- Class Number 6720
- Term Code 3160
- Class Info
- Unit Value 6 units
- Mode of Delivery In Person
- AsPr Idione Meneghel
- AsPr Idione Meneghel
- Class Dates
- Class Start Date 26/07/2021
- Class End Date 29/10/2021
- Census Date 14/09/2021
- Last Date to Enrol 02/08/2021
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.
Upon successful completion, students will have the knowledge and skills to:
- Individual Decision Makers: State and prove the fundamental properties of consumer and producer behaviour in neoclassical economics
- Markets: explain and apply the results of, Game Theory and General Equilibrium in understanding the properties of basic market structures.
- Mechanism Design: use mechanism design techniques to establish the structure of optimal incentive contracts and apply contract design to solve economic problems.
- Uncertainty: explain and apply the results of, and methods used in, expected utility theory
- 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.
- Modelling: Describe relevant economic situations as games or optimization problems.
- Solving: Use curvature and monotonicity properties to establish the solutions and comparative static properties for relevant economic models.
Students will learn the foundations of modern microeconomic theory and the course will provide them an opportunity to familiarize with research questions and results in this field of economics. Further, students will have exposure to discipline-specific research methods and techniques, thus the course will provide them an opportunity to develop these skills.
Examination Material or equipment
Non-programmable calculators are permitted on exams.
Textbooks and additional readings will be available on reserve or as electronic versions on Wattle.
Students will be given verbal feedback during and after lectures and tutorials. Individual feedback as well as discussions of solutions to assignments will be given during office hours.
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.
|Week/Session||Summary of Activities||Assessment|
|1||Choice||Weekly assignment, final exam|
|2||Preferences||Weekly assignment, final exam|
|3||Choice under uncertainty||Weekly assignment, final exam|
|4||Risk and uncertainty||Weekly assignment, final exam|
|5||Basic models of games||Weekly assignment, final exam|
|6||Normal-form games||Weekly assignment, final exam|
|7||Games of incomplete information||Weekly assignment, final exam|
|8||Extensive-form games||Weekly assignment, final exam|
|9||Games with communication and correlated equilibria||Weekly assignment, final exam|
|10||Information economics 1||Weekly assignment, final exam|
|11||Information economics 2||Weekly assignment, final exam|
Tutorials will be run live on Zoom. More information will be available on Wattle in O-week.
|Assessment task||Value||Learning Outcomes|
|Weekly assignments (30%)||30 %||1,2,3,4,5,6,7|
|Final exam (70%)||70 %||1,2,3,4,5,6,7|
* 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:
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.
The course will be run either live on Zoom or as pre-recorded lectures (depending on attendance).
Assessment Task 1
Learning Outcomes: 1,2,3,4,5,6,7
Weekly assignments (30%)
Students are required to submit written solutions to weekly assignment problems, with the exception of week 1 of the semester. The 8 highest marks out of these 11 assignments will be used to compute the 30% assignment component of the final grade. Assignment questions will be released on the Monday of each week, and must be submitted through Turnitin by 6pm Friday of the following week (that is, assignments are due approximately 10 days after posted). Assignment questions will expand on the topics and ideas covered in class during that week. You may discuss the assignment problems with other students, but each student is required to submit their own written solution. Assignments will be submitted electronically. Answers will be provided on Wattle during the week after submission.
Assessment Task 2
Learning Outcomes: 1,2,3,4,5,6,7
Final exam (70%)
The final exam will cover material discussed throughout the entire course. It is compulsory and will be scheduled during the end-of-semester examination period. Further details will be provided on Wattle in week 10. The final exam paper will be posted on Wattle and invigilated over Zoom. You may submit your answers through Turnitin or by email.
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.
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.
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.
No submission of assessment tasks without an extension after the due date will be permitted. In this case, a mark of 0 will be awarded.
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.
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.
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
microeconomic theory, game theory, decision theory, auction theory, and mechanism design
AsPr Idione Meneghel