Modern economics is a way of thinking that provides important insights into human behaviour and how the world works. The emphasis in Microeconomics 3 is on deepening students' understanding of the basic principles of microeconomics and learning how to use these principles to analyse real world problems and policy issues. The course builds upon the material covered in Microeconomics 1 and 2 by treating some of the concepts introduced in previous microeconomic courses with greater degree of formality. The course also covers more advanced tools of microeconomic theory and applications of the theory to a range of economic problems. Topics and techniques that are emphasized include: concepts and measurement of individual and aggregate consumer welfare, partial and general equilibrium efficiency analysis, choice under uncertainty and information economics.

Learning Outcomes

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

1. Think for themselves like economists, or at least understand how economists think.
2. Recognise the economic issues in a problem and apply the appropriate tools to analyse it.
3. 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

Theory and examples covered in the course are derived from research in the field of economics. In addition, students will critically engage with important published works in the field.

Examination Material or equipment

Examinations are expected to be held as open-book take-home exams.

Required Resources

Varian, H.R., 1992, Microeconomic Analysis, 3rd Edition. (available in paperback and hardcover, we are looking into whether an e-book is also available)

Recommended Resources

Varian, H.R., Intermediate Microeconomics.

Gravelle, H., and Rees, R., Microeconomics

Nicholson, W., and Snyder, C., Microeconomic Theory

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	Social Welfare as a Policy Goal
2	Consumer Behaviour
3	Consumer Behaviour	Possible Weekly Quiz
4	Consumer Behaviour	Possible Weekly Quiz
5	Asymmetric Information	Possible Weekly Quiz
6	Producer Behaviour	Mid-Semester Exam (tentative), Possible Weekly Quiz
7	Producer Behaviour	Major Project Outline Due, Possible Weekly Quiz
8	Market Structures	Possible Weekly Quiz
9	Market Structures	Possible Weekly Quiz
10	Experimental Economics	Possible Weekly Quiz
11	Public Goods and Externalities	Major Project Due, Possible Weekly Quiz
12	Choice over Time	Possible Weekly Quiz

Tutorial Registration

You are expected to attend one tutorial each week from Week 2 onward. You must enrol in a tutorial using the Wattle site for this course, and attend the tutorial in which you are enrolled. Due to continuing COVID restrictions, we will offer two types of tutorial. You may enrol either in an on-campus tutorial, or in a Zoom tutorial. Further details on tutorial enrolment are available on Wattle.

Assessment Summary

Assessment task	Value	Due Date	Return of assessment	Learning Outcomes
Weekly quizzes	15 %	*	*	1,2,3
Mid-Semester Exam	15 %	*	*	1,2,3
Major Project Outline	5 %	19/04/2021	26/04/2021	1,2,3
Major Project	20 %	21/05/2021	02/06/2021	1,2,3
Final Exam	45 %	*	*	1,2,3

* 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

This is a dual delivery course. Attendance at all teaching events, either in-person or online, while not compulsory, is expected in line with “Code of Practice for Teaching and Learning”, clause 2 paragraph (b).

 In addition, tutorials are a discussion-based class. Providing worked solutions would not effectively compensate for missing a tutorial. Students who, through unavoidable and unplanned occurrences, are unable to attend a tutorial class one week are encouraged to work through the problems and attend a consultation session for discussion and solutions.

Examination(s)

The course includes both a Mid-Semester and Final Exam.

Assessment Task 1

Weekly quizzes

Throughout the semester there will be a series of weekly quizzes. There will be 6 quizzes throughout the semester, held over Wattle on Mondays. Each quiz will take 10-20 minutes to complete, and be based on the tutorial material from the previous week.

These quizzes are designed to be relatively straightforward, so that as long as you have appropriately prepared, then you would typically get 2/3 or 3/3 marks.

Only your best 5 of 6 tutorial quizzes will count toward your final grade. If you miss one quiz for any reason that is simply the quiz which does not count. If you miss multiple quizzes for valid reasons (illness etc.) then assessment will be re-weighted.

Assessment Task 2

Mid-Semester Exam

This exam will include all material covered so far in the course. It is worth 15% of the final grade. The exam date and time will be determined by Central Examinations, but I anticipate it will be in Week 6. Further details to follow by end of Week 4.

At this time, we expect the exam to be held as a take-home exam.

Assessment Task 3

Major Project Outline

Prior to completing your Major Project (see next assessment task), you will need to complete an outline of what you intend to cover in your final report. There is a word limit of 300 words (not including titles, bibliography, tables, graphs, etc.). Late submissions will not be accepted.

Options for group submissions will be available, though the expected length and detail of the assignment will, of course, be different.

A complete description of the assignment will be provided no later than Week 3 of the semester.

Assessment Task 4

Major Project

The major project is an extended writing task. Each student will choose from a selection of important classical papers in Microeconomics and write a report on the context in which the paper was written, the findings of the paper, and the impact on the economics discipline. There is a word limit of 2500 words (not including titles, bibliography, tables, graphs, etc.). Late submissions will not be accepted.

Options for group submissions will be available, though the expected length and detail of the assignment will, of course, be different.

A complete description of the assignment will be provided no later than Week 3 of the semester.

Assessment Task 5

Final Exam

This exam will include all material from the the entire course. It is worth 45% of the final grade. The exam date and time will be determined by Central Examinations. Further details to follow by end of Week 10.

At this time, we expect the exam to be held as a take-home exam.

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

Hard-copy submissions will not be accepted for any assessments.

Late Submission

Individual assessment tasks may or may not allow for late submission. Policy regarding late submission is detailed below:

• Late submission not permitted. If 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

Weekly quizzes will be returned by the following tutorial.

Personal project marks and (short) comments will be returned through Wattle.

Exam scripts can be viewed in line with the Research School of Economics exam viewing procedure.

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

Resubmission of assignments is not permitted.

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