ECON1006: Semester 2, 2023

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Units ECON1006 Semester 2 2023 [Normal day]

Unit of study_

ECON1006: The Economics of Everything

Semester 2, 2023 [Normal day] - Camperdown/Darlington, Sydney

Overview

From school teachers manipulating test scores, to criminal behaviour, economics is increasingly being used to analyse non-market issues. This unit provides insights on these issues using an economic perspective. An underlying premise of this analysis is that people respond to incentives created by rules and institutions, sometimes in perverse or unintended ways. This unit studies real-world cases, including compulsory testing in schools, crime and punishment, corruption, and the role of government in correcting market failures. This unit also considers the implications for traditional economic analysis if information is imperfect and people are not fully rational.

Unit details and rules

Unit code	ECON1006
Academic unit	Economics
Credit points	6
Prohibitions ?	None
Prerequisites ?	None
Corequisites ?	None
Assumed knowledge ?	None
Available to study abroad and exchange students	Yes

Teaching staff

Coordinator	Rebecca Taylor, r.taylor@sydney.edu.au
Lecturer(s)	Rebecca Taylor, r.taylor@sydney.edu.au

Type	Description	Weight	Due	Length
Supervised exam ?	Final exam Short-answer, extended response, and multiple-choice questions	50%	Formal exam period	2 hours
Outcomes assessed:
Supervised test ?	In-class Mid-semester test 60-min test during lecture time in Week 8. Short-answer, multiple-choice.	30%	Week 08 Due date: 19 Sep 2023 at 09:00	1 hour
Outcomes assessed:
Assignment	Group presentation + Peer review 10-minute video group presentation + reviewing 3 peer videos	20%	Week 13 Due date: 30 Oct 2023 at 23:59 Closing date: 30 Oct 2023	10-minute video
Outcomes assessed:
= group assignment ?

Assessment summary

Group video presentation: Students will be asked to form groups of 4-6 to work together on this assessment. Specific details of the assessment task will be provided later in the semester.
Mid-semester test: This will consist of multiple-choice and short-response questions.
Final exam: This will consist of multiple-choice, short-response, and extended-response questions.
Practice Quizzes: Two online multiple-choice quizzes will be given in Weeks 7 and 12 to help students prepare for the exams. These optional quizzes will cover material on the required readings and slides for the previous topics. The quizzes will be posted on Canvas and will remain open until the final exam.

Detailed information for each assessment can be found on Canvas.

Assessment criteria

The University awards common result grades, set out in the Coursework Policy (Schedule 1).

As a general guide, a High Distinction indicates work of an exceptional standard, a Distinction a very high standard, a Credit a good standard, and a Pass an acceptable standard.

Result name	Mark range	Description
High distinction	85 - 100
Distinction	75 - 84
Credit	65 - 74
Pass	50 - 64
Fail	0 - 49	When you don’t meet the learning outcomes of the unit to a satisfactory standard.

For more information see sydney.edu.au/students/guide-to-grades.

For more information see guide to grades.

Late submission

In accordance with University policy, these penalties apply when written work is submitted after 11:59pm on the due date:

Deduction of 5% of the maximum mark for each calendar day after the due date.
After ten calendar days late, a mark of zero will be awarded.

Academic integrity

The Current Student website provides information on academic integrity and the resources available to all students. The University expects students and staff to act ethically and honestly and will treat all allegations of academic integrity breaches seriously.

We use similarity detection software to detect potential instances of plagiarism or other forms of academic integrity breach. If such matches indicate evidence of plagiarism or other forms of academic integrity breaches, your teacher is required to report your work for further investigation.

You may only use artificial intelligence and writing assistance tools in assessment tasks if you are permitted to by your unit coordinator, and if you do use them, you must also acknowledge this in your work, either in a footnote or an acknowledgement section.

Studiosity is permitted for postgraduate units unless otherwise indicated by the unit coordinator. The use of this service must be acknowledged in your submission.

Learning support

Simple extensions

If you encounter a problem submitting your work on time, you may be able to apply for an extension of five calendar days through a simple extension.  The application process will be different depending on the type of assessment and extensions cannot be granted for some assessment types like exams.

Special consideration

If exceptional circumstances mean you can’t complete an assessment, you need consideration for a longer period of time, or if you have essential commitments which impact your performance in an assessment, you may be eligible for special consideration or special arrangements.

Special consideration applications will not be affected by a simple extension application.

Using AI responsibly

Co-created with students, AI in Education includes lots of helpful examples of how students use generative AI tools to support their learning. It explains how generative AI works, the different tools available and how to use them responsibly and productively.

