Course coordinator
Dr Manuel Staab
Course overview
- Study period
- Semester 2, 2025 (28/07/2025 - 22/11/2025)
- Study level
- Postgraduate Coursework
- Location
- St Lucia
- Attendance mode
- In Person
- Units
- 2
- Administrative campus
- St Lucia
- Coordinating unit
- Economics School
This course builds on the economic theory developed in ECON7000 introducing a more advanced level of analysis of consumer and producer behaviour with additional tools and models. Topics may include partial and general equilibrium theory, producer and consumer theory, imperfect competition including monopoly and oligopoly, as well various aspects of externalities, risk and uncertainty.
Public awareness of the importance of microeconomic theory has increased during the last few decades. This is evidenced by the level of content and discussion about both the global and the domestic economy in the media. The primary aim of this course is to provide students with a clear understanding of microeconomic theory and its application in a real world context.
Course requirements
Assumed background
The mathematical requirements of this course are modest.ﾠBasic arithmetic and calculus, as well as an ability to understand and manipulate simple graphs, are required.
Prerequisites
You'll need to complete the following courses before enrolling in this one:
ECON1010 or 7000
Recommended prerequisites
We recommend completing the following courses before enrolling in this one:
ECON1050 or 7150
Incompatible
You can't enrol in this course if you've already completed the following:
ECON2010 or 7010 or 7012
Course contact
School enquiries
Student 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 to enquiries@economics.uq.edu.au.
Enquiries relating specifically to course content should be directed to the Course Coordinator/Lecturer.
Course staff
Lecturer
Dr Manuel Staab
Tutor
Ms Lou Oxford
Miss Natasha Rose Rao
Ms Claire Sturm
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: Wed 13 August (Royal Queensland Show Holiday), Mon 6 October (King’s Birthday public holiday).
- Mid-Semester Break: 29 September – 3 October. Semester 2 classes recommence on Tue 7 October.
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 course equips students with the core economic principles that are necessary to understand how decision-makers make optimal choices when they face limited resources.ﾠAt the end of the course, students should be able to apply theoretical tools in real-world situations.ﾠThroughout the course, the emphasis will be on a suitable blend of theory and applications. Understanding and application of the concepts learned, rather than rote learning, will be emphasised. ﾠ
Learning outcomes
After successfully completing this course you should be able to:
LO1.
Formalise intuitive concepts associated with daily economic problems.
LO2.
Apply microeconomic principles and mathematical tools to solve formal economic problems.
LO3.
Analyse the framework of many economic institutions, to define and solve economic problems using a theoretical analysis.
LO4.
Conduct independent research using a critical analysis and an effective communication.
Assessment
Assessment summary
| Category | Assessment task | Weight | Due date |
|---|---|---|---|
| Tutorial/ Problem Set | Problem Sets | 20% (Best 10 of 12) |
Due weekly on Monday by 12PM, starting from week 2. |
| Essay/ Critique |
Analysis of economic articles in newspapers
|
40% |
31/10/2025 4:00 pm |
| Project |
Analysis of a Firm
|
40% |
10/11/2025 10:00 am |
Assessment details
Problem Sets
- Mode
- Written
- Category
- Tutorial/ Problem Set
- Weight
- 20% (Best 10 of 12)
- Due date
Due weekly on Monday by 12PM, starting from week 2.
- Learning outcomes
- L01, L02
Task description
Throughout the course, there will be twelve (12) written tutorial exercises. You can earn up to two (2) marks for turning in each tutorial exercise. Only the best ten (10) exercises will be counted.
In order to be awarded 2 marks for an exercise, you must submit a reasonably completed (but not necessarily completely correct) exercise online through the course Blackboard site. All answers must be submitted before their specific due dates and times, which will be advised when the exercises are given. If the exercise is typed (with a word processing software), it should be saved as a pdf file before submission. If it is hand-written, you can either scan or take a photo of it, save the scan or photo as a pdf, png or jpeg file, and submit the file. In this case, however, the hand-writing (in the image file submitted) should be legible.
