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Australian School of Business

School of Economics

ECON1101

MICROECONOMICS

Course Outline

Semester 1 2011

Table of Contents

STAFF CONTACT DETAILS 3

1.1 Staff 3
1.2 Communications with staff 3
1.3 Pitstop 3

2 COURSE DETAILS 4

2.1 Teaching Times and Locations 4
2.2 Units of Credit 4
2.3 Summary of Course 4
2.4 Aims and Relationship to Other Courses 4
2.5 Student Learning Outcomes 5

3 LEARNING AND TEACHING ACTIVITIES 5

3.1 Approach to Learning and Teaching in the Course 5
3.2 Learning Activities and Teaching Strategies 6

4 ASSESSMENT 7

4.1 Formal Requirements 7
4.2 Quality Assurance 7
4.3 Assessment Details 8 4.3.1 Week 9 In-Session Test 8 4.3.2 Tutorial Participation 8
4.4 Final Exam Format 9
4.5 Feedback Quizzes 9

5 ACADEMIC HONESTY AND PLAGIARISM 10

6 COURSE EVALUATION AND DEVELOPMENT 10

7 STUDENT RESPONSIBILITIES AND CONDUCT 11

7.1 Workload 11
7.2 Attendance 11
7.3 Keeping Informed 11
7.4 Special Consideration and Supplementary Examinations 11

You must submit all assignments and attend all examinations scheduled for your course. You should seek assistance early if you suffer illness or misadventure which affects your course progress. 11

General Information on Special Consideration: 11

8 STUDENT RESOURCES AND SUPPORT 13

9 COURSE RESOURCES 14

9.1 Other useful Readings: 14

10 COURSE SCHEDULE 15

10.1 Lecture Schedule 15
10.2 Tutorial Schedule 15

11 KEY DATES AND STUDENT RESPONSIBILITIES 16

STAFF CONTACT DETAILS

1 Staff

Lecturer in Charge
Diane Enahoro
Room Number: ASB 461
Ph: 9385 3317
D.Enahoro@unsw.edu.au

Contact the Lecturer-in-Charge for all academic matters.

Course Administrator
Jonathan Lim
Room Number: ASB 463
Ph: 9385 3565
Jonathan.k.h.lim@unsw.edu.au

Lecturers
Ariel Ben Yishay
Room Number: ASB 404B
Ph: 9385 4967
a.benyishay@unsw.edu.au

Alberto Motta
Room Number: Quad 3124
Ph: 9385 9771 motta@unsw.edu.au Peter Nichols
Room Number ASB 465
p.nichols@unsw.edu.au

Contact the Course Administrator, Jonathan Lim for all matters.

Tutors
A full list of the tutors’ names and contact details will be available on the Course website by the first week of session.

2 Communications with staff

You should feel free to contact your lecturer about any academic matter. All enquiries about the subject material should be made at lectures or tutorials or during consultation time. Discussion of course subject material will not be entered into via lengthy emails.

3 Pitstop

Pitstop provides an opportunity for consultation with tutors. It will start in Week 3 and continue until Week 15; that is it continues into the exam study period. The schedule of Pitstop times for this course will be announced on the Course website.

COURSE DETAILS

1 Teaching Times and Locations

Lectures start in Week 1and end in Week 12. Tutorials start in Week 2 and end in Week 13. A full list of tutorials, times and names of tutors will be available on the Course website.

The lecture times and locations are shown in the table below.

|Lecture Group A |Mon 13:00 - 14:00, |Central Lecture Block |
| |Wed 10:00 - 11:00 |Keith Burrows Theatre |
|Lecture Group B |Mon 11:00 - 12:00 |Keith Burrows Theatre |
| |Tue 14:00 - 15:00 |Keith Burrows Theatre |
|Lecture Group C |Thu 12:00 - 13:00 | |
| |Fri 16:00 - 17:00 |Keith Burrows Theatre |
| | |Central Lecture Block |
|Lecture Group D |Wed 14:00 - 15:00 |Law Theatre |
| |Fri 11:00 - 12:00 |Law Theatre |
|Lecture Group E |Wed 18:00 - 20:00 |Law Theatre |
|Lecture Group F |Wed 15:00 - 16:00 |Law Theatre |
| |Fri 14:00 - 15:00 |Rex Vowels Theatre |

2 Units of Credit

The course is worth 6 units of credit.

