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Course profile

Advanced Microeconomics (ECON3010)

Study period
Sem 1 2025
Location
St Lucia
Attendance mode
In Person

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

Developments & implications of microeconomic theory.

Microeconomic theory aims to model economic activity as an interaction of individual economic agents pursuing their own goals. It provides the foundations for economic, political, strategic, and financial analysis. The aim of this subject is to present a systematic treatment of decision making. The subject demonstrates how we can use models to understand the fundamental principles behind familiar economic concepts, and how we apply these models. Examples and applications will be used to motivate concepts.

Course requirements

Assumed background

See Pre-requisites.

Prerequisites

You'll need to complete the following courses before enrolling in this one:

ECON1050 + 2010. For BAdvFin&Econ(Hons) students - ECON1050 and 2030.

Recommended prerequisites

We recommend completing the following courses before enrolling in this one:

ECON2050

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

Tutor

Miss Si Si Gao

Timetable

The timetable for this course is available on the UQ Public Timetable.

Additional timetable information

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

The aim of this subject is to present a systematic treatment of the basic tools of microeconomicᅠanalysis including procedures for analyzing decision making under uncertainty.

Learning outcomes

After successfully completing this course you should be able to:

LO1.

Demonstrate familiarity with the mathematical and intuitive fundamentals of economic theory

LO2.

Analyse and critically evaluate modelling choices in economic theory

LO3.

Critically evaluate and develop advanced economic models involving uncertainty and strategic interaction

LO4.

Apply the main principles of microeconomic theory to economic problems

Assessment

Assessment summary

Category Assessment task Weight Due date
Quiz, Reflection Interactive Review Questions
  • Online
16%

Refer to Description (weekly)

Participation/ Student contribution, Reflection Author, Moderate and Answer Questions via RiPPLE
  • Online
15% (3x5%)

See the Description

Paper/ Report/ Annotation, Essay/ Critique, Project, Reflection AI Assisted Case Study: Microeconomic Theory in Action
  • Online
25%

30/05/2025 4:00 pm

Examination Final Exam
  • Identity Verified
  • In-person
44%

End of Semester Exam Period

7/06/2025 - 21/06/2025

Assessment details

Interactive Review Questions

  • Online
Mode
Written
Category
Quiz, Reflection
Weight
16%
Due date

Refer to Description (weekly)

Other conditions
Time limited.

See the conditions definitions

Learning outcomes
L01, L02, L03, L04

Task description

After each lecture (excluding the last lecture), review questions will be posted on Blackboard. There are approximately 50-60 questions in total. 

The answers must be submitted before the next class. The due date of review questions for each lecture (say Lecture X) is 12noon on Thursday in the following week (before lecture X+1). 

You have only one attempt to answer each question. Your answers will be graded only if they are SUBMITTED before the due date. 

Each review question is worth 0.4 marks. The best 40 out of all (approximately 50-60) scores are considered. 

The answers will be released after the due date. 

The details will be posted on Blackboard.  

Use of AI or MT: This assessment task evaluates students' abilities, skills and knowledge without the aid of generative Artificial Intelligence (AI) or Machine Translation (MT). Students are advised that the use of AI or MT technologies to develop responses is strictly prohibited and may constitute student misconduct under the Student Code of Conduct.

Submission guidelines

Refer to Description (weekly)

Deferral or extension

You cannot defer or apply for an extension for this assessment.

Late submission

You will receive a mark of 0 if this assessment is submitted late.

Late submission is not allowed and a penalty of 100% for non-submissions

Author, Moderate and Answer Questions via RiPPLE

  • Online
Mode
Written
Category
Participation/ Student contribution, Reflection
Weight
15% (3x5%)
Due date

See the Description

Other conditions
Student specific, Time limited, Peer assessed, Peer assessment factor.

See the conditions definitions

Learning outcomes
L01, L02, L03, L04

Task description

You are required to author resources, moderate resources, and answer questions authored by your peers and teaching staff.

Three rounds of RiPPLE will run during the semester, with assessable items due on Thursdays in Weeks 6, 10 and 13 at 12:00noon.

Detailed information about RiPPLE will be provided on Learn.UQ (Blackboard) > Assessment > RiPPLE.

Use of AI or MT: This assessment task evaluates students' abilities, skills and knowledge without the aid of generative Artificial Intelligence (AI) or Machine Translation (MT). Students are advised that the use of AI or MT technologies to develop responses is strictly prohibited and may constitute student misconduct under the Student Code of Conduct.

Submission guidelines

See the Description and Blackboard Announcements.

Deferral or extension

You cannot defer or apply for an extension for this assessment.

An extension is not possible due to the peer assessment component.

Late submission

You will receive a mark of 0 if this assessment is submitted late.

A 100% penalty (zero mark) for the relevant assessment round will apply to late submissions. RiPPLE automatically assigns marks, in line with the marking criteria, based on the time you created a resource, moderated a resource or answered a question. If you do not meet the criteria, RiPPLE will award zero marks.

