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LocationDomesticInternational
China - TUSTN/A
Coffs Harbour
Gold Coast
Lismore
MelbourneN/A
Online
Session2,3,3
Papua New Guinea - IBSU Port Moresby
PerthN/A
SydneyN/A

Unit description

This unit introduces students to an understanding of price formation and market structures, the tools of economic analysis, the behaviour of the consumer, government and the firm and the external and internal forces influencing that behaviour, especially in the current Australian economic environment.

Unit content

Section 1: Microeconomics (Topics 1-3)

Topic 1a: Introduction to Economics

Topic 1b: Market: Demand & Supply

Topic 2a: Markets: Elasticity

Topic 2b: Supply Decisions

Topic 3a: Market structure: Perfect Market & Monopoly

Topic 3b: Market Failure & Government Policy

Section 2: Macroeconomics (Topics 4-6)

Topic 4a: Introduction to Macroeconomics

Topic 4b: The Determinants of Gross Domestic Product

Topic 5a: Money, Credit Creation & Inflation

Topic 5b: The Global Economy

Topic 6: Monetary & Fiscal Policy

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.

On completion of this unit, students should be able to:
1define economics as a discrete field and discuss the major question explored within the discipline
2apply demand and supply analysis to explain how prices and output are determined in different markets
3classify and describe microeconomic reform in contemporary Australia
4summarise the major determinants of the level of economic activity in the macro economy
5recognise the key instruments of macroeconomic policy and describe their role in the Australian economy
6discuss and examine Australia’s performance in the international economy.

On completion of this unit, students should be able to:

  1. define economics as a discrete field and discuss the major question explored within the discipline
  2. apply demand and supply analysis to explain how prices and output are determined in different markets
  3. classify and describe microeconomic reform in contemporary Australia
  4. summarise the major determinants of the level of economic activity in the macro economy
  5. recognise the key instruments of macroeconomic policy and describe their role in the Australian economy
  6. discuss and examine Australia’s performance in the international economy.

Prescribed texts

  • Layton, A, Robinson, T & Irvin B T , 2019, Economics for Today, 6th edn, Cengage Australia, South Melbourne, Victoria. ISBN: 9780170410830.

  • Layton, A, Robinson, T & Irvin B T , 2019, Economics for Today, 6th edn, Cengage Australia, South Melbourne, Victoria. ISBN: 9780170410830.

  • Prescribed text information is not currently available.
Prescribed texts may change in future study periods.

Teaching and assessment

Teaching method
Workshop on-site
Assessment
Quiz20%
Short answers and calculations30%
Exam: open book50%

Teaching method
Lecture online 1 hour (12 weeks)
Tutorial on-site 2 hours (12 weeks)
Assessment
Quiz20%
Short answers and calculations30%
Exam: open book50%

Teaching method
Tutorial on-site 2 hours (12 weeks)
Lecture online 1 hour (12 weeks)
Assessment
Quiz20%
Short answers and calculations30%
Exam: open book50%

Teaching method
Tutorial on-site 2 hours (12 weeks)
Lecture online 1 hour (12 weeks)
Assessment
Quiz20%
Short answers and calculations30%
Exam: open book50%

Teaching method
Lecture online 1 hour (12 weeks)
Tutorial on-site 2 hours (12 weeks)
Assessment
Quiz20%
Short answers and calculations30%
Exam: open book50%

Teaching method
Lecture online 1 hour (12 weeks)
Assessment
Quiz20%
Short answers and calculations30%
Exam: open book50%

Teaching method
Workshop on-site
Assessment
Quiz20%
Short answers and calculations30%
Exam: open book50%

Teaching method
Lecture online 1 hour (12 weeks)
Tutorial on-site 2 hours (12 weeks)
Assessment
Quiz20%
Short answers and calculations30%
Exam: open book50%

Teaching method
Lecture online 1 hour (12 weeks)
Tutorial on-site 2 hours (12 weeks)
Assessment
Quiz20%
Short answers and calculations30%
Exam: open book50%
Notice

Intensive offerings may or may not be scheduled in every session. Please refer to the timetable for further details.

Southern Cross University employs different teaching methods within units to provide students with the flexibility to choose the mode of learning that best suits them. SCU academics strive to use the latest approaches and, as a result, the learning modes and materials may change. The most current information regarding a unit will be provided to enrolled students at the beginning of the study session.

Fee information

Domestic

Commonwealth Supported courses
For information regarding Student Contribution Amounts please visit the Student Contribution Amounts.

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.

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