Modern economics is a way of thinking that provides important insights into human behaviour and how the world works. The emphasis in Microeconomics 3 is on deepening students' understanding of the basic principles of microeconomics and learning how to use these principles to analyse real world problems and policy issues. The course builds upon the material covered in Microeconomics 1 and 2 by treating some of the concepts introduced in previous microeconomic courses with greater degree of rigour. The course also covers more advanced tools of microeconomic theory and applications of the theory to a range of economic problems. Topics and techniques that may be emphasised include: concepts and measurement of individual and aggregate consumer welfare, partial and general equilibrium efficiency analysis, choice under uncertainty and information economics."

Learning Outcomes

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

1. Describe formalised economic models developed in class, and analyse how modelling assumptions impact theoretical results;
2. Solve theoretical economic problems using models developed in class; including combining models to produce novel solutions;
3. Recognise the relevant economic issues in real-world problems, determine which economic models, or combination of models, is appropriate to analyse the problem, and apply those models to gain insight into policy issues.

Research-Led Teaching

Theory and examples covered in the course are derived from research in the field of economics. In addition, students will critically engage with important published works in the field.

Examination Material or equipment

Exam will be held as a multi-day open-book take-home exams.

Required Resources

Varian, H.R., 1992, Microeconomic Analysis, 3rd Edition. (available in paperback and hardcover, no official e-book is available)

Recommended Resources

Varian, H.R., Intermediate Microeconomics.

Gravelle, H., and Rees, R., Microeconomics

Nicholson, W., and Snyder, C., Microeconomic Theory

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). Feedback can also be provided to Course Conveners and teachers via the Student Experience of Learning & Teaching (SELT) feedback program. SELT surveys are confidential and also provide the Colleges and ANU Executive with opportunities to recognise excellent teaching, and opportunities for improvement.

Class Schedule

Week/Session	Summary of Activities	Assessment
1	Social Welfare as a Policy Goal
2	Consumer Behaviour
3	Consumer Behaviour	Possible Weekly Quiz
4	Consumer Behaviour	Possible Weekly Quiz
5	Asymmetric Information	Possible Weekly Quiz
6	Producer Behaviour	Major Quiz
7	Producer Behaviour	Major Project Outline Due, Possible Weekly Quiz
8	Market Structures	Possible Weekly Quiz
9	Auctions and Voting	Possible Weekly Quiz
10	Choice Under Uncertainty	Possible Weekly Quiz
11	Choice Over Time	Major Project Due, Possible Weekly Quiz
12	Experimental Economics	Possible Weekly Quiz

Tutorial Registration

Interactive tutorials will be held weekly (starting from week 2). Tutorials 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
Weekly quizzes	15 %	*	*	1,2,3
Mid-Semester Exam	20 %	31/03/2023	18/04/2023	1,2,3
Major Project Outline	5 %	17/04/2023	24/04/2023	1,2,3
Major Project draft for Peer Review\Peer Review comment quality	0 %	15/05/2023	*	1,2,3
Major Project	20 %	22/05/2023	05/06/2023	1,2,3
Final Exam	40 %	*	*

* 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 Integrity Rule before the commencement of their course. Other key policies and guidelines include:

• Academic Integrity Policy and Procedure
• Student Assessment (Coursework) Policy and Procedure
• Special Assessment Consideration Guideline and General Information 
• Student Surveys and Evaluations
• Deferred Examinations
• Student Complaint Resolution Policy and Procedure
• Code of practice for teaching and learning

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 Skills website. 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 course will mostly be taught in-person, with minimal options for on-line delivery. Course content will mainly be delivered in live in-person lectures each week (3-4 hours per week). These lectures are recorded and available online through Echo360 for student who are unable to attend campus. Tutorials will be held each week from week 2. An online tutorial option is likely to be available, depending on demand.

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 a major quiz in Week 6, and a Final Exam.

Assessment Task 1

Weekly quizzes

Throughout the semester there will be a series of weekly quizzes. There will be 6 quizzes throughout the semester, held over Wattle on the same day each week. Each quiz will take approximately 30 minutes to complete, and be based on the lecture/tutorial material from the previous tutorial. You will have a 24 hour window for each quiz., and can use any approximately 30 minute block you wish in that window. You may have one attempt only at each quiz. Quizzes will always be announced at least one week in advance. Quizzes will be returned by your tutorial in the following week.

These quizzes are designed to be relatively straightforward, so that as long as you have appropriately prepared, then you would typically get 2/3 or 3/3 marks.

Only your best 5 of 6 tutorial 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.

