SCHOOL OF ECONOMICS
ECON 1101 MICROECONOMICS 1
SESSION 2, 2006
COURSE INFORMATION AND LECTURE SCHEDULE
Lecturer in Charge:
John Lodewijks
Room JG218
Tel:93853386
Tutorial Administrator:
Ernie Teo
Room JG 132
Tel:93851346
Microeconomics 1 Website
CONTENTS page
1. Teaching Staff2
2. Information about the course
2.1Units of Credit and Class Hours2
2.2 LECTURE TIMES AND LOCATIONS2
2.3 TUTORIAL GROUP ALLOCATIONS3
2.4 Relationship of this course to other courses 3
2.5 Approach to Learning and Teaching3
3. Course Aims and Outcomes
3.1 Course Aims3
3.2 Student Learning Outcomes4
3.3 Teaching and learning Strategies4
4. Student responsibilities and conduct
4.1 Workload7
4.2 Attendance7
4.3 General Conduct and Behaviour7
4.4 Keeping informed8
5. Assessment
5.1 Formal Requirements8
5.2 Assessment Details8
5.3 Special Consideration and Supplementary examS29
6. Academic Honesty and Plagiarism29
7. Student Resources
7.1 COURSEWEBSITE30
7.2 TEXTBOOK AND READINGS 31
7.3 PEER ASSISTANCE SUPPORT SCHEME32
7.4Other Resources, Support and Information32
8. Continual Course Improvement33
9. Lecture Schedule33
1. Teaching Staff
The Lecturer is John Lodewijks (JG RM 218; Ph. 9385 3386, email: ). He is responsible for the overall direction and content of the course.
The Tutorial Administrator is Ernie Teo (JG Rm 132; Ph. 9385 1346, email: ). Any questions regarding your allocation to a tutorial group should be directed to Ernie.
Information concerning administrative matters may also be obtained from the School of Economics Office on the second floor of the JohnGoodsellBuilding (JG 223 Ph. 9385 3335).
You should feel free to approach your lecturer about any academic matter. Specific consultation hours will be posted on the course website, in WebCT Vista ( The quickest way to contact John is via email: .
2. Information about the course
2.1 Units of Credit and Class Hours
This courseis worth 6 units of credit.
There are 2 x 1 hour lectures per week and 1 x 1hour tutorial class for each student.
2.2 LECTURETIMES AND LOCATIONS
DayTimeLocation
Group A Monday1200 – 1300Rex Vowels
Thursday1300 – 1400Webster Th.A
Group BMonday1500 – 1700Mat. B
2.3 TUTORIAL GROUP ALLOCATIONS
Tutorials start in week 2. Students enrol via their MyUNSW site. Once enrolled, moving from one tutorial group to another will not be permitted unless you have compelling reasons. You should consult Ernieabout these matters. The Tutorial Program of Topics Readings and Questions is provided in a separate handout.
2.4Relationship of this course to other courses
This course is a core requirement for the B.Com and B.Ec. It is a prerequisite for many other courses in the Faculty, including ECON1102 Macroeconomics I and all courses in the School of Economics with a course code number beginning in 2 or 3. Introductory microeconomics provides the foundation for all further study in economics, finance, accounting, organisation and management, marketing and actuarial studies.
2.5Approach to Learning and Teaching
The philosophy underpinning this course and its Teaching and Learning Strategies (see 3.3 below ) are based on “Guidelines on Learning that Inform Teaching at UNSW”. These guidelines may be viewed at :
For students who care about how the world works, microeconomics should be one of the most relevant and exciting courses they study. Yet many students view microeconomics as abstract theory and fail to understand how it relates to actual decisions made by firms, consumers and governments. It is therefore essential that students apply microeconomic logic to practical problems – studying the theory is simply not enough.
3. Course Aims and Outcomes
3.1 Course Aims
The aim of this course is to provide an introduction to microeconomic analysis. This means that ECON1101 is an introductory course in the theory of markets with relevant applications to business, social and individual issues.