3 Summary of Course

This course examines the principle that markets work efficiently in the allocation and production of goods and services which results in maximum welfare. However, sometimes the market fails to work (market failure); this course investigates the reasons for the market failure whilst suggesting remedies to these failures. These remedies, which include the intervention of the government, are compared and evaluated for their effect on efficiency and welfare maximisation.

4 Aims and Relationship to Other Courses

The aim of this course is to provide an introduction to microeconomic analysis. This means that ECON1101 Microeconomics 1 is an introductory course in the theory of markets with relevant applications to business, social and individual issues.

The course covers the principles and consequences of “rational” choice by individual economic agents in markets. The course also provides an introductory analysis of the role of governments in seeking to ensure the efficient operation of markets.

ECON1101 Microeconomics 1 provides a broad introduction to economic analysis and is a core requirement for all students in the B.Com and B. Ec program. ECON 1101 Microeconomics I is a prerequisite for ECON1102 Macroeconomics I and for all courses in the School of Economics with a course code number beginning with 2 or 3.

No previous study of economics is assumed.

5 Student Learning Outcomes

After studying ECON 1101, students should:

1. Be familiar with a core set of economic concepts and principles that are important for sound economic reasoning and rational decision making 2. Be able to apply this core set of economic concepts and principles to the understanding of a wide range of economic problems and issues. 3. Construct economic arguments in terms of these concepts, and present logical economic arguments in both written and oral form. 4. Be familiar with the different market environments in which management, social, and individual business decisions are made; 5. Have knowledge of the justifications for, and likely effects of Government Microeconomic policy.

This course contributes to your development of the following Australian School of Business Graduate Attributes which are the qualities, skills and understandings we want you to have by the completion of your degree.

Graduate Attributes

|Learning Outcomes |ASB Graduate Attributes |Attribute No. |
|1, 2, 3,5 |Critical thinking and problem solving |1 |
|2,3 |Communication |2 |
|3 |Teamwork and leadership |3 |
|4,5 |Social, ethical and global perspectives |4 |
|4,5 |In-depth engagement with relevant disciplinary knowledge |5 |
|4,5 |Professional skills |6 |

LEARNING AND TEACHING ACTIVITIES

1 Approach to Learning and Teaching in the Course

The philosophy underpinning this course and its Teaching and Learning Strategies are based on “Guidelines on Learning that Inform Teaching at UNSW. These guidelines may be viewed at: www.guidelinesonlearning.unsw.edu.au. Section 3.2 (below) provides more detail on Teaching and Learning Strategies for this course.

The lectures, tutorials and assessment have been designed to appropriately challenge students and support the achievement of the desired learning outcomes. A climate of inquiry and dialogue is encouraged between students and tutors and amongst students (in and out of class). The lecturer and tutors aim to provide meaningful and timely feedback to students to improve learning outcome.

The examinable content of the course is defined by the Text references given in the Lecture Outline, the content of lectures, the content of the Tutorial Program, and any additional material provided by the Lecturer in Charge.

2 Learning Activities and Teaching Strategies

Students will be taught the “core principles” of economics and given practice at applying these principles to everyday problems. The aim is to teach the students to “think like an economist” whether it is in everyday or workplace situations

Lectures
The purpose of Lectures is to provide a logical structure for the topics that make up the course; to emphasize the important concepts and methods of each topic, and to provide relevant examples to which the concepts and methods are applied.

Tutorials
The purpose of tutorial meetings is primarily to provide an opportunity for small group discussion of the issues, to which economic concepts and methods can be applied, and to provide practice and feed-back in writing short answers addressing specific questions as set out in the Problem and Review Questions.

A Tutorial Program which contains the Problem and Review Questions for tutorials will be distributed in the first lecture and will be posted on the Course website.

The Problem Questions consist of selected end-of-chapter problems and exercises from the textbook (Frank, Jennings and Bernanke) and other problems and exercises. Students should attempt the set of weekly exercises before each tutorial. The solutions will be posted on the web the following week.

