Overview
ECON 367 (Intermediate Microeconomics II) helps you develop a deeper understanding of the principles you learned about in introductory microeconomics, as well as new principles and applications that you did not encounter in Intermediate Microeconomics I. Intermediate microeconomics courses are the most important courses for a student majoring in economics. Since intermediate microeconomics is relevant to managerial decision-making and public policy analysis, it is vitally important to those who want to study the applied fields of economics or business. Even for general citizens, the topics covered in this course are important tools for understanding day-to-day economic conditions as reported in mass media.
Intermediate microeconomics is generally taught in a sequence of two courses. The first course (Intermediate Microeconomics I: ECON 357) focuses on consumer and producer theories in competitive markets. It also includes some discussion of government intervention in competitive market scenarios, especially taxes and subsidies. This second course (Intermediate Microeconomics II: ECON 367) has a wider scope, including non-competitive market models, market failures, risk and uncertainty, general equilibrium analysis and behaviour Economics.
Learning outcomes
After completing this course, you should be able to:
- describe how economic interactions affect general market conditions and explain the outcomes of strategic choices made by economic agents.
- explain the effects of government policies on consumer behaviour, firm decision-making, and market dynamics, applying insights to issues like asymmetric information, externalities, public goods, and redistribution.
- explain the successes and failures of government intervention in the market and articulate the role of public policies.
- explain the characteristics of imperfectly competitive markets, and the concepts of equilibrium and comparative statics analysis.
- discuss the fundamental game theory concepts, and assess the impacts of strategic and cooperative actions.
- explain risk phenomena, and make decisions under risk and imperfect information conditions.
- apply tools such as pricing strategies and present value analysis to inform business decisions.
Evaluation
To receive credit for ECON 367, you must receive a grade of D (50 percent) or better on the Final Examination, and achieve an overall grade of at least D (50 percent) for the entire course. Your final grade is determined by a weighted average of the grades you receive on the activities listed below. The weightings for each of these activities are as follows:
| Activity | Weight |
| Quizzes (4 @ 5% each) | 20% |
| Assignment 1 | 15% |
| Assignment 2 | 15% |
| Final Online Exam | 50% |
| Total | 100% |
The final examination for this course must be requested in advance and written under the supervision of an AU-approved exam invigilator. Invigilators include either ProctorU or an approved in-person invigilation centre that can accommodate online exams. Students are responsible for payment of any invigilation fees. Information on exam request deadlines, invigilators, and other exam-related questions, can be found at the Exams and grades section of the Calendar.
Materials
Digital course materials
Links to the following course materials will be made available in the course:
Pindyck, R. S., & Rubinfeld, D. L. (2017) Microeconomics (9th ed.). Upper Saddle River, NJ: Pearson Education, Inc. The eText version of the text includes Pindyck, R. S., Rubinfeld, D. L., Suslow, V. Y., & Hamilton, J. H. (2017) Study Guide for Microeconomics (9th ed.). Upper Saddle River, NJ: Pearson Education, Inc. ISBN 9780134674551
Physical course materials
The following course materials are included in a course package that will be shipped to your home prior to your course’s start date:
Pindyck, R. S., & Rubinfeld, D. L. (2017). Microeconomics (9th ed.). Upper Saddle River, NJ: Pearson Education, Inc. ISBN 9780134184241
Hamilton, J., & Suslow, V. (2017). Study Guide - Microeconomics (9th ed.). Upper Saddle River, NJ: Pearson Education, Inc. ISBN 9780134741123
Other Resources
All other learning resources will be available online.
Challenge for credit
Overview
The challenge for credit process allows you to demonstrate that you have acquired a command of the general subject matter, knowledge, intellectual and/or other skills that would normally be found in a university-level course.
Full information about challenge for credit can be found in the Undergraduate Calendar.
Evaluation
To receive credit for the ECON 367 challenge registration, you must achieve a grade of at least D (50 percent) on the examination.
Paper Exam (3 hours)
Challenge for credit course registration form