6 points, SCA Band 3, 0.125 EFTSL
Postgraduate - Unit
Refer to the specific census and withdrawal dates for the semester(s) in which this unit is offered.
Faculty
Organisational Unit
Coordinator(s)
Unit guides
Synopsis
This unit explores:
Microeconomics: scarcity, economic choice, economic systems, economic ideology, demand and supply analysis, consumer behaviour and elasticity, costs of production and profit maximisation, and perfect competition and monopoly.
Macroeconomics: aggregate demand and aggregate supply, Keynesian versus Neoclassical approaches, the money market and monetary policy, the government budget deficit and fiscal policy, the foreign exchange market and exchange rate policy, unemployment and inflation, and current and capital accounts.
Outcomes
The learning goals associated with this unit are to:
- develop a basic understanding of the methodology and principles of economics
- develop a basic understanding of micro and macro economics
- present arguments and make decisions in the economic environment.
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 reading, 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)
Prohibitions
ECF5953, ECF9530