This course will explore decision-making by individuals and firms in the context of real-world situations in which behaviour is often strategic in nature and information is imperfect. The course covers a set of key topics in microeconomics, including game theory, decision making under uncertainty, monopoly, imperfect competition, situations of asymmetric information, and an introduction to behavioural economics. A range of policy options available to governments will be analysed.

Learning Outcomes

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

1. Understand the implications of relaxing the assumptions of perfect competition, certainty, and full information on market outcomes within basic microeconomic models.
2. Understand and apply key tools for analysing the microeconomics of uncertainty, imperfect competition, asymmetric information, and behavioural economics.
3. Competently use graphs, algebra, and game theory for microeconomic analysis.
4. Analyse potential policy interventions to deal with issues related to uncertainty, imperfect competition, asymmetric information, and behavioural economics.

Examination Material or equipment

The assessment items are designed to incentivise students to work independently on the material and to develop an ability to critically analyse microeconomic issues.

Students should attempt tutorial questions prior to each tutorial. Students are encouraged to participate in group study, but are advised that this is not a substitute for solving problems on one’s own.

Required Resources

Nicholson, W & Snyder, C 2021, Intermediate Microeconomics and its Application, 13th edn, Cengage Learning.

Recommended Resources

There are many mathematics/game theory/microeconomics textbooks that students may use to supplement the listed readings. Students are advised to find at least one additional text to follow. Suitable texts for supplementary reading include:

• Hoy, M, Livernois, J, McKenna, C, Rees, R & Stengos, T 2011, Mathematics for Economics, 3rd edn, MIT Press.
• Osborne, Martin J 2003, An Introduction to Game Theory, Oxford University Press. Online material can be found at http://www.economics.utoronto.ca/osborne/igt/index.html.
• Nicholson, W & Snyder, C 2016, Microeconomic Theory: Basic Principles and Extensions, 12th edn, Cengage Learning.

The above are available in the ANU Library reserve collection.

Staff Feedback

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

• Comments on assessment items
• Verbal comments
• Feedback to the whole class, groups, individuals

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	Game theory (NS Ch. 6)
2	Game theory (NS Ch. 6)
3	Game theory (NS Ch 6)
4	Uncertainty (NS Ch 5)	Quiz
5	Uncertainty (NS Ch. 5)
6	Monopoly (NS Ch. 12)
7	Monopoly (NS Ch. 12)
8	Imperfect competition (NS Ch. 13)
9	Imperfect competition (NS Ch. 13)
10	Asymmetric information (NS Ch 16)
11	Asymmetric information (NS Ch 16)
12	Behavioural economics (NS Ch. 18)

Assessment Summary

Assessment task	Value	Due Date	Return of assessment	Learning Outcomes
Quiz	10 %	18/03/2022	28/03/2021	1, 3
Mid-semester exam	30 %	22/04/2022	06/05/2021	1, 2, 3
Group problem set	5 %	27/05/2022	03/06/2021	1, 2, 3
Contribution to class discussion forum	5 %	27/05/2022	03/06/2021	1, 2, 3
Final exam	50 %	18/06/2022	30/06/2022	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 ANU Online website Students may choose not to submit assessment items through Turnitin. In this instance you will be required to submit, alongside the assessment item itself, hard copies of all references included in the assessment item.

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.

Assessment Task 1

Quiz

Online quiz held during week 4.

Assessment Task 2

Mid-semester exam

ANU Semester 1 mid-semester exam period. Writing time = 90 minutes.

Assessment Task 3

Group problem set

Form a group of two and submit a tutorial problem set prior to one tutorial during the semester.

Assessment Task 4

Contribution to class discussion forum

Discussion questions will be posted on Wattle. Students will be expected to actively contribute to the online discussion, making a minimum of 3 posts during semester. The grade will be based on each student's overall contribution in terms of high-quality and timely posts. Provided that the threshold of 3 posts is met, the grade will be based on quality and timeliness only.

Assessment Task 5

Final exam

ANU Semester 1 final exam period. Writing time = 180 minutes.

Academic Integrity

Academic integrity is a core part of our culture as a community of scholars. At its heart, academic integrity is about behaving ethically. This means that all members of the community commit to honest and responsible scholarly practice and to upholding these values with respect and fairness. The Australian National University commits to embedding the values of academic integrity in our teaching and learning. We ensure that all members of our community 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 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 University has policies and procedures in place to promote academic integrity and manage academic misconduct. Visit the following Academic honesty & plagiarism website for more information about academic integrity and what the ANU considers academic misconduct. The ANU offers a number of services to assist students with their assignments, examinations, and other learning activities. The Academic Skills and Learning Centre offers a number of workshops and seminars that you may find useful for your studies.

Online Submission

The ANU uses 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. While the use of Turnitin is not mandatory, the ANU highly recommends Turnitin is used by both teaching staff and students. For additional information regarding Turnitin please visit the ANU Online website.

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

Late submission of assessment tasks without an extension are penalised at the rate of 5% of the possible marks available per working day or part thereof. Late submission of assessment tasks is not accepted after 10 working days after the due date, or on or after the date specified in the course outline for the return of the assessment item. Late submission is not accepted for take-home examinations.

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.

Extensions and Penalties

Extensions and late submission of assessment pieces are covered by the Student Assessment (Coursework) Policy and Procedure The Course Convener may grant extensions 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.

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