In some tutorials students will be expected to write a paragraph type answer to questions. In the first tutorials these will be self assessed, in later tutorials these will be peer assessed and in a later tutorial these will be assessed by the tutor. The aim of these questions is to give you practice in writing answers. No marks will be awarded to self and peer assessed attempts but your participation in these writing tasks as a writer and as an assessor will form the basis of your mark out of 5 for class participation.

In the tutorials it is expected that the tutor will cover only those questions which students find particularly difficult. This may mean that not all the questions set out in the Tutorial Program will be addressed in each tutorial. Questions which are not covered in the tutorials can be addressed in PITSTOP or PASS (see Section 6.2 below) or posted on the Discussion forum of the website.

Out-of-Class Study
While students may have preferred individual learning strategies, it is important to note that 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 (on which the provision of the course materials is based) might include:

1. Reading of the relevant chapter(s) of the text and accessing the lecture overheads from the Course website before the lecture. This will give you a general idea of the topic area. 2. Attending lectures. Lectures are where the context of the topic in the course and the important elements of the topic are identified. The relevance of the topic will be explained. 3. Attending Tutorials and attempting the set Review and Problem Questions, checking their solutions. This will identify the things you need to do to demonstrate your understanding of a topic, and guide your re-reading of specific 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. This should be done after the lecture and before the following week’s tutorial. 4. Attempting the on-line multiple choice questions to check your understanding of the basic concepts of economics. 5. Attending PASS to work with other students in the course.

ASSESSMENT

1 Formal Requirements

To be eligible for a passing grade in this course, students must:

Achieve a composite mark of at least 50 per cent.

AND

Satisfactorily complete all assessment tasks or submit appropriate documentation relating to your failure to complete a task to either the Lecturer in Charge or the Course Administrator.

AND

Achieve a satisfactory level of performance in the final exam. This usually means a minimum mark of 50 per cent. Any student having an overall mark of 50 or more but less than 50 per cent in the final examination may be given an UF grade (unsatisfactory fail).

2 Quality Assurance

The ASB is actively monitoring student learning and quality of the student experience in all its programs. A random selection of completed assessment tasks may be used for quality assurance, such as to determine the extent to which program learning goals are being achieved. The information is required for accreditation purposes, and aggregated findings will be used to inform changes aimed at improving the quality of ASB programs. All material used for such processes will be treated as confidential and will not be related to course grades

3 Assessment Details

1 Week 9 In-Session Test

In the Week 9 tutorial (May 2 – May 6) each student will write an answer to a question which will be worth 25 marks of the total marks for the course.

Each class may have a different question set. The test will last 45 minutes and will cover all the material from Week 1, Lecture 1 to Week 8, Lecture 8. (This material will not have been covered in tutorials for all classes.) The format of this test will be a short written answer which may include drawing and explaining a diagram and/or calculating an answer to a problem and explaining the results. Every student must attempt this test.

Presentation of a medical certificate from a certified medical practitioner may allow a student who misses his class test to do the test at another tutorial the same week. For longer term illnesses with the appropriate documentation, students should consult the Course Administrator, Jonathan Lim.

Sporting events, religious camps and social events (even if associated with the University), work related absences and family ceremonies are not grounds for missing this test. Students are advised that where these events conflict with the examination date, missing the test will result in a zero mark.

Zero marks will be awarded for any student who does not complete this assignment.

There will be no supplementary exam for this component of the evaluation.

2 Tutorial Participation

Students will be awarded a mark out of 10 per cent of the total marks for the course. This will be for their attendance in class, evidence of their preparation of material and their contribution to class discussions and writing assignments. More details will be provided in tutorial.

|Marks Guide for Tutorial Attendance and Participation |
|Mark/5 |Attendance Requirement |
|0 |Attended less than 5 tutorials. |
|1 |Attended between 8 and 6 tutorials. |
|2 |Attended 9 tutorials |
|3 |Attended 10 tutorials |
|4 |Attended 11 tutorials |
|5 |Attended 12 tutorials |
|Mark/2 |Participation Requirement |
|0 |Produces work less than 50% of the time. |
|1 |Produces work between 50% and 100% of the time |
|2 |Produces work 100% of the time |
|Mark/3 |Tutor Assessed Written Task (Week 12) |
|1 |Tutor assessed work of a below acceptable standard |
|2 |Tutor assessed work of an acceptable standard |
|3 |Tutor assessed work of a high standard |
|Mark/10 |Total Tutorial Attendance and Participation |

The University requires that students attend 80% of their classes. Attendance at 9 of 12 tutorials will be deemed as meeting the requirement. Students must sign on by 10 minutes from start of tutorial to qualify as ‘in attendance’. Signing on for another student will be treated as misconduct.

