All activities that form part of this course will be delivered remotely
The course examines how individuals and firms make decisions by weighing up costs and benefits, and how the interaction of their decisions leads to market and social outcomes. The model of market supply and demand is employed to examine the effects of taxes, subsidies, and other government interventions in market activity. The implications of different market structures, including perfect competition and monopoly, are examined. Public goods, externalities and common resources are key examples of cases in which private markets may yield socially sub-optimal outcomes. Such cases are examined and the role of government policy in correcting for these is discussed.
Learning Outcomes
Upon successful completion, students will have the knowledge and skills to:
- demonstrate an understanding of the economic principles that underpin modern economics;
- have a basic understanding of the way budget constrained individuals make optimising choices and the way resources are allocated in private markets;
- demonstrate an understanding of the role of different trading arrangements in markets and their impact on prices and the quantities traded;
- use basic economic principles to evaluate the effects of government interventions and other exogenous changes in markets;
- evaluate the effects of government interventions in markets;
- present clearly written analysis of economic issues and problems
Other Information
Indicative Assessment
- Mid Semester exam (30) [LO 1,2,3,4,5]
- Tutorial Quizzes (10) [LO 1,2,3,4,5,6]
- On-line quizzes (10) [LO 1,2,3,4,5]
- Personal Project/Assignment (10) [LO 1,2,3,4,5,6]
- Final Exam (60%) (40) [LO 1,2,3,4,5,6]
In response to COVID-19: Please note that Semester 2 Class Summary information (available under the classes tab) is as up to date as possible. Changes to Class Summaries not captured by this publication will be available to enrolled students via Wattle.
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
130 hours in total over the semester consisting of lectures, tutorials and private study time.
Inherent Requirements
Not applicable
Prescribed Texts
See Class Summary
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 |
|---|---|
| 2020 | $4320 |
- International fee paying students
| Year | Fee |
|---|---|
| 2020 | $5760 |
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 |
|---|---|---|---|---|---|---|
| 2315 | 24 Feb 2020 | 02 Mar 2020 | 08 May 2020 | 05 Jun 2020 | In Person | View |
| 4890 | 24 Feb 2020 | 02 Mar 2020 | 08 May 2020 | 05 Jun 2020 | Online | View |
Second Semester
| Class number | Class start date | Last day to enrol | Census date | Class end date | Mode Of Delivery | Class Summary |
|---|---|---|---|---|---|---|
| 7292 | 27 Jul 2020 | 03 Aug 2020 | 31 Aug 2020 | 30 Oct 2020 | In Person | View |
