• Offered by Research School of Economics
  • ANU College ANU College of Business and Economics
  • Classification Advanced
  • Course subject Economics
  • Areas of interest Economics
  • Academic career PGRD
  • Course convener
    • AsPr Idione Meneghel
    • Dr Ronald Stauber
  • Mode of delivery In Person
  • Co-taught Course
  • Offered in First Semester 2020
    Second Semester 2020
    See Future Offerings

The course will focus on Microeconomic theory as an approach to organizing economic ideas through modelling.

This course will examine some basic components of economic theory concerning the allocation of scarce resources:individual non-strategic decision making by consumers and firms, Markets and General Equilibrium, Game Theory for extending the models of consumers and producers to strategic settings (with an emphasis on asymmetric information and mechanism design), and models of how decisions are made in non market settings through political institutions or within firms.

Along the way we will consider how to include uncertainty in models and how to establish the existence of equilibria/optima and the comparative static properties of these predicted outcomes.

Learning Outcomes

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

  1. Individual Decision Makers: State and prove the fundamental properties of consumer and producer behaviour in neoclassical economics
  2. Markets: explain and apply the results of, Game Theory and General Equilibrium in understanding the properties of basic market structures.
  3. Mechanism Design: use mechanism design techniques to establish the structure of optimal incentive contracts and apply contract design to solve economic problems.
  4. Uncertainty: explain and apply the results of, and methods used in, expected utility theory
  5. Non-market allocation: state and prove the fundamental results of social choice, voting and managerial hierarchies; know the characteristics of some practical solutions to non-market allocation systems.
  6. Modelling: Describe relevant economic situations as games or optimization problems.
  7. Solving: Use curvature and monotonicity properties to establish the solutions and comparative static properties for relevant economic models.

Other Information

Indicative Assessment

  1. Assignment 15% (15) [LO null]
  2. Midsession Exam 15% (15) [LO null]
  3. Spot Quiz 10% (10) [LO null]
  4. Examination 60% (60) [LO null]

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Workload

2 hours a week: lecture 1 hour a week to the modelling workshop, 6 hours a week: reading, research, group work, writing and assignment, 1 hours a week: tutorials and seminars

Inherent Requirements

Not applicable

Requisite and Incompatibility

To enrol in this course you must have completed ECON8025, and ECON8013. Incompatible with ECON4411.

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
Note: Please note that fee information is for current year only.

Offerings, Dates and Class Summary Links

The list of offerings for future years is indicative only.
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
2309 24 Feb 2020 02 Mar 2020 31 Mar 2020 29 May 2020 In Person N/A

Second Semester

Class number Class start date Last day to enrol Census date Class end date Mode Of Delivery Class Summary
8217 27 Jul 2020 03 Aug 2020 31 Aug 2020 30 Oct 2020 In Person N/A

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