Modern economics is a way of thinking that provides important insights into human behaviour and how the world works. The emphasis in Microeconomics 3 is on deepening students' understanding of the basic principles of microeconomics and learning how to use these principles to analyse real world problems and policy issues. The course builds upon the material covered in Microeconomics 1 and 2 by treating some of the concepts introduced in previous microeconomic courses with greater degree of rigour. The course also covers more advanced tools of microeconomic theory and applications of the theory to a range of economic problems. Topics and techniques that may be emphasised include: concepts and measurement of individual and aggregate consumer welfare, partial and general equilibrium efficiency analysis, choice under uncertainty and information economics."

Learning Outcomes

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

1. Describe formalised economic models developed in class, and analyse how modelling assumptions impact theoretical results;
2. Solve theoretical economic problems using models developed in class; including combining models to produce novel solutions;
3. Recognise the relevant economic issues in real-world problems, determine which economic models, or combination of models, is appropriate to analyse the problem, and apply those models to gain insight into policy issues.

Research-Led Teaching

The material taught in this course is directly relevant to various applied microeconomic research topics that have been considered by economists in academia, various public sector agencies, and various private sector organisations. Professor Meagher has made significant contributions to the theory, empirics and practice of Organisational Economics and this will be reflected in the way the class extends beyond the textbook material.

Field Trips

n.a

Additional Course Costs

n.a

Examination Material or equipment

You will require a reliable internet connection for online assessments. If you do not have a good connection at your home/residence you should make sure you are somewhere with a good connection. A (non-programmable) calculator is strongly recommended.

Required Resources

Campbell, Donald E. Incentives: Motivation and the economics of information, 3rd Edition. Cambridge University Press, 2018.

The text book is available online through the library.

Additional required readings will be posted on the course Wattle site.

Recommended Resources

See course Wattle site for readings and other resources.

Staff Feedback

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

• Graded quizzes and answers.
• Graded test and problem sets with verbal feedback in tutorials.
• Verbal feedback upon request during consultation hours and tutorials.

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.

Other Information

Work-Load Expectations

The amount of work required for successful completion of this class may vary between students. As a rough guide, students should expect to devote at least 10 hours a week to this class. This should include all of the following.

• 2-3 hours a week: lectures and lecture recordings.
• 1 hour a week: tutorials.
• At least 5-6 hours a week: reading, research, writing, lecture and tutorial preparation.

Attendance Expectations

As a general rule, students should aim to attend all lectures and tutorials for this class unless they have a very good reason for not doing so. Recognising that occasional absences are often unavoidable, students are expected to attend at least 80 per cent of all lectures and tutorials (combined) for this class. The main exceptions to this are absences for medical or other reasons that can be supported by an appropriate form of official documentation.

Class Schedule

Week/Session	Summary of Activities	Assessment
1	Introduction
2	Basic Tools	Possible assessed tutorial problem set.
3	Basic Tools	Possible assessed tutorial problem set.
4	Applications: firms and markets	Possible assessed tutorial problem set. Online quiz (Week 4)
5	Applications: firms and markets	Possible assessed tutorial problem set.
6	Review of an empirical study.	Possible assessed tutorial problem set.
7	Causation	Possible assessed tutorial problem set.
8	In class time test.	Possible assessed tutorial problem set. In class time online test, 23 April.
9	Review of an empirical study	Possible assessed tutorial problem set.
10	Applications: public and non-market contexts	Possible assessed tutorial problem set. Thursday 9 May is the last day for completing the 2 Competence Tasks
11	Applications: public and non-market contexts	Possible assessed tutorial problem set.
12	Conclusion and review.	Possible assessed tutorial problem set.

Tutorial Registration

Tutorials this semester will be delivered in person on campus. You are expected to attend one tutorial each week from Week 2 onwards. Use MyTimetable to enroll in a tutorial. 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
Online quiz	5 %	14/03/2024	18/03/2024	1,2,3
Repeatable competency tests	10 %	09/05/2024	10/05/2024	1,2,3
In class time test 1	16 %	23/04/2024	07/05/2024	1,2,3
Tutorial problem sets	7 %	*	*	1,2,3
FInal Exam	62 %	*	*	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

Lectures will be face to face. The face to face lectures will be recorded on Echo 360 and available soon after the lectures on the course Wattle page.

