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.
Faculty
Organisational Unit
Coordinator(s)
Professor Chongwoo Choe (First semester)
Dr Vinod Mishra (Second semester)
Unit guides
Synopsis
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.
Outcomes
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.
Assessment
Within semester assessment: 40% + Examination: 60%
Workload requirements
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
Chief examiner(s)
Co-requisites
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.