Economics 2(H) includes ECON2102 Macroeconomics 2 with two additional contact hours a week. It is designed for the better performing students who want to extend their exposure to economics beyond that offered in the standard second year courses in microeconomics and macroeconomics. As such, students enrolling in this course should have achieved at least a credit (above 60%) for Microeconomics 2.

The Honours component includes advanced material in intermediate microeconomics. It builds on material that students have studied in Microeconomics 2, and is more mathematical (using basic calculus). Lectures will include topics drawn from public finance, international economics, welfare economics and cost benefit analysis, such as

utility and choice, household production, expected utility and choice under uncertainty, general equilibrium models with production, the trade-off between equity and efficiency, the theory of the second best, cost benefit analysis and the social discount rate.

Learning Outcomes

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

1. demonstrate an understanding of a coherent set of ideas for underlying macroeconomic phenomena and policy issues;
2. demonstrate an understanding of the assumptions, structure and micro-foundations of a macroeconomic model and recognise its power and shortcomings;
3. formulate a relevant model and use such analytical tools in addressing a key macroeconomic question independently;
4. demonstrate an understanding of the different ways in which economic issues can be tackled;
5. demonstrate the ability to analyse problems from an economic perspective, or at least understand how economists think;
6. recognise the economic issues in a problem and apply the appropriate tools to analyse it.;
7. demonstrate an understanding of the economic tools taught in class and be able to apply them to analyse real world problems and policy issues.

Research-Led Teaching

Microeconomics forms the foundation for most research in Economics. The material covered in this course is based on long-established microeconomics theory. Rather than studying how markets work, emphasis will be on where markets do not work. Accordingly, relevant literature will be addressed throughout the course.

Examination Material or equipment

Non-programmable calculators are permitted in exams.

Required Resources

Material is based on different resources:

• Bolton, P. and Dewatripont, M., 2005, Contract Theory

A copy of the book is available in the Law Library. Some essential sections will be available to students on Wattle.

• Bowles, S., Carlin, W. and Stevens, M. (2017). ‘Property and power: Mutual gains and conflicts’. The Economy. Available at: http://www.core-econ.org

Available on the internet (free)

• Nechyba, T., 2016. Microeconomics: an intuitive approach with calculus. Nelson Education.

Some essential sections will be available to students on Wattle.

• Varian, H.R., 2014. Intermediate Microeconomics: A Modern Approach. WW Norton & Company.

A copy of the book will be available in the reserve & short loan collection of Cheifly Library.

Other readings will be available throughout the course whenever needed.

Recommended Resources

Students are recommended to review the material from previous microeconomics courses.

A good overview of the level of mathematics that will be used can be seen at:

• Mathematical Appendix from H. Varian, Intermediate Microeconomics (2014)

A copy of the book will be available in the reserve & short loan collection of Cheifly Library.

Students who want a more comprehensive reading for the mathematics may find the following book useful:

• Simon, C. P., & Blume, L. (1994). Mathematics for economists (Vol. 7). New York: Norton.

A copy of the book will be available in the reserve & short loan collection of Cheifly Library.

Staff Feedback

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

• written comments (for the quiz and problem set),
• feedback to whole class over the questions in recent quizzes, and
• students are encouraged to come for consultation and feedback during the office hours.

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). 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.

Other Information

Total Mark

The total mark for the ECON2016 will be the weighted average of the assessment outcomes in Pass (i.e. ECON2012) and Honours components. The weights will be 65 per cent and 35 per cent, respectively. Furthermore, the students need to get at least Pass (above 50 per cent) in both components to pass the course.

Support for Students

The University offers a number of support services for students. Information on these is available online from http://students.anu.edu.au/studentlife/

RSE has a Frequently Asked Questions page where you can find relevant policies and information on a broad range of topics

https://www.rse.anu.edu.au/students/frequently-asked-questions/

Class Schedule

Week/Session	Summary of Activities	Assessment
1	Markets	possible quiz.
2	Firms: Wage Setting	BCS (Unit 6); possible quiz.
3	Firms: Price Setting	BCS (Unit 7); possible quiz.
4	Input Market	BCS (Unit 9); possible quiz.
5	Externalities	V (Chapter 35); possible quiz.
6	Uncertainty	V (Chapter 12); possible quiz.
7	Risk Sharing	BD (Chapter 1); possible quiz.
8	Adverse Selection: Monopoly	BD (Chapter 2); possible quiz.
9	Adverse Selection: Insurance Market	N (Chapter 22); possible quiz.

Assessment Summary

Assessment task	Value	Due Date	Return of assessment	Learning Outcomes
Final Exam	70 %	31/10/2019	04/12/2019	1, 2, 3
Problem Set	15 %	13/09/2019	27/09/2019	1, 2, 3
In class Quizzes	15 %	29/07/2019	25/10/2019	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 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 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 ANU Online 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.

Examination(s)

See Assessment Task 1

Assessment Task 1

Final Exam

The final exam will be held during the semester 2 examination period, between 31/10/2019 and 16/11/2019. The exact date, time and venue will be announced. The exam will cover material from the whole semester and is worth 70% of the final grade. The only permitted materials are a non-programmable calculator. The exam will include both Multiple Choice Questions and Short Answer Analytical problems.

Assessment Task 2

Problem Set

• A set of questions and problems will be uploaded to Wattle on 30 August 2019.
• The questions and problems will be from the material covered in the first half of course.
• Answers should be handed in to the course box on the 1st level of HW Arndt building within 2 weeks.
• The due date is 13 September 2019.
• Marks and answer guide will be provided one week after the due date.
• The exact time, date and delivery method will be announced.
• Redeemable: 15% if higher than the final exam and 0% otherwise.

Assessment Task 3

In class Quizzes

• There will be 6 to 10 weekly in-class quizzes (by paper) throughout the semester.
• Questions will be related to the material recently covered.
• Quizzes will NOT be announced and they may be held in tutorial or lectures any week over the teaching period.
• The quiz with the lowest mark will not be considered. All other quizzes will have equal weights.
• Redeemable: 15% if higher than the final exam and 0% otherwise
• If a student misses quiz for eligible reasons (e.g. sickness with written certificate), the student will be instructed to sit an equivalent test. Otherwise, the weighting will be transferred to the final exam.
• Marked quizzes will be returned to students after one week.

Academic Integrity

Academic integrity is a core part of the ANU culture as a community of scholars. At its heart, academic integrity is about behaving ethically, committing to honest and responsible scholarly practice and upholding these values with respect and fairness.

The ANU commits to assisting all members of our community to 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 be familiar with the academic integrity principle and Academic Misconduct Rule, 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 Academic Misconduct Rule is in place to promote academic integrity and manage academic misconduct. Very minor breaches of the academic integrity principle may result in a reduction of marks of up to 10% of the total marks available for the assessment. The ANU offers a number of online and in person services to assist students with their assignments, examinations, and other learning activities. Visit the Academic Skills website for more information about academic integrity, your responsibilities and for assistance with your assignments, writing skills and study.

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

• 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

Accepted 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 Penalties

Extensions 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.

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 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