Students

ECON2003 – Microeconomic Analysis and Applications

2023 – Session 1, Online-scheduled-weekday

General Information

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Unit convenor and teaching staff Unit convenor and teaching staff
Pundarik Mukhopadhaya
pundarik.mukhopadhaya@mq.edu.au
Credit points Credit points
10
Prerequisites Prerequisites
50cp at 1000 level or above including ECON111 or ECON1021
Corequisites Corequisites
Co-badged status Co-badged status
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.

Important Academic Dates

Information about important academic dates including deadlines for withdrawing from units are available at https://www.mq.edu.au/study/calendar-of-dates

Learning Outcomes

On successful completion of this unit, you will be able to:

  • ULO1: Analyse and describe how principles of microeconomics are relevant in decision-making by economic agents.
  • ULO2: Critically analyse microeconomic theory in the solution of real life economic problems.
  • ULO3: Demonstrate competence in communicating the knowledge, solution and interpretation of models in microeconomics.

General Assessment Information

Late submissions of assessments

Late Assessment Submission Penalty (written assessments) 

Unless a Special Consideration request has been submitted and approved, a 5% penalty (of the total possible mark) will be applied each day a written assessment is not submitted, up until the 7th day (including weekends). After the 7th day, a grade of ‘0’ will be awarded even if the assessment is submitted. Submission time for all written assessments is set at 11.55pm. A 1-hour grace period is provided to students who experience a technical concern.  

For any late submissions of time-sensitive tasks, such as scheduled tests/exams, performance assessments/presentations, and/or scheduled practical assessments/labs, students need to submit an application for Special Consideration.

 

Assessment Tasks

Name Weighting Hurdle Due
Quizzes 20% No Weeks 3, 5, 9, 13 (online)
Assignments 30% No Week 6, Week 12 (Turnitin submission by 3 PM Friday)
Final examination 50% No University examination period

Quizzes

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 quizzes conducted throughout the session. 20% marks will be allocated equally to these quizzes (5% each quiz).

 
On successful completion you will be able to:
  • Analyse and describe how principles of microeconomics are relevant in decision-making by economic agents.
  • Critically analyse microeconomic theory in the solution of real life economic problems.
  • Demonstrate competence in communicating the knowledge, solution and interpretation of models in microeconomics.

Assignments

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.

 
On successful completion you will be able to:
  • Analyse and describe how principles of microeconomics are relevant in decision-making by economic agents.
  • Critically analyse microeconomic theory in the solution of real life economic problems.
  • Demonstrate competence in communicating the knowledge, solution and interpretation of models in microeconomics.

Final examination

Assessment Type 1: Examination
Indicative Time on Task 2: 35 hours
Due: University examination period
Weighting: 50%

 

A two-hour examination, consisting of multiple choice and short answer questions, will be held during the University Examination Period.

 
On successful completion you will be able to:
  • Analyse and describe how principles of microeconomics are relevant in decision-making by economic agents.
  • Critically analyse microeconomic theory in the solution of real life economic problems.
  • Demonstrate competence in communicating the knowledge, solution and interpretation of models in microeconomics.

1 If you need help with your assignment, please contact:

  • the academic teaching staff in your unit for guidance in understanding or completing this type of assessment
  • the Writing Centre for academic skills support.

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

Refer to iLearn for details of delivery and resources

Unit Schedule

 

Week

 

Lecture Topic

   

 Readings (Microeconomics 3e, by Gloosbee et al.)

   

 

Assessment

1

Introduction; supply and demand revision

Ch 2, 3

 

2

Consumer behaviour

Ch 4

 

3

Individual and market demand

Ch 5

     Online quiz 1

4

Producer behaviour; costs

Ch 6, 7

 

5

Perfect competition; monopoly

Ch 8, 9

Online quiz 2

6

Monopoly, Pricing strategies for firms with market power

Ch 10

Assignment 1

7

Imperfect competition

Ch 11

    

8

Game theory

Ch 12

 

9

Factor markets

Ch 13

Online quiz 3

10

General equilibrium

Ch 15

 

11

General equilibrium (cont.); asymmetric information

Ch 15,16

 

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.

To find other policies relating to Teaching and Learning, visit Policy Central (https://policies.mq.edu.au) and use the search tool.

Student Code of Conduct

Macquarie University students have a responsibility to be familiar with the Student Code of Conduct: https://students.mq.edu.au/admin/other-resources/student-conduct

Results

Results published on platform other than eStudent, (eg. iLearn, Coursera etc.) 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 or if you are a Global MBA student contact globalmba.support@mq.edu.au

Academic Integrity

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.

Student Support

Macquarie University provides a range of support services for students. For details, visit http://students.mq.edu.au/support/

The Writing Centre

The Writing Centre provides resources to develop your English language proficiency, academic writing, and communication skills.

The Library provides online and face to face support to help you find and use relevant information resources. 

Student Services and Support

Macquarie University offers a range of Student Support Services including:

Student Enquiries

Got a question? Ask us via AskMQ, or contact Service Connect.

IT Help

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.

Unit information based on version 2023.01 of the Handbook