ECON104-18S2 (C) Semester Two 2018

Introduction to Microeconomics

15 points, 0.1250 EFTS
16 Jul 2018 - 18 Nov 2018

Description

Scarcity, exchange and trade. Market analysis and policy. Consumer choice theory. Theory of the firm. Imperfect competition. Externalities and public goods.

ECON104 aims to:
• Develop economically literate citizens.
• Provide students with experience in basic economic methodology and analysis.
• Introduce students to the process of economic reasoning.
• Enhance students’ ability to critically interpret the economic ‘wisdom’ of the popular media.
• Provide preparation for further study in the subject (specifically with reference to courses at Canterbury).

ECON104 studies microeconomics, which examines theories of how consumers and producers behave and interact in individual markets. The course covers a general study of the workings of markets and a more in depth analysis of the two sides – supply (producers) and demand (consumers). The course also covers issues that do not fit the conventional assumptions of the supply and demand framework.

ECON104 is a prerequisite for ECON207 and 208, both of which are compulsory for students majoring in Economics or Business Economics. ECON104 is also required by NZICA and serves as a prerequisite for management courses.
Mathematics, in the form of simple algebra, will be used to introduce students to formal economic analysis and to complement the graphical and verbal exposition of material.

Learning Outcomes

1. Students will be able to 'think like an economist', and apply basic economic principles such as the role incentives play in people's behaviour.
2. Students will understand the concept of market efficiency, and will be able to analyse the impact of government policies.
3. Students will be able to identify and evaluate occasions when markets function best without direct government involvement.
4. Students will be able to identify and evaluate occasions when markets left on their own are unlikely to result in the best outcomes, and discuss the role of government in these markets.
5. Students will be able to use the theories of economics to describe and explain the behaviour of people and firms.

University Graduate Attributes

This course will provide students with an opportunity to develop the Graduate Attributes specified below:

Critically competent in a core academic discipline of their award

Students know and can critically evaluate and, where applicable, apply this knowledge to topics/issues within their majoring subject.

Restrictions

Timetable 2018

Students must attend one activity from each section.

Lecture A
Activity Day Time Location Weeks
01 Monday 13:00 - 14:00 A3 Lecture Theatre 16 Jul - 26 Aug
10 Sep - 21 Oct
02 Monday 16:00 - 17:00 Meremere 108 Lecture Theatre 16 Jul - 26 Aug
10 Sep - 21 Oct
Lecture B
Activity Day Time Location Weeks
01 Tuesday 13:00 - 14:00 Meremere 108 Lecture Theatre 16 Jul - 26 Aug
10 Sep - 21 Oct
02 Tuesday 16:00 - 17:00 A3 Lecture Theatre 16 Jul - 26 Aug
10 Sep - 21 Oct
Lecture C
Activity Day Time Location Weeks
01 Thursday 13:00 - 14:00 C3 Lecture Theatre 16 Jul - 26 Aug
10 Sep - 21 Oct
02 Thursday 16:00 - 17:00 C3 Lecture Theatre 16 Jul - 26 Aug
10 Sep - 21 Oct
Tutorial A
Activity Day Time Location Weeks
01 Wednesday 10:00 - 11:00 Putaiao Koiora 275 30 Jul - 26 Aug
10 Sep - 21 Oct
02 Wednesday 11:00 - 12:00 Putaiao Koiora 275 30 Jul - 26 Aug
10 Sep - 21 Oct
03 Thursday 12:00 - 13:00 Jack Erskine 315 30 Jul - 26 Aug
10 Sep - 21 Oct
04 Thursday 13:00 - 14:00 Jack Erskine 315 30 Jul - 26 Aug
10 Sep - 21 Oct
05 Thursday 14:00 - 15:00 Jack Erskine 315 30 Jul - 26 Aug
10 Sep - 21 Oct
06 Friday 11:00 - 12:00 Jack Erskine 315 30 Jul - 26 Aug
10 Sep - 21 Oct
07 Friday 12:00 - 13:00 Jack Erskine 315 30 Jul - 26 Aug
10 Sep - 21 Oct

Examination and Formal Tests

Test A
Activity Day Time Location Weeks
01 Wednesday 19:00 - 21:00 C1 Lecture Theatre (22/8)
C2 Lecture Theatre (22/8)
C3 Lecture Theatre (22/8)
20 Aug - 26 Aug

Course Coordinator

Steve Agnew

Assessment

Assessment Due Date Percentage 
Progress Test One 5%
Final Exam 55%
Progress Test Two 5%
Term Test 25%
Tutorial Quizzes 10%

Textbooks

Recommended Reading

McTaggart, Douglas. , Findlay, Christopher., Parkin, Michael; Economics; 7th ed; Pearson Australia, 2013.

This is also the text for ECON105 along with 'The New Zealand Macroeconomy' by S Hickson (Pearson, 2014).

Some very readable books which give a very good introduction to the key ideas in economics include:
"New Ideas from Dead Economists" by Todd Buchholz
"The Undercover Economist" by Tim Harford
"Freakonomics" by Steven Levitt & Stephen Dubner

Indicative Fees

Domestic fee $790.00

International fee $3,350.00

* Fees include New Zealand GST and do not include any programme level discount or additional course related expenses.

For further information see Department of Economics and Finance.

All ECON104 Occurrences