This course introduces economic concepts and principles which are useful in understanding the general economic environment within which businesses and other organisations operate.

Microeconomics examines how consumers and firms make decisions and how they interact with each other in markets. Topics covered include supply and demand, consumer and firm behaviour, price determination and the operation of markets, situations of market failure, and the impact and role of government on the economy.

Macroeconomics studies the entire economy and its wellbeing. Macroeconomics looks at the effect of factors such as inflation, exchange rates, interest rates and trade on the well being and stability of the economy.

Learning Outcomes

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

1. demonstrate an understanding of the introductory, canonical models of consumer and producer behaviour and of the macroeconomy.
2. demonstrate a basic understanding of the operation of a modern economy.
3. evaluate the effects of government interventions in individual markets and in the macroeconomy.

Research-Led Teaching

This course incorporates seminal and contemporary research published in academic journals and working paper series, from which students will be exposed to economic data, statistical methodology, and research practices that can be applied to their own work throughout the semester and in their academic and business careers.

Field Trips

May be offered as co-curricula activity during alternative time.

Additional Course Costs

There are no additional class costs

Examination Material or equipment

Examinations will be held on-campus as invigilated closed-book exams.

Required Resources

Recommended Textbook: Principles of Economics by Karlan, D., Bajada, C., Melatos, M. & Morduch, J. 2017 McGraw-Hill. 

Textbook is available through Library and at ANU bookshop. E-book availability is available at ANU Library. Also a good online resource for general economics, both micro- and macro-, can be found at CORE, The Economy 1.0, available at http://www.core-econ.org. Students may find this a useful supplement.

Recommended Resources

Listed on the Wattle site for ECON8069

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	Introduction to Business Economics: Micro- and Macroeconomics
2	Microeconomics: Demand and Supply
3	Microeconomics: Production and Cost	Quiz 1 - W3 (5%)
4	Microeconomics: Market Structure and Pricing	Quiz 2 - W4 (5%)
5	Microeconomics: Economics of Strategy and Game Theory
6	Microeconomics: Public Economics and Market Failures	Quiz 3 - W6 (5%)
7	Macroeconomics: Measuring Economic Performance and Economic Growth	Mid-Semester Exam (35%)
8	Macroeconomics: Aggregate Demand and Aggregate Supply	Quiz 4 - W8 (5%)
9	Macroeconomics: Employment and Unemployment
10	Macroeconomics: Money, Banking and Monetary Policy	Quiz 5 - W10 (5%)
11	Macroeconomics: Fiscal Policy and Government Debt	Quiz 6 - W11 (5%)
12	The Topic of Choice: the Gig Economy / Behavioural Economics / Economics of Sanctions	Quiz 7 - W12 (5%)

Tutorial Registration

Interactive tutorials will be held weekly (starting from week 2). Tutorials will be available only on campus. 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	Return of assessment	Learning Outcomes
Weekly quizzes (6 best quizzes out of 7 quizzes, 6 quizzes * 5% each = 30%)	30 %	*	1,2,3
Mid-Semester Exam (Microeconomics) (35%)	35 %	*	1,2,3
Final Exam (Macroeconomics) (35%)	35 %	27/06/2024	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

This course will have tutorial options only for on-campus study. The lectures are scheduled to be on-campus. ECHO360 recording will be available after each Lecture, though no guarantee can be made about the quality of recordings.

But due to very interactive nature of the course and higher benefits of Face-to-Face participation, Convenor strongly encourages everyone to take on Face-to-Face study mode.

Attendance at all teaching events is not compulsory, but highly encouraged and is expected in line with “Code of Practice for Teaching and Learning”, clause 2 paragraph (b).

In addition, tutorials are of an interactive nature and 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 both a Mid-Semester and Final Exam. They will be 2h each; closed book; on campus-invigilated; hand-written. Permitted materials include writing implements, ruler, and calculator.

Assessment Task 1

Weekly quizzes (6 best quizzes out of 7 quizzes, 6 quizzes * 5% each = 30%)

Throughout the semester there will be a series of weekly quizzes. There will be 7 quizzes throughout the semester, held over Wattle on the same day each week.

Each quiz will take 15-30 minutes to complete, and be based on the lecture/tutorial material from the previous Week.

You will have 3 hours window for each quiz., and can use any 15-30 minute (one attempt) you wish in that window. Quizzes will have MCQ and open questions. Questions will be randomised, order of questions and order of answers in MCQ will be randomised. 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 5/5 marks.

Only your best 6 of 7 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 posted on Wattle after each Quiz.

You may also receive individual feedback during tutorials if requested. We wish you great experience and results!

Assessment Task 2

Mid-Semester Exam (Microeconomics) (35%)

This exam will include all material from the Microeconomics Part of the course, covering material from Weeks 1-6. It is worth 35% of the final grade. The exam date and time will be determined by Central Examinations, Tentative - WEEK 7 (any day). The exam will be 2 hours in length. You will be asked a mix of multiple choice, and short answer questions. Short answer, in this context, means anything from 1/4 to 1 page of response. Further details will be provided by the end of Week 5.

The exam will be a closed-book exam, conducted with invigilation on campus. Answers will be hand-written.

Assessment Task 3

Final Exam (Macroeconomics) (35%)

This exam will include all material from the Macroeconomics Part of the course, covering material from Weeks 7-11. It is worth 35% of the final grade. The exam date and time will be determined by Central Examinations, EXAM PERIOD (any day between May 30 to June 15). The exam will be 2 hours in length. You will be asked a mix of multiple choice, and short answer questions. Short answer, in this context, means anything from 1/4 to 1 page of response. Further details will be provided by the end of Week 10.

The exam will be a closed-book exam, conducted with invigilation on campus. Answers will be hand-written.

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 quiz returned by the end of Week 4.

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