Weekly schedule

WK	Topic	Learning activity
Week 01	Introduction: Thought process of an economist	Lecture (2 hr)
Week 02	Economics of Sports	Lecture and tutorial (3 hr)
Week 03	Economics of Discrimination	Lecture and tutorial (3 hr)
Week 04	Economics of Food	Lecture and tutorial (3 hr)
Week 05	Economics of Love	Lecture and tutorial (3 hr)
Week 06	Economics of Altruism	Lecture and tutorial (3 hr)
Week 07	Economics of Crime	Lecture and tutorial (3 hr)
Week 08	In-class Mid-semester test	Lecture (2 hr)
Week 09	Economics of Environment	Lecture and tutorial (3 hr)
Week 10	Economics of Ethics	Lecture and tutorial (3 hr)
Week 11	Economics of Healthcare	Lecture and tutorial (3 hr)
Week 12	Economics of Gambling	Lecture and tutorial (3 hr)
Week 13	Group presentations	Lecture and tutorial (3 hr)

Attendance and class requirements

Attendance: According to Faculty Board Resolutions, students in the Faculty of Arts and Social Sciences are expected to attend 90% of their classes. If you attend less than 50% of classes, regardless of the reasons, you may be referred to the Examiner’s Board. The Examiner’s Board will decide whether you should pass or fail the unit of study if your attendance falls below this threshold.
Lecture recording: All lectures will be recorded and made available to students on Canvas.
Preparation: Students should commit to spend approximately three hours’ preparation time (reading, studying, assignments, etc.) for every hour of scheduled instruction.

Study commitment

Typically, there is a minimum expectation of 1.5-2 hours of student effort per week per credit point for units of study offered over a full semester. For a 6 credit point unit, this equates to roughly 120-150 hours of student effort in total.

Required readings

Refer to the Canvas site and the Reading List for all the required readings in each topic.

Learning outcomes

Learning outcomes are what students know, understand and are able to do on completion of a unit of study. They are aligned with the University's graduate qualities and are assessed as part of the curriculum.

Outcomes
Graduate qualities

At the completion of this unit, you should be able to:

LO1. think like an economist
LO2. apply the economic way of thinking to all aspects of the world they live in
LO3. understand the consequences and implications of public policy discussions and debates
LO4. work productively, collaboratively, and openly in diverse groups and across cultural boundaries.

Graduate qualities

The graduate qualities are the qualities and skills that all University of Sydney graduates must demonstrate on successful completion of an award course. As a future Sydney graduate, the set of qualities have been designed to equip you for the contemporary world.

GQ1	Depth of disciplinary expertise Deep disciplinary expertise is the ability to integrate and rigorously apply knowledge, understanding and skills of a recognised discipline defined by scholarly activity, as well as familiarity with evolving practice of the discipline.
GQ2	Critical thinking and problem solving Critical thinking and problem solving are the questioning of ideas, evidence and assumptions in order to propose and evaluate hypotheses or alternative arguments before formulating a conclusion or a solution to an identified problem.
GQ3	Oral and written communication Effective communication, in both oral and written form, is the clear exchange of meaning in a manner that is appropriate to audience and context.
GQ4	Information and digital literacy Information and digital literacy is the ability to locate, interpret, evaluate, manage, adapt, integrate, create and convey information using appropriate resources, tools and strategies.
GQ5	Inventiveness Generating novel ideas and solutions.
GQ6	Cultural competence Cultural Competence is the ability to actively, ethically, respectfully, and successfully engage across and between cultures. In the Australian context, this includes and celebrates Aboriginal and Torres Strait Islander cultures, knowledge systems, and a mature understanding of contemporary issues.
GQ7	Interdisciplinary effectiveness Interdisciplinary effectiveness is the integration and synthesis of multiple viewpoints and practices, working effectively across disciplinary boundaries.
GQ8	Integrated professional, ethical, and personal identity An integrated professional, ethical and personal identity is understanding the interaction between one’s personal and professional selves in an ethical context.
GQ9	Influence Engaging others in a process, idea or vision.

Outcome map

Learning outcomes	Graduate qualities
Learning outcomes

Responding to student feedback

This section outlines changes made to this unit following staff and student reviews.

Based on previous student feedback, we have modified the assessment structures and the topics to be taught this semester.

Disclaimer

The University reserves the right to amend units of study or no longer offer certain units, including where there are low enrolment numbers.

To help you understand common terms that we use at the University, we offer an online glossary.

Current students

Overview

Overview

Unit details and rules

Teaching staff

Assessment

Assessment

Assessment summary

Assessment criteria

Late submission

Academic integrity

Learning support

Learning support

Simple extensions

Special consideration

Using AI responsibly

Weekly schedule

Weekly schedule

Attendance and class requirements

Study commitment

Required readings

Learning outcomes

Learning outcomes

Graduate qualities

Outcome map

Responding to student feedback

Responding to student feedback

Disclaimer

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