Econ1101 Course Outline
Econ1101 Course Outline
School of Economics
ECON1101
Microeconomics 1
Course Outline
Semester 1, 2015
Part A: Course-Specific Information
Part B: Key Policies,
Student Responsibilities & Support
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Table of Contents
PART A: COURSE-SPECIFIC INFORMATION
1.1 Staff
1.2 Who to contact?
1.3 Pitstop and PASS
3
3
3
COURSE DETAILS
4
4
4
5
6
6
ASSESSMENT
7
7
8
8
8
9
9
9
10
10
COURSE RESOURCES
10
COURSE SCHEDULE
12
12
13
13
14
10
14
11
16
11.1
11.2
11.3
11.4
11.5
Workload
Attendance
General Conduct and Behaviour
Occupational Health and Safety
Keeping Informed
16
16
16
17
17
12
17
13
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Staff
Lecturers-in-Charge
Dr. Isabella Dobrescu
Room Number: Business School 442B
Phone: 9385 7480
[email protected]
Lecturers
Peter Nichols
Room Number: Business School 464
Phone: 9385 3336
[email protected]
Tutor-in-Charge
Dr. Jonathan Lim
Room Number: Business School 462
Phone: 9385 3371
[email protected]
1.2
Who to contact?
For general enquiries relating to your program or enrolment in the course or tutorials,
you should contact your Program Authority (for Business School students, this is the
Student Centre in Quad 1028). For specific questions about economics courses in your
program, please contact Laura Castrique at <[email protected]>.
For technical enquires relating to your UNSW logins or Moodle access you should
contact the UNSW IT Service Centre on 9385 1333. For issues relating to access to
course content, you should contact Trish Cann at <[email protected]>.
Contact the Tutor-in-Charge about academic matters such as in-semester marks.
Contact your Lecturer about academic matters such as supplementary tests/exams.
Note that all enquiries about the subject material should be made at lectures,
tutorials or during consultation time. Discussion of course subject material will
not be entered into via lengthy emails.
1.3
In the weeks leading up to exams, starting from about Week 12, the School will be
providing Pitstop, an opportunity for consultation with tutors as you prepare for exams.
Details of Pitstop locations and hours for this course will be advised closer to the time.
PASS (the Peer Assisted Support Scheme) is a system of voluntary study groups
available to ECON1101 students. The groups are each led by senior students and are
an opportunity to practice problems, develop study methods, ask questions, and
consolidate your knowledge in a friendly informal environment. The PASS sessions will
start in Week 3 and the timetable will be available from the Course Website in Week 2.
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2 COURSE DETAILS
2.1
Lectures start in Week 1 and end in Week 12. The lecture times and locations are:
LECTURE
STREAM
DAY
LOCATION
TIME
Monday
1:00 2:00pm
Wednesday
9:00 10:00am
Tuesday
9:00 10:00am
Thursday
10:00 11:00am
Wednesday
1:00 2:00pm
Friday
11:00 12:00pm
Tuesday
2:00 4:00pm
Science Theatre
G09
Thursday
6:00 8:00pm
Keith Burrows
Theatre G5
LECTURER
Science Theatre
G09
Dr. A. Motta
Science Theatre
G09
Dr. I. Dobrescu
Central Lecture
Block 7 104
Dr. A. Motta
Dr. I. Dobrescu
P. Nichols
Tutorials start in Week 2 and end in Week 13. Answers to the Revision Questions will
be posted on the Course website in the week following their discussion in tutorials.
Units of Credit
The course is worth 6 units of credit.
2.2
Summary of Course
In order to understand the workings of markets and the economy, one has to take on
an economic mindset. This introductory course covers the fundamental principles that
economists use to understand and analyse economic behaviour. Understanding these
basic principles equips students for further studies in economics and business. Topics
and issues covered in this course include how individuals or firms make decisions
about the demand or supply of a particular product, how we can judge the relative
efficiency of different types of markets, how we explain why governments may need to
intervene in a particular type of market but not in others, and how some government
policies are more efficient than others.
