Building upon material introduced in Microeconomics 1, this course aims to provide a solid understanding of basic microeconomic theory and the ability to apply those tools and ideas. Models describing the economic behaviour of individual decision-makers and the outcomes of markets are developed and applied to examine the welfare of market participants. Questions addressed include: What influences consumer demand decisions and how? How do firms decide on how much to produce and how much inputs to use? How do prices function to coordinate economic activity? What is meant by economic efficiency? When do markets fail to achieve efficient outcomes? Training in economic analysis is achieved via weekly tutorials that go over problem sets linked to material presented in lecture. Overall, the course takes an analytical approach emphasising rigorous logical reasoning and economic problem solving.

Learning Outcomes

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

1. describe the main microeconomic/neoclassical theory of consumer and producer behaviour
2. apply economic concepts to solve for choices made by consumers and producers
3. assess the economic efficiency of market outcomes for different market structures, in the presence of externalities, and/or when influenced by government intervention
4. compare and contrast the information needed for markets or for the government to allocate resources efficiently

Research-Led Teaching

The material taught in this course is directly relevant to various applied microeconomic research topics that have been considered by economists in academia, various public sector agencies, and various private sector organisations. Professor Meagher has made significant contributions to the theory, empirics and practice of Organisational Economics and this will be reflected in the way the class extends beyond the standard textbook material.

Field Trips

n.a

Additional Course Costs

n.a

Examination Material or equipment

Online exams/quizzes will be conducted through the class Wattle Site. A stable and reliable internet connection is necessary. A calculator or equivalent will be required.

Required Resources

Nicholson, W., & Snyder, C., 2020, Intermediate Microeconomics and its Applications, 13th edition, Cengage Learning, USA (physical or ebook). You can probably get by with the 12th edition (chapter numbers are slightly different but the chapter titles are easy to match).

The text book is available in Chifley Library on 2hr reserve. The 12th edition is availableonline through the library catalogue.

Recommended Resources

See course Wattle site for readings and other resources.

Staff Feedback

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

• Graded quizzes.
• Graded mid-semester exam.
• Written feedback on short answer quizzes.
• Verbal feedback upon request during consultation hours and tutorials.

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

Work-Load Expectations

The amount of work required for successful completion of this class may vary between students. As a rough guide, students should expect to devote at least 10 hours a week to this class. This should include all of the following.

• 3-4 hours a week: lectures and lecture recordings.
• 1 hour a week: tutorials.
• At least 5-6 hours a week: reading, research, writing, lecture and tutorial preparation.

Attendance Expectations

As a general rule, students should aim to attend all lectures and tutorials for this class unless they have a very good reason for not doing so. Recognising that occasional absences are often unavoidable, students are expected to attend at least 80 per cent of all lectures and tutorials (combined) for this class. The main exceptions to this are absences for medical or other reasons that can be supported by an appropriate form of official documentation.

Class Schedule

Week/Session	Summary of Activities	Assessment
1	Consumer Utility and Choice	Chapter 3 (background Chapters 1 and 2) of N&S
2	Demand and Comparative Statics	Chapter 4 N&S
3	Uncertainty, Strategy and Time	Chapter 5, 15 N&S, + readings made available on Wattle; Online short answer #1 (Week 3)
4	Uncertainty, Strategy and Time	Chapter 6, 5, 14 N&S, + readings made available on Wattle
5	Institutions	Readings on Wattle (background Chapter 15 N&S). Online quiz #1 (Week 5)
6	Production	Chapter 7 N&S, + readings made available on Wattle. Mid-semester exam (week 6 or 7 subject to scheduling)
7	Costs in SR and LR	Chapter 8 N&S; Mid-semester exam (week 6 or 7 subject to scheduling)
8	Profit maximisation and supply	Chapter 9 N&S.
9	Perfect Competition, General Equilibrium and Welfare	Chapter 10 & 11 N&S; Online short answer #2 (Week 9)
10	Market Power	Chapter 12 &13 N&S + readings on Wattle. Online quiz #2 (Week 10)
11	Market Power and Strategic Behaviour	Chapter 12 &13 N&S + readings on Wattle;
12	Information and Political Economy	Chapter 16 N&S + readings on Wattle

Tutorial Registration

Tutorials this semester will be delivered both remotely (via Zoom) and on-campus. Zoom tutorials are for students who are unable to be in Canberra due to travel restrictions. 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 prior to the beginning of the semester - 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 Summary

Assessment task	Value	Due Date	Return of assessment	Learning Outcomes
Online quizzes	10 %	24/03/2022	19/05/2022	1,2,3,4
Online Short Answer	10 %	10/03/2022	13/05/2022	1,2,3,4
Mid-semester Exam	30 %	*	*	1,2,3,4
FInal Exam	50 %	*	*	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

Lectures will consist of an initial pre-recorded component for each topic/week followed by 2 face to face lectures (1 face to face in the weeks with the online short answer task). You are expected to have watched the prerecoreded component before attending the face to face lectures. The face to face lectures will be more interactive. The face to face lectures will be recorded on Echo 360 and available soon after the lectures on the course Wattle page. The face to face component may change subject to panademic isolation rules.

