Course coordinator
Associate Professor Jeffrey Kline
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
Provides students with tools of microeconomic analysis. These tools are developed from an introductory to an intermediate level using models of perfect and imperfect competition with emphasis on benefits, costs, optimization and welfare.
ECON2011 is the introductory course in Microeconomics for the advanced finance and economics hybrid bachelors degree. This course is taught at an accelerated pace, combining both introductory and intermediate level material (e.g. material that would normally be taught in both ECON1010 and ECON2010). Foundational concepts of microeconomic decision making will be covered, including how individuals make choices to maximize their wellbeing when subject to constraints, howﾠfirms make decisions about production and sales, and the efficiency of markets and government policies affecting markets. Weekly tutorials will allow for more in depth problem-solving practice.
Course requirements
Assumed background
Students are expected to be proficient withﾠbasic calculus, but are not expected to have any background in economics.
Incompatible
You can't enrol in this course if you've already completed the following:
((ECON1010 or 1011) + 2010) or 2012
Restrictions
Restricted to students enrolled in BAdFinEcon(Hons)
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
Associate Professor Jeffrey Kline
Tutor
Mr Joshua Venables
Mr Riley Trim
Mr Siddesh Karekal
Mr Nicholas Ho
Timetable
The timetable for this course is available on the UQ Public Timetable.
Additional timetable information
Lectures commence in 1.
Tutorials commence in 2.
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 5 May (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
This course aims to teach you how to think like an economist to analyze trade-offs and make better decisions. The core principles of microeconomics are relevant to all human decisions, whether made as an individual, as part of a firm in a marketplace, as part of a group that is trying to coordinate their efforts, or as part of the government. The course aims to teach you the basic tools of economic analysis that form the foundation of moreﾠcomplex analysis in all more advanced and specialized courses you may be interested in, such as labor, environmental, development, behavioral, industrial, or health economics.
Learning outcomes
After successfully completing this course you should be able to:
LO1.
Apply concepts of the Consumer and Producer Theory to analyse of demand and supply problems.
LO2.
Apply concepts of the theory of Competitive Markets to analyse problems involving government interventions (taxes and subsidies) and markets with imperfect competition.
LO3.
Use Game Theory and Welfare Analysis to solve problems involving Imperfect Competition and Market Failures, e.g., Externalities and Public Goods.
LO4.
Explain basic theoretical concepts and tools of analysis.
Assessment
Assessment summary
| Category | Assessment task | Weight | Due date |
|---|---|---|---|
| Examination |
In-Semester Exam
|
35% |
2/04/2025 12:00 pm |
| Tutorial/ Problem Set | Problem set | 25% |
14/04/2025 - 6/05/2025
Due at 1pm |
| Examination |
Final Exam
|
40% |
End of Semester Exam Period 7/06/2025 - 21/06/2025 |
Assessment details
In-Semester Exam
- In-person
- Mode
- Written
- Category
- Examination
- Weight
- 35%
- Due date
2/04/2025 12:00 pm
- Learning outcomes
- L01, L04
Task description
- The In-Semester Exam will be held in the lecture room and is a closed-book examination.
- The exam format is short answer and problem solving questions.
- The exam is 60 minutes with 5 minutes reading time.
Exam details
| Planning time | 5 minutes |
|---|---|
| Duration | 60 minutes |
| Calculator options | (In person) Casio FX82 series only or UQ approved and labelled calculator |
| Open/closed book | Closed Book examination - no written materials permitted |
| Exam platform | Paper based |
| Invigilation | Invigilated in person |
Submission guidelines
Deferral or extension
You may be able to defer this exam.
Problem set
- Mode
- Written
- Category
- Tutorial/ Problem Set
- Weight
- 25%
- Due date
14/04/2025 - 6/05/2025
Due at 1pm
- Learning outcomes
- L01, L02, L04
Task description
Students will be given problems based on the material covered the course thus far.
This assessment task evaluates student's abilities, skills, and knowledge without the aid of Artificial Inteligenece (AI). Students are advised that the use of AI to develope responses is 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.
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.
Final Exam
- In-person
- Mode
- Written
- Category
- Examination
- Weight
- 40%
- Due date
End of Semester Exam Period
7/06/2025 - 21/06/2025
- Learning outcomes
- L01, L02, L03, L04
Task description
The final exam will be held during the examination period. Important reminders and notices will be posted on Blackboard.
The exam will be organized centrally.
It will cover all material from the course.
