Economics 2(H) includes ECON2102 Macroeconomics 2 with two additional contact hours a week. It is designed for the better performing students who want to extend their exposure to economics beyond that offered in the standard second year courses in microeconomics and macroeconomics. As such, students enrolling in this course should have achieved at least a credit (above 60%) for Microeconomics 2.

The Honours component includes advanced material in intermediate microeconomics. It builds on material that students have studied in Microeconomics 2, and is more mathematical (using basic calculus). Lectures will include topics drawn from public finance, international economics, welfare economics and cost benefit analysis, such as

utility and choice, household production, expected utility and choice under uncertainty, general equilibrium models with production, the trade-off between equity and efficiency, the theory of the second best, cost benefit analysis and the social discount rate.

Learning Outcomes

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

1. demonstrate an understanding of a coherent set of ideas for underlying macroeconomic phenomena and policy issues;
2. demonstrate an understanding of the assumptions, structure and micro-foundations of a macroeconomic model and recognise its power and shortcomings;
3. formulate a relevant model and use such analytical tools in addressing a key macroeconomic question independently;
4. demonstrate an understanding of the different ways in which economic issues can be tackled;
5. demonstrate the ability to analyse problems from an economic perspective, or at least understand how economists think;
6. recognise the economic issues in a problem and apply the appropriate tools to analyse it.;
7. demonstrate an understanding of the economic tools taught in class and be able to apply them to analyse real world problems and policy issues.

Research-Led Teaching

Microeconomics forms the foundation for most research in Economics. The material covered in this course is based on long-established microeconomics theory. Beyond studying how markets work, some emphasis will be on where markets do not work. Accordingly, relevant literature will be addressed throughout the course.

Examination Material or equipment

Webcam is required for the final exam because the exam may be Zoom invigilated.

Required Resources

Lecture notes will be available to students.

Recommended Resources

Students are recommended to have access to a calculus-based intermediate microeconomics textbook. I recommend the following:

• Nechyba, T. (2016). Microeconomics: an intuitive approach with calculus. Cengage Learning.

A copy of the book will be available in the reserve & short loan collection of Chifley Library.

• Varian, H.R. (2014). Intermediate Microeconomics with Calculus: A Modern Approach. WW Norton & Company.

A copy of the book will be available in the reserve & short loan collection of Chifley Library. Some essential sections will be available to students on Wattle.

The availability of online versions for these texts are currently being investigated and information will be advertised when known.

Other essential resources will be available through Wattle or the online resources of ANU Library.

A good overview of the level of mathematics that will be used can be seen at:

• Mathematical Appendix and the Appendix to Chapter 5 from Intermediate Microeconomics by H. Varian

A copy of the book will be available in the reserve & short loan collection of Chifley Library.

Students who want a more comprehensive reading for mathematics may find the following book useful:

• Simon, C. P., & Blume, L. (1994). Mathematics for economists (Vol. 7). New York: Norton.

A copy of the book will be available in the Chifley Library.

Staff Feedback

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

• written comments (for the quiz and problem set),
• feedback to whole class over the questions in recent quizzes, and
• students are encouraged to come for consultation and feedback during the office hours.

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

Total Mark

The total mark for the ECON2016 will be the weighted average of the assessment outcomes in Pass (i.e. ECON2012) and Honours components. The weights will be 65 per cent and 35 per cent, respectively. Furthermore, the students need to get at least a Pass (above 50 per cent) in both components to pass the course.

