Course coordinator
Dr Carlos Oyarzun
Course overview
- Study period
- Semester 1, 2025 (24/02/2025 - 21/06/2025)
- Study level
- Undergraduate
- Location
- St Lucia
- Attendance mode
- In Person
- Units
- 2
- Administrative campus
- St Lucia
- Coordinating unit
- Economics School
This course further enhances critical thinking of students around topics that cover theories of the firm, partial and general equilibrium of markets, and production and cost analysis. These tools will equip students with a deeper understanding of the functioning of markets and institutions and the behaviour of economic agents, as well as of the implications for policy makers and managers.
Basic microeconomic theory lays the foundation to many analytical frameworks in economics. This course provides students with an in-depth understanding of consumer and producer theory in microeconomics, thereby equipping them with the concepts and tools for higher level courses in economics. The course will mainly be theoretical.ﾠApplications will be introduced in the practice problems.
Course requirements
Assumed background
It is assumed that students will have previously covered material in the areas of both macroeconomics and microeconomics at the introductory level. Students shouldﾠ be aware that ﾠalgebra andﾠcalculus will be used in the course. Completion of ECON1050 Tools of Economic Analysisﾠ(or equivalent) is recommended before enrolling in this course.ﾠ
Prerequisites
You'll need to complete the following courses before enrolling in this one:
ECON1010 or 1011
Recommended prerequisites
We recommend completing the following courses before enrolling in this one:
ECON1050
Incompatible
You can't enrol in this course if you've already completed the following:
ECON2011
Restrictions
Not to be studied by BAdvBus(Hons) and BAdvFinEcon(Hons) students
Course contact
School enquiries
School Enquiries, School of Economics
All enquiries regarding student and academic administration (i.e. non-course content information, e.g., class allocation, timetables, extension to assessment due date, etc.) should be directed toﾠenquiries@economics.uq.edu.au.ﾠ
Enquiries relating specifically to course content should be directed to the Course Coordinator/Lecturer.
Course staff
Lecturer
Dr Carlos Oyarzun
Tutor
Mr Theo Jeong
Mr Peleg Kark-Levin
Mr Kirtan Jamnadas
Timetable
The timetable for this course is available on the UQ Public Timetable.
Additional timetable information
Lectures commence in Week 1.
Tutorials commence in Week 1.
Please see the Learning Activities section of this Course Profile for the timetabling implications of public holidays.
Important Dates:
· Public Holidays: Fri 18 April (Good Friday), Mon 5ﾠMay (Labour Day).
· Mid-Semester Break: 21ﾠApril - 25ﾠApril. Semester 1 classes recommence on Mon 28ﾠApril.
Students should refer to the timetable prior to the commencement of classes to ensure that they have the most up to date information, as from time to time late room changes may occur.
Aims and outcomes
In modern economics, individual choices are often first analysed, and then examined ﾠin an interactive environment for a prediction of the "market" outcome. It is therefore crucial to understand how individual consumers, firms or organisations make choices, and the market structure under which these choices are made.
ﾠ
The primary aim of this course is to provide this exact perspectiveﾠ by introducing students to the ﾠmicroeconomic theoryﾠ underlying the basic ﾠeconomic concepts -- such as demand and supply -- discussed in Introductory Microeconomics (ECON1010). Successful completion of this course should equip students with a deeper understanding of basic microeconomic theory for everyday applications. It should also lay a solid foundation for higher level courses in economics.
Learning outcomes
After successfully completing this course you should be able to:
LO1.
Use microeconomic theory to evaluate economic choices.
LO2.
Analyse market structures using microeconomic theory.
LO3.
Apply economics theory to make qualitative predictions.
LO4.
Communicate findings using various digital modes.
