Unit convenor and teaching staff |
Unit convenor and teaching staff
Unit Convenor
Pundarik Mukhopadhaya
Contact via pundarik.mukhopadhaya@mq.edu.au
E4A 413
Tuesday 12-2pm
Tutor and Teaching Assistant
Ha Vu
Contact via ha.vu@mq.edu.au
E4A 429
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Credit points |
Credit points
3
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Prerequisites |
Prerequisites
15cp including ECON111 and (GPA of 2.0 or (admission to BEc or BCom or BAppFin or BActStud or BCom-Accg or BCom-ProfAccg or BBA))
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Corequisites |
Corequisites
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Co-badged status |
Co-badged status
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Unit description |
Unit description
This is an intermediate-level unit in theoretical and applied microeconomics. Topics include: consumer choice and the theory of demand; consumer welfare measurement; labour supply; intertemporal consumption; choice under uncertainty; theory of the firm; production and cost theory; profit maximisation; perfect competition; monopoly; oligopoly; game theory; and general equilibrium.
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Information about important academic dates including deadlines for withdrawing from units are available at https://www.mq.edu.au/study/calendar-of-dates
On successful completion of this unit, you will be able to:
Name | Weighting | Due |
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Tutorial engagement | 5% | Each tutorial |
Class Test | 25% | Week 6 |
Online Quizzes | 10% | Week 4, 12 |
Online Assignment | 10% | Week 9 |
Final Examination | 50% | University Examination Period |
Due: Each tutorial
Weighting: 5%
Due: Week 6
Weighting: 25%
Due: Week 4, 12
Weighting: 10%
Due: Week 9
Weighting: 10%
This assignment will be assessed via the MyEconlab website at http://www.pearsonmylabandmastering.com/au/
Detail information will be released on ilearn in week 6.
Due: University Examination Period
Weighting: 50%
This unit provides 3 hours face-to-face teaching per week. It consists of two hour lectures and one hour tutorials. (There are no tutorials in the first week of semester, and in Week 6 due to the class test. There are no lecture and no tutorial in Week 13 due to Public Holiday on Monday).
The timetable for lectures and tutorials can be found on the University web site at: http://www.timetables.mq.edu.au/
As per university safety Policy every student must have a seat. The lecture will not run with students standing or sitting on the floor. If a lecture room is overfull, the lecturer may ask unseated students to leave. This is a requirement of University health and safety regulations. Lecture slides will be available on the unit web page at http://ilearn.mq.edu.au.
Please consult the Unit Schedule for precise details of the currently scheduled lecture dates for the whole unit. During the semester, unforeseen circumstances may require the cancellation of some lectures and/or tutorials. Any changes will be announced as far as possible in advance on the unit web page.
Lectures will start punctually. Students should arrive on time. Students may ask questions at the END of the lecture. It is disruptive and discourteous to arrive late or talk during lectures.
Attendance at lectures will not be enforced, but is strongly recommended. Students who miss classes put themselves at a considerable disadvantage for several reasons, including:
Class attendance is only one part of university study. In addition to class attendance, students will need to spend around six to nine hours per week in private study in order to perform well in this unit.
Required Text
Pindyck R.S. and Rubinfeld D.L. (2013), Microeconomics (8th Ed), Pearson International Edition. (Mentioned elsewhere as the textbook)
The text is available for purchase at Co-op Bookshop. A small number are available on reserve in the library.
Supplementary General Texts
You may find other intermediate microeconomic texts useful:
Nechyba, T.J. (2011), Microeconomics: An Intuitive Approach with Calculus (1st Ed), South-Western.
Perloff, J.M, R. Smith, and D. Round (2014), Microeconomics, Pearson.
Varian, H.R. (2006), Intermediate Microeconomics: A Modern Approach (7th Ed), New York: Norton.
Frank, R.H. (2006), Microeconomics and Behaviour (6th Ed), Boston: McGraw-Hill.
Mathematical detail
Henderson, J.M and E. Quandt (1980), Microeconomic Theory: A Mathematical Approach. McGrawHill
Dowling, E.T. (1980), Introduction to Mathematical Economics (2nd ed), Schaum's Outline Seriesm McGrawHill.
Unit Web Page
Course material as well as up to date information concerning any aspect of the unit, including any changes to the schedule, will be available to students by logging on to the learning management system (iLearn) that can be accessed via https://ilearn.mq.edu.au/login/MQ/
This unit is taught as a mix of lectures and tutorials. The lectures are designed to provide the tools which can then be applied in tutorials. The tutorials comprise numerical problems and analytical questions and are detailed below in this document. There should be the opportunity to explore issues raised in lectures and to ask questions. The tutorials aim to improve understanding of microeconomic theory and policy.
Lectures – large group learning (2 hour each teaching week)
Independent learning – learning by doing (about 6 hours each teaching week and 9 hours each week during the 2-week mid-semester recess).
