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 various private sector organisations.

Field Trips

n.a

Additional Course Costs

n.a

Examination Material or equipment

Exams and quizzes will be principally closed-book, with a non-programmable calculator permitted.

Required Resources

Nicholson, W., & Snyder, C., 2020, Intermediate Microeconomics and its Applications, 13th edition, Cengage Learning, USA (physical or ebook). You can probably get by with the 12th edition (chapter numbers are slightly different but the chapter titles are easy to match).

The text book is available online and in Chifley Library on 2hr reserve. The 12th edition is available through the ANU library.

Recommended Resources

See course Wattle site for readings and other resources.

Intermediate Microeconomics: A Modern Approach by Varian is also an excellent reference

Staff Feedback

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

• Graded quizzes and answers.
• Graded short answers with verbal feedback in tutorials.
• Video feedback on Workshops.
• Verbal feedback upon request during consultation hours and tutorials.

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

Work-Load Expectations

The amount of work required for successful completion of this class may vary between students. As a rough guide, students should expect to devote at least 10 hours a week to this class. This should include all of the following.

• 3-4 hours a week: lectures and lecture recordings.
• 1 hour a week: tutorials.
• At least 5-6 hours a week: reading, research, writing, lecture and tutorial preparation.

Attendance Expectations

As a general rule, students should aim to attend all lectures and tutorials for this class unless they have a very good reason for not doing so. Recognising that occasional absences are often unavoidable, students are expected to attend at least 80 per cent of all lectures and tutorials (combined) for this class. The main exceptions to this are absences for medical or other reasons that can be supported by an appropriate form of official documentation.

Class Schedule

Week/Session	Summary of Activities	Assessment
1	Consumer Utility and Choice	Chapter 3 (background Chapters 1 and 2) of N&S
2	Demand and Comparative Statics	Chapter 4 N&S
3	Uncertainty, Strategy and Time	Chapter 5, 15 N&S
4	Uncertainty, Strategy and Time	Chapter 6, 5, 14 N&S
5	Institutions
6	Production	Chapter 7 N&S - Mid-semester exam (potential)
7	Costs in SR and LR	Chapter 8 N&S - Mid-semester exam (potential)
8	Profit maximisation and supply	Chapter 9 N&S
9	Perfect Competition, General Equilibrium and Welfare	Chapter 10 & 11 N&S
10	Market Power	Chapter 12 &13 N&S
11	Market Power and Strategic Behaviour	Chapter 12 &13 N&S - Engagement with Popular Media draft due
12	Information and/or Political Economy	Chapter 16 N&S - Engagement with Popular Media final version due

Tutorial Registration

Tutorials this semester will be delivered in person on campus. You are expected to attend one tutorial each week from Week 2 onwards. Use MyTimetable to enroll in a tutorial. 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
Tutorial Quizzes	15 %	*	*	1,2,3,4
Engagement with Popular Media draft for Peer Review\Peer Review comment quality	0 %	13/05/2024	17/05/2024	1,2,3,4
Engagement with Popular Media	15 %	24/05/2024	07/06/2023	1,2,3,4
Mid-Semester Exam	20 %	*	*	1,2,3,4
FInal Exam	50 %	*	*	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 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

Lectures, tutorials, and consultations will be face to face. The face to face lectures will be recorded on Echo 360 and available soon after the lectures on the course Wattle page.

Live tutorials (face to face and online) will occur from week 2. Tutorials for this course are a learning activity and include a significant discussion-based component. Worked solutions are not provided because they would not effectively compensate for missing a tutorial. Worked solutions imply that there is a unique correct solution and are therefore in opposition to the development of professional judgement, which is a key part of this course. Students who, through unavoidable and unplanned occurrences, are unable to attend a tutorial one week are encouraged to work through the problems and attend a consultation session to discuss any questions they have about their solutions.

Details on the delivery of this course and expectations of student participation are outlined in further detail on the Wattle course site in O-week. Attendance at lectures and tutorials, while not compulsory, is expected in line with “Code of Practice for Teaching and Learning”, clause 2 paragraph (b).

Examination(s)

Examinations will be in-person and closed-book. Calculators are permitted.

Assessment Task 1

Tutorial Quizzes

In each week's tutorial, from Week 3 onward, you may be required to complete a short 5-minute quiz. Quizzes will be held during 8 of your tutorials throughout semester. The question(s) will be based on the previous weeks lecture material (and thus the current week's tutorial questions). They will typically be held at the start of tutorial, but this may vary. They will be given a grade out of 3. The best 6 out of 8 quizzes will count to your final grade. You may only sit the quiz in your enrolled tutorial.

Quizzes will be returned during the tutorial in the following week. The first quiz will be returned prior to Week 6.

Assessment Task 2

Engagement with Popular Media draft for Peer Review\Peer Review comment quality

At the start of Week 11 you must submit a draft of your Engagement with Popular Media 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 construct effective and useful peer review comments. Peer review comments will need to incorporated into your final report (see Engagement with Popular Media 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 3

Engagement with Popular Media

The Engagement with Popular Media is an extended writing/content creation task. Each student will need to find appropriate popular media articles (or similar) on microeconomics, and analyse these articles through an Intermediate Microeconomics lens. Media considered must be published during 2024. Popular media considered may be written, audio or visual. The report produced may also be written, audio, or visual. If written, there is a word limit of 1500 words. If creating alternative media, a comparable length limit will also apply.

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.

If any chatbot or similar software is used at any time in the creation of your report/media, how this was used must be included specifically as an appendix to your work.

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. Audio and/or visual work will be submitted through Wattle, with a transcript submitted to Turnitin. Brief feedback will be provided on Wattle, with more extensive feedback available by appointment.

Assessment Task 4

Mid-Semester Exam

A mid-semester exam will be held during the ANU mid-semester exam period (weeks 6 and 7). The exam will cover material presented from Week 1-5, or Weeks 1-6, depending on when the exam is held. The mid-semester exam will count for 20% of your final grade. The exam will be approximately 1.5 to 2 hours, closed-book. The exam may contain a mix of multiple choice, numerical, and short answer question. Further details will be given on Wattle no later than week 4.

Assessment Task 5

FInal Exam

A final exam will be held during the ANU final exam period. The exam will cover material presented throughout the entire course. The final exam is compulsory to attempt and will count for 50% of your final grade. The exam will be three hours, closed-book, and run on-campus by the Examinations division during the exam period. The exam will contain a mix of multiple choice, numerical, and short answer question. Further details will be given on Wattle in week 10.

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

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

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

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 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