AI Assisted Case Study: Microeconomic Theory in Action

  • Online
Mode
Written
Category
Paper/ Report/ Annotation, Essay/ Critique, Project, Reflection
Weight
25%
Due date

30/05/2025 4:00 pm

Learning outcomes
L01, L02, L03, L04

Task description

This task consists of an AI-assisted case study, in which students will research and critically analyse a recent real-world case by using the models and tools of microeconomics we learn in this course.

Part I. AI-Generated Output: Use an AI tool (e.g., ChatGPT) to prepare a 800-word write-up including the following: 

1) Briefly describe the nature and characteristics of the chosen case.

2) Explain which microeconomic model is suitable for the case you choose.

3) Describe the case using the model you determine above by using the tools you learned in this course and the characteristics of the case.

4) Describe the predicted outcome of this problem (solve the model -- computational tools are allowed). 

5) Analyse and discuss the predicted outcome and whether the case has reached/is expected to reach the predicted outcome. 

6) Provide and discuss a policy relevant to your case.  

Part II. Critical Analysis (Evaluation & Reflection): Write a 400-word write-up based on the AI generated write up including the following: 

1) Does the AI correctly describe the case, choose a suitable model, and apply the correct solution concept?

2) Is the description and details of the model AI provides consistent with what you have learned in the course?

3) Is the solution and the (predicted) outcome of the problem AI provided correct? Explain, if not provide the correct solution.

4) Is AI's policy and its discussion related to the real-world problem you have?

5) Explain the limitations of the AI. Can it handle the complex economic problems, can it prove a general statement related to your case?

6) Overall, would you trust AI-generated case study and analysis in real-life? Suggest ways AI could be improved for use in economic and strategic decision-making.

Use of AI or MT:

This task has been designed to be challenging, authentic and complex. Whilst students may use AI and/or MT technologies, successful completion of assessment in this course will require students to critically engage in specific contexts and tasks for which artificial intelligence will provide only limited support and guidance.

A failure to reference generative AI or MT use may constitute student misconduct under the Student Code of Conduct.

To pass this assessment, students will be required to demonstrate detailed comprehension of their written submission independent of AI and MT tools.

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.

Requests for the granting of extensions must be submitted through my.UQ: Applying for an extension - my.UQ - University of Queensland with supporting documentation before the submission due date/time. If an extension is approved, the new agreed date for submission will be noted on the application and the student notified through their student email. Extensions cannot exceed the number of days you suffered from a medical condition, as stated on the medical certificate.

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

  • Identity Verified
  • In-person
Mode
Written
Category
Examination
Weight
44%
Due date

End of Semester Exam Period

7/06/2025 - 21/06/2025

Other conditions
Time limited.

See the conditions definitions

Learning outcomes
L01, L02, L04

Task description

Details will be posted on Blackboard

Use of AI or MT: 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 youᅠcomplete 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

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Learning period Activity type Topic
Week 1

(24 Feb - 02 Mar)

Lecture

L1. Introduction to Advanced Micro Economics

Learning outcomes: L01

Week 2

(03 Mar - 09 Mar)

Lecture

L2. Decision under Certainty I: Preferences

Learning outcomes: L01

Week 3

(10 Mar - 16 Mar)

Lecture

L3. Decision under Certainty II: Utility Theory

Learning outcomes: L01, L02, L04

Week 4

(17 Mar - 23 Mar)

Lecture

L4. Decision under Certainty IV: Maximization

Learning outcomes: L01, L03, L04

Week 5

(24 Mar - 30 Mar)

Lecture

L5. Decision under Uncertainty: Expected Utility

Learning outcomes: L01, L02

Week 6

(31 Mar - 06 Apr)

Lecture

L6. Game Theory -- Part I

Learning outcomes: L01

Week 7

(07 Apr - 13 Apr)

Lecture

L7. Game Theory -- Part II

Learning outcomes: L01, L02, L03

Week 8

(14 Apr - 20 Apr)

Lecture

L8. Game Theory -- Part III

Learning outcomes: L01, L02, L03, L04

No student involvement (Breaks, information)

Good Friday - Public Holiday

Students who normally attend tutorial on this day are advised to attend another session for this week only.

Mid-sem break

(21 Apr - 27 Apr)

No student involvement (Breaks, information)

Mid-Semester Break

Week 9

(28 Apr - 04 May)

Lecture

L9. Consumer Theory

Learning outcomes: L01, L02

Week 10

(05 May - 11 May)

Lecture

L10. Producer Theory

Learning outcomes: L01, L02, L03, L04

Week 11

(12 May - 18 May)

Lecture

L11. Revealed Preference

Learning outcomes: L01, L02, L04

Week 12

(19 May - 25 May)

Lecture

L12. General Equilibrium -- Part I

Learning outcomes: L01, L02, L03

Week 13

(26 May - 01 Jun)

Lecture

L13. General Equilibrium -- Part II & Review

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:

Learn more about UQ policies on my.UQ and the Policy and Procedure Library.