Tutorials – small group learning (1 hour each teaching week beginning in Week 2)
Week |
Lecture Topic |
Reading |
Tutorial |
1 |
I. Introduction II. Consumer behaviour |
Chapter 3 |
NO TUTORIAL |
2 |
Individual and market demand |
Chapter 4 |
Tutorial 1: Consumer behaviour |
3 |
Production with one-and two-input models |
Chapter 6 |
Tutorial 2: Individual and marker demand |
4 |
Cost of production in short and long run |
Chapter 7 | Tutorial 3: Production |
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Quiz 1, covering Lecture weeks 1, 2, 3, and 4. Opens 6pm Thursday 27/3/14. Closes 6pm Monday 31/3/14. |
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5 |
Profit maximization and competitive supply |
Chapter 8 |
Tutorial 4: Cost of production |
6 |
CLASS TEST: Covering Lecture weeks 1 to 5 |
NO Tutorial | |
Session Break (from Monday 14/4/14 to Friday 25/4/14) | |||
7 |
The analysis of competitive markets |
Chapter 9 |
Tutorial 5: Profit maximization, and Class-test Feedback |
8 |
Monopoly, and Price discrimination |
Chapters 10 and 11 |
Tutorial 6: The analysis of competitive markets |
9 |
Price discrimination (cont.) | Chapter 11 (cont.) | Tutorial 7: Monopoly |
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Online Assignment, covering Lecture weeks 5, 7, 8 and 9. Opens 6pm Thursday 15/5/14 Closes 6pm Thursday 22/5/14 |
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10 |
Monopolistic Competition and oligopoly | Chapter 12 | Tutorial 8:Price discrimination |
11 | Oligopoly (cont) and Game theory. | Chapter 12 (cont) | Tutorial 9: Monopolistic Competition. |
12 |
General equilibrium and economic efficiency |
Chapter 16 | Tutorial 10: Oligopoly and Game theory |
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Quiz 2, covering Lecture weeks 9, 10, 11, and 12. Opens 6pm Thursday 5/6/14. Closes 6pm Monday 9/6/14. |
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13 |
NO Lecture, NO tutorial due to Public Holiday. | ||
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This unit schedule is subject to change if necessary. |
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Macquarie University policies and procedures are accessible from Policy Central. Students should be aware of the following policies in particular with regard to Learning and Teaching:
Academic Honesty Policy http://mq.edu.au/policy/docs/academic_honesty/policy.html
Assessment Policy http://mq.edu.au/policy/docs/assessment/policy.html
Grading Policy http://mq.edu.au/policy/docs/grading/policy.html
Grade Appeal Policy http://mq.edu.au/policy/docs/gradeappeal/policy.html
Grievance Management Policy http://mq.edu.au/policy/docs/grievance_management/policy.html
Disruption to Studies Policy http://www.mq.edu.au/policy/docs/disruption_studies/policy.html The Disruption to Studies Policy is effective from March 3 2014 and replaces the Special Consideration Policy.
In addition, a number of other policies can be found in the Learning and Teaching Category of Policy Central.
Macquarie University students have a responsibility to be familiar with the Student Code of Conduct: https://students.mq.edu.au/support/student_conduct/
The nature of scholarly endeavour, dependent as it is on the work of others, binds all members of the University community to abide by the principles of academic honesty. Its fundamental principle is that all staff and students act with integrity in the creation, development, application and use of ideas and information. This means that:
Further information on the academic honesty can be found in the Macquarie University Academic Honesty Policy at http://www.mq.edu.au/policy/docs/academic_honesty/policy.html
Macquarie University uses the following grades in coursework units of study:
Grade descriptors and other information concerning grading are contained in the Macquarie University Grading Policy which is available at:
http://www.mq.edu.au/policy/docs/grading/policy.html
If, at the conclusion of the unit, you have performed below expectations, and are considering lodging an appeal of grade and/or viewing your final exam script please refer to the following website which provides information about these processes and the cut off dates in the first instance. Please read the instructions provided concerning what constitutes a valid grounds for appeal before appealing your grade.
The University is committed to equity and fairness in all aspects of its learning and teaching. In stating this commitment, the University recognises that there may be circumstances where a student is prevented by unavoidable disruption from performing in accordance with their ability. A special consideration policy exists to support students who experience serious and unavoidable disruption such that they do not reach their usual demonstrated performance level. The policy is available at:
http://www.mq.edu.au/policy/docs/special_consideration/policy.html
Macquarie University provides a range of support services for students. For details, visit http://students.mq.edu.au/support/
Learning Skills (mq.edu.au/learningskills) provides academic writing resources and study strategies to improve your marks and take control of your study.
Students with a disability are encouraged to contact the Disability Service who can provide appropriate help with any issues that arise during their studies.
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This graduate capability is supported by:
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This graduate capability is supported by:
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This graduate capability is supported by:
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This graduate capability is supported by:
Date | Description |
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14/01/2014 | The Prerequisites was updated. |