This assessment task evaluates students' abilities, skills and knowledge without the aid of generative 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.
Important: Because weekly problem sets will be solved in each tutorial session, extensions to this tasks cannot be granted.
AI Policy
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
The assessment must be submitted online via theTurnitin folder on the course Blackboard site by the due date and time.
Deferral or extension
You cannot defer or apply for an extension for this assessment.
As the best 10 out of 12 Problem Sets count towards this assessment, there is no extension or deferral.
Late submission
You will receive a mark of 0 if this assessment is submitted late.
Analysis of economic articles in newspapers
- Mode
- Written
- Category
- Essay/ Critique
- Weight
- 40%
- Due date
31/10/2025 4:00 pm
- Other conditions
- Student specific.
- Learning outcomes
- L03, L04
Task description
Preliminaries
The purpose of this INDIVIDUAL essay is to analyse a local or international news article, using the concepts and tools learned in the course. At the end of week 2, each student will be randomly assigned a category (e.g., financial economics, public economics, political economy, etc.). The news article must pertain to the assigned category.
Essay Structure
The essay must contain the following sections:
- Summary of the chosen news article (in bullet points)
- Background
- Analysis A & Analysis B
- Who or which parties are affected by the policy covered in the news? How are they affected?
- Why and how the government, or any other third party, did influence the outcome?
- Recommendation
- Appendix
- Lists of Figures
- Reference
- News attachment
News Article Requirements
- The news article must be published in English and dated June 2025 or later.
- No two students within the same category may select the same or a highly similar news article. Penalties will apply in such cases (see below).
Reserving a News Article
News article selection is first-come, first-served within each category.
- The course coordinator will create a "Reserved Article" forum for each group. Do not create another forum.
- Each student must create a thread within the "Reserved Article" forum to reserve their article.
- Use the provided template to enter:
- Headline
- Source
- Publication Date
- Link (if available)
Note: It is your responsibility to ensure that your article is not the same or too similar to those already reserved. If unsure, please consult the course coordinator.
More details will be available in the forum.
Rules
General
- Your article must match your assigned category. Failure to do so may result in penalties.
- Technical issues are not excuses: computer or internet problems will not be accepted as valid reasons for missing deadlines. Submit your essay well in advance.
Formatting & Word Limit
- Use APA (American Psychological Association) citation style.
- Word count: 2,500–3,000 words (excluding references, figures, and the news attachment).
- Any analysis beyond 3,000 words will not be considered.
Citations & Academic Integrity
- All sources must be properly cited.
- Any figures or content taken from other sources must be referenced appropriately.
- Failure to cite sources correctly may result in an academic integrity investigation.
Submission:
- Check carefully before submitting.
- You may re-upload your file multiple times before the deadline.
- No submissions via email or hard copy will be accepted.
- Uploading the wrong file is not a valid excuse for resubmission after the deadline.
AI Policy
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
The assessment must be submitted electronically in pdf format via the Turnitin folder on the course Blackboard site by the due date and time.
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.
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.
Analysis of a Firm
- Mode
- Written
- Category
- Project
- Weight
- 40%
- Due date
10/11/2025 10:00 am
- Other conditions
- Student specific.
- Learning outcomes
- L03, L04
Task description
Purpose
This individual report requires you to analyse the structure and market of a company, applying the concepts and tools learned in the course.
Report Structure
Your report must be well-organised and include the following sections:
- Title – Clearly indicate the subject of your report.
- Abstract – A concise summary (maximum 200 words).
- Introduction – Provide background on the company and the selected market.
- Main Analysis – Apply course concepts to analyse the company’s market structure and strategy.
- Conclusion – Summarise key findings.
- References & Figures – Cite all sources appropriately.
Note: If the company operates in multiple industries, focus on a single market in which it operates.
Word Limit: a maximum of 3,000 words (excluding references and figures).
AI Policy
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
The assessment must be submitted electronically in pdf format via the Turnitin folder on the course Blackboard site by the due date and time.
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.
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.
