• Class Number 7344
  • Term Code 3060
  • Class Info
  • Unit Value 6 units
  • Mode of Delivery In Person
    • Augustus Panton
  • 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
SELT Survey Results

This course introduces economic concepts and principles which are useful in understanding the general economic environment within which businesses and other organisations operate.

Microeconomics examines how consumers and firms make decisions and how they interact with each other in markets. Topics covered include supply and demand, consumer and firm behaviour, price determination and the operation of markets, situations of market failure, and the impact and role of government on the economy.

Macroeconomics studies the entire economy and its wellbeing. Macroeconomics looks at the effect of factors such as inflation, exchange rates, interest rates and trade on the well being and stability of the economy.

Learning Outcomes

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

  1. demonstrate an understanding of the introductory, canonical models of consumer and producer behaviour and of the macroeconomy.
  2. demonstrate a basic understanding of the operation of a modern economy.
  3. evaluate the effects of government interventions in individual markets and in the macroeconomy.

Research-Led Teaching

The theories, examples, and case studies covered in this course are derived from applied research, including the lecturer's own research work. Students will be exposed to modern data analysis tools in analyzing real-world problems and case studies.

Examination Material or equipment


Basic approved calculators

Required Resources

Acemoglu, D., Laibson, D., and List, J.A, 2016, Economics, Global Edition, Pearson, Australia. The text will be available in the University book shop (Harry Hartog) and on short loan at the Chifley Library.

*Instead of purchasing 'Microeconomics' or 'Macroeconomics' by the same authors, the above textbook covers both the micro and macro contents.

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:

  • 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 Introduction to Economics Formative Data Analysis Exercise I in R
2 Consumers and Demand Theory
3 Producers and Supply Theory Formative Data Analysis Exercise II in R
4 Government and the Economy Online Quiz I
5 Perfect Competition Research Essay Out
6 Imperfect Competition Online Quiz II
7 Defining and Measuring Macroeconomic Aggregates
8 Economic Growth Formative Data Analysis Exercise III in R:
9 Employment and Unemployment Online Quiz III
10 Monetary Policy and Short-run Fluctuations
11 Countercyclical Macroeconomic Policy Online Quiz IV
12 Trade and Open-economy Macroeconomics Formative Data Analysis Exercise IV in R

Tutorial Registration

Tutorials will be delivered remotely for this semester. Sign up details for tutorials will be available on the course Wattle site in O-week.

Assessment Summary

Assessment task Value Due Date Return of assessment Learning Outcomes
Online Quizzes 20 % * * 1,2,3,4
Mid-Semester Exam 25 % 01/09/2020 08/09/2020 1,2,3,4
Research Essay 10 % 11/10/2020 18/10/2020 1,2,3,4
Final Exam 45 % * * 1,2,3,4

* 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:

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.


Although the course will be delivered online, it is expected that each student will be actively engaged in the weekly remote tutorials and the Wattle discussions/forums. More details will be provided on Wattle in O-week.


Exams will be delivered online. Details to be provided in the weeks leading to an exam.

Assessment Task 1

Value: 20 %
Learning Outcomes: 1,2,3,4

Online Quizzes

A total of four wattle quizzes will be administered throughout the semester (5% per quiz) covering selected lectures and tutorials from preceding weeks. The quizzes will be held in weeks 4, 6, 9, and 11. More details will be posted on wattle in the preceeding week. In addition to the online quizzes, four 'Formative Data Analysis Exercises in R' will be provided for which each student will be expected to provide completed solutions. While these exercises will NOT constitute any weight toward the final grade, participation and successful completion will be critical in understanding the course.

Assessment Task 2

Value: 25 %
Due Date: 01/09/2020
Return of Assessment: 08/09/2020
Learning Outcomes: 1,2,3,4

Mid-Semester Exam

The mid-semester exam will cover the microeconomics component of the course, covering material from Weeks 1-6. It is worth 25% of the final grade. The exam date and time will be determined by Central Examinations. More details will be provided on Wattle no later than week 5.

Assessment Task 3

Value: 10 %
Due Date: 11/10/2020
Return of Assessment: 18/10/2020
Learning Outcomes: 1,2,3,4

Research Essay

The Research Essay is aimed at exposing students to academic research. Each student will develop an economic question to be analyzed or critically examined in a well written and formatted work not exceeding 1000 words (not including titles, bibliography, tables, etc.). Late submissions will not be accepted. A complete description of the assignment will be provided no later than Week 5 of the semester.

Assessment Task 4

Value: 45 %
Learning Outcomes: 1,2,3,4

Final Exam

This exam will include all material from the Macroeconomics component of the course, covering material from Weeks 7-12. It is worth 40% of the final grade. Material from Weeks 1-6 will not be directly examined but may be indirectly examined. The exam date and time will be determined by Central Examinations. Further details will be provided on Wattle in week 10.

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

The submission of assessment tasks without an extension after the due date is not permitted, 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

See details provided under each assessment task.

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 an assessment task will be permitted after the due date and time.

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).

Augustus Panton

Research Interests

Macroeconomics, Macroeconomic Modelling, Monetary Economics/Monetary Policy, Climate Policy

Augustus Panton

Monday 15:00 16:00
By Appointment

Responsible Officer: Registrar, Student Administration / Page Contact: Website Administrator / Frequently Asked Questions