Assessment
Assessment summary
| Category | Assessment task | Weight | Due date |
|---|---|---|---|
| Tutorial/ Problem Set | Exercise I | 40% |
9/04/2025 10:00 am
Submission due on Blackboard via Turnitin at 10.00 AM. See Blackboard for detailed submission instructions in due course. Problem set will be released to students 24 hours in advance from the submission day/time. |
| Tutorial/ Problem Set | Exercise II | 40% |
28/05/2025 10:00 am
Submission due on Blackboard via Turnitin at 10.00 AM. See Blackboard for detailed submission instructions in due course. Problem set will be released to students 24 hours in advance from the submission day/time. |
| Project | BORDERLESS CLEAR - Meet and Greet | 2% Group project |
21/03/2025 1:00 pm
Refer to description on Blackboard. |
| Project | BORDERLESS CLEAR - First Submission | 8% Group project |
1/04/2025 12:00 pm |
| Project | BORDERLESS CLEAR - Feedback | 4% Group project |
29/04/2025 12:00 pm |
| Project | BORDERLESS CLEAR - Final Submission | 6% Group project |
16/05/2025 1:00 pm |
Assessment details
Exercise I
- Mode
- Written
- Category
- Tutorial/ Problem Set
- Weight
- 40%
- Due date
9/04/2025 10:00 am
Submission due on Blackboard via Turnitin at 10.00 AM.
See Blackboard for detailed submission instructions in due course.
Problem set will be released to students 24 hours in advance from the submission day/time.
- Learning outcomes
- L01, L02, L03
Task description
- You will be assessed on the topics covered in Lectures 1-6 (and tutorials 1-6).
- Exercise I will be posted on Blackboard and needs to be submitted through Turnitin.
- It will consist of problem solving questions and/or short questions.
- Further details will be posted on Blackboard.
This assessment task evaluates student’s abilities, skills and knowledge without the aid of Artificial Intelligence (AI). Students are advised that the use of AI technologies to develop responses is strictly prohibited and may constitute student misconduct under the Student Code of Conduct.
Submission guidelines
Deferral or extension
You may be able to apply for an extension.
The maximum extension allowed is 7 days. Extensions are given in multiples of 24 hours.
Extensions are limited to 7 calendar days to ensure timely feedback to other students.
Late submission
A penalty of 10% of the maximum possible mark will be deducted per 24 hours from time submission is due for up to 7 days. After 7 days, you will receive a mark of 0.
Exercise II
- Mode
- Written
- Category
- Tutorial/ Problem Set
- Weight
- 40%
- Due date
28/05/2025 10:00 am
Submission due on Blackboard via Turnitin at 10.00 AM.
See Blackboard for detailed submission instructions in due course.
Problem set will be released to students 24 hours in advance from the submission day/time.
- Learning outcomes
- L01, L02, L03
Task description
- You will be assessed on the topics covered in all lectures and tutorials.
- Exercise II will be posted on Blackboard and needs to be submitted through Turnitin.
- It will consist of problem solving questions and/or short questions.
- Further details will be posted on Blackboard.
This assessment task evaluates student’s abilities, skills and knowledge without the aid of Artificial Intelligence (AI). Students are advised that the use of AI technologies to develop responses is strictly prohibited and may constitute student misconduct under the Student Code of Conduct.
Submission guidelines
Deferral or extension
You may be able to apply for an extension.
The maximum extension allowed is 7 days. Extensions are given in multiples of 24 hours.
Extensions are limited to 7 calendar days to ensure timely feedback to other students.
Late submission
A penalty of 10% of the maximum possible mark will be deducted per 24 hours from time submission is due for up to 7 days. After 7 days, you will receive a mark of 0.
BORDERLESS CLEAR - Meet and Greet
- Mode
- Activity/ Performance
- Category
- Project
- Weight
- 2% Group project
- Due date
21/03/2025 1:00 pm
Refer to description on Blackboard.
- Learning outcomes
- L04
Task description
Task
A simple “meet and greet” introductory activity to be completed in a collaborative platform: students must join a group and complete a simple activity (details on Blackboard).
