Unit convenor and teaching staff |
Unit convenor and teaching staff
Pundarik Mukhopadhaya
Tutor
Asma Kashif
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Credit points |
Credit points
10
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Prerequisites |
Prerequisites
50cp at 1000 level or above including ECON111 or ECON1021
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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 may include: consumer choice; demand theory; 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. |
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:
Online quizzes
The first online quiz will cover lecture material from weeks 1-2, the second online quiz will cover lecture material from weeks 3-4, the third online quiz will cover lecture materials from weeks 5-8, the fourth online quiz will cover lecture materials from weeks 9-12.
During quiz weeks, quizzes will be released on iLearn at 9am on Monday and close at 5pm the following Sunday.
Individual Assignments
The first assignment is due by 3pm on Friday, Week 6 and the second assignment is due by 3pm on Friday, Week 12.
The first assignment will be available on iLearn in week 2 and the second assignment will be available in week 8.
Final exam
The examination will cover material drawn from all parts of the unit’s subject matter. The exam may consist of multiple-choice questions and written-answer questions.
Late submissions of assessments
Unless a Special Consideration request has been submitted and approved, no extensions will be granted. There will be a deduction of 10% of the total available assessment-task marks made from the total awarded mark for each 24-hour period or part thereof that the submission is late. Late submissions will only be accepted up to 96 hours after the due date and time.
No late submissions will be accepted for timed assessments – e.g., quizzes, online tests.
Table 1: Penalty calculation based on submission time
Submission time after the due date (including weekends) |
Penalty (% of available assessment task mark) |
Example: for a non-timed assessment task marked out of 30 |
<24 hours |
10% |
10% x 30 marks = 3-mark deduction |
24-48 hours |
20% |
20% x 30 marks = 6-mark deduction |
48-72 hours |
30% |
30% x 30 marks = 9-mark deduction |
72 – 96 hours |
40% |
40% x 30 marks = 12-mark deduction |
>96 hours |
100% |
Assignment won’t be accepted |
Special Consideration
To request an extension on the due date/time for a timed or non-timed assessment task, you must submit a Special Consideration application. An application for Special Consideration does not guarantee approval.
The approved extension date for a student becomes the new due date for that student. The late submission penalties above then apply as of the new due date
Name | Weighting | Hurdle | Due |
---|---|---|---|
Assignments | 30% | No | Week 6, Week 12 (Turnitin submission by 3 PM Friday) |
Online quizzes | 20% | No | Weeks 3, 5, 9, 13 (online) |
Final examination online | 50% | No | University examination period |
Assessment Type 1: Essay
Indicative Time on Task 2: 30 hours
Due: Week 6, Week 12 (Turnitin submission by 3 PM Friday)
Weighting: 30%
There will be two individual assignments to be completed during the session. Each assignment will be in the form of a 1,250 word written essay and is worth 15% of your final mark in the unit.
Assessment Type 1: Quiz/Test
Indicative Time on Task 2: 15 hours
Due: Weeks 3, 5, 9, 13 (online)
Weighting: 20%
There will be four online quizzes conducted throughout the session. 20% marks will be allocated equally to these quizzes (5% each quiz).
Assessment Type 1: Examination
Indicative Time on Task 2: 35 hours
Due: University examination period
Weighting: 50%
A two hour open book examination, consisting of multiple choice and short answer questions, will be held during the University Examination Period.
1 If you need help with your assignment, please contact:
2 Indicative time-on-task is an estimate of the time required for completion of the assessment task and is subject to individual variation
Delivery and Resources
Prescribed textbook
Students are recommended to purchase the following textbook:
The text is available for purchase https://www.booktopia.com.au/coop or may be purchased as an e-book (http s://www.vitalsource.com/en-au/products/microeconomics-austan-goolsbee-steven-v9781319136 628?term=goolsbee).
