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

Theory and examples covered in the course are derived from research in the field of economics. In addition, students will have the opportunity to themselves engage in a small research project.

Examination Material or equipment

Ruler.

You will be provided with a calculator (HP Scientific Calculator 300s+) for all central exams. Only calculators provided by the Examinations Office on the day of the exam are permitted in the exam room.

Required Resources

Acemoglu, D., Laibson, D., and List, J.A, 2016, Economics, Global Edition, Pearson, Australia. The text will be available in the University book shop (Harry Hartog) and on short loan at the Chifley Library. Be careful to get Economics, and not Microeconomics; they look very similar.

You may need access to a calculator to complete exercises required for this course. You will be provided with a calculator (HP Scientific Calculator 300s+) for the final examination.

Staff Feedback

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

• written comments
• verbal comments (recorded)
• feedback to whole class, groups, individuals, focus group etc (written and recorded)

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.

Class Schedule

Week/Session	Summary of Activities	Assessment
1	Introduction to Economics
2	Consumers and Demand Theory
3	Producers and Supply Theory
4	Government and the Economy	Formative Assessment 1
5	Perfect Competition
6	Imperfect Competition
7	Macroeconomic Aggregates	Formative Assessment 2
8	Economic Growth
9	Employment and Unemployment
10	Monetary System	Formative Assessment 3
11	Short-Run Economic Fluctuations
12	Trade	Formative Assessment 4

Tutorial Registration

Tutorials will be presented as recorded solutions and discussions on Wattle. These recordings are only available for those students enrolled in the off-shore component of the course.

Depending on when the travel ban is lifted, students in this course may transition into the normal tutorials following the mid-semester break. If this occurs, then students will need to enrol in a tutorial on Wattle (at that time), and recorded solutions will no longer be produced

Assessment Summary

Assessment task	Value	Due Date	Return of assessment	Learning Outcomes
Formative Assignment - Microeconomics	0 %	20/03/2020	03/04/2020	1,2,3
Formative Assessment - Microeconomics Exam	0 %	10/04/2020	20/04/2020	1,2,3
Formative Assessment - Macroeconomics	0 %	15/05/2020	29/05/2020	1,2,3
Formative Assessment - Macroeconomics Exam	0 %	25/05/2020	01/06/2020	1,2,3
Final Exam	100 %	04/06/2020	30/06/2020	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.

Participation

This is an asynchronous learning course. You are expected to remain up-to-date with the course at all times by using the course Wattle page. If you feel you do not have sufficient understanding in some area after appropriate personal study, you are expected to post to the relevant Wattle discussion/consultation forum to discuss your questions.

Once you are able to reach ANU, you are encouraged to attend lectures, and enrol in an in-person tutorial.

Examination(s)

The course has a 100% final exam.

Assessment Task 1

Formative Assignment - Microeconomics

Each of the in-semester assessment tasks for this course are worth 0% of the course grade. These assessments are each designed to assess whether you are on track to be able to successfully complete the final exam. In each assessment you will receive specific comments on your solutions, as well as a general comment on whether we think, based on the work presented, you are on track in your understanding to pass the final exam.

The first assessment is a small piece of work on microeconomics, which you are encouraged to complete as an 'assignment'. This means you are encouraged to talk to others about the work, and consult with us online, but must produce your own solutions to the problems. You will receive this assignment no less than 7 days prior to the due date.

Assessment Task 2

Formative Assessment - Microeconomics Exam

This assessment is a longer assessment covering all the Microeconomics component of this course, covering all the material form Weeks 1-6 in this course. You are expected to complete this work under exam conditions. You will receive this assignment no less than 7 days prior to the due date, but are expected to complete the assignment in approximately 3 1/2 hours.

Assessment Task 3

Formative Assessment - Macroeconomics

The assessment is a small piece of work on macroeconomics, which you are encouraged to complete as an 'assignment'. This means you are encouraged to talk to others about the work, and consult with us online, but must produce your own solutions to the problems. You will receive this assignment no less than 7 days prior to the due date.

Assessment Task 4

Formative Assessment - Macroeconomics Exam

This assessment is a longer assessment covering all the Microeconomics component of this course, covering material from Weeks 7-12. Material from Weeks 1-6 will not be directly examined, but may be indirectly examined. You are expected to complete this assessment under exam conditions. You will receive this assignment no less than 7 days prior to the due date, but are expected to complete it in approximately 3 1/2 hours.

Assessment Task 5

Final Exam

This is the final exam for this course, covering all material from the entire semester. It is worth 100% of your grade. The time and location for this exam will be set by Central Examinations. You will be provided with a calculator for this exam.

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

Hardcopy submission of formative assessments will not be accepted.

Late Submission

Individual assessment tasks may or may not allow for late submission. Policy regarding late submission is detailed below:

• Late submission not permitted. 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.

Returning Assignments

Formative assessments will be returned through Turnitin.

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 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