ECON 2512 - Advanced Economic Analysis II

North Terrace Campus - Semester 2 - 2017

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 Economic 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 2506
    Incompatible ECON 2509
    Assumed Knowledge ECON 1005 or ECON 1010
    Restrictions Only available to B.Economics (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: Dr Yaping Shan

    The first 6 weeks of the course will be taught by Dr Mark Dodd.
    The last 6 weeks of the course will be taught by Dr Yaping Shan.

    Further contact information available on MyUni.
    Course Timetable

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

  • Learning Outcomes
    Course Learning Outcomes
    1. Gain a deep understanding of the contemporary advanced economic theory across a broad spectrum of microeconomic topics, such as general equilibrium, externalities, public goods, uncertainty, risky assets, asymmetric information.
    2. Explain how the theory can be used to analyse and understand contemporary economic problems.
    3. Formulate economic problems using analytical, mathematical tools.
    4. Research and write concise comments on advanced economic theory topics.
    5. Discuss and communicate theoretical ideas using written English and Mathematics individually and in groups.
    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)
    Deep discipline knowledge
    • informed and infused by cutting edge research, scaffolded throughout their program of studies
    • acquired from personal interaction with research active educators, from year 1
    • accredited or validated against national or international standards (for relevant programs)
    1-5
    Critical thinking and problem solving
    • steeped in research methods and rigor
    • based on empirical evidence and the scientific approach to knowledge development
    • demonstrated through appropriate and relevant assessment
    1-5
    Teamwork and communication skills
    • developed from, with, and via the SGDE
    • honed through assessment and practice throughout the program of studies
    • encouraged and valued in all aspects of learning
    5
    Career and leadership readiness
    • technology savvy
    • professional and, where relevant, fully accredited
    • forward thinking and well informed
    • tested and validated by work based experiences
    1-5
    Intercultural and ethical competency
    • adept at operating in other cultures
    • comfortable with different nationalities and social contexts
    • Able to determine and contribute to desirable social outcomes
    • demonstrated by study abroad or with an understanding of indigenous knowledges
    1,2,4,5
    Self-awareness and emotional intelligence
    • a capacity for self-reflection and a willingness to engage in self-appraisal
    • open to objective and constructive feedback from supervisors and peers
    • able to negotiate difficult social situations, defuse conflict and engage positively in purposeful debate
    1-5
  • Learning Resources
    Required Resources
    Hal R. Varian (2015): Intermediate Microeconomics: A Modern Approach, W. W. Norton & Company; 9th edition
    Workouts in Intermediate Microeconomics. Theodore C. Bergstrom. 9th Edition. W.W.Norton
    Online Learning
    This course makes use of MyUni for the posting of course materials, assessment tasks, and important announcements. It is expected that all students will regularly check the MyUni course website, and regularly check their university email accounts.ol.
  • Learning & Teaching Activities
    Learning & Teaching Modes
    The course will use a wide variety of learning modes. While the core lectures provide the academic economics
    knowledge, the workshops provide hands on experience with applications of the theory.
    Workload

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

    The University expects full-time students (i.e. those taking 12 units per semester) to devote a total of 48 hours per week to their studies. This translates to 12 hours per week for a semester course.
    As such, students should expect to study for this course 4-8 hours per week outside of class sessions.

    Learning Activities Summary
    Teaching & Learning Activities Related Learning Outcomes
    Lectures 1,2,3


    The following topics will be covered for the first 6 weeks:

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

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

    -Uncertainty
    -Risky Assets
    -Auctions
    -Public goods
    -Asymmetric Information

  • 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
    Assessment Task Due Weighting Learning Outcome
    Assignments(individual work):
    Assignment 1 - for Dr Mark Dodd's part
    Assignment 2- for Dr Yaping Shan's part

    TBA
    TBA

    A1) 15%
    A2) 15%
    2,3,4,5
    Midterm Exam Week 6 35% 1,2,3
    Final Exam TBA 35% 1,2,3
    Total 100%
    Assessment Detail
    The assignment components for each part of the course will contain multiple separate assessment tasks, the details including due dates will be made availabe on MyUni.

    Further details about the assessment tasks will be made available on MyUni and in the class sessions.
    Submission
    Further detailed instructions regarding submission will be availabe on MyUni and in the class sessions.
    Students must retain a copy of all assignments submitted.
    Late submissions will generally not be accepted.
    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

    Students are reminded that in order to maintain the academic integrity of all programs and courses, the university has a zero-tolerance approach to students offering money or significant value goods or services to any staff member who is involved in their teaching or assessment. Students offering lecturers or tutors or professional staff anything more than a small token of appreciation is totally unacceptable, in any circumstances. Staff members are obliged to report all such incidents to their supervisor/manager, who will refer them for action under the university's student’s disciplinary procedures.

The University of Adelaide is committed to regular reviews of the courses and programs it offers to students. The University of Adelaide therefore reserves the right to discontinue or vary programs and courses without notice. Please read the important information contained in the disclaimer.