ECW1101
Introductory microeconomics
Unit Guide
Semester 2, 2015
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this work may not be reproduced in any form without the written permission of the host Faculty and
School/Department.
The information contained in this unit guide is correct at time of publication. The University has the right
to change any of the elements contained in this document at any time.
Last updated: 15 Jul 2015
Table of Contents
ECW1101 Introductory microeconomics - Semester 2, 2015................................................................1
Mode of Delivery..............................................................................................................................1
Workload requirements....................................................................................................................1
Additional workload requirements........................................................................................1
Unit Relationships........................................................................................................................................1
Prohibitions......................................................................................................................................1
Chief Examiner(s)........................................................................................................................................1
Campus Lecturer(s).....................................................................................................................................1
Malaysia...........................................................................................................................................1
Tutor(s)........................................................................................................................................................2
Malaysia...........................................................................................................................................2
Your feedback to Us....................................................................................................................................2
Previous Student Evaluations of this Unit....................................................................................................2
Academic Overview...................................................................................................................................3
Learning Outcomes.........................................................................................................................3
Unit Schedule.............................................................................................................................................4
Teaching Approach..........................................................................................................................4
Assessment Summary.....................................................................................................................5
Hurdle Requirements...........................................................................................................5
Second marking...................................................................................................................5
Return of final marks............................................................................................................5
Exam viewing.......................................................................................................................6
Assessment criteria..............................................................................................................6
Assessment Requirements......................................................................................................................7
Assessment Tasks...........................................................................................................................7
Assessment task 1...............................................................................................................7
Assessment task 2...............................................................................................................7
Assessment task 3...............................................................................................................8
Assessment task 4...............................................................................................................8
Examination(s).............................................................................................................................................9
Examination 1..................................................................................................................................9
Learning resources......................................................................................................................................9
Feedback to you..........................................................................................................................................9
Extensions and penalties...........................................................................................................................10
Returning assignments..............................................................................................................................10
Resubmission of assignments...................................................................................................................10
Referencing requirements.........................................................................................................................10
Assignment submission.............................................................................................................................10
Hard copy submission...................................................................................................................10
Online submission.........................................................................................................................10
Required Resources..................................................................................................................................11
Recommended Resources........................................................................................................................11
Additional subject costs.............................................................................................................................11
Examination material or equipment...........................................................................................................11
Other Information....................................................................................................................................12
Policies..........................................................................................................................................12
Graduate Attributes Policy.................................................................................................12
Student Charter.........................................................................................................................................12
Student services........................................................................................................................................12
Monash University Library.........................................................................................................................12
Moodle 2....................................................................................................................................................13
Disability Liaison Unit................................................................................................................................13
ECW1101 Introductory microeconomics - Semester 2, 2015
An introduction to the study of economics; consumer behaviour; demand and supply and the operation of
markets; market efficiency and welfare; welfare effects of international trade; public sector economics;
the behaviour of firms and the organisation of an industry; market structures -- perfect competition and
monopoly; economies of the labour market.
Mode of Delivery
Malaysia (Day)
Workload requirements
Minimum total expected workload to achieve the learning outcomes for this unit is 144 hours per
semester typically comprising a mixture of scheduled learning activities and independent study.
Independent study may include associated readings, assessment and preparation for scheduled
activities. The unit requires on average three/four hours of scheduled activities per week. Scheduled
activities may include a combination of teacher directed learning, peer directed learning and online
engagement.
See also Unit timetable information
Additional workload requirements
This unit is worth six (6) credit points. This is equivalent to 10-12 hours work per week consistently over
the semester. The total time commitment expected for this unit is 144 hours. This includes time spent in
preparing for and completing assessment tasks, together with time spent in general study, revision, and
examination preparation.
Unit Relationships
Prohibitions
ECB1101, ECG1101, ECP1100, ECS1101
Chief Examiner(s)
Dr Luc Borrowman
Campus Lecturer(s)
Malaysia
Dr Luc Borrowman
Contact hours: TBA Via Moodle
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ECW1101 Introductory microeconomics - Semester 2, 2015
Tutor(s)
Malaysia
Dr Lilian Chan
Contact hours: TBA Via Moodle
Mr William Soh
Contact hours: TBA Via Moodle
Your feedback to Us
Monash is committed to excellence in education and regularly seeks feedback from students, employers
and staff. One of the key formal ways students have to provide feedback is through the Student
Evaluation of Teaching and Units (SETU) survey. The University’s student evaluation policy requires that
every unit is evaluated each year. Students are strongly encouraged to complete the surveys. The
feedback is anonymous and provides the Faculty with evidence of aspects that students are satisfied
and areas for improvement.