Tutorials will occur from week 2. Tutorials for this course are a learning activity and include a significant discussion-based component. Worked solutions are not provided because they would not effectively compensate for missing a tutorial. Worked solutions imply that there is a unique correct solution and are therefore in opposition to the development of professional judgement, which is a key part of this course. Students who, through unavoidable and unplanned occurrences, are unable to attend a tutorial one week are encouraged to attend a consultation session to discuss any questions they have about their solutions.

Details on the delivery of this course and expectations of student participation will be outlined in further detail on the Wattle course site. Attendance at lectures and tutorials, while not compulsory, is expected in line with “Code of Practice for Teaching and Learning”, clause 2 paragraph (b).

Examination(s)

Delivered on-line and moderated. They will be closed book. Calculators are recommended.

Assessment Task 1

Online quiz

The online quiz will examine material from all the preceding weeks' lectures and tutorials. The Wattle quiz will be available over a period of 2 days (I anticipate Thursday night to Saturday night, 14 -16 March), however, the quiz, once started is only open for 30 minutes. Opening of the quizzes will be given with at least 2 days notice. Questions may be multiple choice, true/false, numerical, or short-answer. Details will be given on the Wattle course page. Questions will be randomly assigned. Please also note that you will not be able to navigate backwards through the quiz and there is only one attempt allowed. No late submission accepted. Results will be available within 5 days of the closing of the quiz.

Feedback: The answers will be released following the close of the quiz. You can raise additional questions in consultation times and/or tutorials.

This assessment is worth 5% of your final grade.

Assessment Task 2

Repeatable competency tests

There will be two repeatable competency test done online through Wattle. These will involve the mathematical analysis and solution of economic models (everyone will have different problems) with submission of numerical answers. You will be able to repeat the the same assessment task multiple times to try and increase your grade. The last date to submit an attempt will be 9pm on Thursday the 9th of May 2024. The competency test will be available for at least 3 weeks before the closing date. See course Wattle page for details and announcements.

Each test is worth 5%, for a total of 10%.

Feedback will be given in terms of a mark immediately after an attempt. General feedback will be given to the whole class after the closing date.

Assessment Task 3

In class time test 1

The in class time test will be delivered online through Wattle (16% of your final grade) in Week 8, Tuesday 23 April 2024, 12-2pm . The "in class time" refers to the timing not the location - there will nothing happening in the lecture theatre at the time of the test and I will not be there. The test will involve multiple choice, numerical and short answer questions. The test will examine material from all the preceding weeks' lectures and tutorials. Results will be available within 2 weeks of the test.

Feedback: The answers will be discussed in tutorials. You can raise additional questions in consultation times and/or tutorials.

Assessment Task 4

Tutorial problem sets

There will be problem sets to attempt before weekly tutorials most weeks (see course Wattle page for details). At the end of the semester I will randomly select 7 weeks' problem sets and of these 7 the best 5 will be averaged to produce your grade for this Assessment Task.

Answers will be written/diagrams/calculations and are to be uploaded through the provided Turnitin or Wattle link. The questions for each tutorial will be released in the week before the tutorial in which they are discussed and will be due before 9am Monday of the week in which they are discussed. Details will be provided separately for each problem set on the course Wattle page. Each problem set will be graded 0-2 (see rubric below).

Feedback: The answers will be discussed in tutorials. If you miss a tutorial you can get feedback by attending one of the course consultation times.

This assessment is worth 7% of your final grade.

Rubric

0 = No submission or very poor.	1= Some questions no attempted or unsatisfactory.	2= Satisfactory attempt at all questions

Assessment Task 5

FInal Exam

Final Exam will be held during the ANU Exam block at the end of the semester. The exam will cover all material covered in the course including readings (detailed guidance will be given in lectures about which sections of readings can be omitted). More information should be available in week 10 of semester on Wattle and through the ANU exam timetable. The final exam is compulsory and will count for 62% of your final grade. The exam will involve multiple choice, numerical, short and long answer questions. I anticipate the exam will be 2 hours.

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

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

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

Please refer to the information on this that was provided above in the discussion of the various assessment tasks. 

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 resubmission of any assignment after the due date and time for its submission will be permitted in this class.

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