2.3
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ECON1101 Microeconomics 1 is a core requirement for all students in the B.Com and
B.Ec programs. Additionally, ECON1101 is a prerequisite for ECON1102
Macroeconomics 1 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.
2.4
The Course Learning Outcomes are what you should be able to DO by the end of this
course if you participate fully in learning activities and successfully complete the
assessment items.
The Learning Outcomes in this course also help you to achieve some of the overall
Program Learning Goals and Outcomes for all undergraduate coursework students in
the Business School. Program Learning Goals are what we want you to BE or HAVE
by the time you successfully complete your degree. You demonstrate this by achieving
specific Program Learning Outcomes - what you are able to DO by the end of your
degree. For more information on the Undergraduate Program Learning Goals and
Outcomes, see Part B of the course outline.
The following table shows how your Course Learning Outcomes relate to the overall
Program Learning Goals and Outcomes, and indicates where these are assessed:
Program Learning
Goals and Outcomes
This course helps you to
achieve the following
learning goals
Course Assessment
Item
This learning outcome
will be assessed in the
following items:
Written
communication
Oral
communication
Teamwork
5a.
Ethical,
environmental &
sustainability
considerations
Playconomics
In-Class Tests
Final Exam
5b.
Social and
cultural
awareness
Playconomics
Knowledge
1
3a
3b
4
Critical thinking
and problem
solving
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Playconomics
Revision Problems
In-Class Tests
Final Exam
Playconomics
Revision Problems
In-Class Tests
Final Exam
In-Class Tests
Not specifically
assessed.
Not specifically
assessed.
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.
3.2
The examinable content of the course is defined by the Text references given in the
Course Schedule, the content of Lectures and Tutorials, and any additional material
provided by the Lecturer-in-Charge.
Students will be taught the core principles of economics and given practice at
applying these principles to everyday problems. The aim is to teach students to think
like an economist, whether it is in everyday or workplace situations.
Lectures
The purpose of the Lectures is 1) to provide a logical structure for the topics that make
up the course, 2) to emphasize the important concepts and methods of each topic, and
3) to provide relevant examples to which the concepts and methods are applied.
Tutorials
The purpose of Tutorials is primarily to provide an opportunity for small group
discussion of the issues to which economic concepts and methods can be applied.
They also provide practice in writing and give feedback on answers to specific Revision
Questions. Students will be provided with an opportunity to present their answers to
the questions in class.
Students should attempt the set of weekly Revision Questions before each tutorial.
These questions will be indicated on the course website each week, with the
corresponding solutions posted the following week.
In the tutorials it is expected that the tutor will address only those questions that
students find particularly difficult. Thus not all the Revision Questions will be covered
during tutorials. Questions that are not covered in the tutorials can be attempted in
PASS (see Section 6.2 below) or posted on the Discussion forum of the course
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 textbook and playing a videogame
(Playconomics), as well as accessing the lecture overheads from the course
website before the lecture. This will give you a general idea of the topic area.
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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
topics will be explained.
3. Attending Tutorials, attempting the set of Revision Questions and 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 weeks Tutorial.
4. Attending PASS to work with other students in the course.
4 ASSESSMENT
4.1
Formal Requirements
4.2
Assessment Structure
Assessment
% of Total Marks
for the Course
10
20
20
50
4 bonus points
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4.3
The Revision Questions are located at the end of each chapter of the textbook (see
Section 6 on Course Resources). Each week, a subset of questions will be solved
during the tutorial. In selected weeks students are required to submit to their tutor a
typed answer to one or two of the Revision Questions for that week. The questions for
which a written answer is required will be clearly indicated on the course website.
During the semester, TWO of the three submitted answers (selected at random)
will be graded and each will be given a mark out of 5, for a total of 10 marks in
the overall course marks.
Answers must be typed and submitted at the beginning of the tutorial to the tutor. Any
diagrams may be hand drawn. Tutors will not accept electronic versions of these
questions nor will they be accepted at any other time/place than in the tutorial.
4.4
In Week 6 tutorial each student will be required to answer one question in writing. The
answer will be worth 20 of the total marks for the course.
