Microeconomics provides the principal modelling tools and frameworks that are used in all fields of economics. The corresponding techniques are built on models of decision-making by economic agents, in environments with and without uncertainty, and on the analysis of interacting economic agents, in various settings such as markets or strategic situations. This course introduces the main techniques of microeconomics, at a level that lies between that of typical undergraduate courses, and that of Masters or PhD level courses. The results are presented and analysed using both intuitive graphical and formal mathematical methods. An important aim of the course is to show that the intuition gained from simple graphical models, and the insight derived from formal theoretical analysis are complementary, and that only the interplay between economic intuition and abstract results can lead to a complete understanding of the respective models and the conclusions drawn from their analysis.

Learning Outcomes

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

1. Understand the main models of decision-making by economic agents, such as consumers or firms, in environments with and without uncertainty;
2. Distinguish between market-based and strategic models of interacting economic agents, and use such models to analyse economic problems;
3. Be able to analyse economic models using both intuitive graphical and formal theoretical methods.

Research-Led Teaching

Advanced models in microeconomics and game theory are informed by the latest developments in research in these areas. New research techniques and trends will be immersed in the course such as aggregative games, status goods, and contest theory.

Field Trips

N/A

Additional Course Costs

N/A.

Examination Material or equipment

No materials other than a pen or a pencil.

Required Resources

Required readings will be indicated in Wattle in a timely manner.

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.

Other Information

N/A

Class Schedule

Week/Session	Summary of Activities	Assessment
1	Scientific models. Math review. Incentives and other basic ideas in microeconomics
2	Binary relations. Deterministic Decision Theory
3	Utility maximization and cost minimization problems in consumer theory
4	Expected Utility Theory and its applications	Homework 1 submission
5	Demand-supply, technology and production, cost minimization
6	Competitive markets. Monopoly. Price discrimination. Taxation. Monopsony
7	Rival goods, excludable goods. Lindahl taxation. Externalities. Pigouvian taxation. Property rights and Coase Theorem
8	General equilibrium, Edgeworth Box, Welfare Theorems
9	Introduction to game theory	Homework 2 submission
10	Cournot vs Bertrand oligopoly models. Stackelberg model
11	Applications of game theory
12	Contest theory. Social status goods. Review of the course

Tutorial Registration

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.

Assessment Summary

Assessment task	Value	Due Date	Return of assessment	Learning Outcomes
Homework 1	10 %	20/08/2023	31/08/2023	1,2,3
Homework 2	10 %	08/10/2023	31/10/2023	1,2,3
Final Exam	80 %	*	*	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 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

Class and tutorial attendance is necessary to have the skills to complete this course. The course covers advanced topics in microeconomics and uses mathematics techniques and game theory.

There is no recording of tutorials, and tutorial solutions may not be made available. Echo360 recordings of lectures are not guaranteed to be of high-quality.

Examination(s)

The final exam covers the entire course contents.

Assessment Task 1

Homework 1

Deadline 20 Aug 2023 by Wattle. Questions will be short-answer, and available on Wattle at least one full week before the deadline. Resubmission is not permitted. Marked homework before 31 Aug 2023. No late submission will be accepted; grade of zero is given for late submissions. No extensions. This task corresponds to 10% of the course grade. Topics up to and including week 3. Open book. Individual task.

Assessment Task 2

Homework 2

Deadline 08 Oct 2023 by Wattle. Questions will be short-answer, and available on Wattle at least one full week before the deadline. Resubmission is not permitted. Marked homework before 31 Oct 2023. No late submission will be accepted; grade of zero is given for late submissions. No extensions. This task corresponds to 10% of the course grade. Topics up to and including week 8. Open book. Individual task.

Assessment Task 3

Final Exam

The ANU Examinations Office will organize the final exam during the examinations period in the end of the semester. Results will be published by ANU 30 Nov 2023. All contents covered in the entire course. Only one attempt. Closed book, no materials permitted during the final exam. 120 minutes. Individual task. In-person, invigilated exam, on the ANU campus in Acton, ACT, Australia.

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

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

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

Homework 1 will be returned before the census date.

Homework 2 will be returned before classes end.

The exam will be available for viewing through the RSE exam viewing process.

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

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