- Class Number 2452
- Term Code 2930
- Class Info
- Unit Value 6 units
- Mode of Delivery In Person
- Dr Kieron Meagher
- Dr Kieron Meagher
- Class Dates
- Class Start Date 25/02/2019
- Class End Date 31/05/2019
- Census Date 31/03/2019
- Last Date to Enrol 04/03/2019
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.
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
Theory and examples covered in the course are derived from research in the field of economics.
Examination Material or equipment
Permitted materials in examinations will include writing materials, ruler and a non- programmable calculator. No textbooks, ‘cheat sheets’ or dictionaries are permitted
The main textbook for this course is:
Nicholson, W., & Snyder, C., 2015, Intermediate Microeconomics and its Applications, 12th edition, Cengage Learning, USA.
The book can be purchased from the on campus bookshop, with a small number of copies also available for 2 hour loan in the reserve loan section of the Chifley Library
Students will be given feedback in the following forms in this course:
· Verbally in tutorials.
· Numerical grades for quizzes and the mid semester exam
· Whole-of-class feedback on quizzes and mid semester exam.
Students should feel free to approach the lecturer after class or in consultation hours to discuss any aspects of the course they are having problems with, or to discuss their performance on various assessment items.
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). The feedback given in these surveys is anonymous and provides the Colleges, University Education Committee and Academic Board with opportunities to recognise excellent teaching, and opportunities for improvement. The Surveys and Evaluation website provides more information on student surveys at ANU and reports on the feedback provided on ANU courses.
Support for Students
The University offers a number of support services for students. Information on these is available online from http://students.anu.edu.au/s1 tudentlife/
Your final mark for the course will be based on the raw marks allocated for each of your assessment items. However, your final mark may not be the same number as produced by that formula, as marks may be scaled. Any scaling applied will preserve the rank order of raw marks (i.e. if your raw mark exceeds that of another student, then your scaled mark will exceed the scaled mark of that student), and may be either up or down.
Tutorials are a discussion-based class. Providing worked solutions would not effectively compensate for missing a tutorial. Students who, through unavoidable and unplanned occurrences, are unable to attend a tutorial class one week are encouraged to work through the problems and attend a consultation session for discussion and solutions.
RSE has a Frequently Asked Questions page where you can find relevant policies and information on a broad range of topics
|Week/Session||Summary of Activities||Assessment|
|1||The following list of topics will not match exactly with lecture weeks. Some topics will take more than week, some less. The amount of time allocated to each topic will also vary with student interest and current events. The main textbook for this course is: Nicholson, W., & Snyder, C., 2015, Intermediate Microeconomics and its Applications, 12th edition, Cengage Learning, USA. Lectures 1a. Methodology for this course 1b. Consumer Utility and Choice Text Chapters Chap1*, 2 * Chapter 1 is assumed background reading. Classes 3 lectures (the 2nd lecture will be longer than normal, using some of the seminar hour).|
|2||Demand Curves Text Chapters 3 Classes 3 lectures (the 2nd lecture will be longer than normal, using some of the seminar hour).|
|3||Choice Under Uncertainty Text Chapters 4 (selected) Classes 2 lectures, 1 seminar, 1 tutorial||In seminar quiz|
|4||Production Text Chapters 6 Classes 2 lectures, 1 seminar, 1 tutorial||In seminar quiz|
|5||Cost in the Short Run and Long Run Text Chapters 7 Classes 2 lectures, 1 seminar, 1 tutorial||In seminar quiz|
|6||Profit maximisation and Supply Text Chapters 8 Classes 2 lectures, 1 seminar, 1 tutorial||Mid Semester Exam (Provisional). The exam timed location will be scheduled by central exams and as a result may not be in week 6. You should not make travel plans or other commitments assuming the exam will be in week 6.|
|7||The Price Taking Firm Text Chapters 9 Classes 2 lectures, 1 seminar, 1 tutorial||In seminar quiz|
|8||General Equilibrium and Welfare Text Chapters 10 Classes 2 lectures, 1 seminar, 1 tutorial||In seminar quiz|
|9||Market Power: Monopoly Text Chapters 11 Classes 2 lectures, 1 seminar, 1 tutorial||In seminar quiz|
|10||Market Power: Other Market Structures Text Chapters 12 plus others** Classes 2 lectures, 1 seminar, 1 tutorial||In seminar quiz (one of these quizes will be cancelled depending on the scheduling of the midsemester exam -- keep an eye on Wattle for details).|
|11||Asymmetric Information Text Chapters 12, 13 Classes 3 lectures (the 2nd lecture will be longer than normal, using some of the seminar hour).|
