ECON 2512 - Advanced Economics Analysis II

North Terrace Campus - Semester 2 - 2015

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
    Available for Study Abroad and Exchange Y
    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: Associate Professor Mandar Oak

    First 6 weeks of the course will be taught by Dr Duygu Yengin
    Last 6 weeks of the course will be taught by Associate Professor Mandar Oak.
    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


    Hal R. Varian (2009): Intermediate Microeconomics: A Modern Approach, W. W. Norton & Company; Eighth Edition edition (December 3, 2009) 
    Workouts in Intermediate Microeconomics. Theodore C. Bergstrom. 9th Edition. W.W.Norton

    For the second half of the course (weeks 7-12) we will draw on the material available at 
    http://ocw.mit.edu/courses/economics/14-03-microeconomic-theory-and-public-policy-fall-2010/lecture-notes/


    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 following topics will be covered for the first 6 weeks:

    -Review of consumer choice
    -Revealed preferences, Buying and Selling
    -General equilibrium
    -Externalities
    -Public goods

    The following topics will be covered during weeks 7-12:

    -Choice under uncertainty
    -Risk and insurance
    -Economics of information
    -Contract theory

  • 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
    Assignments for Dr Yengin's part (15%)
    Midterm on Week 6 (35%)

    Assignments for Assoc. Prof. Oak's part: (15%) 
    Final Exam (35%)
    Assessment Detail
    Please see the Assessment Summary for a breakdown of the assessment tasks.

    Mid-term and Final exam will each be two hour, closed book exams.

    Assignments may include problem sets, article presentations and small projects.
    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.

    Additional Assessment

    If a student receives 45-49 for their final mark for the course they will automatically be granted an additional assessment. This will most likely be in the form of a new exam (Additional Assessment) and will have the same weight as the original exam unless an alternative requirement (for example a hurdle requirement) is stated in this semester’s Course Outline. If, after replacing the original exam mark with the new exam mark, it is calculated that the student has passed the course, they will receive 50 Pass as their final result for the course (no higher) but if the calculation totals less than 50, their grade will be Fail and the higher of the original mark or the mark following the Additional Assessment will be recorded as the final result.
  • 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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