ECC1000 Introduction to Microeconomics / ECF5923 Principles of Microeconomics


Difficulty:

Year Completed: Semester 2, 2020

Prerequisite: N/A

 

 Exemption:

CB2 Business Economics

ECC1000 (55%), ECC1100 (45%)

Weighted average of 70% required. Minimum of 60% required for each unit.


Mean Setu Score: 89.14%

 

Clarity of Learning Outcomes: 94.5%

Clarity of Assessments: 95.5%

Feedback: 76.26%

Resources: 93.03%

Engagement: 85.57%

Satisfaction: 90% 


Subject Content:

Lecture(s) and Tutorial(s):

Textbook:

Assessments:

 

This unit is quite fun and easy to understand. The topics covered

in this unit are the foundations of economics, supply and demand,

elasticity, price controls, tax incidence, business costs, competitive

markets, monopolies and oligopolies, consumer choice and

behavioural economics.

1 x 2-hour lectures

1 x 1 hour tutorial

 

Principles of Microeconomics, Covid-19 Update, THIRD EDITION; Dirk Mateer, Lee Coppock   - Has helpful questions, but is Included in InQuizitive

 

InQuizitive (15%)

Post Tutorial Quiz (5%)

Mid-Semester Exam (20%)

Final Exam (60%)

 


Comments

This unit provides a comprehensive explanation of introductory

microeconomics. The concepts are simple in nature and are

supported with real life examples or even clips from shows to

demonstrate how they are applicable. The assessments

throughout the semester are not difficult but require consistency

(they are easy marks). To do well in the final however, a very in

depth and strong understanding of the content is required.

 

The lectures were very engaging. There were in-person and live

streamed, and a recording was uploaded to Moodle every week.

There are interactive aspects of the lecture like the Kahoot at the

end – which make in-person attendance more enjoyable opposed

to watching the livestream. The lectures are structured such that

there is an example or clip after every concept that is taught. This

was quite beneficial as is made it easier to understand a concept

when it is applied immediately. Doing the InQuizitive every week

was a great refresher for the topics – and completing this on time

is essentially like free marks. Trying to understand the content

without the lectures in doable – but it is much easier to watch the

lectures.

The tutorials started in week 1 and are 1 hour long. There are

weekly tutorial questions that are done in the tutorial – generally

in groups. The solutions to these questions are explained by the

tutor, however not all the questions are covered in the tutorial.

There is also a Kahoot at the end of the tutorial. The solutions to

the tutorial questions are released on Moodel, but having the

tutor explain the solution opposed to reading in your own time is

beneficial in understanding. Tutorial attendance in not

compulsory – but is recommended

InQuizitive (15%)

-        Every week after the lecture

-        Very simple

-        Can be repeated until 100% mark is achieved

Post Tutorial Quiz (5%)

-        5-6 multiple choice questions

-        1 mark for every correct answer and 0.5 marks for every incorrect answer

-        66 marks in total, but only 55 are required to achieved 100% for this section, meaning that you can miss up to 3 quizzes in the semester (not recommended but there is a buffer)

Mid-Semester Exam (20%)

-        20 multiple choice questions

-        1 mark for every correct answer and 0.5 marks for every incorrect answer

-        There is plenty of practice material on Moodle – and the actual test is very similar to those

Final Exam (60%)

-        Covers whole unit content

-        A mix of Multiple choice and short answer questions

-        Is much harder in difficulty than the mid-sem

-        Attempting questions from the textbook and attempting additional resources will be beneficial for a more in-depth understanding

The final exam is the only exam in this unit. It is 2hrs and 10 min

in length. A calculator and 2 sheets of blank paper are permitted.

The exam evenly covers the content of the whole unit. The

questions are of greater difficulty than the mid-sem and the

weekly tutorial questions. So attempting a variety of questions

from the textbook additionally would be beneficial.

 

Overall this unit is really enjoyable. Content is not too difficult, but

attempt a variety of questions and be detail oriented - this is

required to do well in the final exam.

General Overview:

Lectures:

Tutorials:

Assessments/Other Assessments

Exams

Concluding Remarks