|12||Extensions and Applications: Capital and time, Asymmetric Information Text Chapters 14, 15 Classes 3 lectures (the 2nd lecture will be longer than normal, using some of the seminar hour).|
|13||Examination period||Final Exam|
|Assessment task||Value||Due Date||Return of assessment||Learning Outcomes|
|In seminar quizzes||25 %||25/02/2019||31/05/2019||1-4|
|Mid Semester Exam||25 %||01/04/2019||31/05/2019||1-4|
|Final Exam||50 %||01/06/2019||01/07/2019||1-4|
* If the Due Date and Return of Assessment date are blank, see the Assessment Tab for specific Assessment Task details
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 Misconduct Rule before the commencement of their course. Other key policies and guidelines include:
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 ANU Online website. Students may choose not to submit assessment items through Turnitin. In this instance you will be required to submit, alongside the assessment item itself, hard copies of all references included in the assessment item.
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.
This is an on-campus course. Attendance at all teaching events, while not compulsory, is expected in line with “Code of Practice for Teaching and Learning”, clause 2 paragraph (b).
Assessment Task 1
Learning Outcomes: 1-4
In seminar quizzes
There will be six brief in-seminar quizzes over the course of the semester worth a total of 25 percent of your final grade. The best four out of six marks will count. These quizzes will almost every week between weeks 3 and 10 accept for the week before mid-semester break and the week of the mid-semester exam (these could be the same week) . The quiz will be linked to the lectures and readings of ALL material taught prior to the day of the quiz (that is the material in the lecture immediately before the seminar will not be examined). We aim to have the mark for each quiz returned in about 2 weeks.
Assessment Task 2
Learning Outcomes: 1-4
Mid Semester Exam
The mid-semester exam will cover material delivered in topics (labeled weeks) 1 – 5 above. The exam will be held as determined by Central Examinations. Details will be made available closer to the date. Probably 90 minutes with no reading time.The return date for results will be approximately 3 weeks after the exam.
Assessment Task 3
Learning Outcomes: 1-4
The final exam will cover material covered throughout the course. The exam will be held as determined by Central Examinations. Probably 120 minutes with no reading time. Details will be made available closer to the date and will be available on http://timetable.anu.edu.au
Grades for the final are not returned through Wattle, rather you receive your overall grade for the course with the official release of course results by the University.
Academic integrity is a core part of our culture as a community of scholars. At its heart, academic integrity is about behaving ethically. This means that all members of the community commit to honest and responsible scholarly practice and to upholding these values with respect and fairness. The Australian National University commits to embedding the values of academic integrity in our teaching and learning. We ensure that all members of our community understand how to engage in academic work in ways that are consistent with, and actively support academic integrity. The ANU expects staff and students to uphold high standards of academic integrity and act ethically and honestly, to ensure the quality and value of the qualification that you will graduate with. The University has policies and procedures in place to promote academic integrity and manage academic misconduct. Visit the following Academic honesty & plagiarism website for more information about academic integrity and what the ANU considers academic misconduct. The ANU offers a number of services to assist students with their assignments, examinations, and other learning activities. The Academic Skills and Learning Centre offers a number of workshops and seminars that you may find useful for your studies.
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) as submission must be through Turnitin.
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.
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.
Accepted academic practice for referencing sources that you use in presentations can be found via the links on the Wattle site, under the file named “ANU and College Policies, Program Information, Student Support Services and Assessment”. Alternatively, you can seek help through the Students Learning Development website.
Extensions and Penalties
Extensions and late submission of assessment pieces are covered by the Student Assessment (Coursework) Policy and Procedure. The Course Convener may grant extensions 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.
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 Diversity 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
Organizational Economics, Spatial competition, Political Economy.
Dr Kieron Meagher