The course covers the principles and consequences of constrained “rational” choice by individual economic agents in markets. The course also provides introductory analysis of the role of governments in seeking to ensure the efficient and equitable operation of markets.
No Previous study of Economics is assumed
3.2Student Learning Outcomes
On completion of the course, students should be able to:
- demonstrate an understanding of economic concepts and their appropriate use;
- construct economic arguments in terms of these concepts; and
- apply simple economic models to the analysis of relevant economic issues.
- present logical economic argument in both written and oral form; including the
- use of economic reasoning to make deductions about market behaviour: and
- perform simple calculations of costs and benefits
The course aims to provide benefits to students in terms of:
- the ability to use economic principles in ‘rational’ decision-making under a variety of constraints;
- an understanding of the different market environments in which management, social, and individual business decisions must be made; and
- an understanding of justifications for, and likely effects of, Government
microeconomic policy
3.3 Teaching and learning Strategies
The Lectures
The purpose of lectures is to provide a logical structure for the topics that make up the course; to emphasise the important concepts and methods of each topic, and to provide relevant examples to which the concepts and methods are applied.
The Tutorials
The purpose of tutorial meetings is primarily to provide an opportunity for small group discussion of issues to which economic concepts and methods can be applied, and to provide practice and feedback in writing short essays addressing specific questions. (The Discussion Questions).
A Tutorial Program of Discussion Questions is provided for tutorial meetings. Students should attempt each set of weekly exercises and later check the solutions on the course website. If time permits, tutorials may also provide an opportunity for assistancewith other questions that provide difficulties for students.
In Week 10Tutorials we play the Oligopoly Game. This is an activity that is interesting and challenging, but which also create opportunities for students to have fun, and so can enhance the learning experience.
Self-study
It is important to note that most learning will be achieved outside of class time. This course has been designed with the expectation that students will prepare for, attend and participate in class as well as review material after classes. It is expected that students will spent an average of seven hours per week in self or group study for this course. Lectures can only provide a structure to assist your study, and tutorialsprovide an opportunity to follow up and discuss issues. Neither the lecture nor the tutorial will be of any benefit unless you have undertaken the self study required in the course.
Electronic Resources & FEEDBACK
We will be using the course website, in WebCT Vista ( to conduct a number of quizzes and other exercises. Information literacy is a key learning objective and so there is a quiz related to that. Getting speedy and effective feedback on your progress throughout the course is another important feature of this course. Students need to know how they are performing, well before important assessment tasks, and to discover any weaknesses that require remedy. A number of the on-line quizzes relate to giving students timely feedback. Relating the economic theory to simulated real world markets to make it come alive is another feature of the on-line resources we will use in this course.
Students may also access the Study Guide that accompanies the text. We will NOTbe using this in lectures or tutorials and the material therein is not examinable. However, some students in the past have found it useful to go through the material in the Study Guide, especially if they are new to the study of Economics.
Students also have access to MyEconLabwhen they purchase the text. The Course ID is: lodewijks49442
Go to
EconLab helps you to prepare for exams and quizzes, goes over the text chapter materials and assists with the graphs.
Suggested weekly study structure
- Self study/preparation for the lecture
Read the relevant chapter(s) of the text and downloadthe lecture overheads from the coursewebsite before the lecture. This will give you a general idea of the topic area. Complete any assessment tasks due during the week.
- Attend the lecture
Here the context of the topic in the course and the important elements of the topic are identified. The relevance of the topic should be explained.
- Self study – Lecture review/tutorial preparation
Prepare answers for the Discussion Questions.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 week’s tutorial.
- Attend and participate inTutorials
In the week of your assigned Discussion Question (see below) you will be required to present a short (5 - 10 minute) summary of your answer as the basis for discussion by the rest of the class. You are required to submit your answer, written as a short essay (500 - 1000 words), to your tutor for assessment in the following week’s tutorial. There is an opportunity to do a group presentation (see page 11).
