Unit convenor and teaching staff |
Unit convenor and teaching staff
Unit convenor & Lecturer
Pundarik Mukhopadhaya
Contact via Email
E4A 413
Tuesdays 12.30-1.30
Teaching Assistant & Tutor
Asma Kashif
Contact via Email
Please check ilearn for the update
Asma Kashif
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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 | 5% | No | Every week |
Assignment 1 | 20% | No | Week 7 |
Assignment 2 | 25% | No | Week 11 |
Final Examination | 50% | No | University Examination Period |
Due: Every week
Weighting: 5%
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 in order to earn 5% of the unit mark.
Participation will assess how active you are in the class and online discussion board. The in class participation assessment will include how often you answer your tutor's question; and/or volunteer to work out the solution on white board. For the final assessment your participation from ten (of the twelve) tutorials will count towards your final grade. Thus, only if you are absent for more than two tutorials, should you apply for Special Consideration. Based on your activity throughout the whole session, you will be awarded the whole 5% or a part thereof. Not attending and participating in any one tutorial (out of 10) without approval will result a loss of 0.5%. It is your responsibility to get engaged in the tutorial class, that means if you prefer to sit back and just listen, you may receive 0% for this component. (Note that: there is no mark for attendance only). It is strongly recommended that students make themselves available and attend as many tutorials as possible.
Failure to engage: If you are unable to attend a class due to illness or misadventure, you may apply for Special Consideration (see the Policies and Procedures section for details). Please note the best 10 of your 12 tutorial engagements are summed for the 5%. Only if you miss more than two tutorials should you apply for disruption to studies.
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: Week 7
Weighting: 20%
This research based individual assignment will be based on the material from topics 1-5. Further details will be provided by week 2.
Assignment marking: The assignment will be marked on the basis of the marking criteria, which will be provided on iLearn.
Extensions/Penalties: Students who do not submit the assignment will be awarded a mark of 0, except for cases in which an application for 'Special Consideration' has been made and approved (see the Policies and Procedures section for details). No extension will be granted. There will be a deduction of 10% if the total available marks made from the total awarded marks for each 24 hour period and part there off that the submission is made (for example, 25 hours late in submission means 20% penalty). This penalty shall not apply for cases where Disruption of Studies is made and approved.
Due: Week 11
Weighting: 25%
This research based individual assignment will be based on the material covered in the lecture. Further details will be provided in due course.
Assignment marking: The assignment will be marked on the basis of the marking criteria, which will be provided on iLearn.
Extensions/Penalties: Students who do not submit the assignment will be awarded a mark of 0, except for cases in which an application for 'Special Consideration' has been made and approved (see the Policies and Procedures section for details). No extension will be granted. There will be a deduction of 10% if the total available marks made from the total awarded marks for each 24 hour period and part there off that the submission is made (for example, 25 hours late in submission means 20% penalty). This penalty shall not apply for cases where Special Consideration is made and approved.
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. Further details of the structure of the final examination will be provided in due course.
The conditions for the requesting and granting of Special Consideration 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. Students should also be aware that the supplemental exam will be thoroughly comprehensive of all material taught.
Lectures time and location:
Monday 6-8pm; Room 21WW MACTH
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 Easter Monday). 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:
Perloff, J.M. (2016) Microeconomics (7th Ed), Pearson (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. This text is accompanied by MyEcon Lab. Details on logging on to access My EconLab will be provided in iLearn. This resource is available for student's practice and is not assessed for the unit.
Supplementary General Texts
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.
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 12-week semester (Due to Easter Monday there will not be any lecture or tutorial during the week of April 2). 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 |
1: Consumer Choice | Chapter 4 |
Tutorial begins in Week 2 Note: You need to attend your registered tutorial class. |
2: Applying Consumer Theory | Chapter 5 | 01. Consumer choice |
3: Firms and Production | Chapter 6 | 02. Applying Consumer theory |
4: Costs |
Chapter 7 |
03. Firms and production |
5: Competitive firms and markets |
Chapter 8,9 |
04. Costs |
No Lecture and Tutorial | ||
6: General Equilibrium |
Chapter 10 |
05. Competitive firms and markets |
7: Monopoly, Pricing and advertising | Chapters 11 & 12 | 06. General Equilibrium |
8: Oligopoly and Monopolistic Competition | Chapter 13 | 07. Monopoly, pricing and advertising |
9: Factor Markets | Chapter 15 | 08. Oligopoly and Monopolistic Competition |
10: Game Theory | Chapter 14 | 09. Factor Markets |
11: Externalities, Open-Access and Public Good | Chapter 18 | 10. Game Theory |
12: Asymmetric Information | Chapter 19 | 11. Externalities, Open-Access and Public Good |
Macquarie University policies and procedures are accessible from Policy Central (https://staff.mq.edu.au/work/strategy-planning-and-governance/university-policies-and-procedures/policy-central). Students should be aware of the following policies in particular with regard to Learning and Teaching:
Undergraduate students seeking more policy resources can visit the Student Policy Gateway (https://students.mq.edu.au/support/study/student-policy-gateway). It is your one-stop-shop for the key policies you need to know about throughout your undergraduate student journey.
If you would like to see all the policies relevant to Learning and Teaching visit Policy Central (https://staff.mq.edu.au/work/strategy-planning-and-governance/university-policies-and-procedures/policy-central).
Macquarie University students have a responsibility to be familiar with the Student Code of Conduct: https://students.mq.edu.au/study/getting-started/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
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