Each class may have a different question set. The test will last 30 minutes and will
cover topics from Week 1 lectures to Week 3 lectures (refer to the Course Schedule),
regardless of whether the material has been discussed in tutorials. The format of this
test will be a question requiring a written answer and/or a numerical problem and/or a
diagram. Every student must attempt this test in the tutorial group to which they
have been allocated.
Students who fail to attend the test should contact first the Tutor-in-Charge. In cases of
serious illness, students will need full and convincing documentation of that illness and
should apply for Special Consideration. Students who are found to be genuinely too ill
to have attended the in-class test will be required to sit a supplementary test in Week
13. You should make every effort to take this assessment task. In all other cases of
non-attendance students will receive a mark of zero.
Applications for Special Consideration for this assessment item must be lodged online
through myUNSW within 5 working days of the assessment (Log into myUNSW and go
to My Student Profile tab > My Student Services channel > Online Services > Special
Consideration). Then submit the originals or certified copies of your completed
Professional Authority form (pdf - download here) and any supporting documentation to
Student Central.
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.
4.5
In Week 10 tutorial each student will be required to answer one question in writing. The
answer will be worth 20 of the total marks for the course.
Each class may have a different question set. The test will last 30 minutes and will
cover topics from Week 1 lectures to Week 8 lectures (refer to the Course Schedule),
regardless of whether the material has been discussed in tutorials. The format of this
test will be a question requiring a written answer and/or a numerical problem and/or a
diagram. Every student must attempt this test in the tutorial group to which they
have been allocated.
Students who fail to attend the test should contact first the Tutor-in-Charge. In cases of
serious illness, students will need full and convincing documentation of that illness and
should apply for Special Consideration. Students who are found to be genuinely too ill
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to have attended the in-class test will be required to sit a supplementary test in Week
13. You should make every effort to take this assessment task. In all other cases of
non-attendance students will receive a mark of zero.
Applications for Special Consideration for this assessment item must be lodged online
through myUNSW within 5 working days of the assessment (Log into myUNSW and go
to My Student Profile tab > My Student Services channel > Online Services > Special
Consideration). Then submit the originals or certified copies of your completed
Professional Authority form (pdf - download here) and any supporting documentation to
Student Central.
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.
4.6
The final exam is worth 50 per cent of total marks for the course. This exam
consists of 50 multiple-choice questions. It will be conducted in the University
examination period. The final exam timetable will be published by the UNSW
Examination Branch.
4.7
Playconomics
4.8
Tutorial Participation
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attendance. Signing on for another student will be treated as misconduct. 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. This attendance will not be
recorded and is purely to prevent you from missing important 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.
4.9
Quality Assurance
The Business School 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 Business School programs. All material used for such processes will be
treated as confidential and will not be related to course grades.
6 COURSE RESOURCES
The Website for this course is on UNSW Moodle at http://moodle.telt.unsw.edu.au
The website contains copies of Course hand-outs, including the Course Outline,
Lecture Slides, answers to the Revision Questions, and Course Announcements.
On the website students will also find a link to playconomics.com. This is the website
through which students can gain access to Playconomics.
Students should consult the course 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.
Playconomics is a comprehensive, state-of-the-art software developed by Dr. L.I.
Dobrescu and Dr. A Motta @UNSW. It comes in 2 versions:
The Demo version of Playconomics contains a demo of the game and of the
educational videos, as well as a free pdf of the complete Textbook (with Revision
Questions).
The Complete version of Playconomics contains all levels of the game, the complete
Textbook and all the educational videos directly integrated in the Textbook (with
Revision Questions). Details on how to access Playconomics are provided below.
The textbook for this course is:
Motta, A., Dobrescu, L.I., Faravelli, M., McWhinnie, S. (2015) Principles of
Microeconomics (1st ed.), ebook (retrieved from www.playconomics.com)
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This textbook has been especially created for this course. The examinable content of
the textbook is defined in the Course Schedule, and includes all end of the chapter
Revision Questions. Details on how to access the Textbook are provided below
To access Playconomics (and the Textbook) go to www.playconomics.com and sign
up under Create a new account. From your account you will be able to download the
Demo version of Playconomics, as well as purchase the Complete version. The
Complete version will give you access to the textbook (including the Revision
Questions), to all educational videos and to the complete game.
