ECON104-24S1 (C) Semester One 2024

Introduction to Microeconomics

15 points

Details:
Start Date: Monday, 19 February 2024
End Date: Sunday, 23 June 2024
Withdrawal Dates
Last Day to withdraw from this course:
  • Without financial penalty (full fee refund): Sunday, 3 March 2024
  • Without academic penalty (including no fee refund): Sunday, 12 May 2024

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.

Restrictions

Timetable 2024

Students must attend one activity from each section.

Lecture A
Activity Day Time Location Weeks
01 Monday 14:00 - 15:00 K1 Lecture Theatre
19 Feb - 31 Mar
22 Apr - 2 Jun
02 Monday 17:00 - 18:00 A1 Lecture Theatre
19 Feb - 31 Mar
22 Apr - 2 Jun
Lecture B
Activity Day Time Location Weeks
01 Tuesday 12:00 - 13:00 K1 Lecture Theatre
19 Feb - 31 Mar
22 Apr - 2 Jun
02 Tuesday 17:00 - 18:00 K1 Lecture Theatre
19 Feb - 31 Mar
22 Apr - 2 Jun
Lecture C
Activity Day Time Location Weeks
01 Thursday 09:00 - 10:00 K1 Lecture Theatre
19 Feb - 31 Mar
22 Apr - 2 Jun
02 Thursday 14:00 - 15:00 K1 Lecture Theatre
19 Feb - 31 Mar
22 Apr - 2 Jun
Tutorial A
Activity Day Time Location Weeks
01 Thursday 12:00 - 13:00 Karl Popper 612
4 Mar - 31 Mar
22 Apr - 2 Jun
02 Wednesday 09:00 - 10:00 E12
4 Mar - 31 Mar
22 Apr - 2 Jun
03 Wednesday 14:00 - 15:00 Ernest Rutherford 460
4 Mar - 31 Mar
22 Apr - 2 Jun
04 Friday 16:00 - 17:00 Rehua 002 Lectorial
4 Mar - 24 Mar
22 Apr - 2 Jun
05 Monday 10:00 - 11:00 Psychology - Sociology 456
4 Mar - 31 Mar
22 Apr - 2 Jun
06 Monday 13:00 - 14:00 Elsie Locke 104A
4 Mar - 31 Mar
22 Apr - 2 Jun
07 Tuesday 09:00 - 10:00 Psychology - Sociology 411
4 Mar - 31 Mar
22 Apr - 2 Jun
08 Tuesday 14:00 - 15:00 Psychology - Sociology 210
4 Mar - 31 Mar
22 Apr - 2 Jun
09 Tuesday 15:00 - 16:00 Psychology - Sociology 210
4 Mar - 31 Mar
22 Apr - 2 Jun
10 Wednesday 10:00 - 11:00 Rehua 530
4 Mar - 31 Mar
22 Apr - 2 Jun
11 Wednesday 12:00 - 13:00 Beatrice Tinsley 112
4 Mar - 31 Mar
22 Apr - 2 Jun
12 Wednesday 16:00 - 17:00 Rehua 427 Technology Workshop
4 Mar - 31 Mar
22 Apr - 2 Jun
13 Monday 09:00 - 10:00 Elsie Locke 104A
4 Mar - 31 Mar
22 Apr - 2 Jun
14 Monday 12:00 - 13:00 Rehua 528
4 Mar - 31 Mar
22 Apr - 2 Jun
15 Tuesday 10:00 - 11:00 A5 Lecture Theatre
4 Mar - 31 Mar
22 Apr - 2 Jun
16 Tuesday 12:00 - 13:00 Meremere 105 Lecture Theatre
4 Mar - 31 Mar
22 Apr - 2 Jun
17 Tuesday 16:00 - 17:00 Karl Popper 612
4 Mar - 31 Mar
22 Apr - 2 Jun
18 Wednesday 15:00 - 16:00 Ernest Rutherford 460
4 Mar - 31 Mar
22 Apr - 2 Jun
19 Monday 16:00 - 17:00 Jack Erskine 235
4 Mar - 31 Mar
22 Apr - 2 Jun
20 Thursday 16:00 - 17:00 James Logie 104
4 Mar - 31 Mar
22 Apr - 2 Jun
21 Monday 11:00 - 12:00 Rehua 005
4 Mar - 31 Mar
22 Apr - 2 Jun
22 Monday 15:00 - 16:00 Ernest Rutherford 460
4 Mar - 31 Mar
22 Apr - 2 Jun
23 Wednesday 13:00 - 14:00 Ernest Rutherford 465
4 Mar - 31 Mar
22 Apr - 2 Jun
24 Tuesday 13:00 - 14:00 Jack Erskine 111
4 Mar - 31 Mar
22 Apr - 2 Jun
25 Wednesday 11:00 - 12:00 Jack Erskine 315
4 Mar - 31 Mar
22 Apr - 2 Jun
26 Friday 12:00 - 13:00 Jack Erskine 446
4 Mar - 31 Mar
22 Apr - 2 Jun

Examination and Formal Tests

Test A
Activity Day Time Location Weeks
01 Tuesday 19:00 - 20:30 K1 Lecture Theatre
25 Mar - 31 Mar
02 Tuesday 19:00 - 20:30 C1 Lecture Theatre
25 Mar - 31 Mar
03 Tuesday 19:00 - 20:30 C2 Lecture Theatre
25 Mar - 31 Mar
04 Tuesday 19:00 - 20:30 C3 Lecture Theatre
25 Mar - 31 Mar
05 Tuesday 19:00 - 20:30 A1 Lecture Theatre
25 Mar - 31 Mar
06 Tuesday 19:00 - 20:30 F3 Lecture Theatre
25 Mar - 31 Mar
Test B
Activity Day Time Location Weeks
01 Monday 19:00 - 20:30 K1 Lecture Theatre
20 May - 26 May
02 Monday 19:00 - 20:30 C1 Lecture Theatre
20 May - 26 May
03 Monday 19:00 - 20:30 C2 Lecture Theatre
20 May - 26 May
04 Monday 19:00 - 20:30 C3 Lecture Theatre
20 May - 26 May
05 Monday 19:00 - 20:30 A1 Lecture Theatre
20 May - 26 May
06 Monday 19:00 - 20:30 A6 Lecture Theatre
20 May - 26 May

Course Coordinator

Steve Agnew

Assessment

Assessment Due Date Percentage 
Tutorial Attendance & Participation 10%
Online Progress Test One 5%
On-Campus Term Test One 25%
Online Progress Test Two 5%
On-Campus Term Test Two 25%
Final Exam 30%

Textbooks / Resources

Recommended Reading

Parkin, M., & Bade, R; Microeconomics ; Pearson, Australia, 2016.

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 $893.00

International fee $4,200.00

* All fees are inclusive of NZ GST or any equivalent overseas tax, 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