Support for Students

The University offers a number of support services for students. Information on these is available online from http://students.anu.edu.au/studentlife/

RSE has a Frequently Asked Questions page where you can find relevant policies and information on a broad range of topics

https://www.rse.anu.edu.au/students/frequently-asked-questions/

Class Schedule

Week/Session	Summary of Activities	Assessment
1	Preferences and Utility Functions	Nechyba (4A)
2	Exchange Economy	Nechyba (4A, 16); Online Quiz 1 (Basics)
3	Competitive Equilibrium	Nechyba (16)
4	Efficiency and Equity Tradeoff; Coase Theorem	Nechyba (16), Varian (35.1-35.2)
5	Coase Theorem: Invariance Thesis	Nechyba (5, 7), Varian (35.1-35.2); Online Quiz 2 (Competitive Equilibrium)
6	Choice under Uncertainty	Nechyba (17), Varian (12.1-12.5)
7	Resource Allocation under Uncertainty: Insurance Contracts	Nechyba (17)
8	Market Failure: Asymmetric Information	Varian (38) and various papers; Online Quiz 3 (Contracts)
9	Hidden Types: A Monopoly Problem	Bolton & Dewatripont (2.13)
10	Hidden Types: Insurance Market	Nechyba (22B), Rothschild, M. & Stiglitz, J. (1976); Online Quiz 4 (Hidden Types)
11	Hidden Actions: Unemployment	Shapiro & Stiglitz (1984)
12	Review	Online Quiz 5 (Asymmetric Information)

Tutorial Registration

You are expected to attend one online workshop (tutorial) weekly. Registration not necessary. Students must register and participate in P component tutorials per requirements of ECON2102.

Assessment Summary

Assessment task	Value	Due Date	Return of assessment	Learning Outcomes
Final Exam	23 %	04/11/2021	20/11/2021	1,2,3,4,5,6,7
Online Quizzes	12 %	02/08/2021	29/10/2021	1,2,3,4,5,6,7
ECON2102 Online quiz 1 through wattle (15-30 mins)	3 %	09/08/2021	13/08/2021	1,2,3,4
ECON2102 Mid Semester Exam through Wattle and Zoom with camera on (60-90 mins)	17 %	30/08/2021	03/09/2021	1,2,3,4
ECON2012 Online quiz 2 through Wattle (15-30mins)	3 %	27/09/2021	01/10/2021	1,2,3,4
ECON2012 Online quiz 3 through Wattle (15-30mins)	3 %	11/10/2021	15/10/2021	1,2,3,4
ECON2012 Online quiz 4 through Wattle (15-30mins)	3 %	25/10/2021	29/10/2021	1,2,3,4
ECON2102 Final Exam through Wattle and being invigilated via Zoom with camera on (90-120 mins)	36 %	08/11/2021	30/11/2021	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 largely delivered through online platforms.?Aspects of the delivery will be asynchronous. However, there will be synchronous activities also taking place. Pre-recorded lectures will be available through ECHO360 on Mondays. Weekly workshops will be live through Zoom. More 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.

Pre-recorded lectures will be available through ECHO360 on Mondays.

Attendance at synchronous activities, while not compulsory, is expected in line with “Code of Practice for Teaching and Learning”, clause 2 paragraph (b). 

Workshops for this course are discussion-based class. Tutorial questions will be available on Wattle on Mondays at the same time as the pre-recorded lectures. Students are expected to prepare answers and bring them to the workshop for further discussion. As answers are based on discussion, detailed answers to all questions will NOT be posted on Wattle.

To gain the most from the workshops, students should be prepared and be able to participate. When possible, students are recommended to turn on their videos during a discussion. Using a virtual background is encouraged. Also, it is recommended to keep their microphones mute unless they want to participate.

Providing worked solutions would not effectively compensate for missing a workshop. Through unavoidable and unplanned occurrences, students who are unable to attend a workshop one week are encouraged to work through the problems and attend a consultation session for discussion and solutions. 

Examination(s)

Delivered online.

See Assessment Task 1 and the required assessments for ECON2102 (Assessment Task 3).

Assessment Task 1

Final Exam

• The final exam will be online.
• The final exam will be held during the semester 2 examination period, between 4/11/2021 and 20/11/2021.
• The exact date, time and other details will be announced in week 10.
• The exam will cover material from the whole semester and is worth 23% of the final grade.
• The exam will be online and through Wattle.
• The exam may be Zoom invigilated.

