Unit description
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.
Unit content
- Economic Foundations, Demand and Supply, Elasticity of Demand
- Production and costs, The Perfectly Competitive Firm and Monopoly
- Economic Efficiency and Labour Markets
- Macroeconomic Foundations, Monetary Policy and Fiscal Policy
- Basic Statistics and Simple Linear Regression
- Multiple Linear Regression
Learning outcomes
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 | |||||
Prescribed texts
Study Period 4
- Hubbard, RG, Garnett, A, Lewis, P & O'Brien, AP, 2015, Essentials of Economics, 3rd edn, Pearson, NSW. ISBN: 9781486022847.
Teaching and assessment
SCU Online (intensive)
| Teaching method |
| Structured online learning _ (_) |
| Assessment | |
| Quiz | 10% |
| Short written response | 25% |
| Short written response | 25% |
| Report | 40% |
Fee information
Domestic
Commonwealth Supported courses
For information regarding Student Contribution Amounts please visit the Student Contribution Amounts.
Commencing 2016 Commonwealth Supported only. Student contribution band: 3
Fee paying courses
For POSTGRADUATE or UNDERGRADUATE full fee paying courses please check Domestic Postgraduate Fees OR Domestic Undergraduate Fees
International
Please check the international course and fee list to determine the relevant fees.