Economics 1(H) includes ECON1102 Macroeconomics 1 with two additional contact hours a week. It is designed for the better performing students who want to extend their exposure to economics beyond that offered in the standard first year courses in microeconomics and macroeconomics. As such, students enrolling in this course should have achieved at least a credit (above 60%) for Microeconomics 1.

The first part of the course uses the tools of Microeconomics 1 to examine in greater depth topics such as the efficiency of competitive markets (market success) and the theory of market failure – including externalities; transactions costs; congestion, common property and the anti-commons; natural monopoly; non-excludability, non-rivalry and public goods; strategic behaviour and game theory.

The analysis will be applied to a number of topical public policy issues including carbon pricing, intellectual property, infrastructure pricing and provision, and road charging. The course finishes with an examination of public choice: the economics of the political process.

Learning Outcomes

Upon successful completion, students will have the knowledge and skills to:

1. demonstrate an understanding of the core theoretical models used by macroeconomists, in particular the Solow growth model and the AS/AD-model;
2. discuss the usefulness and limitations of these models;
3. explain and demonstrate an understanding of some of the associated empirical implications and policy issues;
4. demonstrate the ability to critically evaluate many newspaper and magazine articles covering current economic events;
5. demonstrate a brief understanding of some of the institutional features of the Australian economy and some overseas economies;
6. demonstrate the ability to analyse a problem from an economics perspective, or at least understand how economists think;
7. Recognise the economic issues in a problem and apply the appropriate tools to analyse it;
8. demonstrate an understanding of the economic tools taught in class and be able to apply them to analyse real world problems and policy issues.

Research-Led Teaching

Microeconomics forms the foundation for most research in Economics. The material covered in this course is based on long-established microeconomics theory and more recent experimental research in the field.

Required Resources

Lecture notes will be provided on Wattle

Staff Feedback

Students will be given feedback in the following forms in this course:

• written comments
• verbal comments
• feedback to whole class, groups, individuals, focus group etc

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). 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.

Class Schedule

Week/Session	Summary of Activities	Assessment
1	Objects of choice; bundles of goods; pairwise comparisons; preference relations; axioms
2	Indifference curves; better than sets; convex sets; utility functions
3	Representing preferences - 3 ways; axioms and utility functions; transformations of utility functions; cardinal vs ordinal
4	Types of preferences; marginal utility and marginal rate of substitution; prices, wealth, budget sets; taxes; rationing
5	Predicting a consumer's demand; the idea of constrained optimisation; Optimal choice subject to budget constraint
6	Conditions for optimal choice; special cases of preferences
7	Reinterpretation of the choice model: Choice under uncertainty; States of the world; Expected Value; St. Petersburg paradox
8	Utility of money; Risk attitude; Certainty equivalent; Expected utility
9	Different situations of uncertainty: lotteries, subjective: Hedging; Insurance
10	Allais' and Ellsberg's paradoxes
11	Kahneman and Tversky's experiments; other experiments
12	Time consistency/inconsistency; Incompleteness

Tutorial Registration

n/a

Assessment Summary

Assessment task	Value	Due Date	Return of assessment	Learning Outcomes
ECON1102 Take-home assignment 1	11 %	12/08/2019	26/08/2019	1,2,3,4,5
ECON1102 Online Quiz 1	8 %	28/08/2019	02/09/2019	1,2,5
ECON1102 Online Quiz 2	7 %	25/09/2019	29/09/2019	1,2,5
ECON1102 Take-home assignment 2	11 %	09/10/2019	15/10/2019	1,2,3,4,5
ECON1102 Final Exam	38 %	31/10/2019	05/12/2019	1,2,3,4,5
ECON1100 Final Exam	25 %	31/10/2019	05/12/2019	6,7,8,9

* 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 Misconduct Rule before the commencement of their course. Other key policies and guidelines include:

• Student Assessment (Coursework) Policy and Procedure
• Special Assessment Consideration Policy and General Information 
• Student Surveys and Evaluations
• Deferred Examinations
• Student Complaint Resolution Policy and Procedure

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 ANU Online 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

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).

