purchased during the first week of lectures. There is no single textbook. Readings are drawn from a number of texts and professional papers.
Assumed Knowledge
· Mathematics: High school algebra, derivative/integration calculus and optimization.
· Statistics and Econometrics: Descriptive statistics and regressions.
· Computer: MsExcel skill is assumed. Students will be introduced to R (http://www.r-project.org) for statistical analysis. However, works in any of the following platforms will be accepted: Matlab, C, Mathematica, Maple, Python, Julia, Visual Basic, Stata, Eviews.
Fees
Tuition fees are for the academic year indicated at the top of the page.
If you are a domestic graduate coursework or international student you will be required to pay tuition fees. Tuition fees are indexed annually. Further information for domestic and international students about tuition and other fees can be found at Fees.
- Student Contribution Band:
- 2
- Unit value:
- 6 units
If you are an undergraduate student and have been offered a Commonwealth supported place, your fees are set by the Australian Government for each course. At ANU 1 EFTSL is 48 units (normally 8 x 6-unit courses). You can find your student contribution amount for each course at Fees. Where there is a unit range displayed for this course, not all unit options below may be available.
| Units | EFTSL |
|---|---|
| 6.00 | 0.12500 |
Course fees
- Domestic fee paying students
| Year | Fee |
|---|---|
| 2016 | $3660 |
- International fee paying students
| Year | Fee |
|---|---|
| 2016 | $4878 |
Offerings, Dates and Class Summary Links
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.
Class summaries, if available, can be accessed by clicking on the View link for the relevant class number.
First Semester
| Class number | Class start date | Last day to enrol | Census date | Class end date | Mode Of Delivery | Class Summary |
|---|---|---|---|---|---|---|
| 3028 | 15 Feb 2016 | 26 Feb 2016 | 31 Mar 2016 | 27 May 2016 | In Person | N/A |