The publisher also provides additional resources through 'Launchpad', an online site that includes the e-book and various other resources (practice tests, etc). If you have purchased an access code for Launchpad, you should go to the website http://www.macmillanhighered.com/lau nchpad/gls2e/10291617 and enroll in the online course. Please note, this is an extra resource and it is NOT required for the unit. It is entirely optional whether or not you wish to purchase these extra resources. More information about Launchpad is provided in the introduction to the text.
Additional references (in alphabetical order)
Apart from the prescribed textbook, students may find the following resources useful.
For equity concerns, the library has assisted ECON2003 with placing scanned resources from a variety of resources on the library's e-Reserve website. If you are facing financial difficulties in obtaining a textbook, this could be an option for you.
Technology used and required
The unit uses the learning management system (iLearn) that can be accessed via iLearn.mq.edu.au. The lecture slides for each week’s lecture will be posted on iLearn by 5pm Friday each week before the lecture.
The iLearn site is also used to post important notices. You should check this regularly. The iLearn web page has the facility to allow peer to peer discussion and also allows students to put questions to an Online-Tutor. The Online-Tutor will attempt to answer your questions in a timely manner.
Learning and teaching activities
This unit is taught as a mix of tutorials and lectures. The lectures are designed to provide the tools which can then be applied in tutorials.
Lectures – large group learning (2 hours every week - delivered online - 1 hour pre-recorded & 1 hour online either by zoom or ECHO360)
Lectures are intended to provide an overview of the key concepts explored in the unit. Students are expected to read the relevant chapter(s) before each lecture. ECON2003 relies heavily on independent learning where students read the relevant chapter(s), revise lecture notes and prepare answers to the tutorial questions.
Tutorials – small group learning (1 hour for each topic online and/or face to face to allocated groups)
Tutorials constitute a critical learning experience of this unit and students must attend. Group work is an essential part of this learning. In ECON2003 we emphasise peer-to-peer learning by working as a group through the exercises and learning from others. Your tutor's role is to help you understand the material. Ask your tutor for guidance on how to approach questions and problems. Brief tutorial solutions will be posted on iLearn after completion of all classes of each week.
Note: The intended delivery mode may need to change after the start of the session due to the evolving covid situation and students need to ensure they keep up with iLearn Announcements made during the session accordingly.
PAL, Peer Assisted Learning (1 hour for each topic, subject to change)
Revision of the material from both lectures and tutorials.
Week |
Lecture Topic |
Readings |
Assessment |
1 |
Introduction; supply and demand revision |
Ch 2, 3 |
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2 |
Consumer behaviour |
Ch 4 |
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3 |
Individual and market demand |
Ch 5 |
Online quiz 1 |
4 |
Producer behaviour; costs |
Ch 6, 7 |
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5 |
Perfect competition; monopoly |
Ch 8, 9 |
Online quiz 2 |
6 |
Monopoly, Pricing strategies for firms with market power |
Ch 10 |
Assignment 1 |
MID-SESSION BREAK | |||
7 |
Imperfect competition |
Ch 11 |
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8 |
Game theory |
Ch 12 |
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9 |
Factor markets |
Ch 13 |
Online quiz 3 |
10 |
General equilibrium |
Ch 15 |
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11 |
General equilibrium (cont.); asymmetric information |
Ch 15,16 |
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12 |
Public economics and Externalities |
Ch 17 |
Assignment 2 |
13 |
Revision |
|
Online quiz 4 |
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Students seeking more policy resources can visit Student Policies (https://students.mq.edu.au/support/study/policies). It is your one-stop-shop for the key policies you need to know about throughout your undergraduate student journey.
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At Macquarie, we believe academic integrity – honesty, respect, trust, responsibility, fairness and courage – is at the core of learning, teaching and research. We recognise that meeting the expectations required to complete your assessments can be challenging. So, we offer you a range of resources and services to help you reach your potential, including free online writing and maths support, academic skills development and wellbeing consultations.
Macquarie University provides a range of support services for students. For details, visit http://students.mq.edu.au/support/
The Writing Centre provides resources to develop your English language proficiency, academic writing, and communication skills.
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Unit information based on version 2022.04 of the Handbook