The total mark for this component is 10 per cent of the total marks for the course.

In addition, this mark will form the basis of the consideration for the remarking of the final exam paper. A mark of 5 out of 10 for this component is considered to be the minimum requirement for requests for consideration.

If, owing to illness or other exceptional circumstances, you are unable to attend your usual tutorial, you may try to attend another tutorial in the same week so that you do not miss out on the work. However, you are required to attend your usual tutorial class at least 9 times during the session. This allows for occasional absence due to minor illness and other reasons, hence Special Consideration applications will not reduce this requirement.

Students should also note that, in certain circumstances, such as where a request for Special Consideration is made in relation to assessment items, tutorial attendance will be taken into account in determining your final assessment or whether Special Consideration is granted.

4 Final Exam Format

The final exam will be worth 60 per cent of total marks for the course. This will include multiple choice questions and short answer questions. It will be conducted in the University examination period. The timetable for this will be published by the UNSW Examination Branch.

|Assessment Task |Weighting |Learning Outcomes |ASB Graduate Attributes |Length |Due Date |
| | |assessed |assessed | | |
|In-tutorial Tests |25 |1-4 |1-4 |45 minutes |Week 9 |
|Class Attendance and |10 |1-4 |1-4 x |During each |Over the session |
|Participation Mark | | | |tutorial | |
|Feedback Quizzes |5 |1-4 |1-4 |No time limit |Over the session |
|Final Exam |60 |1-4 |1-4 |2 hours |University Exam |
| | | | | |Period |

5 Feedback Quizzes

Each week beginning Week 2 there will be an online quiz available via the Blackboard course website. You will find the quizzes on the “Online Feedback Quizzes” page in the course menu.
You may attempt each quiz as many times as you like. Each time you open the quiz, you will be given 10 multiple-choice questions at random from a larger set of questions. Upon submission of the quiz, you will immediately be able to see your score and the correct answers. These score will not be recorded in the Blackboard system – only the fact that you completed the quiz. These quizzes are for your own feedback.

Successful completion of each quiz is worth 0 .5 of a mark towards your final mark. There are 10 quizzes overall, for a potential total of 5 marks. You must make at least one valid submission for any particular quiz to receive credit. A valid attempt means all questions answered and the quiz submitted into the system. Upon successful submission you will see a confirmation on screen. Please remember to submit all attempts. Do not close a quiz without submitting.

You can check whether or not you have completed a quiz through the “Your Marks” link in Blackboard. Any quiz you have successfully submitted will have a green “tick” mark next to it.
It is recommended that you attempt each quiz more than once. The quizzes will give you a good indication of how well you understand the material each week. Working with the feedback quizzes will also help prepare you for the midsession and final exams.

ACADEMIC HONESTY AND PLAGIARISM

The University regards plagiarism as a form of academic misconduct, and has very strict rules regarding plagiarism.

For UNSW policies, penalties, and information to help you avoid plagiarism see: http://www.lc.unsw.edu.au/plagiarism/index.html as well as the guidelines in the online ELISE and ELISE Plus tutorials for all new UNSW students: http://info.library.unsw.edu.au/skills/tutorials/InfoSkills/index.htm.

To see if you understand plagiarism, do this short quiz: http://www.lc.unsw.edu.au/plagiarism/plagquiz.html

For information on how to acknowledge your sources and reference correctly, see: http://www.lc.unsw.edu.au/onlib/ref.html

For the ASB Harvard Referencing Guide, see the ASB Referencing and Plagiarism web page: http://www.asb.unsw.edu.au/learningandteaching/studentservices/resources/Pages/referencingandplagiarism.aspx

In the School of Economics all cases of substantial plagiarism are reported to the Associate Head of School. The following penalties will apply:

• Reduction in marks for the assessment item, including zero; • Failure in the course [00FL] in extreme cases; • Other additional penalties in accordance with the UNSW Procedures for Dealing with Student Plagiarism, may be considered in extreme cases; • All cases will be recorded on the UNSW Plagiarism Central Register

COURSE EVALUATION AND DEVELOPMENT

Each year feedback is sought from students about their experiences in courses offered in the School, and continual improvements are made based on this feedback. UNSW Course and Teaching Evaluation and Improvement (CATEI) Process is one of the ways in which student evaluative feedback is gathered.

