The course examines how individuals and firms make decisions by weighing up costs and benefits, and how the interaction of their decisions leads to market and social outcomes. The model of market supply and demand is employed to examine the effects of taxes, subsidies, and other government interventions in market activity. The implications of different market structures, including perfect competition and monopoly, are examined.  Public goods, externalities and common resources are key examples of cases in which private markets may yield socially sub-optimal outcomes.  Such cases are examined and the role of government policy in correcting for these is discussed.

Learning Outcomes

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

1. demonstrate an understanding of the economic principles that underpin modern economics;
2. have a basic understanding of the way budget constrained individuals make optimising choices and the way resources are allocated in private markets;
3. demonstrate an understanding of the role of different trading arrangements in markets and their impact on prices and the quantities traded;
4. use basic economic principles to evaluate the effects of government interventions and other exogenous changes in markets;
5. evaluate the effects of government interventions in markets;
6. present clearly written analysis of economic issues and problems

Research-Led Teaching

Theory and examples covered in the course are derived from research in the field of microeconomics. In addition, students will have the opportunity to complete a large personal project where they apply the concepts from class to a real-world application of their choice.

Examination Material or equipment

Examinations will be invigilated over Zoom. You will need a working internet connection and camera to sit your examinations.

Required Resources

Textbook: Acemoglu, D., Laibson, D., and List, J.A, 2019, Microeconomics, Global Edition, 2nd Edition, Pearson, Australia. You can purchase the textbook from the bookstore on campus, and copies will also be available for short term loan in the Chifley Library. Soft copies are also available through the ANU library.

Staff Feedback

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

• Answers to on-line quizzes will be provided in workshop/tutorials
• Brief written comments may be given on in-tutorial quizzes
• Feedback on mid-semester exam will be given to the whole of class during workshop
• Help Desk/Consultation/Office Hours times are available every week for students to seek feedback on their work

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

Each week tutorial questions for the following weeks tutorials will be uploaded onto wattle. It is expected that you prepare the answers to these questions. These questions will be DISCUSSED in the tutorial. To gain the most out of the tutorial, and to be able to participate in the discussion you will need to prepare. As answers are based on discussion, answers to all questions will NOT be posted on wattle.

Class Schedule

Week/Session	Summary of Activities	Assessment
1	Introduction to Microeconomics
2	Supply and Demand	Wattle quiz
3	Supply and Demand	Wattle quiz
4	Supply and Demand	Wattle quiz
5	Economics of the Firm	Wattle quiz
6	Economics of the Firm	Wattle quiz or Mid-Semester Exam
7	Economics of the Firm	Wattle quiz or Mid-Semester Exam
8	Factor Markets	Wattle quiz
9	Taxes, Public Goods, and Externalities	Wattle quiz
10	Topics in Microeconomics (Trade, Game Theory, Behavioural Economics)	Wattle quiz
11	Topics in Microeconomics (Trade, Game Theory, Behavioural Economics)	personal project due
12	Topics in Microeconomics (Trade, Game Theory, Behavioural Economics)	final exam during exam period

Tutorial Registration

Tutorials this semester will be delivered on-campus. An online tutorial will be made available for those who cannot reach Canberra due to travel restrictions.

You are expected to attend one tutorial each week from Week 2 onwards. 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
Wattle quizzes	15 %	*	*	1,2,3,4,5,6
Personal Project	15 %	21/10/2022	03/11/2022	1,2,3,4,5,6
Mid Semester Exam	25 %	*	*	1,2,3,6
Final Exam	45 %	*	*	1,2,3,4,5,6

* 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 Academic Integrity . 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

Delivery of this course will be on campus. An online tutorial will be run for those who are unable to reach Canberra due to travel restrictions. Aspects of the delivery will be asynchronous. However, there will be synchronous activities also taking place. 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 synchronous activities, while not compulsory, is expected in line with “Code of Practice for Teaching and Learning”, clause 2 paragraph (b).

Course content will be delivered through pre-recorded lecture modules, together with a weekly live face-to-face workshop. Echo360 recordings of the workshop will be available.

Tutorials for this course are 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 one week are encouraged to work through the problems and attend a consultation session for discussion and solutions.

Examination(s)

See information above in Assessment Tasks 3 and 4 regarding Examinations.

Assessment Task 1

Wattle quizzes

Eight (8) times during the semester you will need to complete a short quiz on Wattle (10-20 minutes). Students will have a 24 hour window to begin the task. The question(s) will be based on the previous weeks lecture material (and thus the current week's tutorial questions). They will be given a grade out of 3. The best 6 out of 8 quizzes will count to your final grade.

Quizzes will be returned no later than the tutorial in the following week. The first quiz will be returned prior to Week 6.

Assessment Task 2

Personal Project

The personal project is an extended writing task. Each student will develop an economic question, and provide some work towards solving their chosen question. This is expected to be 3-4 pages in length when completed. More details will be provided on Wattle at least two weeks prior to the due date. The project must be submitted through Turnitin on Wattle.

Assessment Task 3

Mid Semester Exam

A mid-semester exam will be held during the ANU mid-semester exam period - (Week 6 and Week 7). The exam will cover material presented throughout the first half of the semester. The mid-semester exam is compulsory to attend and will count 25% to your final grade. The exam will be invigilated over Zoom, and further details given on Wattle by end of Week 4.

Assessment Task 4

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 45% to your final grade. The exam will be invigilated over Zoom. 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. 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

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

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

Wattle quizzes will be returned during the following week. Exam results will be returned within 3 weeks of the exam.

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 assessment items will allow resubmission.

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