Outline

Overview

The aim of this unit is the development of theoretical and applied skills in economics. It looks at a variety of decisions made by consumers and producers as they interact in the markets for goods and services, and at the different market structures in which consumers and producers operate. A wide range of topics deepens the understanding of the microeconomics of consumer and producer interaction, including the economics of information and choice under uncertainty; industry structures other than monopoly and perfect competition; general equilibrium and economic efficiency; market failure and the role of government.

Unit details and rules

Academic unit	Economics
Credit points	6
Prerequisites ?	ECON1001 or BUSS1040 or ECON1040
Corequisites ?	None
Prohibitions ?	ECON2001 or ECON2901 or ECOS2901
Assumed knowledge ?	None
Available to study abroad and exchange students	Yes

Teaching staff

Coordinator	Huy Vu, huy.vu@sydney.edu.au

Assessment

The census date for this unit availability is 1 September 2025

Details
Criteria

Type	Description	Weight	Due	Length	Use of AI
Written exam ?	Final exam Paper-based exam	50%	Formal exam period	2 hours	AI prohibited
Outcomes assessed:
Out-of-class quiz	Quizzes 4 online quizzes to help students keep up to date with material	16%	Multiple weeks	Throughout the semester	AI allowed
Outcomes assessed:
Contribution	Tutorial attendance & participation Participate in tutorials Weeks 1-13	5%	Ongoing	Throughout the semester	AI allowed
Outcomes assessed:
Out-of-class quiz	Early Feedback Online Quiz 15x multiple-choice questions #earlyfeedbacktask	4%	Week 03 Due date: 22 Aug 2025 at 23:59 Closing date: 22 Aug 2025	Opens Monday 18 August	AI allowed
Outcomes assessed:
Written test ?	In-semester test Multiple-choice and short-answer questions	25%	Week 08 Due date: 27 Sep 2025 at 15:40	1 hour	AI prohibited
Outcomes assessed:
= early feedback task ?

Early feedback task

This unit includes an early feedback task, designed to give you feedback prior to the census date for this unit. Details are provided in the Canvas site and your result will be recorded in your Marks page. It is important that you actively engage with this task so that the University can support you to be successful in this unit.

Assessment summary

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 guide to grades.

Use of generative artificial intelligence (AI)

You can use generative AI tools for open assessments. Restrictions on AI use apply to secure, supervised assessments used to confirm if students have met specific learning outcomes.

Refer to the assessment table above to see if AI is allowed, for assessments in this unit and check Canvas for full instructions on assessment tasks and AI use.

If you use AI, you must always acknowledge it. Misusing AI may lead to a breach of the Academic Integrity Policy.

Visit the Current Students website for more information on AI in assessments, including details on how to acknowledge its use.

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:

No late submission is accepted.

Academic integrity

The University expects students to act ethically and honestly and will treat all allegations of academic integrity breaches seriously.

Our website provides information on academic integrity and the resources available to all students. This includes advice on how to avoid common breaches of academic integrity. Ensure that you have completed the Academic Honesty Education Module (AHEM) which is mandatory for all commencing coursework students

Penalties for serious breaches can significantly impact your studies and your career after graduation. It is important that you speak with your unit coordinator if you need help with completing assessments.

Visit the Current Students website for more information on AI in assessments, including details on how to acknowledge its use.

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.

Support for students

The Support for Students Policy reflects the University’s commitment to supporting students in their academic journey and making the University safe for students. It is important that you read and understand this policy so that you are familiar with the range of support services available to you and understand how to engage with them.

The University uses email as its primary source of communication with students who need support under the Support for Students Policy. Make sure you check your University email regularly and respond to any communications received from the University.

Learning resources and detailed information about weekly assessment and learning activities can be accessed via Canvas. It is essential that you visit your unit of study Canvas site to ensure you are up to date with all of your tasks.