Further Information about CATEI can be obtained from: http://www.catei.unsw.edu.au/catei/

STUDENT RESPONSIBILITIES AND CONDUCT

Students are expected to be familiar with and adhere to university policies in relation to class attendance and general conduct and behaviour, including maintaining a safe, respectful environment; and to understand their obligations in relation to workload, assessment and keeping informed.

Information and policies on these topics can be found in the ‘A-Z Student Guide’: https://my.unsw.edu.au/student/atoz/A.html. See, especially, information on ‘Attendance and Absence’, ‘Academic Misconduct’, ‘Assessment Information’, ‘Examinations’, ‘Special Consideration’, ‘Student Responsibilities’, ‘Workload’ and policies such as ‘Occupational Health and Safety’.

1 Workload

It is expected that you will spend at least ten hours per week studying this course. This time should be made up of reading, research, working on exercises and problems, and attending classes. In periods where you need to complete assignments or prepare for examinations, the workload may be greater.

Over-commitment has been a cause of failure for many students. You should take the required workload into account when planning how to balance study with employment and other activities.

2 Attendance

Your regular and punctual attendance at lectures and seminars is expected in this course. University regulations indicate that if students attend less than 80% of scheduled classes they may be refused final assessment.

3 Keeping Informed

You should take note of all announcements made in lectures, tutorials or on the course web site. From time to time, the University will send important announcements to your university e-mail address without providing you with a paper copy. You will be deemed to have received this information. It is also your responsibility to keep the University informed of all changes to your contact details.

4 Special Consideration and Supplementary Examinations

You must submit all assignments and attend all examinations scheduled for your course. You should seek assistance early if you suffer illness or misadventure which affects your course progress.

General Information on Special Consideration:

1. For assessments worth 20% or more, all applications for special consideration must go through UNSW Student Central (https://my.unsw.edu.au/student/academiclife/StudentCentralKensington.html) and be lodged within 3 working days of the assessment to which it refers; 2. Applications will not be accepted by teaching staff, but you should notify the lecture-in-charge when you make an application for special consideration through UNSW Student Central; 3. Applying for special consideration does not automatically mean that you will be granted a supplementary exam; 4. Special consideration requests do not allow lecturers-in-charge to award students additional marks.

ASB Policy on requests for Special Consideration for Final Exams:
The policy of the School of Economics is that the lecturer-in-charge will need to be satisfied on each of the following before supporting a request for special consideration:

1. Does the medical certificate contain all relevant information? For a medical certificate to be accepted, the degree of illness, and impact on the student, must be stated by the medical practitioner (severe, moderate, mild). A certificate without this will not be valid. 2. Has the student performed satisfactorily in the other assessment items? Satisfactory performance would require at least at least 40% in each assessment item specified in the Course Outline and meeting the obligation to have attended 80% of tutorials. 3. Does the student have a history of previous applications for special consideration? A history of previous applications may preclude a student from being granted special consideration.

Special Consideration and the Final Exam:
Applications for special consideration in relation to the final exam are considered by an ASB Faculty panel to which lecturers-in-charge provide their recommendations for each request. If the Faculty panel grants a special consideration request, this will entitle the student to sit a supplementary examination. No other form of consideration will be granted. The following procedures will apply:

1. Supplementary exams will be scheduled centrally and will be held approximately two weeks after the formal examination period. The dates for ASB supplementary exams for session 1, 2011 are: 12 July 2011 – exams for the School of Accounting 13 July 2011 – exams for all Schools other than Accounting and Economics 14 July 2011 – exams for the School of Economics If a student lodges a special consideration for the final exam, they are stating they will be available on the above dates. Supplementary exams will not be held at any other time. 2. Where a student is granted a supplementary examination as a result of a request for special consideration, the student’s original exam (if completed) will be ignored and only the mark achieved in the supplementary examination will count towards the final grade. Failure to attend the supplementary exam will not entitle the student to have the original exam paper marked and may result in a zero mark for the final exam.