Live tutorials (face to face and online) will occur from week 2. Tutorials for this course are a learning activity and include a significant discussion-based component. Worked solutions are not provided because they would not effectively compensate for missing a tutorial. Worked solutions imply that there is a unique correct solution and are therefore in opposition to the development of professional judgement, which is a key part of this course. 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 to discuss any questions they have about their solutions.

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

Examination(s)

Delivered on-line and moderated. They will be open book.

Assessment Task 1

Online quizzes

Throughout the semester there will be 2 online quizzes delivered through Wattle (5% each). These quizzes will be held in weeks 5, and 10. They will examine material from all the preceding weeks' lectures and tutorials. The Wattle quiz will be available over a period of 3 days (typically Thursday night to Sunday night), however, the quiz, once started is only open for 50 minutes. Opening of the quizzes will be given with at least 2 days notice. There will be 10 questions to be answered. They will be randomly assigned. Please also note that you will not be able to navigate backwards through the quiz and there is only one attempt allowed. No late submission accepted. Results will be available within 3 days.

This assessment is worth 10% of your final grade. However, if you do better in the final exam than in all other assessment tasks combined then the weighting of this assessement task will be reduced to 5% with a corresponding increase in the weighting on your final exam. See final exam details for an explaination of the overall weighting formula.

Assessment Task 2

Online Short Answer

Throughout the semester there will be 2 Online Short Answer tasks delivered through Wattle (5% each). These Online Short Answer tasks will be held in weeks 3, and 9 during the Thursday lecture time, 3-4pm and will be accessed through Wattle. They will examine material from all the preceding weeks' lectures and tutorials. The Online Short Answer tasks are 40 minutes reading and writing time. Answers will involve written explaination and analysis and may include the use of diagrams. There will be 2 questions to be answered (perhaps with muliple parts). Submission will either be through a Wattle Quiz or TurnItIn, details will be provided at least 2 days before the start of each task. No late submission accepted. Results will be available within approximately 2 weeks.

This assessment is worth 10% of your final grade. However, if you do better in the final exam than in all other assessment tasks combined then the weighting of this assessement task will be reduced to 5% with a corresponding increase in the weighting on your final exam. See final exam details for an explaination of the overall weighting formula.

Assessment Task 3

Mid-semester Exam

The mid-semester exam will be conducted during the ANU mid-semster exam period (weeks 6 and 7). It will cover all the material from lectures and tutorials in weeks 1-5. More information will be provided on Wattle in week 4. The mid-semester exam is compulsory and will count for 30% of your final grade. The exam will involve multiple choice, short and long answer questions. I anticipate the exam will be 2 hours (including reading time) and delivered online through the course Wattle site. The multiple choice and numerical answer section will be available first and must be completed before the written answer section becomes available. The mulitple choice and numerical questions will be randomly assigned. Please also note that you will not be able to navigate backwards through the exam and there is only one attempt allowed

This assessment is worth 30% of your final grade. However, if you do better in the final exam than in all other assessment tasks combined then the weighting of this assessement task will be reduced to 15% with a corresponding increase in the weighting on your final exam. See final exam details for an explaination of the overall weighting formula.

Assessment Task 4

FInal Exam

Final Exam will be held during the ANU Exam block at the end of the semester. The exam will cover all material covered in the course including readings (detailed guidance will be given in lectures about which sections of readings can be omitted). More information will be made available in week 10 of semester on Wattle and through the ANU exam timetable. The final exam is compulsory and will count for 55% of your final grade. The exam will involve multiple choice, short and long answer questions. I anticipate the exam will be 2 hours (including reading time) and delivered online through the course Wattle site, details will be advised on Wattle by week 10.

The exam is worth 50% unless you do better on the final exam than other assessments combined in which case the weighting of the other assessments will be reduced by half and transferred to the final.

Weighting A: 10% + 10% + 30% + 50%

Weighting B: 5% + 5% +15% + 75%

The best option of these two will be used for your final grade.

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

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.

Late Submission

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.

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

Please refer to the information on this that was provided above in the discussion of the various assessment tasks. 

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 resubmission of any assignment after the due date and time for its submission will be permitted in this class.

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