ECON 2516 - Intermediate Microeconomics II

North Terrace Campus - Semester 2 - 2021

This course builds on the microeconomic principles studied in the Level I Economics courses and provides a rigorous analysis of the way in which the market system functions as a mechanism for coordinating the independent choices of individual economic agents. It develops a basis for evaluating the efficiency and equity implications of competition and other market structures, and a perspective on the appropriate role of government. Included are the study of consumer choice, production and cost, market structure, and market failure. Intermediate Microeconomics II will put a strong emphasis on the mastery of theoretical concepts and analytical tools, with some applications to real world problems.

  • 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
    Prerequisites ECON 1010 & ECON 1012
    Incompatible ECON 2506; ECON 2512
    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.

  • 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)
    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)
    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
    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
    Career and leadership readiness
    • technology savvy
    • professional and, where relevant, fully accredited
    • forward thinking and well informed
    • tested and validated by work based experiences
    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
  • 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. 


    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
    Topic Book chapters
    Week 1 A consumer’s economic circumstances (Budget constraints) 2
    Week 2 Tastes and indifference curves (Utility and indifference curves) 4
    Week 3 Doing the best we can (Optimisation) 6
    Week 4 Income and substitution effects in consumer goods markets 7
    Week 5 Consumer surplus and deadweight loss 10
    Week 6 Profit-maximising choice: Producers 11 & 12
    Week 7 Competitive markets and the “Invisible Hand” (Equilibrium and welfare theorems) 14 & 15
    Week 8 Choice and markets in the presence of risk 17
    Week 9 Distortions of the “Invisible Hand” in competitive markets (Elasticities, price-distorting policies, and non-price rationing) 18
    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:

    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 Task Type Due Weighting Learning Outcome
    Assignment 1 Individual, summative Week 4  10% 1,2
    Assignment 2 Individual, summative Week 8 10 % 1,2
    Assignment 3 Individual, summative Week 12 10 % 1,2
    Midterm Individual, summative Week 6 30% 1-4
    Final Exam Individual, summative TBA 40% 1-4
    Assessment Detail
    Assignments - For each assignment, one of the assigned questions/problems will be  randomly selected to be graded. Solutions to each assignment will be discussed during the workshop session. 

    Mid semester test - It will consist of mathematical problems and short answer questions. Midterm will cover the topics of the first 5 weeks. Midterm will be done during the lecture time in Week 6.  

    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.
    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:
    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 ( 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.