For more information on Monash’s educational strategy, see:
[Link]/about/monash-directions/ and on student evaluations, see:
[Link]/policy-bank/academic/education/quality/[Link]
Previous Student Evaluations of this Unit
• The assessment structure has been changed this semester to improve the level of feedback that
students receive as noted in the previous evaluation. This will allow a more continuous feedback
process.
• There will be an increased focus on the level of participation that students will experience to
make the subject feel more inclusive.
• A key strength of this unit is the ability to link the material to real world experience and examples,
this is going to continue as student valued this aspect.
If you wish to view how previous students rated this unit, please go to
[Link]
2
Academic Overview
Learning Outcomes
The learning goals associated with this unit are to:
1. understand the theoretical foundations of economics
2. understand generic skills essential for progression to upper level units by applying rigorous
thinking and understanding to analytical geometric models
3. appreciate economics as an evolutionary science and its ability to address, in a microeconomic
framework, the persistent social and economic problems confronted by society
4. demonstrate in individual summative assessment tasks the acquisition of a comprehensive
understanding of the topics covered in this unit.
3
Unit Schedule
Week Activities Assessment
0 Orientation Week. The Moodle site for this unit will be Online Resources posted on Moodle site
available to students in week 0. Familiarise yourself (No formal assessment is undertaken
with the Moodle site of the unit and look at the online based on contents of week 0)
resources.
1 What is economics? Chapters 1 & 2
2 Interdependence and the gains from trade Chapter 3
3 Market forces of supply and demand Chapter 4
4 Elasticity and its applications Chapter 5
5 Supply, demand and government policies & Public Chapters 6 & 11
goods and common resources
6 Consumer, producers and the efficiency of markets & Chapters 7 & 8
Application: The costs of taxation
7 Applications: International trade & Externalities Chapters 9 & 10
8 Mid-term test
9 Costs of Production, Firms in Competitive Markets Chapter 13 & 14
10 Monopoly Chapter 15
11 Monopolistic competition, Oligopoly Chapter 16 & 17
12 Linking it all together. Information about exams and
revisions
SWOT VAC No formal assessment is undertaken
SWOT VAC
Examination period LINK to Assessment Policy:
[Link]
academic/education/assessment/
[Link]
Teaching Approach
Lecture and tutorials or problem classes
This teaching and learning approach provides facilitated learning, practical exploration and peer learning.
This unit is valued at 6 credit points and requires 12 hours study each week. The total time commitment
expected from students in this unit is 144 hours. This includes time spent in preparing for and completing
assessment tasks, and time spent in general study, revision, and examination preparation.
On campus students are expected to attend all lectures and tutorials and participate in class discussions.
The essential reading for this unit is the relevant chapters of the prescribed textbook. It is important that
you have access to and use the textbook. There are, of course, other texts that cover similar material.
Your campus Unit Coordinator will be happy to advise on other texts if you wish to broaden your reading.
However, additional readings must be regarded as supplementary, not as an alternative to the set
textbooks.
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Unit Schedule
Assessment Summary
Within semester assessment: 40%
Examination: 60%
Assessment Task Value Due Date
Tutorial Test 1 5% Held in Tutorials during week 3
Tutorial test 2 5% Held in Tutorials in week 6
Mid-term test 20% Held during week 8, Location and date to be
announced
Tutorial test 3 10% Held in Tutorials in week 10
Examination 1 60% of total assessment To be advised
Hurdle Requirements
There is a hurdle requirement in this unit.
The learning outcomes in this unit require students to demonstrate in the individual summative
assessment task a comprehensive understanding of the topics covered in the unit. This is demonstrated
by the requirement that the student must attain a mark of at least 40% in the final summative
assessment task and 50% overall.
A student’s final mark is normally the sum of the marks obtained in all of the individual assessment items
in the unit. Where a student fails the unit solely because of failure to satisfy the hurdle requirement a
mark of 48 will be returned for the unit.
