- Class Number 8182
- Term Code 3060
- Class Info
- Unit Value 6 units
- Mode of Delivery In Person
- Dr Dana Hanna
- Prof Stephen King
- Class Dates
- Class Start Date 27/07/2020
- Class End Date 30/10/2020
- Census Date 31/08/2020
- Last Date to Enrol 03/08/2020
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.
Upon successful completion, students will have the knowledge and skills to:
- demonstrate an understanding of the core theoretical models used by macroeconomists, in particular the Solow growth model and the AS/AD-model;
- discuss the usefulness and limitations of these models;
- explain and demonstrate an understanding of some of the associated empirical implications and policy issues;
- demonstrate the ability to critically evaluate many newspaper and magazine articles covering current economic events;
- demonstrate a brief understanding of some of the institutional features of the Australian economy and some overseas economies;
- demonstrate the ability to analyse a problem from an economics perspective, or at least understand how economists think;
- Recognise the economic issues in a problem and apply the appropriate tools to analyse it;
- demonstrate an understanding of the economic tools taught in class and be able to apply them to analyse real world problems and policy issues.
The lecturer is a researcher working in a range of public policy areas, including the governments’ responses to the current pandemic.
A list of on-line resources will be made available at the start of semester and updated throughout the semester.
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
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.
|Week/Session||Summary of Activities||Assessment|
|1||Introduction; Was a pandemic inevitable?; exponential growth|
|2||Basic SIR modeling and the information problem facing governments|
|3||Objectives of government policy and the value of a life||ECON1102 Tutorial Quiz 1|
|4||The ‘real option value’ of locking down the economy; international comparisons||ECON1102 Tutorial Quiz 2|
|5||Simultaneous move games and the economics of hoarding||ECON1102 Tutorial Quiz 3|
|6||How markets react: price gouging and market responses||ECON1102 Tutorial Quiz 4|
|7||Has the pandemic sped up technological adoption?||ECON1102 Tutorial Quiz 5 & ECON1102 Mid semester exam|
|8||Government responses to the shut down – including international comparisons||ECON1102 Tutorial Quiz 6|
|9||Opening up the economy again – when and how including international comparisons||ECON1102 Tutorial Quiz 7 & ECON1102 Homework Assignment|
|10||Tools to open the economy – and the economic limitations on those tools||ECON1102 Tutorial Quiz 8|
|11||Can the government admit its mistakes? Decision making when you care what others care about||ECON1102 Tutorial Quiz 9|
|12||Long term consequences including hidden deaths and labour market changes||ECON1100 Assignment Due|
Details on tutorials will be posted on Wattle in O-week.
|Assessment task||Value||Due Date||Return of assessment||Learning Outcomes|
|ECON1102 Tutorial Quizzes||11 %||14/08/2020||23/10/2020||1,2,3,4,5|
|ECON1102 Mid Semester Exam||18 %||25/09/2020||09/10/2020||1,2,3,4,5|
|ECON1102 Homework Assignment||9 %||09/10/2020||23/10/2020||1,2,3,4,5|
|ECON1102 FInal Exam||37 %||*||*||1,2,3,4,5|
|ECON1101 Assignment||25 %||30/10/2020||*||6,7,8,9|
* 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 Academic Integrity . 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.
Remotely with pre-recorded lectures (1hr) and weekly tutorial/discussion in real time by Zoom (1hr)
Assessment Task 1
Learning Outcomes: 1,2,3,4,5
ECON1102 Tutorial Quizzes
There will be 9 short quizzes. In each quiz, there will be 10 questions and it will take 12 minutes to complete. Quizzes are planned to be given towards the end of the online tutorials for now. Yet, this might change. We will provide more info regarding the delivery of the online quizzes on the course Wattle page in O-week.
Your best 7 scores will be counted. The quizzes will take place in Weeks 3, 4 ,5, 6, 7, 8, 9, 10 and 11. These quizzes will try to measure your understanding of the material during the semester and to give you a timely feedback. The quizzes are not comprehensive i.e. they will cover the previous lecture materials. That means quiz 1 in week 3 covers week 1 and 2 lectures; quiz 2 in week 4 will cover week 3 lecture; etc. The value of each quiz is 2 %. More details will be available in O-week.
Assessment Task 2
Learning Outcomes: 1,2,3,4,5
ECON1102 Mid Semester Exam
This exam is optional and redeemable. It is planned to be 2 hours long (subject to the change). The exact date and time of the online exam and the other details regarding the exam (i.e. the writing time, reading time, etc.) will be announced on Wattle at least two weeks before the exam.
Assessment Task 3
Learning Outcomes: 1,2,3,4,5
ECON1102 Homework Assignment
ECON1102 students need to answer various short-essay, data manipulation, or analytical questions individually. The assignment questions will be posted to the Wattle at least two weeks beforeits due date. The assignment is due in Week 9. The assignment should be typed. The details regarding the homework assignment requirements will be posted to the course Wattle page and students should conform to the assignment rules otherwise their assignment might receive zero marks.
Assessment Task 4
Learning Outcomes: 1,2,3,4,5
ECON1102 FInal Exam
This exam is compulsory and not-redeemable. Exam covers all topics studied in week 1-12 (inclusive) and will be 3 hours long (subject to the change). More information regarding the exam (exact date, time, the length of the exam, question types, etc.) will be provided on Wattle no later than week 10.
Assessment Task 5
Learning Outcomes: 6,7,8,9
Students will write an essay to be submitted on Friday of week 12. Topics for the essay will be distributed in week 1 of the semester where further details of the assessment will also be provided.
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.
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.
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.
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.
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. 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.
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
Microeconomics, industrial economics, competition economics
Dr Dana Hanna