Artificial Intelligence (AI) and Machine Translation (MT) are emerging tools that may support students in completing this assessment task. Students may appropriately use AI and/or MT in completing this assessment task. Students must clearly reference any use of AI or MT in each instance.
A failure to reference generative AI or MT use may constitute student misconduct under the Student Code of Conduct.
Submission guidelines
Submissions instructions to be provided on Blackboard.
Deferral or extension
You cannot defer or apply for an extension for this assessment.
BORDERLESS CLEAR - First Submission
- Mode
- Written
- Category
- Project
- Weight
- 8% Group project
- Due date
1/04/2025 12:00 pm
- Learning outcomes
- L01, L02, L03, L04
Task description
Student groups write a draft CLEAR using two ECON2010 course economic concepts.
Artificial Intelligence (AI) and Machine Translation (MT) are emerging tools that may support students in completing this assessment task. Students may appropriately use AI and/or MT in completing this assessment task. Students must clearly reference any use of AI or MT in each instance.
A failure to reference generative AI or MT use may constitute student misconduct under the Student Code of Conduct.
Submission guidelines
Submissions instructions to be provided on Blackboard.
Deferral or extension
You cannot defer or apply for an extension for this assessment.
BORDERLESS CLEAR - Feedback
- Mode
- Written
- Category
- Project
- Weight
- 4% Group project
- Due date
29/04/2025 12:00 pm
- Learning outcomes
- L01, L02, L03, L04
Task description
Groups provide written feedback on other group’s submission (to improve the other group's CLEAR first submission).
Artificial Intelligence (AI) and Machine Translation (MT) are emerging tools that may support students in completing this assessment task. Students may appropriately use AI and/or MT in completing this assessment task. Students must clearly reference any use of AI or MT in each instance.
A failure to reference generative AI or MT use may constitute student misconduct under the Student Code of Conduct.
Submission guidelines
Submissions instructions to be provided on Blackboard.
Deferral or extension
You cannot defer or apply for an extension for this assessment.
BORDERLESS CLEAR - Final Submission
- Mode
- Written
- Category
- Project
- Weight
- 6% Group project
- Due date
16/05/2025 1:00 pm
- Learning outcomes
- L01, L02, L03, L04
Task description
Final submission of the CLEAR project, including response letter explaining how the feedback is addressed in the revision.
Artificial Intelligence (AI) and Machine Translation (MT) are emerging tools that may support students in completing this assessment task. Students may appropriately use AI and/or MT in completing this assessment task. Students must clearly reference any use of AI or MT in each instance.
A failure to reference generative AI or MT use may constitute student misconduct under the Student Code of Conduct.
Submission guidelines
Submissions instructions to be provided on Blackboard.
Deferral or extension
You cannot defer or apply for an extension for this assessment.
Course grading
Full criteria for each grade is available in the Assessment Procedure.
| Grade | Cut off Percent | Description |
|---|---|---|
| 1 (Low Fail) | 0% - 29% |
Absence of evidence of achievement of course learning outcomes. |
| 2 (Fail) | 30% - 46% |
Minimal evidence of achievement of course learning outcomes. |
| 3 (Marginal Fail) | 47% - 49% |
Demonstrated evidence of developing achievement of course learning outcomes |
| 4 (Pass) | 50% - 64% |
Demonstrated evidence of functional achievement of course learning outcomes. |
| 5 (Credit) | 65% - 74% |
Demonstrated evidence of proficient achievement of course learning outcomes. |
| 6 (Distinction) | 75% - 84% |
Demonstrated evidence of advanced achievement of course learning outcomes. |
| 7 (High Distinction) | 85% - 100% |
Demonstrated evidence of exceptional achievement of course learning outcomes. |
Additional course grading information
A student's final overall end of semester percentage mark will be rounded to determine their final grade. For example, 64.5% rounds to 65%, while 64.4% rounds to 64%.
Supplementary assessment
Supplementary assessment is available for this course.