In other weeks you should still prepare rough answers to the Discussion Questions so that you can contribute to the discussion. The Discussion Questions are your best preparation for writing essay-type exam answers (see final exam).
- Seek help if you need it
Since the tutorial time is limited, problems may also be addressed by consulting with your tutor or lecturer in their consultation hours, or with the PITSTOP tutors or at the PASS meetings (see below).
4.Student responsibilities and conduct
4.1 Workload
It is expected that you will spend at least ten hours per week studying this course. This time should be made up of reading, research, working on exercises and problems, and attending classes. In periods where you need to prepare for a Tutorial Presentation or an examination, 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.
4.2 Attendance
Your regular and punctual attendance at lectures and tutorials is expected in this course. University regulations indicate that if students attend less than eighty per cent of scheduled classes they may be refused final assessment.We would appreciate punctual attendance in both lectures and tutorials.
4.3 General Conduct and Behaviour IN LECTURES/TUTORIALS
You are expected to conduct yourself with consideration and respect for the needs of your fellow students and teaching staff. Conduct which unduly disrupts or interferes with a class, such as using mobile phones, is not acceptable and students may be asked to leave the class. More information on student conduct is available at:
4.4 Keeping informed
You should take note of all announcements made in lectures, tutorials or on the course web site. In particular you should check “Announcements” on the course elearning site at least once a week. From time to time, the University will send important announcements to your university e-mail address without providing you with a paper copy. You will be deemed to have received this information. So check your student email account regularly.
Note that you must ensure that you are correctly enrolled. The last day to discontinue without financial penalty is August 31 and the last day to discontinue without academic penalty is September 15. The final examinations period falls between 10 November and 28 November.
October:
Tuesday / 3 / Publication of the provisional timetable for the November examinationsWednesday / 11 / Last day for students to advise of examination clashes
Tuesday / 24 / Publication of the Final Timetable for the November examinations
5. Assessment
5.1 Formal Requirements
In order to pass this course, you must:
achieve a composite mark of at least 50; and
make a satisfactory attempt at all assessmenttasks (see below)
5.2Assessment Details
The examinable content of the course is defined by the Text references given in the Lecture Schedule, the content of Lectures, the content of the Tutorial Program and the material/quizzes in the course website, in WebCT Vista.
Students learn in different ways and their learning can be better supported by the use of multiple teaching methods, modes of instruction and assessment tasks.
There are Eight (8) Assessment Tasks in this course and students need to complete them at a Satisfactory Level. “Satisfactory’ is determined by the Lecturer and varies depending on the particular task.
AssessmentTask 1 - Information Literacy Quiz
Due: Weeks 1-2 of session
How: Via the Microeconomics 1 website at
Grading: Satisfactory/Unsatisfactory
Learning Outcomes: Ability to search library databases, retrieve and comprehend information. Effective learning is supported by a climate of inquiry where students feel appropriately challenged and activities are linked to research and scholarship.
AssessmentTask 2– Feedback Quiz A
Due: Week 4
How: Via the Microeconomics 1 website at
Grading: Satisfactory/Unsatisfactory
Learning Outcomes: Assimilate and understand course materials covering the first 3 weeks of class. Demonstrate an understanding of basic economic conceptsand the competitive market model. Identify weaknesses in understanding and undertake remedial activities. Identify and prepare for likely exam questions.
AssessmentTask 3 - Tutorial Assessment
Due: Weeks 3-14
How: In the first tutorial (week 2), each student will be allocated a Discussion Question. Students are required to present their answer to their set Discussion Question in the relevant tutorial. You will be required to hand-in a written copy of your answer to your tutor in the following tutorial. This will allow you to incorporate any useful comments from the class discussion. The presentation is to be concise and to last 5 - 10 minutes. The written answer is to be between 500 - 1000 words. Students who do not present AND hand-in their discussion question will be given a mark of ZERO for this component of the assessment.
