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 private sector organisations.

Field Trips

n.a

Additional Course Costs

n.a

Required Resources

Nicholson, W., & Snyder, C., 2015, Intermediate Microeconomics and its Applications, 13th edition, Cengage Learning, USA.

The text book is available in Chifley Library on 2hr reserve. An online version of the text is also currently available through the ANU library catalogue.

Staff Feedback

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

• Answers to on-line quizzes will be provided upon the closure of the quiz and recorded explanations provided.
• Feedback on mid-semester exam through brief comments on the exam submissions; an Answer Key provided; whole- of- class summary feedback recording; opportunity to book 10min session with tutors during week 9.
• verbal feedback will be given to students seeking such via discussion with the tutors and/or lecturer during consultation

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	Consumer Utility and Choice	Chapter 1 and 2 of N&S
2	Demand and Comparative Statics	Chapter 3 N&S
3	Intertemporal Choice	Reading made available on Wattle; online quiz #1
4	Choice Under Uncertainty	Chapter 4 N&S
5	Production	Chapter 6 N&S; Online quiz #2
6	Costs in SR and LR	Chapter 7 N&S
7	Profit maximisation and supply	Chapter 8 N&S; Online quiz #3
8	Perfect Competition	Chapter 10 N&S
9	General Equilibrium	Chapters 11 N&S;online quiz #4
10	Market Power (1)	Chapter 12 N&S + readings on Wattle;
11	Market Power (2) and Strategic Behaviour	Chapter 13 N&S; online quiz #5
12	Asymmetric Information	Chapter 16 N&S

Tutorial Registration

Interactive workshops will be held weekly (starting from week 2). Workshops will be available both on campus and via zoom. 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
Online quizzes (25%)	25 %	11/08/2022	15/08/2022	1,2,3,4
Workshop Answer submissions (24%)	24 %	08/08/2022	*	1,2,3,4
FInal Exam (41%)	41 %	*	*	1,2,3,4
Workshop Participation (10%)	10 %	*	*	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

• Lecture material for this course will be delivered in a hybrid format. Some lecture material will be delivered as pre-recorded modules (available each Monday morning). These videos need to be watched PRIOR to the Thursday LIVE lecture where further material will be delivered in an interactive way. Students are expected to be prepared by having listened to the pre-recorded modules and ready to interact/discuss this material and further extensions. Students unable to make the F2F lectures will be able to access the recordings via the Echo360 platform (via the Wattle website).

• Interactive workshops will also be held each week - these will be available on campus and a limited number online for those students with restricted travel options. You must attend the workshop you are enrolled in throughout the semester (limited options are available for changing workshop enrollment beyond week 3). Participation in these workshops counts toward 10% of your grade - details are available in Assessment Task 4. During these workshops you will work with a group to submit a group answer to one of the questions you have already answered individually. No marks will be awarded to this submission, however, tutors will mark and provide feedback on this submission as if it were an exam answer - providing you with further practice and detailed feedback in preparation for the formal exam.

Examination(s)

Delivered on-line.

Assessment Task 1

Online quizzes (25%)

Throughout the semester there will be 5 online quizzes delivered through Wattle. Details are as follows:

• These quizzes will be held in weeks 3, 5, 7, 9 and 11.
• They will cover material from the preceding weeks lectures and tutorials.
• The wattle quiz will be available over a period of 4 days, however, the quiz, once started is only open for 1.5 hours.
• There will be 10 questions to be answered. The questions will be a mix of MCQ and short answer. For the short answer questions you will need to upload a handwritten answer to the wattle quiz. The questions 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 submissions accepted or extensions granted.
• Answers to on-line quizzes will be provided upon the closure of the quiz and recorded explanations provided.

Assessment Task 2

Workshop Answer submissions (24%)

Each week - beginning in week 3 - students will be required to submit answers to the workshop questions via Wattle assignment. Details are as following:

• The workshop questions will be released Thursday of each week and the answers will be due in Monday morning 10am of the following week. For example, Thursday of week 2 workshop questions will be released (based on material delivered in lectures during week 2), answers to these questions are due Monday 10am of week 3.
• Your answers will receive a grade of 0 (not handed in); 1 (little effort/understanding); 2 (moderate effort/understanding); 3 (full effort with good understanding).
• Workshop questions due Monday week 9 will instead be due on Tuesday (4/10) due to the public holiday.
• The best 8/10 will count toward your final grade
• Answers to the workshop questions will be discussed in that week's workshops.
• No late submissions will be accepted as the answers are discussed shortly after the submission deadline.

Assessment Task 3

FInal Exam (41%)

Final Exam will be held during the ANU Exam block at the end of the semester. Details are following:

• The exam will be delivered online.
• The exam questions will most likely be available as a PDF.
• Students will need to submit their solutions individually through Wattle. Practice submission sites will be available prior to the exam.
• Zoom invigilation of the exam may occur.
• The exam will cover all material delivered in lectures and tutorials over weeks 1-12.
• More information will be made available in week 10 of semester on Wattle.

Assessment Task 4

Workshop Participation (10%)

Your participation in workshop discussions each week will be assessable, counting for 10% of your final grade. There are 11 workshops throughout the semester, participation is expected in the majority of these sessions. Each week the tutor will mark your participation based on your level of engagement in the session and demonstrated understanding of the material discussed.

For example:

• higher marks (8-10) will be awarded for consistent demonstration of engagement and demonstration of a high level of understanding of the majority of the material discussed each week;
• 7 is awarded for somewhat consistent demonstration of engagement and demonstration of a reasonable level of understanding of the majority the material discussed each week;
• 6 is awarded for somewhat consistent demonstration of engagement and demonstration of a reasonable level of understanding of the some of the material discussed each week;
• 5 is awarded for somewhat inconsistent demonstration of engagement and demonstration of passable level of understanding of the material discussed each week;
• less than 5 is awarded for inconsistent to little demonstration of engagement and rudimentary to little demonstration of understanding of the material discussed each week.

A partway mark will be provided to you in week 6.

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