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
Using AI at UQ
Visit the AI Student Hub for essential information on understanding and using Artificial Intelligence in your studies responsibly.
Plagiarism
The School of Economics is committed to reducing the incidence of plagiarism. You are encouraged to read the UQ Student Integrity and Misconduct Policy available in the Policies and Procedures section of this course profile.
The Academic Integrity Module (AIM) outlines your obligations and responsibilities as a UQ student. It is compulsory for all new to UQ students to complete the AIM.
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
The required textbook has an online MyLAB course that has additional content such as videos and study questions.ﾠ
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 (28 Jul - 03 Aug) |
Lecture |
Week 1: Review of mathematical tools Definition of functions and derivatives. Rules of differentiation. Definition of increasing, decreasing, convex, and concave functions. Unconstrained Optimization Learning outcomes: L01, L02 |
Week 2 (04 Aug - 10 Aug) |
Lecture |
Week 2: The Supply and Demand Model Demand, supply, and market equilibrium. Shocks to the market equilibrium. Demand and supply elasticity. Applications of the supply and demand model. Learning outcomes: L01, L02, L03 |
Week 3 (11 Aug - 17 Aug) |
Lecture |
Week 3: Consumers' Preferences Definition of preferences. Properties of preferences. Indifference curves. Utility functions. Learning outcomes: L01, L02, L03 |
Week 4 (18 Aug - 24 Aug) |
Lecture |
Week 4: Consumer's choice Budget sets. Constrained consumer choice. Tangency condition. Optimal consumption bundles. Learning outcomes: L01, L02, L03 |
Week 5 (25 Aug - 31 Aug) |
Lecture |
Week 5: Expenditure Minimization Problem The expenditure function. Expenditure Minimisation Problem. Cost-of-living adjustment. Learning outcomes: L01, L02, L03 |
Week 6 (01 Sep - 07 Sep) |
Lecture |
Week 6: Derivation of demand function Hicksian and Marshallian demands. Comparative statics. Engel curves. Price and substitution effects Learning outcomes: L01, L02, L03 |
Week 7 (08 Sep - 14 Sep) |
Lecture |
Week 7: The firm's problem Cost minimisation problem. Profit maximisation problem. Derviation of the cost function. Total, average, and marginal costs. Learning outcomes: L01, L02, L03 |
Week 8 (15 Sep - 21 Sep) |
Lecture |
Week 8: Competitive Markets Derivation of the supply curve. Zero profit in the long run. Consumer welfare. Producer welfare. Government interventions (taxes, subsidies, quotas). Learning outcomes: L01, L02, L03 |
Week 9 (22 Sep - 28 Sep) |
Lecture |
Week 9: Monopoly Monopoly profit maximisation. Lerner's index. Market power. Welfare effects of monopolistic markets. Contestable monopolies. Government actions that create monopolies. Learning outcomes: L01, L02, L03 |
Mid Sem break (29 Sep - 05 Oct) |
No student involvement (Breaks, information) |
Mid semester Break No lecture or tutorials will be held this week. |
Week 10 (06 Oct - 12 Oct) |
Lecture |
Week 10: Introduction to Game Theory Normal form games. Dominant and dominated strategies. Equilibrium in dominant strategies. Prisoner's dilemma. Nash equilibrium. Monday, 6 October is a Public Holiday. If your tutorial is scheduled for this day, please attend any of the other tutorials scheduled for the week. Learning outcomes: L01, L02, L03 |
Week 11 (13 Oct - 19 Oct) |
Lecture |
Week 11: Oligopolies Definition of oligopolies. Bertrand competition. Cournot competition. Learning outcomes: L01, L02, L03 |
Week 12 (20 Oct - 26 Oct) |
Lecture |
Week 12: General Equilibrium Endowments. Edgeworth Box. Contract curve. Pareto efficient allocation. Equilibrium prices and allocations. Learning outcomes: L01, L02, L03 |
Week 13 (27 Oct - 02 Nov) |
Lecture |
Week 13: General Essays Consultation The time of the lecture will be devoted to answering questions about the two essays students have to deliver for the course. 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.