- Class Number 2302
- Term Code 3330
- Class Info
- Unit Value 6 units
- Topic On Campus
- Mode of Delivery In Person
- Dr Long Chu
- Dr Long Chu
- Class Dates
- Class Start Date 20/02/2023
- Class End Date 26/05/2023
- Census Date 31/03/2023
- Last Date to Enrol 27/02/2023
- Thai Nguyen
This is a Masters and PhD level course covering a range of topics in applied microeconomics. The course emphasises a series of research tools and applications with a focus on techniques for quantitative policy analysis. Applications include preference and welfare analysis, productivity and efficiency measures, partial and general equilibrium, the management of open-access resources and non-market valuation. In addition to paper-and-pen exercises, students will use computers to perform analysis such as evaluating policy impacts with computable general equilibrium models, evaluating optimal timing for infrastructure investments, comparing firm productivity levels and estimating the willingness-to-pay for ecological services.
Upon successful completion, students will have the knowledge and skills to:
- Demonstrate mastery of knowledge and understanding of a wide range of the mathematical concepts, formalisms and techniques that are commonly used in applied microeconomics.
- Demonstrate the capacity to apply the analytical methods learned to real-world situations.
- Demonstrate competency with the mathematical techniques required for modelling microeconomic problems for policy analysis.
- Plan, design and execute microeconomic policy analyses.
- Communicate microeconomic methods and results in written form to technical and non-technical audiences.
The reading of this course includes journal articles/working papers and book chapters. The journal articles/working papers are made available in the reading brick on the Wattle site. Book chapters are included in the reading brick whenever permitted by the copyright law of Australia. Otherwise, they will be referred to as A(Y) where Y is the chapter(s) and A is the abbreviation of the book author(s) as follows:
- [SS] Silberberg and Suen (2001) The structure of economics: A Mathematical Analysis, 3rd edition, McGrawHill.
- [V] Hall Varian (1992) Microeconomic Analysis, 3rd edition, W. W. Norton & Company, Inc.
- [BB] Jeff Bennett and Russell Blamey (2001) The choice modelling approach to environmental valuation, Edward Elgar Publishing Limited.
- [CROB] Timothy Coelli, Prasada Rao, Christopher O'Donnell, George Battese (2005) An introduction to efficiency and productivity analysis, 2ndedition, Springer Science+Business Media, LLC. This textbook is available online from the ANU library website.
Topic 1: Consumer behaviour and welfare analysis
- Book chapters: BB(3,7,11), SS(10,11), V(7,10).
- Nhuong Tran, Long Chu, Chin-Yee Chan, Sven Genschick, Michael Phillips, & Alexander Kefi (2019). Fish supply and demand for food security in Sub-Saharan Africa: An analysis of the Zambian fish sector, Marine Policy, 99, 343-350
- Bart Vermeulen, Peter Goos, Riccardo Scarpa & Martina Vandebroek (2008) Efficient and Robust Willingness-to-Pay Designs for Choice Experiments: Some Evidence from Simulations. KBI0809. Department of Decision Sciences and Information Management, Katholieke Universiteit Leuven, Leuven, Belgium.
- John Rolfe & Jeff Bennett (2009) The impact of offering two versus three alternatives in choice modelling experiments, Ecological Economics, 68 (4): 1140-48.
Topic 2: Production and efficiency analysis
- Book chapters: CROB (4,6,7), SS(4,8,9).
- Long Chu & Quentin Grafton (2020). Water Pricing and the Value-Add of Irrigation Water in Vietnam: Insights from a Crop Choice Model Fitted to a National Household Survey, Agricultural Water Management, 228: 105881
- Long Chu, Quentin Grafton & Hai Nguyen (2022). A Global Analysis of the Break-Even Prices to Reduce Atmospheric Carbon Dioxide via Forest Plantation and Avoided Deforestation, Forest Policy & Economics,
- Steering Committee for the Review of Commonwealth/State Service Provision (1997), Data Envelopment Analysis: A technique for measuring the efficiency of government service delivery, AGPS, Canberra. [referred to as SCR 1997]
Topic 3: Partial equilibrium analysis and applications
- Book chapter: V(13), and chapter 7 in Robert Feenstra (2003) Advanced international trade: Theory and evidence, Princeton University Press, chapter 7.
- Quentin Grafton, Long Chu & Tom Kompas (2015) Optimal Water Tariffs and Supply Augmentation for Cost-of-Service Regulated Water Utilities, Utilities Policy, 34: 54-6.
- Quentin Grafton, Long Chu, Tom Kompas & Michael Ward (2014) Volumetric water pricing, social surplus and supply augmentation, Water Resources and Economics, 6: 74-87
Topic 4: General equilibrium modelling
- Book chapters: SS(17,18), V(17).