Feedback and solutions will be given by working through common issues in the lecture each week. You may also receive feedback during tutorials. There will be a practice quiz to practice using the system prior to the first quiz. There will also be an administrative questionnaire which will need to be completed before you have access to some quizzes, including the first.

Assessment Task 2

Mid-Semester Exam

The mid-semester exam will include all material covered so far in the course. It is worth 15% of the final grade.

The exam will be held as a multi-day (likely 72 hours) take-home exam. It will be open-book, but 'closed-person'. You may review any material you wish, but may not collaborate. It will consist of short answer questions of varying lengths (short answer in this context ranges from 2 paragraphs to 2 pages).

Additional information will be provided during Week 4.

Submission will be done through Turnitin on Wattle

Assessment Task 3

Major Project Outline

Prior to completing your Major Project (see Major Project assessment task), you will need to complete an outline of what you intend to cover in your final report. There is a word limit of 300 words (not including titles, bibliography, tables, graphs, etc.). Late submissions will not be accepted.

Options for group submissions will be available, though the expected length and detail of the assignment will, of course, be different.

A complete description of the assignment will be provided no later than Week 3 of the semester.

Assessment Task 4

Major Project draft for Peer Review\Peer Review comment quality

At the start of Week 11 you must submit a draft of your major project to a peer-reviewer. You will be assigned another student from the course as your peer-reviewer.

As peer-reviewer you must provide comments back to the author by no later than the end of week 11. We will discuss in class how to contract effective and useful peer review comments. Peer review comments will need to incorporated into your final report (see Major Project assessment task).

This task is worth 0%, but is a hurdle requirement. The hurdle is for both the draft submission for comments, and for providing appropriate peer-review comments.

Assessment Task 5

Major Project

The major project is an extended writing task. Each student will choose from a selection of important classical papers in Microeconomics and write a report on the context in which the paper was written, the findings of the paper, and the impact on the economics discipline. There is a word limit of 2000 words for the main report (plus or minus 10%, not including titles, bibliography, tables, graphs, etc.). Late submissions will not be accepted.

You will also be required to provide the peer-review comments you were given, and a short reflection on how you have incorporated those comments into your work (or why you chose not to).

Options for group submissions will be available, though the expected length and detail of the assignment will, of course, be different.

A complete description of the assignment will be provided no later than Week 3 of the semester. Submissions will be made though Turnitin on Wattle, with brief feedback given the same way. More extensive feedback can be given by appointment.

Assessment Task 6

Final Exam

The final exam will be held as a multi-day (likely 72 hours) take-home assessment. It will be open-book, but 'closed-person'. You may review any material you wish, but may not collaborate. It will consist of short answer questions of varying lengths (short answer in this context ranges from 2 paragraphs to 2 pages).

Additional information will be provided during Week 10.

Submission will be done through Turnitin on Wattle

Academic Integrity

Academic integrity is a core part of the ANU culture as a community of scholars. The University’s students are an integral part of that community. The academic integrity principle commits all students to engage in academic work in ways that are consistent with, and actively support, academic integrity, and to uphold this commitment by behaving honestly, responsibly and ethically, and with respect and fairness, in scholarly practice.

The University expects all staff and students to be familiar with the academic integrity principle, the Academic Integrity Rule 2021, the Policy: Student Academic Integrity and Procedure: Student Academic Integrity, and to uphold high standards of academic integrity to ensure the quality and value of our qualifications.

The Academic Integrity Rule 2021 is a legal document that the University uses to promote academic integrity, and manage breaches of the academic integrity principle. The Policy and Procedure support the Rule by outlining overarching principles, responsibilities and processes. The Academic Integrity Rule 2021 commences on 1 December 2021 and applies to courses commencing on or after that date, as well as to research conduct occurring on or after that date. Prior to this, the Academic Misconduct Rule 2015 applies.

 

The University commits to assisting all students to understand how to engage in academic work in ways that are consistent with, and actively support academic integrity. All coursework students must complete the online Academic Integrity Module (Epigeum), and Higher Degree Research (HDR) students are required to complete research integrity training. The Academic Integrity website provides information about services available to assist students with their assignments, examinations and other learning activities, as well as understanding and upholding academic integrity.

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

The Academic Skills website has information to assist you with your writing and assessments. The website includes information about Academic Integrity including referencing requirements for different disciplines. There is also information on Plagiarism and different ways to use source material.

Returning Assignments

Weekly quizzes will be returned by the following tutorial, with the first returned by the end of Week 4.

Personal project 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 Access 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