ECON 2512 - Advanced Economics Analysis II

North Terrace Campus - Semester 2 - 2014

This course has two key and complementary objectives: To advance the students' understanding of microeconomic theory beyond Principles of Microeconomics I and Intermediate Microeconomics IIA; and to further develop analytical techniques and research skills from Advanced Economic Analysis I. Enrolment is restricted to BEc(Adv) students. By the end of the course students will have an understanding of the nature of theoretical research and analysis in microeconomics. Students will develop skills in applying theoretical analysis to topics such as market failure and uncertainty, general equilibrium analysis, the role of government and behavioural economics.

  • General Course Information
    Course Details
    Course Code ECON 2512
    Course Advanced Economics Analysis II
    Coordinating Unit School of Economics
    Term Semester 2
    Level Undergraduate
    Location/s North Terrace Campus
    Units 3
    Contact Up to 4 hours per week
    Prerequisites ECON 1011 or ECON 1008 or STATS 1000 or STATS 1005, ECON 1004, ECON 2506
    Incompatible ECON 2509
    Assumed Knowledge ECON 1005 or ECON 1010
    Restrictions Only available to B.Ec (Advanced) students
    Course Description This course has two key and complementary objectives: To advance the students' understanding of microeconomic theory beyond Principles of Microeconomics I and Intermediate Microeconomics IIA; and to further develop analytical techniques and research skills from Advanced Economic Analysis I. Enrolment is restricted to BEc(Adv) students. By the end of the course students will have an understanding of the nature of theoretical research and analysis in microeconomics. Students will develop skills in applying theoretical analysis to topics such as market failure and uncertainty, general equilibrium analysis, the role of government and behavioural economics.
    Course Staff

    Course Coordinator: Professor Ralph-Christopher Bayer

    A/Prof Ralph-C Bayer
    Director of AdLab, School of Economics
    Office hours: By appointment only, +61 8 8313 4666
    Office location: Nexus 10 Building, Level 4, Room 4.19

    The course will be taught by four experts in the field.

    A/Prof Mandar Oak (Adelaide)
    A/Prof Ralph Bayer (Adelaide)
    A/Prof Paul Pezanis-Christou (Adelaide)
    Dr Paul Schweinzer (York Univeristy, UK)
    Course Timetable

    The full timetable of all activities for this course can be accessed from Course Planner.

  • Learning Outcomes
    Course Learning Outcomes
    After successfully participating in this course student will be able to:

    1 Understand the the microeconomic underpinnings of welfare economics
    2 Make a welfare-economic argument
    3 Evaluate the validity of welfare-economic arguments
    4 Be familiar with welfare economic concepts (such as allocative efficiency, social welfare, externalities, etc.)
    5 Research and write concise comments on welfare-economic topics
    6 Complete a group research project and communicate the findins
    University Graduate Attributes

    This course will provide students with an opportunity to develop the Graduate Attribute(s) specified below:

    University Graduate Attribute Course Learning Outcome(s)
    Knowledge and understanding of the content and techniques of a chosen discipline at advanced levels that are internationally recognised. 1, 4
    The ability to locate, analyse, evaluate and synthesise information from a wide variety of sources in a planned and timely manner. 2,5,6
    An ability to apply effective, creative and innovative solutions, both independently and cooperatively, to current and future problems. 5,6
    Skills of a high order in interpersonal understanding, teamwork and communication. 6
    A proficiency in the appropriate use of contemporary technologies. 4
    A commitment to continuous learning and the capacity to maintain intellectual curiosity throughout life. 5
    A commitment to the highest standards of professional endeavour and the ability to take a leadership role in the community. 5
    An awareness of ethical, social and cultural issues within a global context and their importance in the exercise of professional skills and responsibilities. 1,4,5
  • Learning Resources
    Required Resources
    As a background we use:

    Hal R. Varian (2009): Intermediate Microeconomics: A Modern Approach, W. W. Norton & Company; Eighth Edition edition (December 3, 2009)
    Online Learning
    We will use myuni intensively as an online learning tool.
  • Learning & Teaching Activities
    Learning & Teaching Modes
    The course will use a wide variety of learning modes. Lectures will vary between core lectures and research-training oriented workshops. While the core lectures provide the academic economics
    knowledge, the workshops provide hands on experience with research in welfare economics.
    Workload

    The information below is provided as a guide to assist students in engaging appropriately with the course requirements.

    On average beyond attending lectures and tutorials, students are expected to spend about 4 hours per week for reading, solving practice examples, preparing projects and studying. The time required  may vary across students and topics.
    Learning Activities Summary
    The course will have four blocks of three weeks each.  Each of the block will be taught by a different expert in the field and will have one piece of assessment that will require students to engage in guided research activity.
    Weeks 1-3 Basics of Welfare Economics A/Prof Mandar Oak
    Weeks 4-6 Externalities A/Prof Ralph Bayer
    Weeks 7-9 Allocating Mechanisms A/Prof Paul Pezanis-Christou
    Weeks 10-12 Informational Imperfections Dr Paul Schweinzer
  • Assessment

    The University's policy on Assessment for Coursework Programs is based on the following four principles:

    1. Assessment must encourage and reinforce learning.
    2. Assessment must enable robust and fair judgements about student performance.
    3. Assessment practices must be fair and equitable to students and give them the opportunity to demonstrate what they have learned.
    4. Assessment must maintain academic standards.

    Assessment Summary
    The assessment will be comprised of four research focused tasks (i.e. one for each of the four blocks) and of a final exam covering the whole course.

    The weighting is as follows:

    Research tasks 60% (i.e. 15% each)
    Final exam 40%
    Assessment Detail

    No information currently available.

    Submission

    No information currently available.

    Course Grading

    Grades for your performance in this course will be awarded in accordance with the following scheme:

    M10 (Coursework Mark Scheme)
    Grade Mark Description
    FNS   Fail No Submission
    F 1-49 Fail
    P 50-64 Pass
    C 65-74 Credit
    D 75-84 Distinction
    HD 85-100 High Distinction
    CN   Continuing
    NFE   No Formal Examination
    RP   Result Pending

    Further details of the grades/results can be obtained from Examinations.

    Grade Descriptors are available which provide a general guide to the standard of work that is expected at each grade level. More information at Assessment for Coursework Programs.

    Final results for this course will be made available through Access Adelaide.

  • Student Feedback

    The University places a high priority on approaches to learning and teaching that enhance the student experience. Feedback is sought from students in a variety of ways including on-going engagement with staff, the use of online discussion boards and the use of Student Experience of Learning and Teaching (SELT) surveys as well as GOS surveys and Program reviews.

    SELTs are an important source of information to inform individual teaching practice, decisions about teaching duties, and course and program curriculum design. They enable the University to assess how effectively its learning environments and teaching practices facilitate student engagement and learning outcomes. Under the current SELT Policy (http://www.adelaide.edu.au/policies/101/) course SELTs are mandated and must be conducted at the conclusion of each term/semester/trimester for every course offering. Feedback on issues raised through course SELT surveys is made available to enrolled students through various resources (e.g. MyUni). In addition aggregated course SELT data is available.

  • Student Support
  • Policies & Guidelines
  • Fraud Awareness

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