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 small personal project where they apply the concepts from class to a real-world application of their choice.

Examination Material or equipment

The midterm and final exam are invigilated closed-book exams run by the Examinations division. A single A4 page with normal size notes on one side is permitted in the exam. Also, a non-programmable calculator is permitted, but should not be necessary.

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. Other editions are also acceptable, but may have some differences in page numbers, chapter numbers, etc.

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 in the form of a solutions sketch or discussed in class.
• 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). 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

Each week tutorial questions for the following weeks tutorials will be uploaded onto wattle. It is expected that you go over these questions, and think them through. 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	Consumer Behaviour
3	Elasticities
4	Producer Theory
5	Equilibrium	Reflection Task #1
6	Markets in the long run and Government Intervention	Midterm Exam (in Week 6 OR 7)
7	Externalities, Public Goods and Common Property Resources	Midterm Exam (in Week 6 OR 7)
8	Monopolies
9	Monopolistic Competition and Price Discrimination	Reflection Task #2
10	Topics in Microeconomics - Game Theory (Oligopolies and Sequential Games)
11	Topics in Microeconomics - Behavioural Economics
12	Topics in Microeconomics - Behavioural Game Theory and International Trade	Final Exam during exam period

Tutorial Registration

All tutorials this semester will be delivered on-campus.

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
Tutorial Engagement	15 %	*	*	1,2,3,4,5
Reflection Tasks	10 %	17/03/2025	27/03/2025	1,2,3
Midterm Exam	32 %	*	*	1,2,3,4,5,6
Final Exam	43 %	*	26/06/2025	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 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
• Extenuating Circumstances Application
• 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

Delivery of this course will be on campus. 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 face-to-face lectures and tutorial, supplemented by Consultation times, which will be available each day. Echo360 recordings of the lectures will be available in case you are unable to attend a lecture. There are no recordings of tutorial material.

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

Tutorial Engagement

In each tutorial tutors will check students' attempts at the weekly problem set and allocate 1 mark for demonstration of a reasonably complete attempt, 0.5 marks for demonstration of partial attempt, and 0 marks for no attempt. Students are hence strongly encouraged to come to tutorials prepared, having clearly attempted the weekly problem sets and reviewed the lecture material. The overall tutorial engagement mark, which makes up 15% of the overall course grade, will be the arithmetic average of the 8 highest marks obtained in the 11 tutorials. At the end of week 6, students will receive feedback about their tutorial attempt marks for the first half of the semester.

Assessment Task 2

Reflection Tasks

At the start of Weeks 5 and 9, you will be asked to produce a short reflection on your work in the course so far. These will typically be quite short, around a page each time. Each reflection will be fully scaffolded, with indications on what you should discuss. You will likely be asked to think about what aspects of the course have been most difficult, what aspects have been easiest, most interesting, least interesting., most surprising, etc.

Further details will be given no less than 2 weeks before each due date. The due date in the assessment box is the due and return date for the first piece of assessment only.

These assessments are equally weighted. Submission through Wattle.

Assessment Task 3

Midterm Exam

A mid-semester exam will be held during the ANU mid-semester exam period - (Week 6 or 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 32% to your final grade. The exam will be two hours, closed-book, and run on-campus by the Examinations division during the mid semester exam period. The exam may contain a mix of multiple choice, numerical, and short answer questions. Further details will be given on Wattle in week 4 or 5 (depending if we get allocated week 6 or week 7) .

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 for 43% of your final grade. The exam will be three hours, closed-book, and run on-campus by the Examinations division during the exam period. The exam may contain a mix of multiple choice, numerical, and short answer questions. 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. 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

For online submitted assessment tasks a general grace period of 7 days applies, that means submissions are still permitted until 7 days after the due date. If an assessment task is not submitted by the end of the 7 day grace period following 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. Any use of artificial intelligence must be properly referenced. Failure to properly cite use of Generative AI will be considered a breach of academic integrity.

Returning Assignments

Tutorial Engagement will be check at the start of each tutorial. Reflections will be returned within roughly one week.

Examination scripts will be available for viewing through the RSE Enquiries desk at specific times.

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 Accessibility 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 supports you make your own decisions about how you learn and manage your workload.
• ANU Counselling promotes, supports and enhances mental health and wellbeing within the University student community.
• ANUSA supports and represents all ANU students