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Unit of study_

ECON6701: Microeconomics Analysis 1 A

This is an introduction to modern microeconomic theory and has three purposes: (i) to introduce students to the major ideas of modern microeconomics and to develop their understanding of these ideas; (ii) to develop students' facility with analytic economic models; and (iii) to develop students' ability to solve economic problems with the ideas, techniques, and models available to professional economists. Topics covered include (i) individual decision-making by economic agents, (ii) the determination of prices and resource allocation in competitive general equilibrium models, (iii) strategic behaviour by firms under imperfect competition, and (iv) contracting with imperfect information.


Academic unit Economics
Unit code ECON6701
Unit name Microeconomics Analysis 1 A
Session, year
Semester 2, 2021
Attendance mode Normal day
Location Camperdown/Darlington, Sydney
Credit points 6

Enrolment rules

Available to study abroad and exchange students


Teaching staff and contact details

Coordinator Murali Agastya,
Tutor(s) Khanh Thi Quoc Phan ,
Type Description Weight Due Length
Final exam (Open book) Type C final exam Final exam
Online exam
45% Formal exam period 2 hours
Outcomes assessed: LO1 LO2 LO3 LO4
Assignment Quiz 1
Online Quiz, further details to be provided on Canvas.
12.5% Week 04 See Canvas for specific details
Outcomes assessed: LO1 LO2 LO3 LO4
In-semester test (Open book) Type C in-semester exam Midterm exam
Online exam
30% Week 07
Due date: 20 Sep 2021 at 18:00
1.5 hours
Outcomes assessed: LO1 LO4 LO3 LO2
Assignment Quiz 2
Details will be announced on Canvas.
12.5% Week 11 Details will be announced on Canvas.
Outcomes assessed: LO1 LO2 LO3 LO4
Type C final exam = Type C final exam ?
Type C in-semester exam = Type C in-semester exam ?

All Assignment tasks involve either solving Problems, Short Answers or MCQ questions.
Assignment specific details are to be provided on Canvas

Assessment criteria



The University awards common result grades, set out in the Coursework Policy 2014 (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


High distinction

85 - 100



75 - 84



65 - 74



50 - 64



0 - 49

When you don’t meet the learning outcomes of the unit to a satisfactory standard.


For more information see

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.

This unit has an exception to the standard University policy or supplementary information has been provided by the unit coordinator. This information is displayed below:

Quiz 1 – failure to submit on time will result in the Quiz weight to be shifted to Midsemester Exam. Quiz 2 – failure to submit on time will result in the Quiz weight to be shifted to the Final Exam. Exams: Students need to apply for Special Consideration formally through the Univers

Special consideration

If you experience short-term circumstances beyond your control, such as illness, injury or misadventure or if you have essential commitments which impact your preparation or performance in an assessment, you may be eligible for special consideration or special arrangements.

Academic integrity

The Current Student website provides information on academic honesty, academic dishonesty, 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 dishonesty or plagiarism seriously.

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

WK Topic Learning activity Learning outcomes
Week 01 Preference and utility Lecture (3 hr)  
Week 02 Budget, choice and revealed preference Lecture (3 hr)  
Week 03 Classical consumer theory 1 Lecture (3 hr)  
Week 04 Classical consumer theory 2 and Uncertainty 1 Lecture (3 hr)  
Week 05 Welfare & Equilibrium in Exchange Economies Lecture (3 hr)  
Week 06 Production and Monotone Comparative Statics Lecture (3 hr)  
Week 08 Choice under Uncertainty Lecture (3 hr)  
Week 09 Game Theory: Static games, Applications to Imperfect competition Lecture (3 hr)  
Week 10 Sequential games: Bargaining, Monopoly Lecture (3 hr)  
Week 11 Repeated Games Lecture (3 hr)  
Week 12 Selected topics in asymmetric information: adverse selection, signaling, moral hazard and Mechanism Design Lecture (3 hr)  
Week 13 ... Continued Lecture (3 hr)  

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

All readings for this unit can be accessed on the Library eReserve link available in the Canvas site for this unit.

Study material is drawn from the following texts amongst other sources.

  • Microeconomic Foundations I: Choice and Competitive Markets by David Kreps.
  • Microeconomic theory by  Andreu Mas-Colell, Michael D. Whinston, and Jerry R. Green.
  • Game Theory for Applied Economists by Robert Gibbons.

Other readings will be prescribed as the course progresses. Check the Canvas website.

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.

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

  • LO1. demonstrate a sound understanding of the structure of major microeconomic models of the decision problems facing individual consumers and firms, and the formal techniques commonly applied to solve them
  • LO2. demonstrate both a formal and intuitive understanding of the results generated by these models, how they relate to underlying assumptions, and how they may change as a result of varying those assumptions
  • LO3. demonstrate a knowledge of the criteria that may be used to evaluate the welfare properties of market allocations, and the conditions under which such allocations may be expected to be efficient
  • LO4. possess a solid foundation for the subsequent application of microeconomic analysis to problems in specialist and applied fields of economics, including in independent research.

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
changes to the assessment structure


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