Assessment Task 2

Online Quizzes

• There will be 5 online quizzes delivered through Wattle.
• They will be held in weeks commencing 2/8/2021, 23/8/2021, 20/9/2021, 11/10/2021 and 25/10/2021.
• The days of the quizzes, either Thursdays or Fridays will be announced in week 1.
• The quizzes will open at 9am on the day of the quiz and will close at 3pm on the same day. This period will not be extended.
• Once started, students will have 15-45 minutes to finish the quiz.
• Questions will cover material from preceding weeks lectures and tutorials which will be emphasised the week before the quiz week.
• The exact time, the number of questions and their type will be announced on Wattle two days before the quiz.
• When answering questions, students may not return to previous pages nor skip ahead. Once the "Next Page" is clicked, there will be no option for returning to the question. Only one attempt will be allowed and late submissions will not be accepted.
• The four highest grades will be considered in aggregation. They will have equal weights. The aggregate mark will worth 12% of the final grade.
• If a student misses more than one quiz for an eligible reason (e.g. sickness with written certificate), the student may be instructed to take an equivalent test. Otherwise, the weighting will be transferred to the final exam.
• Marked quizzes will be returned to students within one week.

Assessment Task 3

ECON2102 Online quiz 1 through wattle (15-30 mins)

This test provides feedback on your progress. It will be administered online during week 3 and cover all topics in chapters 1-3. The results are released upon the close of the quiz. Students who miss the online quiz will be able to count the final exam for bigger weighting of the total mark. The results will be given back to students immediately or within a week after the quiz. Further details will be given in the course outline and also posted in the Wattle site in Week 2.

Assessment Task 4

ECON2102 Mid Semester Exam through Wattle and Zoom with camera on (60-90 mins)

The exact dates for each course will be announced by the University. The online mid-semester exam is not compulsory but recommended. Students who skip the mid-semester will be able to count the final exam for bigger weighting of the total mark. The exam will be held over wattle and invigilated via Zoom using camera. The results will be given back to students after the break. Further details will be given in the course outline and also posted in the Wattle site in Week 5.

Assessment Task 5

ECON2012 Online quiz 2 through Wattle (15-30mins)

This test provide feedback on your progress in week 8. The results are released upon the close of the quiz. Students who miss the online quiz will be able to count the final exam for bigger weighting of the total mark. The results will be given back to students immediately or within a week after the quiz. Further details will be given in lectures or in wattle. Further details will be given in the course outline and also posted in the Wattle site one week in advance.

Assessment Task 6

ECON2012 Online quiz 3 through Wattle (15-30mins)

This test provide feedback on your progress in week 10. The results are released upon the close of the quiz. Students who miss the online quiz will be able to count the final exam for bigger weighting of the total mark. Further details will be given in lectures or in wattle. The results will be given back to students immediately or within a week after the quiz. Further details will be given in the course outline and also posted in the Wattle site one week in advance.

Assessment Task 7

ECON2012 Online quiz 4 through Wattle (15-30mins)

This test provide feedback on your progress in week 12. The results are released upon the close of the quiz. Students who miss the online quiz will be able to count the final exam for bigger weighting of the total mark. Further details will be given in lectures. The results will be given back to students immediately or within a week after the quiz. Further details will be given in the course outline and also posted in the Wattle site one week in advance.

Assessment Task 8

ECON2102 Final Exam through Wattle and being invigilated via Zoom with camera on (90-120 mins)

The exact dates for each course will be announced by the University. The final exam (90-120 minutes) is compulsory for all students. The exam will be held over Wattle and invigilated via Zoom. The final results will be announced by the University in 2 December. Further details will be given in the course outline and also posted in the Wattle site during weeks 10-12.

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

N/A

Late Submission

No late submission of tasks without an extension after the due date will be permitted. If an assessment task is not submitted by the due date, a mark 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

N/A

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