If you are too ill to perform reasonably on the final exam, do not attend the final and apply for a supplementary instead. However granting of a supplementary exam in such cases is not automatic. If a student attends the regular final, s/he is unlikely to be granted a supplementary exam.

The ASB’s Special Consideration and Supplementary Examination Policy and Procedures for Final Exams for Undergraduate Courses is available at: http://www.asb.unsw.edu.au/currentstudents/resources/forms/Documents/supplementaryexamprocedures.pdf.

STUDENT RESOURCES AND SUPPORT

The University and the ASB provide a wide range of support services for students, including:

ASB Education Development Unit (EDU) (www.business.unsw.edu.au/edu)
Academic writing, study skills and maths support specifically for ASB students. Services include workshops, online and printed resources, and individual consultations. EDU Office: Room GO7, Ground Floor, ASB Building (opposite Student Centre); Ph: 9385 5584; Email: edu@unsw.edu.au

Capturing the Student Voice: An ASB website enabling students to comment on any aspect of their learning experience in the ASB: http://www.asb.unsw.edu.au/currentstudents/resources/studentfeedback/Pages/default.aspx Blackboard eLearning Support: For online help using Blackboard, follow the links from www.elearning.unsw.edu.au to UNSW Blackboard Support / Support for Students. For technical support, email: itservicecentre@unsw.edu.au; ph: 9385 1333

UNSW Learning Centre (www.lc.unsw.edu.au )
Academic skills support services, including workshops and resources, for all UNSW students. See website for details.

Library training and search support services: http://info.library.unsw.edu.au/web/services/services.html

IT Service Centre: Technical support for problems logging in to websites, downloading documents etc. https://www.it.unsw.edu.au/students/index.html
UNSW Library Annexe (Ground floor)

UNSW Counselling and Psychological Services (http://www.counselling.unsw.edu.au)
Free, confidential service for problems of a personal or academic nature; and workshops on study issues such as ‘Coping with Stress’ and ‘Procrastination’.
Office: Level 2, Quadrangle East Wing; Ph: 9385 5418

Student Equity & Disabilities Unit (http://www.studentequity.unsw.edu.au) Advice regarding equity and diversity issues, and support for students who have a disability or disadvantage that interferes with their learning. Office: Ground Floor, John Goodsell Building; Ph: 9385 4734

COURSE RESOURCES

The website for this course is on UNSW Blackboard at: http://telt.unsw.edu.au The Website contains copies of:
Course handouts, including the Course Outline the Tutorial Program, lecture slides, answers to tutorial questions, sample exam questions and answers, additional readings, and Course Announcements.

Students should consult this website at least once a week as it contains important information about the course. It will be assumed that all students have seen any notice posted on the Course website.

The textbook for this course is:
Frank, R. H., Jennings, S. & Bernanke, B.S. 2009, Principles of Microeconomics, 2nd edn, McGraw-Hill International Book Co., Sydney.

The publishers provide a range of support material for the textbook, including a Study Guide, and a website. Information on accessing this support material is provided in the introduction to the text.

While the support material may provide useful additional assistance to your study of the subject matter, the support material is not required reading. Students must make their own judgement as to whether accessing and using the support material is worthwhile. The examinable content of the textbook is defined by the Lecture Outline and the Tutorial Program (see below).

1 Other useful Readings:

The library holds a wide range of alternative textbooks covering microeconomic principles. While the text set for this course is sufficient reading, if you wish to supplement this with additional readings, you may consult these alternative books.

Some useful texts are (with the Library Call Number shown in brackets):

Jackson, J. McIver, R., McConnell, C. and Brue, S. (2007), Microeconomics, (8th Ed.) McGraw-Hill International Book Co., Tokyo. (S338.5/155)

McTaggart, D., Findlay, C. and Parkin, M., (2007), Microeconomics, Fifth Edition, Addison-Wesley, Sydney. (Library Call No S338.5/142).