While only one student is required to present each allocated Discussion Question, all students should come to tutorials prepared to participate in the class discussion.
All students will be expected to contribute to the discussion of any unallocated questions.
We do recognize that learning cooperatively with peers may help students to develop interpersonal, professional, and cognitive skills to a higher level. As such, you also have the option of a group presentation. A group is defined as two students. You can then share the work of the presentation and the written answer. However, since there are two of you, the presentation should be at least 10 - 20 minutes and the written answer 1000 - 2000 words. You will each get the same mark. Pick your partners wisely (this has general application) as we will be unsympathetic to cries of “I did all the work and the other bloke bludged!” We will explore this issue more formally when we consider the free-rider problem.
Grading:The Tutorial Assessment mark (10% of the total mark) will be awarded on the basis of the submitted written answer to your allocated question and your presentation.
Learning objective: The purpose of this assessment is to test knowledge of concepts, their application to practical problems and the ability to present logical economic argument in both written and oral form.
AssessmentTask 4 - Feedback Quiz B
Due: Week 7
How: Via the Microeconomics 1 website at
Grading: Satisfactory/Unsatisfactory
Learning Outcomes: Assimilate and understand course materials covering weeks 4-7 of class. Demonstrate an understanding of supply and demand applications, costs of production and perfect competition.. Identify weaknesses in understanding and undertake remedial activities. Identify and prepare for likely exam questions.
AssessmentTask 5 – Mid-Session Examination
When: Week 8 – Friday, 15 September – 11.30 am – 1.00 pm.
Where: At the AJC Randwick Racecourse.
Grading: 30% of total mark.
Learning Outcomes:The purpose of this assessment is to test knowledge of concepts, the ability to use economic reasoning to make deductions, and to perform simple calculations of costs and benefits. It tests higher-order thinking skills such as analysis, synthesis, and evaluation.
The exam will cover materials covered in the first seven weeks of classes – lectures and tutorials - and will consist of multiple-choice questions covering chapters 1-11 of the textbook.
Note: There will be NO supplementary exam offered for the Mid-Session Examination. Students who fail to attend the Mid-session Examination will need to apply for Special Consideration. Special Consideration applications must be made within 3 days of the Exam through NewsouthQ in the Chancellery and NOT through the lecturer-in-charge or Course Administrator (you should advise the Lecturer-in-Charge via email that you have made an application). You will need to provide full documentation of the reason for the absence (eg, illness). Employment obligations of any kind are not acceptable reasons for absence from any test/examination. Those students whose request is granted for Special Consideration for the mid-session examination, will have their final mark re-weighted according to the weight of the missed piece of assessment.
AssessmentTask 6 - Interactive Experiments
Due: Throughout the session
How: Via the Microeconomics 1 website at
Grading: Satisfactory/Unsatisfactory
Learning Objectives: Effective learning is supported when students are actively engaged in the learning process.
AssessmentTask 7 - Feedback Quiz C
Due: Week 12
How: Via the Microeconomics 1 website at
Grading: Satisfactory/Unsatisfactory
Learning Outcomes: Assimilate and understand course materials covering weeks 9-11 of class. Demonstrate an understanding of imperfect competition and some of its consequences, including the income distribution effects. Identify weaknesses in understanding and undertake remedial activities. Identify and prepare for likely exam questions.
AssessmentTask 8 – Final Exam
When: During the final exam period. The School of Economics does not schedule the final exam – so please don’t ask us when it will be – the Examinations Branch of the University schedules the exam during the final exam period.
Itwill be 2 hours long. The final exam will cover the entire course. The format of the examination will be:
Part A is 20 MC questions. The MC questions come mainly from the textbook chapters 12-19. 20 MC questions worth 1 mark each = 20%.