This course introduces economic concepts and principles which are useful in understanding the general economic environment within which businesses and other organisations operate.

Microeconomics examines how consumers and firms make decisions and how they interact with each other in markets. Topics covered include supply and demand, consumer and firm behaviour, price determination and the operation of markets, situations of market failure, and the impact and role of government on the economy.

Macroeconomics studies the entire economy and its wellbeing. Macroeconomics looks at the effect of factors such as inflation, exchange rates, interest rates and trade on the well being and stability of the economy.

Learning Outcomes

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

1. demonstrate an understanding of the introductory, canonical models of consumer and producer behaviour and of the macroeconomy.
2. demonstrate a basic understanding of the operation of a modern economy.
3. evaluate the effects of government interventions in individual markets and in the macroeconomy.

Research-Led Teaching

Theory and examples covered in the course are derived from research in the field of economics. In addition, students will have the opportunity to themselves engage in a small research project.

Examination Material or equipment

Exams will be held online through the Wattle site.

Required Resources

Acemoglu, D., Laibson, D., and List, J.A, 2018, Economics, Second Global Edition, Pearson, New York. The text book will be available in the University book shop (Harry Hartog) and on short loan at the Chifley Library. Also available as an e-book in the library.

Recommended Resources

You can use a different edition of the text book. Acemoglu, D., Laibson, D., and List, J.A, 2016, Economics, Global Edition, Pearson, Australia. This text book is available on short loan at the Chifley Library.

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	Introduction to Economics (Chapters 1, 2 & 3)
2	Consumers and Demand Theory (Chapter 5)
3	Producers and Supply Theory (Chapter 6)	Quiz
4	Government and the Economy (Chapters 9 & 10)	Short Answer Assignment
5	Perfect Competition (Chapters 6 & 7)	Quiz
6	Imperfect Competition (Chapters 12 & 14)	Mid-Semester Exam (tentative)
7	Macroeconomic Aggregates (Chapters 19 & 20)
8	Economic Growth and Development (Chapter 21 & 22)
9	Employment and Unemployment (Chapter 23)	Quiz
10	Monetary System (Chapter 25)	Short Answer Assignment
11	Economic Fluctuations and Macroeconomic Policy (Chapters 26 & 27)	Quiz
12	International Trade (Chapter 28)

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. Tutorials will be delivered both remotely (Zoom tutorial) and on-campus (F2F). Sign-up for tutorials will be available on the Wattle site in O-week - the remaining tutorials will be open in Week 1 of the Semester.

ANU utilises MyTimetable to enable students to view the timetable for their enrolled courses, browse, then self-allocate to small teaching activities / tutorials so they can better plan their time. Find out more on the Timetable webpage. https://www.anu.edu.au/students/program-administration/timetabling].

Assessment Summary

Assessment task	Value	Due Date	Return of assessment	Learning Outcomes
Quizzes	15 %	08/08/2022	14/10/2022	1,2,3
Mid-Semester (Microeconomics) On-line Exam	35 %	*	*	1,2,3
Short Answer Assignments	15 %	22/08/2022	21/10/2022	1,2,3
Final (Macroeconomics) On-line Exam	35 %	*	*	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. The core content of the course will be delivered via pre-recorded lecture modules each week. Tutorials will be both on-campus and online live tutorials. There will be a fortnightly discussion session providing a general feedback to assessments. 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 Mid-Semester and Final Exams.

Assessment Task 1

Quizzes

Throughout the semester there will be four online quizzes through the Wattle site. Quizzes will cover the lecture/tutorial materials from the preceding weeks. The best 3 of 4 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.

Each quiz will be 15 points and count for 5% to your final grade. The quizzes will be available with at least 2 days notice and be open for 48 hours. However, the quiz, once started, is available for 50 minutes. Please note that you will not be able to navigate backwards through the quiz and one attempt only is allowed. Quiz answers will be provided upon closure of the quiz and will be reviewed in the discussion session. Late submissions will not be accepted.

Assessment Task 2

Mid-Semester (Microeconomics) On-line Exam

A mid-semester exam will be held during the ANU mid-semester exam period (Week 6 or Week 7). This exam will include all material from the Microeconomics component of the course, covering material from Weeks 1-6. It is worth 35% of the final grade. The exam date and time will be determined by Central Examinations. Further details will be provided by Week 5.

The mid-semester exam will involve multiple choice (Wattle quiz, 30%) and short and long answer questions (via Wattle submission link, 70%). The length of the exam is 3-hours (including reading time). At the end of the exam, you will have up to 30 minutes to scan and upload your answers to short and long answer questions via the link in the Wattle site for the course. The exam is a closed-book exam and will be invigilated with Zoom. Late submission will not be accepted.

Assessment Task 3

Short Answer Assignments

There will be two Online Short Answer assignments, each is worth 7.5% of the final grade. These online short answer tasks will be held in weeks 4 and 10 through the Wattle site and cover material from all the preceding weeks' lectures and tutorials. Each task is 40 minutes reading and writing time, with a 15-minute upload time. There will be two questions with multiple parts to be answered. Answers will involve written explanation and analysis and include the use of diagrams. Details will be provided in the preceding week of each assignment. Late submissions will not be accepted.

Assessment Task 4

Final (Macroeconomics) On-line Exam

Final exam will be held during the ANU Exam block at the end of the semester. This exam will include all material from the Macroeconomics component of the course, covering material from Weeks 7-12. It is worth 35% of the final grade. Material from Weeks 1-6 will not be directly examined, but may be indirectly examined. The exam date and time will be determined by Central Examinations. More information will be available in Week 10.

The final exam will involve multiple choice (Wattle quiz, 30%) and short and long answer questions (via Wattle submission link, 70%). The length of the exam is 3-hours (including reading time). You will have up to 30 minutes to scan and upload answers via the link in the Wattle site for the course. The exam is a closed-book exam and will be invigilated with Zoom. Late submission will not be accepted.

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

Quizzes will be returned by Monday of the following week.

Short assignment 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