Frank, Robert H. and Bernanke, B.S., (2004), Principles of Microeconomics, (2nd Ed.) McGraw-Hill, Irwin. (SQ338.5/197)

Baumol, W.J., Blinder, A.S., Gunther, A.W. and Hicks, J.R.L., (1992), Economics: Principles and Policy, Australian Edition, Harcourt Brace Jovanovich, Sydney. (S330/485F)

Samuelson, P., Nordhaus, W., Richardson, S., Scott, G., and Wallace, R., Economics, 3rd Aust. edition, Vol. 1, Microeconomics, McGraw Hill, Sydney, 1992 (S338.5/143)

Stiglitz, J.E., (1993), Principles of Microeconomics, Norton, New York. (S338.5/148)

COURSE SCHEDULE

1 Lecture Schedule

Lectures start in Week 1and finish in Week 12. There will be a notice on the Course website.

|LECTURE SCHEDULE |
|Week |Topic |Reference |
|Week 1 |Introduction/Administration |Ch 1 and |
|28 February-4 March |Thinking as an Economist. |Appendix |
| |Appendix 1 (may not be treated in lectures) | |
|Week 2 |Comparative Advantage: the Basis for Trade |Ch 2, Ch 8 (pp204-210) |
|7-11 March | | |
|Week 3 |Supply and demand: an Introduction |Ch 3 |
|14-18 March | | |
|Week 4 |Elasticity |Ch 4 |
|21-25 March | | |
|Week 5 |Demand: The Benefit side of the Market |Ch 5 |
|28 March – 1 April |Perfectly Competitive Supply : The Cost Side if the | |
| |Market |Ch 6 (pp 146 -151) |
|Week 6 |Perfectly Competitive Supply : The Cost Side if the |Ch 6 |
|4-8 April |Market | |
|Week 7 |Efficiency and Exchange |Ch 7 |
|11-15 April | | |
|Week 8 |Efficiency and Exchange continued |Ch 8 (pp211-223) |
|18-21April |The Quest for Profit and the Invisible Hand |Ch 9 |
|(Public Holiday22April) | | |
|Lecture Groups C and D should attend | | |
|any other lecture this week | | |
|Mid Session Break 22 - 29 April |
|Week 9 |Monopoly and other forms of Imperfect Competition |Ch 10 |
|2-6 May | | |
|Week 10 |Thinking Strategically |Ch 11 (pp 294-303) |
|9-13 May |Externalities |Ch 12 ( pp322-333) |
|Week 11 |Common Resources and Property Rights Public Goods and |Ch 12 ( pp 334-to end) |
|16-20 May |Their Financing |Ch 13 |
|Week 12 |The Economics of Information |Ch 14 |
|23-27 May |Revision |Revision |

2 Tutorial Schedule

Tutorials start in Week 2 and finish in Week 13. There will be a tutorial program posted on the Course website.

KEY DATES AND STUDENT RESPONSIBILITIES

It is your responsibility to ensure that:

You are recorded by the University as being correctly enrolled in all your courses.

You have successfully completed all prerequisite courses. Any work done in courses for which prerequisites have not been fulfilled will be disregarded (unless an exemption has been granted), and no credit given or grade awarded.

You abide by key dates:

Monday 28 February is the first day of Semester 1 lectures.

Sunday 6 March is the last day you can enrol in Semester 1 courses and is the due date for Semester 1 fees.

Thursday 31 March (Week 5) is the last day for students to discontinue without financial penalty (and the last date to finalise arrangements for FEE-HELP).

Sunday 17 April (end Week 7) is the last day to discontinue without academic penalty.

You organise your affairs to take account of examination and other assessment dates where these are known. Be aware that your final examination may fall at any time during the semester’s examination period. The scheduling of examinations is controlled by the University administration. No early examinations are possible.

The examination period for Semester 1, 2011, falls between Friday 10 June and Monday 27 June (provisional dates subject to change).

When the provisional examination timetable is released, ensure that you have no clashes or unreasonable difficulty in attending the scheduled examinations. The final examination timetable for Semester 1 is released in May (date TBA).

Note that the dates for ASB supplementary exams for session 1, 2011 are:
12 July 2011 – exams for the School of Accounting
13 July 2011 – exams for all Schools other than Accounting and Economics
14 July 2011 – exams for the School of Economics

A full list of UNSW Key Dates is located at: https://my.unsw.edu.au/student/resources/KeyDates.html