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:
Students who successfully complete this course should be able 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
Other Information
See the course outline on the College courses page. Outlines are uploaded as they become available.
Indicative Assessment
Assessment will consist of a Final Exam, mid-semester exam(s) and in-class quizzes, or some combination thereof. See the course outline for details.
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.
Workload
Three lectures and one tutorial per weekRequisite and Incompatibility
Prescribed Texts
Nicholson, W., & Snyder, C., 2015, Intermediate Microeconomics and its Applications, 12th edition, Cengage Learning, USA.
Majors
Minors
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:
- 3
- 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 |
|---|---|
| 2018 | $3900 |
- International fee paying students
| Year | Fee |
|---|---|
| 2018 | $5160 |
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 |
|---|---|---|---|---|---|---|
| 2573 | 19 Feb 2018 | 27 Feb 2018 | 31 Mar 2018 | 25 May 2018 | In Person | N/A |
Second Semester
| Class number | Class start date | Last day to enrol | Census date | Class end date | Mode Of Delivery | Class Summary |
|---|---|---|---|---|---|---|
| 8936 | 23 Jul 2018 | 30 Jul 2018 | 31 Aug 2018 | 26 Oct 2018 | In Person | N/A |