Exam details
| Planning time | 10 minutes |
|---|---|
| Duration | 120 minutes |
| Calculator options | (In person) Casio FX82 series only or UQ approved and labelled calculator |
| Open/closed book | Closed Book examination - no written materials permitted |
| Exam platform | Paper based |
| Invigilation | Invigilated in person |
Submission guidelines
Deferral or extension
You may be able to defer this exam.
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. Further information on plagiarism and how to avoid an allegation of plagiarism is available in this course profile under Policies & Procedures. Please refer to the Academic Integrity Module (AIM). It is strongly recommended that you complete the AIMﾠif you have not already done so.
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.
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 |
Q&A- Lecture 1: Basic Economics Basic Concepts of Economics Learning outcomes: L01, L04 |
Week 2 (03 Mar - 09 Mar) |
Tutorial |
Tutorial 1 Applications and problem solving based on Lecture 1. Learning outcomes: L01, L04 |
Lecture |
Q&A - Lecture 2: Consumer behavior Indifference curves, budget constraints, and utility maximization. Learning outcomes: L01, L04 |
|
Week 3 (10 Mar - 16 Mar) |
Tutorial |
Tutorial 2 Applications and problem solving based on Lecture 2. Learning outcomes: L01, L04 |
Lecture |
Q&A - Lecture 3: Demand Individual demand, income and substitution effects, aggregate demand. Learning outcomes: L01, L04 |
|
Week 4 (17 Mar - 23 Mar) |
Tutorial |
Tutorial 3 Applications and problem solving based on Lecture 3. Learning outcomes: L01, L04 |
Lecture |
Q&A - Lecture 4: Producer Behavior 1 Production functions and cost minimization Learning outcomes: L01, L04 |
|
Week 5 (24 Mar - 30 Mar) |
Tutorial |
Tutorial 4 Applications and problem solving based on lecture 4. Learning outcomes: L01, L04 |
Lecture |
Q&A - Lecture 5: Producer Behavior 2 Profit maximisation and supply in competitive markets. Learning outcomes: L01, L04 |
|
Week 6 (31 Mar - 06 Apr) |
Tutorial |
NO Tutorials this week |
Lecture |
In-semester Exam- In class (Lecture) This will be held at the lecture time. The exam format is problem solving and will cover material from L1 to L4 inclusive. Learning outcomes: L01, L04 |
|
Week 7 (07 Apr - 13 Apr) |
Tutorial |
Tutorial 5 Applications and problem solving based on lecture 5. Learning outcomes: L01, L04 |
Lecture |
Q&A - Lecture 6: Perfect Competition Competitive markets, market equilbrium. Learning outcomes: L01, L02, L04 |
|
Week 8 (14 Apr - 20 Apr) |
Tutorial |
Tutorial 6 Applications and problem solving based on lecture 6. Learning outcomes: L01, L02, L04 |
Lecture |
Q&A - Lecture 7: Analyzing markets Consumer and producer surplus, taxes and subsidies, price floors and ceilings, import quotas and tariffs. Learning outcomes: L01, L02, L04 |
|
Mid-sem break (21 Apr - 27 Apr) |
No student involvement (Breaks, information) |
No lecture or tutorials |
Week 9 (28 Apr - 04 May) |
Tutorial |
Tutorial 7 Applications and problem solving based on lecture 7. Learning outcomes: L01, L02, L04 |
Lecture |
Q&A - Lecture 8: Monopoly Monopoly and monopsony, monopoly supply choices, welfare effects of monopoly, Pricing with market power, price discrimination. Learning outcomes: L01, L02, L04 |
|
Week 10 (05 May - 11 May) |
Tutorial |
Tutorial 8 Applications and problem solving based on lecture 8. Students with a tutorial on Labour Day can attend another tutorial during this week. Learning outcomes: L01, L02, L03, L04 |
Lecture |
Q&A - Lecture 9: Imperfect Competition Oligopoly, Bertrand and Cournot equilibria, Stackelberg model, collusion. Learning outcomes: L01, L02, L03, L04 |
|
Week 11 (12 May - 18 May) |
Tutorial |
Tutorial 9 Applications and problem solving based on lecture 9. Learning outcomes: L01, L02, L03, L04 |
Lecture |
Lecture 10: Economics of Information Learning outcomes: L01, L02, L03, L04 |
|
Week 12 (19 May - 25 May) |
Tutorial |
Tutorial 10 Applications and problem solving based on lecture 10. Learning outcomes: L01, L02, L03, L04 |
Lecture |
Lecture 11: Externalities and Public Goods Learning outcomes: L01, L02, L03, L04 |
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 for Students Policy and Procedure
Learn more about UQ policies on my.UQ and the Policy and Procedure Library.