- Long Chu, Quentin Grafton & Rodney Keenan (2019). Increasing Conservation Efficiency While Maintaining Distributive Goals with the Payment for Environmental Services, Ecological Economics, 156: 202-210
- Long Chu, Hoa Nguyen, Tom Kompas, Khoi Dang & Trinh Bui (2021). Rice land protection in a transitional economy: The case of Vietnam. Heliyon. 2021;7(4):e06754. doi:10.1016/j.heliyon.2021.e06754
- Ha Pham, Tom Kompas, Hoa Nguyen & Long Chu (2017) Building a better trade model to determine local effects: A regional and intertemporal GTAP model, Economic Modelling, 67:102-113
- Graham Pyatt (1988) A SAM approach to modelling, Journal of Policy Modelling, 10 (3): 327-52.
- Christina Dawkins, T Srinivasan & John Whalley (2001) Chapter 58 - Calibration. In: Handbook of Econometrics. Volume 5. Edited by J.H. James & L. Edward, Elsevier, pp. 3653-03.
- Sue Wing (2004) Computable General Equilibrium Models and Their Use in Economy-Wide Policy Analysis: Everything you ever wanted to know (but were afraid to ask). MIT Joint Program on the Science and Policy of Global Change. MT.
Topic 5: Management of open-access resources
- Book chapter: V (24).
- Long Chu, Tom Kompas & Quentin Grafton (2015) Impulse Controls and Uncertainty in Economics, Environmental Modelling and Software, 65: 50-57.
- Long Chu & Tom Kompas (2014) Targets and Fisheries Management in the Asia and Pacific Region, Asia and the Pacific Studies, 3: 615-622.
- Quentin Grafton, Tom Kompas, Long Chu & Nhu Che (2010) Maximum Economic Yield, Australian Journal of Agricultural and Resource Economics, 54: 273-80.
- Long Chu, Quentin Grafton & Tom Kompas (2022) Optimisation of economic performance and stock resilience in marine capture fisheries, Economic Analysis and Policy, 76: 863-875
- Catherine Dichmont, Deng Roy, Andre Punt, William Venables & Trevor Hutton (2012) From input to output controls in a short-lived species: the case of Australia's Northern Prawn Fishery. Marine and Freshwater Research, 63, 727-739.
Staff FeedbackStudents will be given feedback in the following forms in this course:
- Written comments
- Verbal comments
- Feedback to the whole class, to groups, to individuals, focus groups
Student FeedbackANU 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.
|Week/Session||Summary of Activities||Assessment|
|1||Weeks 1-3: Consumer behaviours and welfare analysis||Indicative schedule only, subject to the actual pace of the class. An introductory session will be included.|
|2||Weeks 4-6: Production and efficiency analysis||Indicative schedule only, subject to the actual pace of the class.|
|3||Weeks 7-8: Partial equilibrium analysis and applications||Indicative schedule only, subject to the actual pace of the class.|
|4||Weeks 9-11: General equilibrium modelling||Indicative schedule only, subject to the actual pace of the class.|
|5||Week 12: Management of open-access resources||Indicative schedule only, subject to the actual pace of the class.|
|Assessment task||Value||Due Date||Return of assessment||Learning Outcomes|
|Quiz 1||10 %||20/03/2023||20/03/2023||1,2,3,4,5|
|Quiz 2||10 %||20/04/2023||20/04/2023||1,2,3,4,5|
|Midterm exam||10 %||20/04/2023||20/04/2023||1,2,3,4,5|
|Quiz 3||10 %||20/05/2023||20/05/2023||1,2,3,4,5|
|Final exam||60 %||05/06/2023||30/06/2023||1,2,3,4,5|
* If the Due Date and Return of Assessment date are blank, see the Assessment Tab for specific Assessment Task details
PoliciesANU 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 RequirementsThe 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 AssessmentMarks 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
Learning Outcomes: 1,2,3,4,5
Non-redemptive; Computer-based; Two attempts allowed; Multiple choice format; Students are free to discuss. Covering the introductory session, the prerequisites and topic 1.
Assessment Task 2
Learning Outcomes: 1,2,3,4,5
Non-redemptive; Computer-based; Two attempts allowed; Multiple choice format; Students are free to discuss. Covering from the beginning to the end of topic 2.
Assessment Task 3
Learning Outcomes: 1,2,3,4,5
Redemptive; Computer-based; One attempt allowed; 10-minute reading and 50-minute attempt; Students are NOT allowed to discuss (plagiarism rules will apply). The exact time and place will be arranged by Crawford School. The coverage scope depends on the exam timetable arranged by Crawford School.
Assessment Task 4
Learning Outcomes: 1,2,3,4,5
Non-redemptive; Computer-based; Two attempts allowed; Multiple choice format; Students are free to discuss. Covering all topics of the course
Assessment Task 5
Learning Outcomes: 1,2,3,4,5
Computer-based; One attempt allowed; 30-minute reading and 180-minute attempt; Students are NOT allowed to discuss (plagiarism rules will apply). Exact time will be arranged by the University during Examination Period. Covering all topics of the course.
Academic IntegrityAcademic 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 SubmissionThe 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 SubmissionFor 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 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 RequirementsAccepted 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 PenaltiesExtensions 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.
Distribution of grades policyAcademic 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 studentsThe 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
Dr Long Chu
Dr Long Chu