Focuses on aspects of microeconomics and macroeconomics of most relevance to managers. The main themes are the market system and what it can accomplish; limitations and failures of markets; government policies and other factors in the macroeconomic environment impacting on business; how issues and government policies with respect to the international economy impact on business. Quantitative analytic techniques for business and economics are introduced and applied.
1 Economics: foundations and models and choices and trade-offs
2 Demand and supply and production and costs
3 Market structures: monopoly and oligopoly
4 Market failure, government intervention and input costs
5 Introduction to macroeconomics
6 Monetary policy
7 Fiscal policy
8 Introduction to statistics for business and economics
9 Introduction to simple linear regression
10 Introduction to multiple linear regression
Unit Learning Outcomes express learning achievement in terms of what a student should know, understand and be able to do on completion of a unit. These outcomes are aligned with the graduate attributes. The unit learning outcomes and graduate attributes are also the basis of evaluating prior learning.
Learning outcomes and graduate attributes
|On completion of this unit, students should be able to:||GA1||GA2||GA3||GA4||GA5||GA6||GA7|
|1||apply microeconomic and macroeconomic theory to understanding the behaviour of consumers, businesses, governments and other organisations||Intellectual rigour||Knowledge of a discipline|
|2||assess the impacts of economic activity on business, society and the natural environment to inform business decisions applying economic tools and concepts||Intellectual rigour||Creativity||Knowledge of a discipline|
|3||evaluate the likely impacts on business of various macroeconomic considerations and government policy settings in an open economy to inform business decisions||Intellectual rigour||Creativity||Knowledge of a discipline|
|4||analyse business and economic data and interpret quantitative analysis to inform business decisions using quantitative analytic techniques.||Intellectual rigour||Knowledge of a discipline|
- Hubbard, RG, Garnett, A, Lewis, P & O'Brien, AP, 2013, Essentials of Economics, 2nd edn, Pearson, NSW. ISBN: 9781442558069.
Teaching and assessment
|Workshop on-site 2 hours (10 weeks)|
New Zealand - MIT
|Workshop online 2 hours (10 weeks)|
Papua New Guinea - Air Niugini
Commonwealth Supported courses
For information regarding Student Contribution Amounts please visit the Student Contribution Amounts.
Commencing 2014 Commonwealth Supported only. Student contribution band: 3
Please check the international course and fee list to determine the relevant fees.