- Class Number 7538
- Term Code 3160
- Class Info
- Unit Value 6 units
- Mode of Delivery In Person
- Prof Simon Grant
- Prof Simon Grant
- 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
Microeconomics provides the principal modelling tools and frameworks that are used in all fields of economics. The corresponding techniques are built on models of decision-making by economic agents, in environments with and without uncertainty, and on the analysis of interacting economic agents, in various settings such as markets or strategic situations. This course introduces the main techniques of microeconomics, at a level that lies between that of typical undergraduate courses, and that of Masters or PhD level courses. The results are presented and analysed using both intuitive graphical and formal mathematical methods. An important aim of the course is to show that the intuition gained from simple graphical models, and the insight derived from formal theoretical analysis are complementary, and that only the interplay between economic intuition and abstract results can lead to a complete understanding of the respective models and the conclusions drawn from their analysis.
Upon successful completion, students will have the knowledge and skills to:
- Understand the main models of decision-making by economic agents, such as consumers or firms, in environments with and without uncertainty;
- Distinguish between market-based and strategic models of interacting economic agents, and use such models to analyse economic problems;
- Be able to analyse economic models using both intuitive graphical and formal theoretical methods.
The course covers concepts, methodologies and techniques that form the foundation of modern research in all fields of economics.
The lecturer is a user and developer of decision theory, game theory and social choice theory in his own research. Consequently, (time permitting) students will be exposed to the use and recent developments in current economic research.
- Hal R. Varian, Intermediate Microeconomics with Calculus, W.W. Norton, 2020.
Copies of this textbook are available in the Chifley Library. Availability of an online version is currently being investigated and information will be advertised when known.
Students will be given feedback in the forms of verbal feedback during and after lectures and tutorials. Mid term exam will be marked and solution given. Individual feedback and help with lecture material and tutorial problems is available during consultation 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.
This is a dual-delivery course. Students are expected to regularly attend live tutorials (either in person or via the Zoom link). Lecture recordings are not a substitute for class attendance.
Your final mark for the course will be based on the raw marks allocated for each of your assessment items. However, your final mark may not be the same number as produced by that formula, as marks may be scaled. Any scaling applied will preserve the rank order of raw marks (i.e. if your raw mark exceeds that of another student, then your scaled mark will exceed the scaled mark of that student), and may be either up or down.
|Week/Session||Summary of Activities||Assessment|
|1||Preferences, utilities and choices||Tutorial activities|
|2||Preferences, utilities and choices||Tutorial activities; quiz 1|
|3||Classical utility and demand theory||Tutorial activities|
|4||Firms and production||Tutorial activities; quiz 2|
|5||Firms and production||Tutorial activities|
|6||Welfare Measures||Tutorial activities; quiz 3|
|7||Equilibrium and exchange economies||Tutorial activities|
|8||Equilibrium and exchange economies||Tutorial activities; quiz 4|
|9||Extensive games and Backward Induction||Tutorial activities|
|10||Strategic games and Nash equilibrium||Tutorial activities; quiz 5|
|12||Public Goods||Tutorial activities; quiz 6|
Tutorials will be delivered on campus but in a dual-delivery mode. More information will be provided on the class Wattle site in O-week.
|Assessment task||Value||Learning Outcomes|
|Fornightly Quizzes - 30%||30 %||1,2, 3|
|Final Examination - 70%||70 %||1,2,3|
* 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.
This is a remote (that is, on-line) delivery course. Lectures for each week will be uploaded to the Wattle page for the course.
Lectures will be supported by weekly tutorials commencing in week 2. I will upload to Wattle tutorial questions based on the previous week’s lecture material. I will go through answers to the tutorials on Wednesdays 3-4pm. Timetabling has allocated the lecture theatre in the Fenner School (48 Linnaeus Way) but I will be delivering the answers in a dual-delivery mode (via Zoom) but this will not be recorded, to protect privacy of the students participating in the tutorial. Tutorials are designed to help reinforce and apply material presented in lectures. However please note I will NOT be posting answers to tutorial questions. In addition to lectures and tutorials I will hold a weekly (Zoom) consultation session (Tuesday 1-2pm) for discussion of the material, tutorial questions and otherquestions students may have about the course.
Assessment Task 1
Learning Outcomes: 1,2, 3
Fornightly Quizzes - 30%
There will be 6 short quizzes administered through Wattle, each worth 6%, with the best 5 out of 6 counting toward the final grade. The plan is for the quizzes to run in weeks 2, 4, 6, 8, 10 & 12. Answers to each quiz will be posted on Wattle shortly after the conclusion of that quiz. Depending on the progress we are making through the semester, it may be necessary to reschedule one or more of the quizzes. However, students will be given at least one week notice should any quiz be rescheduled.
Assessment Task 2
Learning Outcomes: 1,2,3
Final Examination - 70%
The final exam will contribute 70% of the overall mark. Please note this is a hurdle assessment in line with the student assessment coursework policy (see
https://policies.anu.edu.au/ppl/document/ANUP_004603). You must achieve at least 40% in the final exam to pass the course.The final exam will be comprehensive, in the sense that questions may be drawn from all the topics discussed during the semester. The exam will be scheduled during the end-of-semester examination period, and will consist of 15 minutes reading time and 3 hours writing time. Given the current restrictions associated with the COVID pandemic, the exam will be held and invigilated via Zoom. This means it is essential for you to have a working camera so that the invigilator can ascertain it is you who is sitting the exam and that you are not accessing any prohibited materials nor seeking an unfair advantage during the exam. More details will be provided in lectures and on Wattle in week 10.
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. If an assessment task is not submitted by the due date, 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
Decision Theory, Game theory, Mathematical Economics
Prof Simon Grant