Refer to faculty website for full details:
[Link]
Second marking
Where an assessment task is given a fail grade by an examiner, that piece of work will be marked again
by a second examiner who will independently evaluate the work, and consult with the first marker. No
student will be awarded a fail grade for an assessment task or unit without a second examiner confirming
the result.
Note: Exceptions to this are individual pieces of assessment contributing 10% or less of the final mark,
unless the total of such pieces exceeds 30% of the final mark.
Return of final marks
Faculty policy states that 'the final mark that a student receives for a unit will be determined by the Board
of Examiners on the recommendation of the Chief Examiner taking into account all aspects of
assessment'.
The final mark for this unit will be released by the Board of Examiners on the date nominated in the
Faculty Calendar. Student results will be accessible through the [Link] portal.
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Unit Schedule
Exam viewing
The faculty policy is available at:
[Link]
and the specific department arrangements for Marketing are detailed at:
[Link]
Assessment criteria
Assessment Criteria Grading Descriptors available at:
[Link]
6
Assessment Requirements
Assessment Tasks
• Assessment task 1
Title:
Tutorial Test 1
Due date:
Held in Tutorials during week 3
Details of task:
One of the questions posted on moodle will be tested within a student’s tutorial. The test is
15 Minutes closed book. Diagrams and definitions should be used where possible.
Students must go to their allocated class.
Questions will be posted on Moodle for student to access ahead of time
Weighting/Value:
5%
Estimated return date:
Week 5
Learning objectives assessed:
week 1
Additional information:
Special Consideration: applications for special consideration for within semester
assessment must be submitted to the lecturer at your campus no later than two (2)
university working days after the test. Please check eligibility requirements carefully. See
[Link]
• Assessment task 2
Title:
Tutorial test 2
Due date:
Held in Tutorials in week 6
Details of task:
One of the questions posted on moodle will be tested within a student’s tutorial. The test is
15 Minutes closed book. Diagrams and definitions should be used where possible.
Students must go to their allocated class.
Questions will be posted on Moodle for student to access ahead of time
Weighting/Value:
5%
Estimated return date:
week 8
Learning objectives assessed:
weeks 2 - 4
Additional information:
Special Consideration: applications for special consideration for within semester
assessment must be submitted to the lecturer at your campus no later than two (2)
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Assessment Requirements
university working days after the test. Please check eligibility requirements carefully. See
[Link]
• Assessment task 3
Title:
Mid-term test
Due date:
Held during week 8, Location and date to be announced
Details of task:
Multiple choice test: the test will contain 40 multiple choice question. Students will have 60
minutes to complete the test. The test will target learning objectives from week 1-6.
Weighting/Value:
20%
Estimated return date:
week 10
Learning objectives assessed:
Weeks 1 -6
Additional information:
Special Consideration: applications for special consideration for within semester
assessment must be submitted to the lecturer at your campus no later than two (2)
university working days after the test. Please check eligibility requirements carefully. See
[Link]
• Assessment task 4
Title:
Tutorial test 3
Due date:
Held in Tutorials in week 10
Details of task:
One of the questions posted on moodle will be tested within a student’s tutorial. The test is
15 Minutes closed book. Diagrams and definitions should be used where possible.
Students must go to their allocated class.
Questions will be posted on Moodle for student to access ahead of time
Weighting/Value:
10%
Estimated return date:
week 12
Learning objectives assessed:
weeks 6 and 7
Additional information:
Special Consideration: applications for special consideration for within semester
assessment must be submitted to the lecturer at your campus no later than two (2)
university working days after the test. Please check eligibility requirements carefully. See
[Link]
8
Assessment Requirements
Examination(s)
• Examination 1
Weighting:
60% of total assessment
Length:
3 hours
Type (open/closed book):
Closed book
Hurdle requirements:
There is a hurdle requirement in this unit.
The learning outcomes in this unit require students to demonstrate in the individual
summative assessment task a comprehensive understanding of the topics covered in the
unit. This is demonstrated by the requirement that the student must attain a mark of at
least 40% in the final summative assessment task and 50% overall.
A student’s final mark is normally the sum of the marks obtained in all of the individual
assessment items in the unit. Where a student fails the unit solely because of failure to
satisfy the hurdle requirement a mark of 48 will be returned for the unit.
Refer to faculty website for full details:
[Link]
Electronic devices allowed in the exam:
None
Remarks:
The examination is a closed book examination. calculators are allowed. No material may
be brought in to the examination.
