Unit convenor and teaching staff |
Unit convenor and teaching staff
Unit convenor & Lecturer
Pundarik Mukhopadhaya
Contact via Email
E4A 413 - Phone 9850 6476
Please check ilearn for the update
Teaching Assistant & Tutor
Ha Vu
Contact via Email
E4A 429
Please check ilearn for the update
Lecturer
Kompal Sinha
Contact via Email
E4A 402
Please check ilearn for the update
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Credit points |
Credit points
3
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Prerequisites |
Prerequisites
15cp at 100 level or above including ECON111
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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 | Hurdle | Due |
---|---|---|---|
Tutorial | 10% | No | Each week |
Online Quizzes | 15% | No | Weeks 3, 6, 9, 12 |
Class Test | 25% | No | Week 7 |
Final Examination | 50% | No | University Examination Period |
Due: Each week
Weighting: 10%
Tutorials constitute a critical learning experience of this unit, within which the tutor will facilitate a highly student-centred discussion of answers to pre-set questions. A tutorial is also an active forum to present to the tutor difficulties you may have encountered when preparing for the questions. Students are required to participate in tutorial classes and submit homework in order to earn 10% of the unit mark.
Tutorial assessment includes two components: Homework (5%) and Participation (5%).
Altogether tutorial homework and participation will contribute 10% to your final mark in this unit.
If you are unable to attend a class due to illness or misadventure, you may apply for Disruption to Studies (see the Policies and Procedures section for details). And if you get approval, you will be required to submit an alternative written assessment.
Facts you may need to know:
(i) Even though tutorial solutions will be made available on iLearn at the end of each week, those are mere guide only and tutors explain them in details during the tutorials. Thus do NOT rely only on the published solution for understanding, rather attend the tutorials.
(ii) Statistics show that among those who failed, 50% of them got zero in tutorial assessment. That means had they participated during the tutorials and submitted homework regularly, they would have passed the unit.
Due: Weeks 3, 6, 9, 12
Weighting: 15%
There will be 4 online quizzes in this course, and each containing 25 multiple choice questions. They are of equal weight and together they will contribute 15% to your total mark in the unit. Each student will most likely face a slightly different set of questions. The quizzes will be accessed online through the unit web page at http://ilearn.mq.edu.au. The opening and closing dates and time for each quiz. are as follow:
Quiz 1: Open: 9am Saturday 18 March; and Close: 11pm Monday 20 March.
Quiz 2: Open: 9am Saturday 8 April; and Close: 11pm Monday 10 April.
Quiz 1: Open: 9am Saturday 13 May; and Close: 11pm Monday 15 May.
Quiz 1: Open: 9am Saturday 03 June; and Close: 11pm Monday 05 June.
Please note that no extensions will be granted. Failure to complete any quiz will result in a zero mark for that quiz. The penalty does not apply for cases in which an application for disruption to studies is made and approved. In this case, students will have to complete an alternative quiz.
Students must be aware that IT failures may occur, and that with large numbers of students, congestion can at times limit access. It is the student’s responsibility to plan for these possibilities, and completion of the quiz soon after release is strongly advised.
Read the "Instruction for Online Quizzes" carefully before attempting.
Due: Week 7
Weighting: 25%
A 90-minute test (including multiple choice questions and written-answer questions) will be held in place of the lectures in Week 7. This test is an indication of the form of the final examination.
Failure to attend the class test without the submission of an application for Disruption to Studies on the grounds of illness or unavoidable mishap together with the required supporting documentation (see the Policies and Procedures section for details) will result in a mark of zero for the assessment.
If the application for Disruption to Studies is accepted, the student will have to take a supplementary test which could be an oral test or could include only written-answer questions.
Due: University Examination Period
Weighting: 50%
A 2 hour final examination for this unit will be held during the University Examination period. For details check: http://www.timetables.mq.edu.au/exam. The examination will contain multiple choice questions and written-answer questions.