If you are having difficulties completing your studies, or are feeling unsure about your progress, we are here to help. You can access the support services offered by the University at any time:

Support and Services (including health and wellbeing services, financial support and learning support)
Course planning and administration
Meet with an Academic Adviser

Weekly schedule

WK	Topic	Learning activity
Week 01	Budget, Preference and Utility	Lecture (2 hr)
Week 01	Tutorial 1: Introduction and review of important concepts	Tutorial (1 hr)
Week 02	Choice and Demand	Lecture (2 hr)
Week 02	Tutorial 2: Budget, Preference and Utility	Tutorial (1 hr)
Week 03	Comparative Statics (Income Consumption Curves, Price Consumption Curves, Slutsky Decomposition)	Lecture (2 hr)
Week 03	Tutorial 3: Choice and Demand	Tutorial (1 hr)
Week 04	Applications (Taxes, Subsidies, Inter-temporal choice, Labour-leisure choice)	Lecture (2 hr)
Week 04	Tutorial 4: Comparative Statics (Income Consumption Curves, Price Consumption Curves, Slutsky Decomposition)	Tutorial (1 hr)
Week 05	Exchange Economy	Lecture (2 hr)
Week 05	Tutorial 5: Applications (Taxes, Subsidies, Inter-temporal choice, Labour-leisure choice)	Tutorial (1 hr)
Week 06	Choices under Uncertainty, Insurance	Lecture (2 hr)
Week 06	Tutorial 6: Exchange Economy	Tutorial (1 hr)
Week 07	Mid-Term Exam: Revision	Lecture (2 hr)
Week 07	Tutorial 7: Choices under Uncertainty, Insurance	Tutorial (1 hr)
Week 08	Technology and Profit Maximisation	Lecture (2 hr)
Week 09	Costs, short-run behaviour and partial equilibrium	Lecture (2 hr)
Week 09	Tutorial 9: Technology and Profit Maximisation	Tutorial (1 hr)
Week 10	Public Goods and Externalities	Lecture (2 hr)
Week 10	Tutorial 10: Costs, short-run behaviour and partial equilibrium	Tutorial (1 hr)
Week 11	Game theory: static games and oligopoly	Lecture (2 hr)
Week 11	Tutorial 11: Public Goods and Externalities	Tutorial (1 hr)
Week 12	Game theory: sequential games and Stackelberg competition	Lecture (2 hr)
Week 12	Tutorial 12: Game theory - static games and oligopoly	Tutorial (1 hr)
Week 13	Information Asymmetry	Lecture (2 hr)
	Tutorial 13: Game theory - sequential games and Stackelberg competition	Tutorial (1 hr)
	Tutorial 14: Information Asymmetry	Online class (1 hr)

Attendance and class requirements

Regular attendance in lectures is highly recommended for achieving better learning outcomes. It allows students to network with peers and build lifelong friendships. Research indicates that students who regularly attend classes and engage in small study groups achieve better academic results.

Students are expected to attend tutorials as often as possible. Participation in tutorials will help students connect with others and form working groups for group-work assignments.

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

Main textbook:

Hal R. Varian (2024), Intermediate Microeconomics: A Modern Approach, International Student Edition, 10th Edition, W.W. Norton & Co.

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. demonstrate understanding of microeconomic concepts and apply analytical models to describe real-world economic situations
LO4. demonstrate understanding of the limitations of various models, distinguish between competing explanations of market behaviour, and critically evaluate competing theories
LO5. communicate effectively the results of economic analysis and 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

Responding to student feedback

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

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

Additional information

School of Economics Student Portal

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

Early feedback task

Assessment summary

Assessment criteria

Use of generative artificial intelligence (AI)

Late submission

Academic integrity

Learning support

Learning support

Simple extensions

Special consideration

Using AI responsibly

Support for students

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

Additional information

Additional information

Disclaimer

On this page

Useful links

ECOS2001: Intermediate Microeconomics

Semester 2, 2025 [Normal day] - Camperdown/Darlington, Sydney

Overview

Overview

Unit details and rules

Teaching staff

Assessment

Assessment

Early feedback task

Assessment summary

Assessment criteria

Use of generative artificial intelligence (AI)

Late submission

Academic integrity

Learning support

Learning support

Simple extensions

Special consideration

Using AI responsibly

Support for students

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

Additional information

Additional information

Disclaimer

On this page

Useful links