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:
- 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
Research-Led Teaching
The material taught in this course is directly relevant to various applied microeconomic research topics that have been considered by economists in academia, various public sector agencies, and various private sector organisations.
Field Trips
n.a
Additional Course Costs
n.a
Required Resources
Nicholson, W., & Snyder, C., 2015, Intermediate Microeconomics and its Applications, 12th edition, Cengage Learning, USA.
The text book is available in Chifley Library on 2hr reserve. Availability of an online version is currently being investigated and information will be advertised when known.
Staff Feedback
Students will be given feedback in the following forms in this course:
- Graded tutorial assignments.
- Graded one-hour online assignment.
- Verbal feedback upon request during consultation hours and tutorials.
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.
Other Information
Work-Load Expectations
The amount of work required for successful completion of this class may vary between students. As a rough guide, students should expect to devote at least 10 hours a week to this class. This should include all of the following.
- 3 hours a week: lectures.
- 1 hour a week: tutorials.
- At least 6 hours a week: reading, research, writing, lecture and tutorial preparation.
Attendance Expectations
As a general rule, students should aim to attend all lectures and tutorials for this class unless they have a very good reason for not doing so. Recognising that occasional absences are often unavoidable, students are expected to attend at least 80 per cent of all lectures and tutorials (combined) for this class. The main exceptions to this are absences for medical or other reasons that can be supported by an appropriate form of official documentation.
Class Schedule
| Week/Session | Summary of Activities | Assessment |
|---|---|---|
| 1 | Consumer Utility and Choice | Chapter 1 and 2 of N&S |
| 2 | Demand and Comparative Statics | Chapter 3 N&S |
| 3 | Budget Constraint and Intertemporal Choice | Reading made available on Wattle; online quiz #1 |
| 4 | Choice Under Uncertainty | Chapter 4 N&S |
| 5 | Production | Chapter 6 N&S; Online quiz #2 |
| 6 | Costs in SR and LR | Chapter 7 N&S; Exam #1 |
| 7 | Profit maximisation and supply | Chapter 8 N&S |
| 8 | Perfect Competition and General Equilibrium | Chapter 10 N&S; Online quiz #3 |
| 9 | Market Power (1) | Chapters 11 & 12 N&S; |
| 10 | Market Power (2) and Strategic Behaviour | Chapter 12 N&S + readings on Wattle; Exam #2 |
| 11 | Input Markets | Chapter 13 N&S; online quiz #4 |
| 12 | Asymmetric Information | Chapter 15 N&S |
Tutorial Registration
Tutorials will be delivered remotely for this semester. Sign up for tutorials will be available on the Wattle course site. More details will be available during O-Week.
Assessment Summary
| Assessment task | Value | Due Date | Return of assessment | Learning Outcomes |
|---|---|---|---|---|
| Online quizzes | 10 % | * | * | 1,2,3,4 |
| Exam #1 | 20 % | 29/08/2020 | 15/09/2020 | 1,2,3,4 |
| Exam #2 | 20 % | 30/09/2020 | 14/10/2020 | 1,2,3,4 |
| FInal Exam | 50 % | * | * | 1,2,3,4 |
* 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 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.
Participation
Due to travel restrictions this course will be delivered through online platforms. Aspects of the delivery will be asynchronous. However, there will be synchronous activities also taking place. Details on the delivery of this course and expectations of student participation are outlined in further detail on the Wattle course site in O-week.
Examination(s)
Delivered on-line.
Assessment Task 1
Learning Outcomes: 1,2,3,4
Online quizzes
Throughout the semester there will be 4 online quizzes delivered through Wattle. These quizzes will be held in weeks 3, 5, 8 and 11. They will cover material from the preceeding weeks lectures and tutorials. The wattle quiz will be avaialble over a period of 3 days, however, the quiz, once started is only open for 1 hour. There will be 10 questions to be answered. They will be randomly assigned. Please also note that you will not be ablve to navigate backwards through the quiz and there is only one attempt allowed. No late submission accepted.
Assessment Task 2
Learning Outcomes: 1,2,3,4
Exam #1
The exam will be conducted online during week 6. It will cover all the material from lectures and tutorials in weeks 1-5. More information will be provided on Wattle in week 4.
A marking rubric will be also be available on Wattle.
Assessment Task 3
Learning Outcomes: 1,2,3,4
Exam #2
The exam will be conducted online during week 10. It will cover all the material from lectures and tutorials in weeks 1-9. More information will be provided on Wattle in week 8.
Assessment Task 4
Learning Outcomes: 1,2,3,4
FInal Exam
Final Exam will be held during the ANU Exam block at the end of the semester. The exam will be delivered online. The exam will cover all material delivered in lectures and tutorials over weeks 1-12. More information will be made available in week 10 of semester on Wattle.
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
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.
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.
Returning Assignments
Please refer to the information on this that was provided above in the discussion of the various assessment tasks.
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.
Resubmission of Assignments
No resubmission of any assignment after the due date and time for its submission will be permitted in this class.
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
Convener
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Research InterestsMicroeconomics, Family Economics, Applied Microeconomics |
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Dr Dana Hanna
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