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:

1. demonstrate an understanding of the economic principles that underpin modern economics;
2. have a basic understanding of the way budget constrained individuals make optimising choices and the way resources are allocated in private markets;
3. demonstrate an understanding of the role of different trading arrangements in markets and their impact on prices and the quantities traded;
4. use basic economic principles to evaluate the effects of government interventions and other exogenous changes in markets;
5. evaluate the effects of government interventions in markets;
6. present clearly written analysis of economic issues and problems

Research-Led Teaching

Theory and examples covered in the course are derived from research in the field of economics. In addition, students will have the opportunity to themselves engage in a small research tasks to problem solve throughout the semester.

Examination Material or equipment

Exams will be held remotely through the Class Wattle Site. Stable and reliable internet connection is necessary.

Recommended Resources

Text Book: Acemoglu, D., Laibson, D., and List, J.A, 2019, Microeconomics, Global Edition, 2nd Edition, Pearson, Australia. You can purchase the textbook from the bookstore on campus, a copy is available for short term loan in the Chifley Library and an ebook version is available via the ANU Library website: https://anulib.anu.edu.au/

Staff Feedback

Students will be given feedback in the following forms in this course:

• Answers to on-line quizzes will be provided in lectures
• Brief written comments will be given on in-tutorial quizzes
• Feedback on mid-semester exam will be given to the whole of class during lectures
• verbal feedback will be given to students seeking such via discussion with the tutors and/or lecturer during consultation

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

Each week tutorial questions for the following weeks tutorials will be uploaded onto wattle. It is expected that you prepare the answers to these questions. These questions will be DISCUSSED in the tutorial. To gain the most out of the tutorial, and to be able to participate in the discussion you will need to prepare. As answers are based on discussion, answers to all questions will NOT be posted on wattle.

Class Schedule

Week/Session	Summary of Activities	Assessment
1	Introduction (Chapters 1, 2 & 3) Demand (Chapter 4)
2	Demand and Consumers (Chapter 4)
3	Supply and Producers (Chapters 4 & 6)	on-line quiz (1); possible tutorial quiz
4	Equilibrium (Chapter 7)	possible tutorial quiz
5	Competitive Markets (Chapter 7)	on-line quiz (2); possible tutorial quiz
6	Role of the Government (Chapter 10)	possible tutorial quiz; possible mid-semester exam
7	Trade (Chapter 8)	on-line quiz (3); possible tutorial quiz; possible mid-semester exam
8	Externalities & Public Goods (Chapter 9)	possible tutorial quiz
9	Market Structure: Monopoly (Chapter 11)	on-line quiz (4); possible tutorial quiz
10	Game Theory and Strategic Play (Chapter 13)	possible tutorial quiz
11	Oligopoly and Monopolistic Competition (Chapter 14)	on-line quiz (5); possible tutorial quiz
12	Behavioural Economics (Chapter 18) & Revision	possible tutorial quiz

Tutorial Registration

Workshops this semester will be delivered both remotely (via Zoom) and on-campus. You are expected to attend one Workshop each week from Week 2 onwards. You must enrol in a Workshop using the Wattle site for this course, and attend the Workshop in which you are enrolled. A selection of workshops will be open for enrolment in O-week - the remaining Workshops will be open in week 1 of Semester. When Workshops are available for enrolment, follow these steps:

1.   Log on to Wattle, and go to the course site

2.   Click on the link “Workshop enrolment”

3.   On the right of the screen, click on the tab “Become Member of…..” for the tutorial class you wish to enter

4.   Confirm your choice

If you need to change your enrolment, you will be able to do so by clicking on the tab “Leave group….” and then re-enrol in another group. You will not be able to enrol in groups that have reached their maximum number. Please note that enrolment in ISIS must be finalised for you to have access to Wattle.

Assessment Summary

Assessment task	Value	Due Date	Return of assessment	Learning Outcomes
On-line quizzes	20 %	01/03/2021	31/05/2021	1,2,3,4,5
Take Home Exam	20 %	01/04/2021	22/04/2021	1,2,3,4,5,6
Assignment & Presentation	20 %	05/05/2021	21/05/2021	1,2,3,6
Final Exam	40 %	*	*	1,2,3,4,5,6

* 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 ANU Online website. 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 largely delivered through online platforms. Aspects of the delivery will be asynchronous. However, there will be synchronous activities also taking place (both online and on campus). 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. Attendance at synchronous activities, while not compulsory, is expected in line with “Code of Practice for Teaching and Learning”, clause 2 paragraph (b).

In addition, workshops for this course are a discussion-based class. Providing worked solutions would not effectively compensate for missing a workshop. Students who, through unavoidable and unplanned occurrences, are unable to attend a workshop one week are encouraged to work through the problems and attend a consultation session for discussion and solutions. Workshops in week 11 will involve assessable presentations.

Examination(s)

See information above in Assessment Task 4 regarding Examinations

Assessment Task 1

On-line quizzes

Five (5) times during the semester there will be an on-line quiz testing knowledge covered in the preceding weeks' lectures, and/or workshops. Each quiz will be worth 10 points and count for 4% to your final grade. The quizzes will be available with at least 2 days notice and be open for a period of 4 days. However, you will only have approximately 1 hour to complete the quiz and you can only attempt the quiz once. There will be instructions at the beginning of each quiz. Make sure you read them thoroughly before commencing. If you miss a quiz for a legitimate reason, documentation will need to be provided to econ1101@anu.edu.au, and your remaining quizzes will be re-weighted. Quiz answers will be provided upon closure of the quiz and detailed solutions and discussions provided online.

Assessment Task 2

Take Home Exam

In week 6 a take-home exam will be set. The exam will cover material from the preceding weeks (so weeks 1-5). You will have 48 hours to complete the exam. The exam will count 20% to your final grade. The questions will be posted on Wattle and you will need to upload solutions to Wattle at the due time. Further information (including a practice exam and practice upload link) will be provided in week 2.

Assessment Task 3

Assignment & Presentation

An individual written assignment will be due in week 9. The written submission will take the form of an Executive Summary with a maximum word limit of 600 words. Students will have a choice of a range of topics (posted on Wattle in week 4). The written submission will count for 15% of the grade. During week 11 workshops will focus on presentation/discussion of the submissions led by students. So all students in a given workshop who did Assignment A will lead a discussion on their results with remaining students asking questions/commenting, then students who did Assignment B will lead a discussion on their results with remaining students asking questions/commenting. Each Assignment Topic will have approximately 10 minutes for all relevant students to comment and/or answer questions. The workshop discussion will count a further 5% of the mark. Details will be provided in Week 4 with the release of the assignment topics.

Assessment Task 4

Final Exam

A final exam will be held during the ANU final exam period and will be delivered online via the Wattle Class Site. The exam will cover material presented throughout the entire course. The final exam is compulsory to attend and will count 40% to your final grade. The exam involves short and longer style questions/answers. The exam will be held over a 4 hour period. Further details will be given in lectures by 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

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

All in-class quizzes will be returned in the week following the assessment being undertaken.

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

n/a

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