Past examination papers are available from the Monash Library. There is a link to past
exams from the Moodle site.
Learning resources
Monash Library Unit Reading List (if applicable to the unit)
[Link]
Feedback to you
Types of feedback you can expect to receive in this unit are:
• Informal feedback on progress in labs/tutes
• Graded assignments with comments
• Test results and feedback
• Other: Students may email/phone their campus Unit Coordinator/tutors with any issues
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Assessment Requirements
Extensions and penalties
Applications for an extension of time allocated to an assessment task must be made by completing the
application form found at URL. [Link] The
form must be submitted to the Chief Examiner for approval.
For more information regarding extensions of time, please refer to
[Link]
Returning assignments
We aim to return assignment within three weeks of the due date.
Resubmission of assignments
There is no provision for resubmission of assignments in this unit.
Referencing requirements
Students are required to meet the Q Manual standards for all assignment submissions. This includes
using the Q Manual in-text method for citation of sources, referencing and formatting essays and
reports.
The Q Manual can be accessed at:
[Link]
Assignment submission
Hard copy submission
There is no provision for submitting assignments via Moodle in this unit.
Hard Copy Submission: Assignments must include a cover sheet. The coversheet is accessible via the
Monash portal page located at [Link] under the heading ‘Learning and teaching tools.’
Please keep a copy of tasks completed for your records.
Students should submit their assignments in the designated assignment submission box on each
campus. Check with your lecturer for the location of these submission boxes.
Online submission
There is no electronic submission of assignments in this unit
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Assessment Requirements
Required Resources
Prescribed Textbook
N. Gregory Mankiw et. al., (2013) Principles of Economics, Asian Edition, 2nd Edition, Cengage Learning
Asia Pte Ltd.
Recommended Resources
The Prescribed Text is sufficient to complete your study of this unit. If you find some area of the
Prescribed Text difficult to understand, you may want to consult an alternative text.
All standard textbooks in microeconomics and macroeconomics generally cover the same principles and
ideas. The major difference between them is in their depth of explanation and their use of practical
examples and applications of concepts.
Please contact your unit coordinator for advice in choosing additional reading if required.
Additional subject costs
Students are advised to have their own copy of text book.
Examination material or equipment
The examination is a closed book examination. No calculators are allowed. No material may be brought
in to the examination.
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Other Information
Policies
Monash has educational policies, procedures and guidelines, which are designed to ensure that staff and
students are aware of the University’s academic standards, and to provide advice on how they might
uphold them. You can find Monash’s Education Policies at:
[Link]/policy-bank/academic/education/[Link]
Key educational policies include:
• Student Academic Integrity Policy and Student Academic Integrity: Managing Plagiarism and
Collusion Procedures ;
• Assessment in Coursework Programs;
• Special Consideration;
• Grading Scale;
• Discipline: Student Policy;
• Academic Calendar and Semesters;
• Orientation and Transition; and
• Academic and Administrative Complaints and Grievances Policy.
Graduate Attributes Policy
[Link]
education/management/[Link]
Student Charter
[Link]/ep/student-charter/[Link]
Student services
The University provides many different kinds of support services for you. Contact your tutor if you need
advice and see the range of services available at [Link]
You can also access important information from the Faculty of Business and Economics current students
page [Link]
Caulfield and Clayton students wishing to further develop English language skills in a fun group
environment can join a Conversational English Program. You can access these programs at
[Link]
Monash University Library
The Monash University Library provides a range of services, resources and programs that enable you to
save time and be more effective in your learning and research. Go to [Link] or the
library tab in [Link] portal for more information.
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Other Information
Moodle 2
All unit and lecture materials, plus other information of importance to students, are available through the
virtual learning environment Moodle site. You can access Moodle via the [Link] portal.
Where to go for help
If you're stuck, confused or simply not sure how to approach Moodle, there are a number of Moodle
resources that you can tap into.
Disability Liaison Unit
Students who have a disability or medical condition are welcome to contact the Disability Liaison Unit to
discuss academic support services. Disability Liaison Officers (DLOs) visit all Victorian campuses on a
regular basis.
• Website: [Link]
• Telephone: 03 9905 5704 to book an appointment with a DLO;
• Email: dlu@[Link]
• Drop In: Equity and Diversity Centre, Level 1, Building 55, Clayton Campus.
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