The conditions for the requesting and granting of Disruption to Studies are set out in the Policies and Procedures section of this Unit Guide. If a Supplementary Examination is granted as a result of the Disruption to Studies process, the examination will be scheduled after the conclusion of the official examination period. You are advised that it is Macquarie University policy not to set early examinations for individuals or groups of students. All students are expected to ensure that they are available until the end of the teaching semester, the final day of the official examination period. Also, although the material coverage for the Supplementary exam would be the same as the final exam, it will include ALL written answers questions (NO multiple choice questions).
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 7 due to the class test). The timetable for lectures and tutorials can be found on the University web site at: http://www.timetables.mq.edu.au.
Lecture slides will be available on the unit web page at http://ilearn.mq.edu.au. Please consult the Unit Schedule for the lecture topics in each week. 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.
Attendance is highly recommended. Students who miss classes put themselves at a considerable disadvantage for several reasons, including:
Besanko D. and Braeutigam R.R. (2014) Microeconomics (5th Ed), Wiley (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.
You may find other intermediate microeconomic texts useful:
Pindyck R.S. and Rubinfeld D.L. (2013), Microeconomics (8th Ed), Pearson International Edition.
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. (2014), Intermediate Microeconomics: A Modern Approach (9th Ed), New York: Norton.
Frank, R.H. (2010), Microeconomics and Behaviour (8th Ed), Boston: McGraw-Hill.
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 Series McGrawHill.
1. There are 12 topics to be covered over the 13-week semester (there will be NO lecture in Week 6 due to the class test). Some topics are longer than others, thus the numbering of topics below is tentative and not related to the number of lecture weeks.
2. It is essential that students either attend the lecture class or watch the ilecture for each topic on a weekly basis.
Lecture Topic | Textbook's Chapter | Tutorial |
Topic 1: Consumer preference and Utility | Chapter 3 |
Tutorial begins in Week 2 Note: You need to attend your registered tutorial class. |
Topic 2: Consumer Choice | Chapter 4 | 01. Consumer preference |
Topic 3: Demand Theory | Chapter 5 | 02. Consumer choice |
Topic 4: Inputs and Production Functions |
Chapter 6 |
03. Demand theory |
Topic 5: Costs and cost minimization |
Chapter 7 |
04. Production |
Topic 6: Cost Curves |
Chapter 8 |
05. Costs and Cost minimization |
Topic 7: Market structures: Perfect Competition, Monopoly, and Monopolistic Competition | Chapters 9, 11 & 13 (partly) | 06. Cost curves |
Topic 8: Producer and Consumer Surplus and Their Applications | Chapter 10, 11 & 13 (partly) | 07. Market structures |
Topic 9: Price discrimination and capturing surplus | Chapter 12 | 08. Producer and Consumer Surplus and Their Applications |
Topic 10: Oligopoly | Chapter 13 | 09. Price discrimination |
Topic 11:Game theory and strategic behavior | Chapter 14 | 10. Oligopoly |
Topic 12: Externalities and Public goods | Chapter 17 | 11.Game theory |
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_2016.html
Grade Appeal Policy http://mq.edu.au/policy/docs/gradeappeal/policy.html
Complaint Management Procedure for Students and Members of the Public http://www.mq.edu.au/policy/docs/complaint_management/procedure.html
Disruption to Studies Policy (in effect until Dec 4th, 2017): http://www.mq.edu.au/policy/docs/disruption_studies/policy.html
Special Consideration Policy (in effect from Dec 4th, 2017): https://staff.mq.edu.au/work/strategy-planning-and-governance/university-policies-and-procedures/policies/special-consideration
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/
Results shown in iLearn, or released directly by your Unit Convenor, are not confirmed as they are subject to final approval by the University. Once approved, final results will be sent to your student email address and will be made available in eStudent. For more information visit ask.mq.edu.au.
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.
For all student enquiries, visit Student Connect at ask.mq.edu.au
For help with University computer systems and technology, visit http://www.mq.edu.au/about_us/offices_and_units/information_technology/help/.
When using the University's IT, you must adhere to the Acceptable Use of IT Resources Policy. The policy applies to all who connect to the MQ network including students.
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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: