ECON2101 Microeconomics 2 - 2024
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ECON2101 Microeconomics 2 - 2024
Course Details & Outcomes
Course Description
Decision-making by consumers, producers, and governments lies at the heart of economic analysis. The frst half of this intermediate course in microeconomic theory is devoted to the study of decision-making and the modelling of associated market behaviour. We then study how individual economic decisions interact in markets with varying degrees of competition, paying substantial attention to the comparative welfare outcomes produced by different market forms. Additional topics include externalities, game theory and its applications and asymmetric information (if time permits). There is emphasis on the use of analytical tools and mathematical models, which underpin much of the world's current research in microeconomics
Course Aims
This course provides an overview of Microeconomics at an intermediate level and focuses on the application of microeconomics to the solving of problems. It builds on the foundation established in ECON1101 (Microeconomics 1) and relies on mathematical techniques taught in ECON1202 (Quantitative Analysis). Some foundational materials are also covered in COMM1100.
It is also an essential prerequisite for a large number of third-year economics courses, which build on the material taught in this course.
Relationship to Other Courses
Prerequisite: (ECON1101 or COMM1100) and (ECON1202, MATH1031, MATH1131, MATH1141 or MATH1151)
Course Learning Outcomes
Course Learning Outcomes |
Program learning outcomes |
CLO1 : Demonstrate an understanding of economic concepts and their appropriate usage; construct economic arguments in terms of these concepts. |
• PLO1 : Business Knowledge • PLO2 : Problem Solving • PLO3 : Business Communication |
CLO2 : Use appropriate mathematical techniques to construct and solve economic models; apply economic models to the analysis of choice problems and markets. |
• PLO1 : Business Knowledge • PLO2 : Problem Solving |
CLO3 : Construct written and analytical work which communicates ideas in a succinct and clear manner, and is logically and professionally presented. |
• PLO1 : Business Knowledge • PLO2 : Problem Solving • PLO3 : Business Communication |
CLO4 : Understand environmental and sustainability problems arising from non- cooperative decision making among agents/ frms/countries. |
• PLO1 : Business Knowledge • PLO5 : Responsible Business Practice • PLO6 : Global and Cultural Competence |
Course Learning Outcomes |
Assessment Item |
CLO1 : Demonstrate an understanding of economic concepts and their appropriate usage; construct economic arguments in terms of these concepts. |
• Quizzes • Written Questions • Final examination |
CLO2 : Use appropriate mathematical techniques to construct and solve economic models; apply economic models to the analysis of choice problems and markets. |
• Quizzes • Written Questions • Final examination |
CLO3 : Construct written and analytical work which communicates ideas in a succinct and clear manner, and is logically and professionally presented. |
• Written Questions • Final examination |
CLO4 : Understand environmental and sustainability problems arising from non- cooperative decision making among agents/ frms/countries. |
• Written Questions • Final examination |
Learning and Teaching Technologies
Moodle - Learning Management System | Echo 360
Learning and Teaching in this course
This course takes the approach that economic theory is best learnt through extensive practice with problem-solving. Students will spend much of their energy working through numerical problems that require the direct application of theoretical principles. The examinable content of the course is defned by the text references given in the lecture schedule, the content of lectures, the content of the tutorial program, and the problems in the Homework Assignments.
Lectures
The purpose of lectures is to provide a logical structure for the topics that make up the course, to emphasise the important concepts and methods of each topic, and to provide relevant examples to which the concepts and methods are applied.
All lectures will be face-to-face. The lecture recordings will be available for download from Echo360 (24 hours after the live lectures). However, the course staff are not experts in recording technology, and will not be responsible for system failure. From our experience, it is very likely that students will gain more, and perform better, if they attend class in person than otherwise.
Note that lecturers may use the black (or white) board. This use will not show up in recordings.
Tutorials
The purpose of tutorial meetings is primarily to provide an opportunity for small group discussion of the economic concepts and methods, and to use those concepts and methods to understand applied problems which are assigned in the Homework Assignments.
Tutorials will begin from Week 2. Each tutorial is scheduled for 90 minutes. They will take place during the times listed in the Class Timetable. Nearly all tutorials are in-person and on-campus. Please check the mode of delivery and location of your tutorial in the Class Timetable.
Out-of-Class Study
While students may have preferred individual learning strategies, most learning will be achieved outside of class time. Lectures can only provide a structure to assist your study, and tutorial time is limited.
An ideal strategy includes:
Reading the relevant chapter(s) of the text before the lecture - this will give you a general idea of the topic area.
Attending the lectures. Here the context of the topic in the course and the important elements of the topic are identifed. The relevance of the topic is explained, and problem-solving methods are illustrated.
· Staying engaged with the course discussion forum and asking any questions you have about the material. Our discussion forum will be housed on “Ed”, which is math friendly and very conducive to interaction.
· Attempting the assigned problems and preparing answers for them. This will identify the
things you need to do to demonstrate your understanding of a topic and guide your re-reading of specifc parts of the text. This will also provide a self-test of your understanding and identify those parts of the topic with which you have problems.
· Attending tutorials. Although attendance is not mandatory, there is no substitute for attending tutorials for this course.
Assessments
Assessment Structure
Assessment Item |
Weight |
Relevant Dates |
Program learning outcomes |
Quizzes Assessment Format: Individual |
30% |
Due Date: 4pm on Fridays of Weeks 2-5 and 7-10. |
• PLO1 : Business Knowledge • PLO2 : Problem Solving • PLO3 : Business Communication • PLO5 : Responsible Business Practice • PLO6 : Global and Cultural Competence |
Written Questions Assessment Format: Individual |
20% |
Start Date: Monday of weeks 5 and 9 Due Date: Friday 4pm of weeks 5 and 9 |
• PLO1 : Business Knowledge • PLO2 : Problem Solving • PLO3 : Business Communication • PLO5 : Responsible Business Practice • PLO6 : Global and Cultural Competence |
Final examination Assessment Format: Individual |
50% |
Start Date: Not Applicable Due Date: UNSW Exam Period |
• PLO1 : Business Knowledge • PLO2 : Problem Solving • PLO3 : Business Communication • PLO5 : Responsible Business Practice • PLO6 : Global and Cultural Competence |
Assessment Details
Quizzes
Assessment Overview
In the Moodle quizzes, you will be required to solve problems similar to those seen in lectures and tutorials.
Assesses: PLO1, PLO2, PLO3, PLO5, PLO6
BCom students: myBCom course points for PLO6
Course Learning Outcomes
CLO1 : Demonstrate an understanding of economic concepts and their appropriate usage; construct economic arguments in terms of these concepts.
CLO2 : Use appropriate mathematical techniques to construct and solve economic models; apply economic models to the analysis of choice problems and markets.
Detailed Assessment Description
There are 8 quizzes, each is worth 6%. The mark for the best fve quizzes will be recorded.
Written Questions
Assessment Overview
There will be two written assignments. These assignments will consist of a handful of more substantial problems.
Assesses: PLO1, PLO2, PLO3
Course Learning Outcomes
CLO1 : Demonstrate an understanding of economic concepts and their appropriate usage; construct economic arguments in terms of these concepts.
CLO2 : Use appropriate mathematical techniques to construct and solve economic models; apply economic models to the analysis of choice problems and markets.
CLO3 : Construct written and analytical work which communicates ideas in a succinct and clear manner, and is logically and professionally presented.
CLO4 : Understand environmental and sustainability problems arising from non- cooperative decision making among agents/ frms/countries.
Detailed Assessment Description
There will be two written assignments (10% each). These assignments will consist of a handful of more substantial problems
Answers to the written questions are due in week 5 and week 9.
If you fail to submit a homework in time due to circumstances beyond your control, you may apply for SpecialConsideration . A successful Special Consideration application will result in points from the missed homework being reallocated towards fnals.
Assessment Length
One working week
Submission notes
You must write out your workings in your answer and upload it via a dedicated link on Moodle (using an app, like Camscanner, that converts mobile-phone photos of your work to a scan-like pdf).
Assignment submission Turnitin type
This is not a Turnitin assignment
Final examination
Assessment Overview
This will beheld during the University examination period. You will have 2 hours to complete. It will test knowledge from the whole course.
Assesses: PLO1, PLO2, PLO3, PLO5, PLO6
BCom students: myBCom course points for PLO2
Course Learning Outcomes
CLO1 : Demonstrate an understanding of economic concepts and their appropriate usage; construct economic arguments in terms of these concepts.
CLO2 : Use appropriate mathematical techniques to construct and solve economic models; apply economic models to the analysis of choice problems and markets.
CLO3 : Construct written and analytical work which communicates ideas in a succinct and clear manner, and is logically and professionally presented.
CLO4 : Understand environmental and sustainability problems arising from non- cooperative decision making among agents/ frms/countries.
Detailed Assessment Description
This will beheld during the University examination period. The fnal exam will be in the format of a Moodle quiz which you will have 2 hours to complete. It will test knowledge from the whole
course. You are allowed to access all course resources during the exam (lecture videos, slides, textbook, etc.).
BCom students: myBCom course points for PLO2
Assessment Length
2 hours
Submission notes
The fnal exam will be in the format of a Moodle quiz which you will have 2 hours to complete.
Assignment submission Turnitin type
This is not a Turnitin assignment
General Assessment Information
Grading Basis
Standard
Requirements to pass course
In order to pass this course students must:
• Achieve a composite mark of at least 50 out of 100
• Engage actively in course learning activities and attempt all assessment requirements
• Meet any additional requirements specifed in the assessment details
• Meet the specifed attendance requirements of the course (see Schedule section)
2024-02-17