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Introduction to Economics (6 points)


Leader: Associate Professor Ian Wills

Clayton First semester 2003 (Day)
Clayton Second semester 2004 (Day)

Synopsis: Scarcity and social coordination in economic systems. The concepts of demand, costs, and supply. Markets and price determination and the concept of market power. Interactions between the economy and the environment. Costs of market exchange as a barrier to coordination of natural resource use by market signals and incentives. Government planning as an alternative signalling and incentive system.

Assessment: Written assignment (1000 words): 20% + Essay (1250 words): 30% + Examination (2 hours) 50%

Contact Hours: 2 hour lecture/workshop per week

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