Course coordinator
Dr Metin Uyanik
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
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
|
16% |
Refer to Description (weekly) |
| Participation/ Student contribution, Reflection |
Author, Moderate and Answer Questions via RiPPLE
|
15% (3x5%) |
See the Description |
| Paper/ Report/ Annotation, Essay/ Critique, Project, Reflection |
AI Assisted Case Study: Microeconomic Theory in Action
|
25% |
30/05/2025 4:00 pm |
| Examination |
Final Exam
|
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.
- 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.
- 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.
- 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
Please select
| 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:
- 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.