Course coordinator
Dr Kenan Kalayci
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 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, optimisation and welfare.
ECON2012 is the introductory course in Microeconomics for the Advanced Business 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 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.
Due to the accelerated nature of the course, continuous assessment will encourage students to remain actively engaged with the material throughout the semester. Weekly tutorials will allow for more in depth problem-solving practice.
Course requirements
Incompatible
You can't enrol in this course if you've already completed the following:
((ECON1010 or 1011) + 2010) or ECON2011
Restrictions
Course is restricted to students enrolled in the BAdvBus(Hons) program
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 Kenan Kalayci
Tutor
Mr Tilak Vakkalagadda
Mx Robin Phillips
Mr Milad Jamalkhani
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 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 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
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 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.
Explain the assumptions that underlie economic analysis and the basic principles of economics analysis such as marginal thinking.
LO2.
Analyze individual consumer choice problems, including under uncertainty.
LO3.
Identify the cost of production categories that are relevant for critical business decisions such as pricing, capacity abandonment, and new market entry. Develop the firms cost curves and demonstrate how they underlie the firm's supply curve. Explain how firms' decisions about prices and quantities depend on the market structure.
LO4.
Analyze aggregate demand, aggregate supply, market equilibrium and welfare in market equilibrium.
LO5.
Analyze deviations from the perfectly competitive market, including cases of monopoly firm behavior, asymmetric information, externalities, and public goods.
LO6.
Apply basic concepts of game theory to oligopoly markets.
Assessment
Assessment summary
| Category | Assessment task | Weight | Due date |
|---|---|---|---|
| Examination, Tutorial/ Problem Set |
In-semester exam
|
30% |
29/03/2025 - 12/04/2025
Date and time to be confirmed. |
| Paper/ Report/ Annotation |
Company Report
|
30% |
30/05/2025 1:00 pm |
| 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, Tutorial/ Problem Set
- Weight
- 30%
- Due date
29/03/2025 - 12/04/2025
Date and time to be confirmed.
- Learning outcomes
- L01, L02, L03
Task description
The exam consists of problem-solving and/or short answer questions that assess understanding of the topics studied in the lectures and tutorials.
This assessment task is to be completed in-person. The use of generative Artificial Intelligence (AI) or Machine Translation (MT) tools will not be permitted. Any attempted use of AI or MT may constitute student misconduct under the Student Code of Conduct.
Exam details
| Planning time | 10 minutes |
|---|---|
| Duration | 90 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.
Company Report
- Online
- Mode
- Written
- Category
- Paper/ Report/ Annotation
- Weight
- 30%
- Due date
30/05/2025 1:00 pm
- Learning outcomes
- L01, L02, L03, L04, L05, L06
Task description
The purpose of this INDIVIDUAL report is to analyse a company chosen from a prescribed list. For large companies that operate in multiple industries, you should focus on a single market in which the company is operating. You should use the concepts and tools learned in the course to complete this task. The assessment must be submitted in PDF format via the Turn-it-in folder on the course Blackboard site.
The report should be organized coherently and must have a title, an abstract (max. 200 words), a short introduction, a main analysis and a short conclusion. The report is limited to 3,500 words (excluding references, and figures).
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
Deferral or extension
You may be able to apply for an extension.
The maximum extension allowed is 14 days. Extensions are given in multiples of 24 hours.
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, L05, L06
Task description
The exam consists of problem-solving and/or short answer questions that assess understanding of the topics studied in the lectures and tutorials.
This assessment task is to be completed in-person. The use of generative Artificial Intelligence (AI) or Machine Translation (MT) tools will not be permitted. Any attempted use of AI or MT may constitute student misconduct under the Student Code of Conduct.
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 theﾠAcademic 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.
Additional learning resources information
There are many other introductory and intermediate microeconomic textbooks available (in the library or online) and I recommend you refer to any one that you like if you struggle with the presentation of a particular topic in Goolsbee, Levitt and Syverson.
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 |
L1: Intro to Microeconomics Learning outcomes: L01 |
Week 2 (03 Mar - 09 Mar) |
Tutorial |
Tutorial 1 Problem solving and applications based on lecture 1. Learning outcomes: L01 |
Lecture |
L2: Consumer choice Learning outcomes: L01, L02 |
|
Week 3 (10 Mar - 16 Mar) |
Tutorial |
Tutorial 2 Applications and problem solving based on lecture 2. Learning outcomes: L01, L02 |
Lecture |
L3: Risk and uncertainty Learning outcomes: L02 |
|
Week 4 (17 Mar - 23 Mar) |
Tutorial |
Tutorial 3 Applications and problem solving based on lecture 3. Learning outcomes: L02 |
Lecture |
L4: Firms and Production Learning outcomes: L03 |
|
Week 5 (24 Mar - 30 Mar) |
Tutorial |
Tutorial 4 Applications and problem solving based on lecture 4. Learning outcomes: L03 |
Lecture |
L5: Competition and market structure Learning outcomes: L04 |
|
Week 6 (31 Mar - 06 Apr) |
Tutorial |
Tutorial 5 Applications and problem solving based on lecture 5. Learning outcomes: L04 |
Lecture |
L6: Pricing Learning outcomes: L04 |
|
Week 7 (07 Apr - 13 Apr) |
Tutorial |
Tutorial 6 Applications and problem solving based on lecture 6. Learning outcomes: L04 |
Lecture |
L7: Game theory Learning outcomes: L05, L06 |
|
Week 8 (14 Apr - 20 Apr) |
Tutorial |
Tutorial 7 Applications and problem solving based on lecture 7. Learning outcomes: L05, L06 |
Lecture |
L8: Oligopoly Sub-activity: Library workshop regarding the Company Report Learning outcomes: L05, L06 |
|
Mid-sem break (21 Apr - 27 Apr) |
No student involvement (Breaks, information) |
No lecture or tutorials |
Week 9 (28 Apr - 04 May) |
Tutorial |
Tutorial 8 Applications and problem solving based on lecture 8. Learning outcomes: L05, L06 |
Lecture |
L9: Asymmetric Information Learning outcomes: L05, L06 |
|
Week 10 (05 May - 11 May) |
Tutorial |
Tutorial 9 Applications and problem solving based on lecture 9. Learning outcomes: L05, L06 |
Lecture |
L10: Network effects and multi-sided platforms Learning outcomes: L05, L06 |
|
Week 11 (12 May - 18 May) |
Tutorial |
Tutorial 10 Applications and problem solving based on lecture 10. Learning outcomes: L05, L06 |
Lecture |
L11: Externalities and public goods Learning outcomes: L05, L06 |
|
Week 12 (19 May - 25 May) |
Tutorial |
Tutorial 11 Applications and problem solving based on lecture 11. Learning outcomes: L05, L06 |
Lecture |
L12: Applied/empirical microeconomics Learning outcomes: L05, L06 |
|
Week 13 (26 May - 01 Jun) |
Tutorial |
Tutorial 12 Applications and problem solving based on lecture 12. Learning outcomes: L05, L06 |
Lecture |
L13: Q&A An open consultation session to answer any student questions. Learning outcomes: L01, L02, L03, L04, L05, L06 |
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.