ECON 2516 - Intermediate Microeconomics II
North Terrace Campus - Semester 2 - 2024
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General Course Information
Course Details
Course Code ECON 2516 Course Intermediate Microeconomics II Coordinating Unit 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 Incompatible ECON 2506, ECON 2512 Assumed Knowledge ECON 1012, ECON 1010 Restrictions Only available to B.Economics (Advanced) students Assessment Typically assignments, mid-term test and final exam Course Staff
Course Coordinator: Associate Professor Duygu Yengin
Course Timetable
The full timetable of all activities for this course can be accessed from Course Planner.
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Learning Outcomes
Course Learning Outcomes
On successful completion of this course, students will be able to:
1. Explain microeconomic theory models using mathematical tools and diagrams
2. Apply microeconomic models to design solutions to practical economic issues and real-world scenarios
3. Demonstrate a proficiency in utilising numerical and graphical techniques as well as verbal presentation of microeconomic concepts
4. Analyse and assess microeconomic policies implications, advantages and limitations.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) Attribute 1: Deep discipline knowledge and intellectual breadth
Graduates have comprehensive knowledge and understanding of their subject area, the ability to engage with different traditions of thought, and the ability to apply their knowledge in practice including in multi-disciplinary or multi-professional contexts.
1-4 Attribute 2: Creative and critical thinking, and problem solving
Graduates are effective problems-solvers, able to apply critical, creative and evidence-based thinking to conceive innovative responses to future challenges.
2,3 Attribute 3: Teamwork and communication skills
Graduates convey ideas and information effectively to a range of audiences for a variety of purposes and contribute in a positive and collaborative manner to achieving common goals.
4 Attribute 4: Professionalism and leadership readiness
Graduates engage in professional behaviour and have the potential to be entrepreneurial and take leadership roles in their chosen occupations or careers and communities.
2,34, Attribute 8: Self-awareness and emotional intelligence
Graduates are self-aware and reflective; they are flexible and resilient and have the capacity to accept and give constructive feedback; they act with integrity and take responsibility for their actions.
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Learning Resources
Required Resources
Textbook : Microeconomics: an Intuitive Approach with Calculus (Nechyba) -
Learning & Teaching Activities
Learning & Teaching Modes
2 hour lectures and 2 hour workshop each week, face to face.
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.Learning Activities Summary
Schedule Topic Book chapters Week 1 A consumer’s economic circumstances (Budget constraints) 2 Week 2 Tastes and indifference curves (Utility and indifference curves).
Different types of tastes4
5Week 3 Doing the best we can/Consumer's Optimal Choice 6 Week 4 Income and substitution effects in consumer goods markets 7 Week 5 Profit-maximising choice 11,12 Week 6 Midterm week Week 7 Cost minimization Week 8 Competitive Markets 14,15 Midsemester Break Week 9 Choice in the presence of risk 17 Week 10 Monopoly 23 Week 11 Strategic thinking and game theory 24 Week 12 Oligopoly 25 -
Assessment
The University's policy on Assessment for Coursework Programs is based on the following four principles:
- Assessment must encourage and reinforce learning.
- Assessment must enable robust and fair judgements about student performance.
- Assessment practices must be fair and equitable to students and give them the opportunity to demonstrate what they have learned.
- Assessment must maintain academic standards.
Assessment Summary
Assessment Task Task Type Due Weighting Learning Outcome Weekly Assignments Individual, summative Weeks 1-11, online submission 20% total 1,2 Weekly Workshop Quizzes Individual, summative Starting from week 2, in workshops 10% total 1,2 Midsemester Test Individual, summative Week 5, in lecture time 30% 1-4 Final Exam Individual, summative Exam Period 40% 1-4 Assessment Detail
Weekly assignments: Each week, you will be asked to solve an assignment based on previous week's topics.
For each week's assignment, you will get 1% for completion of the assignment, if you answer all questions of the assignment with sufficient detail showing your work and justification. You will not be penalized for missing upto 3 assignments.
Out of the total 11 assignments through the semester, the lecturer will randomly choose 2 assignments to grade at the end of the semester. Each graded assignment will carry 6% weight.
Solutions/feedback for each assignment will be discussed during the workshop sessions.
Weekly Quizzes: Starting from Week 2, there will be a 3 question quiz each week during workshop time. The quizes consist of multiple choice and/or True/False questions. Lecturer will give the answers after the quiz each week. Out of total 11 quizzes, 9 best will be taken into account (lowest two grades will be discarded).
Mid semester test - It will consist of mathematical problems and short answer questions. Midterm will cover the topics of the first 4 weeks, consumer choice. Midterm will be done during the lecture time in Week 5.
Final Exam - There will be a 3 hour exam. The final exam is comprehensive, i.e. it can cover ALL the topics of this course. It will consist of mathematical problems and short answer questions, and and may include multiple choice questions.Submission
Extensions and alternative assessment conditions for students with disabilities or those with elite athlete status: It is your responsibility to contact lecturer, in the first 2 weeks of the semester and provide them with a copy of your Access Plan or communicate to the course coordinator your elite athlete status. Please be mindful that you do not have an automatic right to extensions for assesments and that you must discuss options with your course coordinators.
Medical reports from only Australian registered medical practitioners are accepted. See for the list of acceptable medical practitioners: www.ahpra.gov.auCourse 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.
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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.
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Student Support
- Academic Integrity for Students
- Academic Support with Maths
- Academic Support with writing and study skills
- Careers Services
- International Student Support
- Library Services for Students
- LinkedIn Learning
- Student Life Counselling Support - Personal counselling for issues affecting study
- Students with a Disability - Alternative academic arrangements
- YouX Student Care - Advocacy, confidential counselling, welfare support and advice
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Policies & Guidelines
This section contains links to relevant assessment-related policies and guidelines - all university policies.
- Academic Credit Arrangements Policy
- Academic Integrity Policy
- Academic Progress by Coursework Students Policy
- Assessment for Coursework Programs Policy
- Copyright Compliance Policy
- Coursework Academic Programs Policy
- Elder Conservatorium of Music Noise Management Plan
- Intellectual Property Policy
- IT Acceptable Use and Security Policy
- Modified Arrangements for Coursework Assessment Policy
- Reasonable Adjustments to Learning, Teaching & Assessment for Students with a Disability Policy
- Student Experience of Learning and Teaching Policy
- Student Grievance Resolution Process
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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.
