Classes

Due to the compressed format of Session 3, there will be between two and four lectures each week, and either one or two tutorials each week. Please note that the first week has a different timetable to the rest of the semester. The timetable can be viewed at https://timetables.mq.edu.au/2012/. Select ECON111/Session3EOY and the Grid Timetable option. For weekly timetable views select week 50 for week 1 of classes, week 51 for week 2, week 54 for week 3, week 55 for week 4 and week 56 for week 5.

Furthermore, prior to the commencement of the session, you would have been mailed a CD/DVD of pre-recorded material. It is fundamental that you go through these recordings prior to each week's set of lectures. This CD/DVD is part of the mixed mode delivery of ECON111 in Session 3. The online quizzes will be ahead of physically delivered lectures as it is assumed that you have gone through the CD/DVD material prior to the physically delivered lecture. This system is designed to keep you working consistently throughout the session as well as ensure that you are able to grasp concepts more efficiently during physically delivered lectures due to the compressed format.

All students attend the same lecture stream, so must register in Class 1 for Lecture 1, Lecture 2, Lecture 3 and Lecture 4. Please note that Lecture 3 begins in week 2, and Lecture 4 is held in the last week only. There are several tutorial classes, and it is important to register for the same class for all the tutorials. Tutorial classes are not interchangeable. Although the same content is covered in each class, the tutor may cover the material at a different pace, and in a slightly different way, in each class. Your class registration is complete (and correct) once you have registered for ALL activites (in total 4 lecture sessions and 3 tutorial sessions across the 5 week period), and have registered in the SAME class for all tutorials.

Suggested Approach to Study for each Topic.

1. The material on CD/DVD should be followed by the relevant Online Quiz. This will test your understanding of the basic concepts.

2. The Online Quiz is then followed by the relevant Timetabled Lecture. This will explain, enhance and expand your knowledge of the relevant topic.

3. The timetabled Lecture is then followed by the relevant Readings. This will supplement your understanding of the relevant topic.

4. The relevant Readings are then followed by the relevant Tutorial. This will test your understanding of the relevant topic.

Required and Recommended Texts and/or Materials - Option 1

The textbook in ECON111 for 2012-13:

The Co-op bookstore has this book and it is recommended that students purchase a copy. A copy of this book has been placed in the reserve section of the library.

The publisher provides a range of support material for the textbook, including a website. Information on accessing this material is provided in the introduction to the text. The website material includes trial questions and quizzes. You may find it useful to devote some limited time to these questions and quizzes. They will give you some feedback on how your understanding is progressing. Note however that the bulk of your study time, outside of the classroom, should be devoted to studying

The specific chapters and pages that need to be read will be outlined in lectures and via iLearn.

Required and Recommended Texts and/or Materials - Option 2

If students so wish, they need not purchase the required textbook as the resources outlined below are available through the library's reserve. These are available on the library's physical reserve shelf and can only be borrowed for a 3 hour period. Furthermore, the library will be placing scanned copies of the materials outlined below onto their e-Reserve.

Students choosing this option may also wish to purchase the online study guide ('MyEconLab') for the McTaggart textbook stated above. This online study guide gives useful practice for students, and can be purchased direct from the publisher's website for a nominal fee. 

Library Reserve List in lieu of a Textbook Purchase

 Introduction to Microeconomics

McTaggart, Microeconomics 6^th edition, pages 4-6 & pages 10-13

HB172.M26 2010

Production Possibilities Frontier

McTaggart, Microeconomics 6^th edition, pages 34-41

HB172.M26 2010

Demand & Supply

Layton, Economics for Today 3^rd edition, pages 60-113

HB171.5.L39 2009

Elasticity

McEachern, Microeconomics 3^rd edition, pages 154-190

HB172.S93 2007

Efficiency and Government Intervention

Bernanke, Principles of Microeconomics 2^nd edition, pages 135-139; 146-139; 176-181 & 189-196

HB172.F73 2009

Economics of the Environment

Bernanke, Principles of Microeconomics 2^nd edition, pages 322-327

HB172.F73 2009

Consumer Theory

McTaggart, Microeconomics 6^th edition, pages 267-277

HB172.M26 2010

Producer Theory

McEachern, Microeconomics 3^rd edition, pages 260-281

HB172.S93 2007

Perfect Competition

Hubbard, Essentials of Economics, pages 188-217

HB171.5.E785 2010

Monopoly

Hubbard, Essentials of Economics, pages 222-246

HB171.5.E785 2010

Monopolistic Competition

Hubbard, Microeconomics, pages 312-322

HB172.HB3 2009

Oligopoly

Hubbard, Microeconomics, pages 338-348 & 362-365

HB172.HB3 2009

International Trade

Sloman, Microeconomics 2^nd edition, pages 511-531

HB172.S57 2002

Additional References

Your recommended textbook will be more than adequate for this unit. Listed below are a series of other texts on microeconomics that you should feel free to consult if you wish. These books cover most of the material covered in your textbook, but each one does so in its own unique way. You may choose to consult these books if you feel that a slightly different presentation of the material might aid your understanding. These books have been placed in the reserve section of the library.

Hubbard, G., Garnett, A., Lewis, P. and O’Brien, T., Microeconomics, Pearson Education, Australia, 2009.

Swann, M. and McEachern, W.A., Microeconomics: A Contemporary Introduction, Thomson, Australia, 3rd Edition, 2006.

Technology Used and Required

Unit Web Page

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 the unit web page, before the lecture. You will find it useful to download the slides prior to the lecture, and bring them to the lecture. The web page is also used to post important notices from time to time. You should check this web page regularly.

The unit web page has the facility to allow peer to peer discussion. The unit web page also allows students to put questions to an Online-Tutor. The Online-Tutor will attempt to answer your questions in a timely manner. 

If you have any problems accessing this web page you should go the Online Teaching Facility support web page at http://online.mq.edu.au/docs/tecinf.html

 CD/DVD

This was mailed to you prior to the commencement of the session. You are expected to be viewing these recordings prior to each week's lectures. This is to assist you in the compressed format for Session 3. The online quizzes each week will check whether you have indeed grasped the concepts of these recordings.   

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. This is a mixed mode delivery of the unit where material will be presented in class, on CD/DVD as well as online.

Lectures – large group learning

Lectures are intended to provide an overview of the key concepts explored in the unit. Students are expected to read the relevant chapters before each lecture.

Independent learning

ECON111 relies heavily on independent learning where students read the relevant chapter, revise lecture notes and prepare answers to the tutorial questions.

CD/DVD

This was mailed to you prior to the commencement of the session. You are expected to be viewing these recordings prior to each week's lectures. This is to assist you in the compressed format for Session 3. The online quizzes each week will check whether you have indeed grasped the concepts of these recordings.

Tutorials – small group learning

Tutorials constitute a critical learning experience of this unit and students must attend. Group work is an essential part of this learning. In ECON111 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. 

The UNIT SCHEDULE below will be replicated on iLearn in a coloured format for clarity.

Please note there are two follow-up extensions of the topics "Production Possibilities Frontier" and "Demand and Supply". These extensions will be presented in multimedia format via iLearn.

Students are advised to go through these follow up extensions called "Efficiency" and "Trade" AFTER the lectures in Week 1, but BEFORE they submit their assignment. You are otherwise free to go through these extensions at your own pace. These extensions will not affect the flow of subsequent material in ECON111.