ECON 2516 - Intermediate Microeconomics II

North Terrace Campus - Semester 2 - 2022

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)

    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.


    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.


    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.


    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.


    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.

  • 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). 
    Different types of tastes
    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: One imput-One output 11
    Week 7 Profit-maximising choice: Multiple inputs
    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:

    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
    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 TBA 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.
    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.