- Class Number 7524
- Term Code 3160
- Class Info
- Unit Value 6 units
- Mode of Delivery In Person
- Dr James Taylor
- Dr James Taylor
- 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 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.
Upon successful completion, students will have the knowledge and skills to:
- demonstrate an understanding of the economic principles that underpin modern economics;
- have a basic understanding of the way budget constrained individuals make optimising choices and the way resources are allocated in private markets;
- demonstrate an understanding of the role of different trading arrangements in markets and their impact on prices and the quantities traded;
- use basic economic principles to evaluate the effects of government interventions and other exogenous changes in markets;
- evaluate the effects of government interventions in markets;
- present clearly written analysis of economic issues and problems
Theory and examples covered in the course are derived from research in the field of microeconomics. In addition, students will have the opportunity to complete a large personal project where they apply the concepts from class to a real-world application of their choice.
Examination Material or equipment
As exams will be held as take-home exams, all materials are permitted except talking to other people.
Textbook: 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, and copies will also be available for short term loan in the Chifley Library. Soft copies are also available through the ANU library.
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
- Help Desk/Consultation/Office Hours times are available every week for students to seek feedback on their work
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.
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.
|Week/Session||Summary of Activities||Assessment|
|1||Introduction to Microeconomics|
|2||Supply and Demand||possible Wattle quiz|
|3||Supply and Demand||possible Wattle quiz|
|4||Supply and Demand||possible Wattle quiz|
|5||Economics of the Firm||possible Wattle quiz|
|6||Economics of the Firm||possible Wattle quiz, possible mid-semester exam|
|7||Economics of the Firm||possible Wattle quiz, possible mid-semester exam|
|8||Factor Markets||possible Wattle quiz|
|9||Taxes, Public Goods, and Externalities||possible Wattle quiz|
|10||Topics in Microeconomics (Trade, Game Theory, Behavioural Economics)||possible Wattle quiz|
|11||Topics in Microeconomics (Trade, Game Theory, Behavioural Economics)||possible Wattle quiz, personal project due|
|12||Topics in Microeconomics (Trade, Game Theory, Behavioural Economics)||possible Wattle quiz, final exam during exam period|
Tutorials this semester will be delivered both remotely (via Zoom) and on-campus. You are expected to attend one tutorial each week from Week 2 onwards. You must enrol in a tutorial using the Wattle site for this course, and attend the tutorial in which you are enrolled. A selection of tutorials will be open for enrolment in O-week - the remaining tutorials will be open in week 1 of Semester. When tutorials are available for enrolment, follow these steps:
1. Log on to Wattle, and go to the course site
2. Click on the link “Tutorial 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 task||Value||Due Date||Return of assessment||Learning Outcomes|
|Wattle quizzes||15 %||*||*||1,2,3,4,5,6|
|Personal Project||15 %||18/10/2021||03/11/2021||1,2,3,4,5,6|
|Mid Semester Exam||25 %||*||*||1,2,3,6|
|Final Exam||45 %||*||*||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
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.
Due to travel restrictions this course will be delivered through a mix of on-campus and 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).
Course content will be delivered primarily through pre-recorded lecture modules, supplemented by a weekly workshop. Both a face-to-face and online version of the workshop will be available.
In addition, tutorials for this course 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 one week are encouraged to work through the problems and attend a consultation session for discussion and solutions.
See information above in Assessment Tasks 3 and 4 regarding Examinations.
Assessment Task 1
Learning Outcomes: 1,2,3,4,5,6
Six (6) times during the semester you will need to complete a short quiz on Wattle (10-20 minutes). Quizzes will be announced a week in advance, and students will have a 24 hour window to begin the task. The question(s) will be based on the previous weeks lecture material (and thus the current week's tutorial questions). They will be given a grade out of 3. The best 5 out of 6 quizzes will count (3% each) to your final grade.
Quizzes will be returned no later than the tutorial in the following week. The first quiz will be returned prior to Week 6.
Assessment Task 2
Learning Outcomes: 1,2,3,4,5,6
The personal project is an extended writing task. Each student will develop an economic question, and provide some work towards solving their chosen question. This is expected to be 3-4 pages in length when completed. More details will be provided on Wattle at least two weeks prior to the due date. The project must be submitted through Turnitin on Wattle.
Assessment Task 3
Learning Outcomes: 1,2,3,6
Mid Semester Exam
A mid-semester exam will be held during the ANU mid-semester exam period - (Week 6 and Week 7). The exam will cover material presented throughout the first half of the semester. The mid-semester exam is compulsory to attend and will count 25% to your final grade. The exam will will be a take-home exam, and available for multiple days. Further details will be given on Wattle two weeks prior to the exam.
Assessment Task 4
Learning Outcomes: 1,2,3,4,5,6
A final exam will be held during the ANU final exam period. The exam will cover material presented throughout the entire course. The final exam is compulsory to attempt and will count 45% to your final grade. The exam will will be a take-home exam, and available for multiple days. Further details will be given 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.
Wattle quizzes will be returned during the following week. Exam results will be returned within 3 weeks of the exam.
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
No assessment items will allow resubmission.
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
Game Theory, Decision Theory
Dr James Taylor