Arts or Social Science. ECON 367 can be used to fulfill the Applied Studies (Business and Administrative Studies) area of study by credential students only.
Prerequisites:
ECON 357: Intermediate Microeconomics I (or equivalent)
Course start date:
If you are a:
Self-funded student: register by the 10th of the month, start on the 1st of the next.
Students registering in grouped study mode are advised that there may be some differences in the evaluation and course materials information indicated below. To obtain the most up-to-date information, contact the Faculty of Business Student Support Centre at 1-800-468-6531.
Students planning to transfer this course to a Professional Accounting designation (i.e., CMA, CGA, CA) are advised that they will be required to achieve a grade higher than the minimum passing grade. See the Professional Accounting Designation website for details.
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.
Outline
Lesson 1: Monopolistic Competition and Oligopoly
Lesson 2: Game Theory and Competitive Strategy
Lesson 3: Markets for Factor Inputs
Lesson 4: Uncertainty and Consumer Behaviour
Lesson 5: Investment, Time, and Capital Markets
Lesson 6: General Equilibrium and Economic Efficiency
Lesson 7: Markets with Asymmetric Information
Lesson 8: Externalities and Public Goods
Lesson 9: Behavioural 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 ofequilibriumandcomparative 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.
To learn more about assignments and examinations, please refer to Athabasca University’s online Calendar.
Materials
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 (eText)
Pindyck, R. S., & Rubinfeld, D. L. (2017). Microeconomics (9th ed.). Upper Saddle River, NJ: Pearson Education, Inc. ISBN 9780134184241 (Print)
Hamilton, J., & Suslow, V. (2017). Study Guide - Microeconomics (9th ed.). Upper Saddle River, NJ: Pearson Education, Inc. ISBN 9780134741123 (Print)
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.
Athabasca University reserves the right to amend course outlines occasionally and without notice. Courses offered by other delivery methods may vary from their individualized study counterparts.