For any technical issues, please email [email protected].
Optional readings:
Frank, R. H., Jennings, S. & Bernanke, B.S., (2012), Principles of Microeconomics,
(3rd ed.), McGraw-Hill International Book Co., Sydney.
Bajada, C., Jackson, J. McIver, R. Wilson, E., (2012), Microeconomics, (3th Ed.),
McGraw-Hill International Book Co., Sydney.
Students who would like to improve their professional writing ability may consult:
Faigley, F. (2011), The Little Penguin Handbook, (Australasian ed.) Pearson, Australia.
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7 COURSE SCHEDULE
7.1
Lectures start in Week 1 and finish in Week 12. Tutorials start in Week 2 and finish in Week 13.
LECTURE SCHEDULE
Week
Topic
Reference
Week 2
9 March
Introduction/Administration
Ch. 1
Comparative Advantage
and the Basis for Trade
Comparative Advantage
Ch. 1
and the Basis for Trade
Week 3
16 March
Supply in Perfectly
Competitive Markets
Week 4
23 March
Week 5
30 March
Demand in Perfectly
Competitive Markets
Demand & Supply: An
Equilibrium Analysis
Week 1
2 March
Ch. 2
Ch. 3
Ch. 4
TUTORIAL SCHEDULE
Topic
Assessment
Comparative Advantage
Comparative Advantage
Hand-in Revision
Questions
(covers W1-2)
Supply in Perfectly
Competitive Markets
Demand in Perfectly
Competitive Markets
Demand in Perfectly
Competitive Markets
Demand & Supply: An
Equilibrium Analysis
In-Class Test
(covers W1-3)
Government Intervention:
The Cost of Interfering
with Market Forces
International Trade
Ch. 5
CH. 6
Hand-in Revision
Questions
(covers W3-6)
Week 8
27 April
Ch. 7
Government Intervention
International Trade
Week 9
4 May
Ch. 8
Week 10
11 May
Externalities
Ch. 9
Week 11
18 May
Public Goods
Ch. 10
Externalities
Week 6
13 April
Week 7
20 April
Week 12
25 May
REVISION
Week 13
1 June
NO LECTURES
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Public Goods
REVISION
In-Class Test
(covers W1-8)
Hand-in Revision
Questions
(covers W9-11)
Supplementary
Tests W6 & W10
12
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If you attend the regular final exam, you are extremely unlikely to be granted a
supplementary exam. Hence if you are too ill to perform up to your normal standard in
the regular final exam, you are strongly advised not to attend the final and apply for a
supplementary instead. However, granting of a supplementary exam in such cases is
not automatic. You would still need to satisfy the criteria stated above.
The Business Schools Special Consideration and Supplementary Examination Policy
and Procedures for Final Exams for Undergraduate Courses is available at:
www.business.unsw.edu.au/StudentsSite/Documents/supplementary_exam_procedures.pdf.
Special consideration and assessments other than the Final exam:
For the application of special consideration to assessment items other than the final
exam, refer to the specific policies outlined in the Course Outline Part A for that
assessment item.
11.1 Workload
It is expected that you will spend at least nine to ten hours per week studying each
course. This time should be made up of reading, research, working on exercises and
problems, online activities 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.
We strongly encourage you to connect with your Moodle course websites in the first
week of semester. Local and international research indicates that students who
engage early and often with their course website are more likely to pass their course.
Information on expected workload can be found at: https://student.unsw.edu.au/uoc
11.2 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. For more information, see:
https://student.unsw.edu.au/attendance
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students may be asked to leave the class. More information on student conduct is
available at: https://student.unsw.edu.au/conduct
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who have a disability or disadvantage that interferes with their learning. Office:
Ground Floor, John Goodsell Building; Phone: 9385 4734; Email:
[email protected]
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