ECOS2001: Semester 2, 2020

Current students

Units ECOS2001 Semester 2 2020 [Normal day]

During 2021 we will continue to support students who need to study remotely due to the ongoing impacts of COVID-19 and travel restrictions. Make sure you check the location code when selecting a unit outline or choosing your units of study in Sydney Student. Find out more about what these codes mean. Both remote and on-campus locations have the same learning activities and assessments, however teaching staff may vary. More information about face-to-face teaching and assessment arrangements for each unit will be provided on Canvas.

Unit of study_

ECOS2001: Intermediate Microeconomics

Overview

The aim of Intermediate Microeconomics is the development of theoretical and applied skills in economics. It covers applications and extensions of the theory of consumer choice, firm behaviour and market structure. Emphasis is given to the economics of information and choice under uncertainty; industry structures other than monopoly and perfect competition; markets for factors of production; general equilibrium and economic efficiency; market failure and the role of government. This unit provides a basis for the more specialised options that comprise third year economics.

Details

Academic unit	Economics
Unit code	ECOS2001
Unit name	Intermediate Microeconomics
Session, year ?	Semester 2, 2020
Attendance mode	Normal day
Location	Camperdown/Darlington, Sydney
Credit points	6

Enrolment rules

Prohibitions ?	ECON2001 or ECON2901 or ECOS2901
Prerequisites ?	ECON1001 or BUSS1040 or ECON1040
Corequisites ?	None
Available to study abroad and exchange students	Yes

Teaching staff and contact details

Coordinator	Guy Mayraz, guy.mayraz@sydney.edu.au

Type	Description	Weight	Due	Length
Final exam (Record+)	Final Exam n/a	55%	Formal exam period	2 hours
Final exam (Record+)	Outcomes assessed:
Tutorial quiz	Online Quiz 1 n/a	5%	Week 04	n/a
Tutorial quiz	Outcomes assessed:
Tutorial quiz	Online Quiz 2 n/a	5%	Week 06	n/a
Tutorial quiz	Outcomes assessed:
In-semester test (Record+)	Mid-semester exam n/a	25%	Week 07 Due date: 13 Oct 2020	50 minutes
In-semester test (Record+)	Outcomes assessed:
Tutorial quiz	Online Quiz 3 n/a	5%	Week 09	n/a
Tutorial quiz	Outcomes assessed:
Tutorial quiz	Online Quiz 4 n/a	5%	Week 11	n/a
Tutorial quiz	Outcomes assessed:
= Type B final exam ? = Type B in-semester exam ?

Detailed information for each assessment will be provided through 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	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

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.

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.

Weekly schedule

WK	Topic	Learning activity
Week 01	Budget Constraint, Preferences, Marginal Rate of Substitution	Lecture and tutorial (3 hr)
Week 02	Utility, Choice, Demand	Lecture and tutorial (3 hr)
Week 03	Comparative Statics, Market Demand	Lecture and tutorial (3 hr)
Week 04	Intertemporal Choice, Uncertainty	Lecture and tutorial (3 hr)
Week 05	Market Equilibrium, Welfare Theorems	Lecture and tutorial (3 hr)
Week 06	Technology, Profit Maximisation, Cost Minimisation	Lecture and tutorial (3 hr)
Week 07	Cost Curves, Firm Supply	Lecture and tutorial (3 hr)
Week 08	Industry Supply	Lecture and tutorial (3 hr)
Week 09	Monopoly	Lecture and tutorial (3 hr)
Week 10	Oligopoly	Lecture and tutorial (3 hr)
Week 11	Game Theory	Lecture and tutorial (3 hr)
Week 12	Asymmetric Information	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: Most lectures (in recording-equipped venues) will be recorded and may be made available to students on the LMS. However, you should not rely on lecture recording to substitute your classroom learning experience.
Preparation: Students should commit to spend approximately three hours’ preparation time (reading, studying, homework, essays, 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.

Prescribed readings

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

Required textbook: Hal R. Varian (2014), Intermediate Microeconomics, 9th edition, W.W. Norton & Co. New York.

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. demonstrate familiarity with the main microeconomic models describing consumer choice and firm behaviour
LO2. identify the likely outcome arising from the interaction of firms and consumers
LO3. understand microeconomic concepts and apply analytical models to describe “real world” economic situations
LO4. understand the limitations of various models, distinguish between competing explanations of market behaviour and critically evaluate competing theories
LO5. intellectually participate in public policy discussions arising in business and government environments.

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

Closing the loop

No changes have been made since this unit was last offered.

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