6 points, SCA Band 3, 0.125 EFTSL
Undergraduate - Unit
Refer to the specific census and withdrawal dates for the semester(s) in which this unit is offered.
Professor Chongwoo Choe (First semester)
Dr Vinod Mishra (Second semester)
- First semester 2017 (Day)
- Second semester 2017 (Day)
The nature and scope of economics; different economic systems; economic policy analysis and evaluation; main bodies of economic thought; examples of household, business and government economic decision problems; consumer choice, product demand and factor supply; enterprise choice, product supply and factor demand; market analyses of contemporary issues; competitive market long run equilibrium; market power; market failure and concerns for efficiency and equity; government involvement in the Australian economy.
The learning goals associated with this unit are to:
- be familiar with the 'economic way of thinking' about a broad range of individual, business and government choices and decisions
- apply economic principles to explain and analyse Australian economic institutions, economic decisions and performance
- make informed and critical assessment and criticism of the public debate on many economic policy issues
- proceed to the study of other economics units which have an introduction to microeconomics as a prerequisite.
Within semester assessment: 40% + Examination: 60%
Minimum total expected workload to achieve the learning outcomes for this unit is 144 hours per semester typically comprising a mixture of scheduled learning activities and independent study. Independent study may include associated readings, assessment and preparation for scheduled activities. The unit requires on average three/four hours of scheduled activities per week. Scheduled activities may include a combination of teacher directed learning, peer directed learning and online engagement.
See also Unit timetable information
Students must be enrolled in one of the following courses to undertake this unit: 0023, 0169, 0170, 0179, 0542, 0546, 0548, 1185, 1319, 1320, 1469, 2015, 2016, 2017, 2026, 2630, 3050, 3176, 3178, 3804, 3805, 3823, 3830, 3834, 4097, 4403, 4410, 4417, 4419, 4425, 4428, 4615 or 4097.