Microeconomics: Policy and Applications
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This unit was pretty intensive because I did it over the summer semester. If you stay on top of it, you can do really well. If you know calculus it will definitely help.
Anonymous, Semester 1, 2021
Absolutely great in deeper my understanding in microeconomics. Many concepts and calculations not require calculus, but using calculus is definitely better in understanding of this unit. I do prefer to use calculus rather than the slope the understand MR, MC etc. I do recommend have a bit understanding of calculus to study this unit.
Anonymous, Semester 1, 2020
I took the unit over summer 2018/9 with Ishita. A lot of time is spent going over first year concepts again in the ~20 hours of YouTube lectures, but the new content was quite tricky. Ishita is generally OK at explaining the concepts, but reading the Perloff text (available for free through OneSearch) really helped clear up any misunderstandings. The tutes were two hours twice a week for four weeks in January. One tute was presenting answers in groups to randomly assigned tute questions and getting graded. There is a 20% weighting for this over the 4 weeks so my advice is to meet with your group and discuss the answers before each tute as really high marks are possible if you come prepared. The whole exercise was demanding but helped me massively in wrapping my head around the content. The other tute would start with a 12 straightforward open-book MCQs (10% weighting), and then there would be a "simulation" activity which was a bit of a waste of time. The 2000-word assignment (20%), asking you to apply the unit content to a real-world market was challenging but beneficial in helping you recap what you learnt and showing you how it (somewhat) links to real-life. The exam (50%) was doable but very calc-heavy (rather than requiring a lot of wordy explanations) - plenty of demand and cost equations that needed to be solved for profit etc. This does reflect the very mathematical flavour of the unit. Make sure you understand all the "Something to work on:" bits in the videos. For a "policy and applications" unit it was very technical - all essential knowledge if you want to work in economic research, but unlike ECON1101 the new concepts didn't have much use outside this arena. What real-world aspects covered were mainly the bits recycled from first year. However the unit was definitely well-run by Ishita, and the problem-solving tutes were a particular highlight.
Anonymous, Semester 2, 2018
Great Unit. The content is easy to understand