Additional assessment information
Plagiarism
The School of Economics is committed to reducing the incidence of plagiarism.ﾠFurther information on plagiarism and how to avoid an allegation of plagiarism is available in this course profile under Policies & Procedures. Please refer to theﾠAcademic Integrity Module (AIM). It is strongly recommended that youﾠcomplete the AIMﾠif you have not already done so.ﾠ
Learning resources
You'll need the following resources to successfully complete the course. We've indicated below if you need a personal copy of the reading materials or your own item.
Library resources
Find the required and recommended resources for this course on the UQ Library website.
Additional learning resources information
Additional class resources will be posted regularly on Blackboard including slides, tutorial questions, additional readings, and class notices.
Learning activities
The learning activities for this course are outlined below. Learn more about the learning outcomes that apply to this course.
Filter activity type by
Please select
| Learning period | Activity type | Topic |
|---|---|---|
Week 1 (24 Feb - 02 Mar) |
Lecture |
Lecture 1: Preference and Utility Assumptions on consumer preferences, Representing preferences with a utility function Learning outcomes: L01, L03, L04 |
Week 2 (03 Mar - 09 Mar) |
Lecture |
Lecture 2: Indifference Curves and Budget Sets Indifference curves, Marginal Rate of Substitution, Budget Sets Learning outcomes: L01, L03, L04 |
Week 3 (10 Mar - 16 Mar) |
Lecture |
Lecture 3: Utility Maximisation The Utility maximisation problem Learning outcomes: L01, L03, L04 |
Week 4 (17 Mar - 23 Mar) |
Lecture |
Lecture 4: Expenditure Minimisation Consumer's expenditure minimisation problem, relationship between utility maximisation and expenditure minimisation Learning outcomes: L01, L03, L04 |
Week 5 (24 Mar - 30 Mar) |
Lecture |
Lecture 5: Demand Learning outcomes: L01, L03, L04 |
Week 6 (31 Mar - 06 Apr) |
Lecture |
Lecture 6: Consumer's Welfare Learning outcomes: L01, L03, L04 |
Week 7 (07 Apr - 13 Apr) |
Problem-based learning |
Exercise I Submission No lecture or tutorial this week Learning outcomes: L01, L03 |
Week 8 (14 Apr - 20 Apr) |
Lecture |
Lecture 8: Production Profit-maximisation and Cost-minimisation Learning outcomes: L01, L03, L04 |
Mid-sem break (21 Apr - 27 Apr) |
No student involvement (Breaks, information) |
No lecture or tutorials Learning outcomes: L04 |
Week 9 (28 Apr - 04 May) |
Lecture |
Lecture 9: Price-Taking Markets Competitive market equilibrium, intervention Learning outcomes: L01, L02, L03, L04 |
Week 10 (05 May - 11 May) |
Lecture |
Lecture 10: Market Power Monopoly, Monopolist Marginal Revenue, Deadweight loss. Learning outcomes: L01, L02, L03, L04 |
Week 11 (12 May - 18 May) |
Lecture |
Lecture 11: Externalities Producer and Consumer Externalities: Regulation and Taxes. Learning outcomes: L01, L02, L03, L04 |
Week 12 (19 May - 25 May) |
Lecture |
Lecture 12: Public Goods Free-riding, Public Goods, Tragedy of Commons. Learning outcomes: L01, L02, L03, L04 |
Week 13 (26 May - 01 Jun) |
Problem-based learning |
Exercise II Submission No lecture or tutorial this week Learning outcomes: L01, L02, L03 |
Policies and procedures
University policies and procedures apply to all aspects of student life. As a UQ student, you must comply with University-wide and program-specific requirements, including the:
- Student Code of Conduct Policy
- Student Integrity and Misconduct Policy and Procedure
- Assessment Procedure
- Examinations Procedure
- Reasonable Adjustments - Students Policy and Procedure
Learn more about UQ policies on my.UQ and the Policy and Procedure Library.