 In addition, 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.

Assessment Task 1

ECON1102 Take-home assignment 1

Take-home tasks involving problem-solving questions and analysis. Take-home assignment 1 is worth 11.25% of total course mark. This assignment is compulsory and non-redeemable. The assignment will have questions similar to those provided in tutorials. The take-home assignment will need to be submitted electronically through Turnitin; a hardcopy submission may also be required. Exact submission requirements will be posted on Wattle. Email and fax submissions are not acceptable. The questions will be released a week in advance on the due date.

Assessment Task 2

ECON1102 Online Quiz 1

60 minute quiz, administered through Wattle. Online Quiz 1 is worth 7.5% of the total course mark. The quiz is both compulsory and non-redeemable. There will be a one day window in which students can take the exam but once they commence it they will have one hour to complete it. Further details on the quizzes will posted on Wattle shortly after the semester commences.

Assessment Task 3

ECON1102 Online Quiz 2

60 minute quiz, administered through Wattle. Online Quiz 2 is worth 7.5% of the total course mark. The quiz is both compulsory and non-redeemable. There will be a one day window in which students can take the exam but once they commence it they will have one hour to complete it. Further details on the quizzes will posted on Wattle shortly after the semester commences.

Assessment Task 4

ECON1102 Take-home assignment 2

Take-home tasks involving problem-solving questions and analysis. Take-home assignment 2 is worth 11.25% of total course mark. This assignment is compulsory and non-redeemable. The assignment will have questions similar to those provided in tutorials. The take-home assignment will need to be submitted electronically through Turnitin; a hardcopy submission may also be required. Exact submission requirements will be posted on Wattle. Email and fax submissions are not acceptable. The questions will be released a week in advance on the due date.

Assessment Task 5

ECON1102 Final Exam

180 minutes with 30 minutes reading time. Worth 37.5% of course mark. This exam is compulsory and non-redeemable.

The final exam will test the entire material covered throughout the semester, with an emphasis on the second half of the course. It will be held during the university examination period. The format of the exam has not yet been finalized but likely will consist of 3 sections – multiple choice, short answer and long answer - to be answered in 3 hours. The questions will vary in complexity ranging from basic questions up through questions of increasing complexity and requiring creativity and higher analytic and communication skills.

Assessment Task 6

ECON1100 Final Exam

The Final Exam for ECON1100 is an additional final exam and will also be held during the University Exam block. It will cover all material from the ECON1100 lectures and tutorials. The exam will be a closed book exam running for approximately 2.5hours. Further details on the exam will be provided in class and on Wattle.

This exam will count for 25% of your final grade.

Academic Integrity

Academic integrity is a core part of the ANU culture as a community of scholars. At its heart, academic integrity is about behaving ethically, committing to honest and responsible scholarly practice and upholding these values with respect and fairness.

The ANU commits to assisting all members of our community to 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 be familiar with the academic integrity principle and Academic Misconduct Rule, 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 Academic Misconduct Rule is in place to promote academic integrity and manage academic misconduct. Very minor breaches of the academic integrity principle may result in a reduction of marks of up to 10% of the total marks available for the assessment. The ANU offers a number of online and in person services to assist students with their assignments, examinations, and other learning activities. Visit the Academic Skills website for more information about academic integrity, your responsibilities and for assistance with your assignments, writing skills and study.

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

Individual assessment tasks may or may not allow for late submission. Policy regarding late submission is detailed below:

• Late submission not permitted. If submission of assessment tasks without an extension after the due date is not permitted, a mark of 0 will be awarded.
• Late submission permitted. Late submission of assessment tasks without an extension are penalised at the rate of 5% of the possible marks available per working day or part thereof. Late submission of assessment tasks is not accepted after 10 working days after the due date, or on or after the date specified in the course outline for the return of the assessment item. Late submission is not accepted for take-home examinations.

Referencing Requirements

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.

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 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