Availabilities:

2021 unit offering information will be available in September 2020

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 1-6)
Topic 1: Introduction to Economics    
Topic 2: Market: Demand & Supply
Topic 3: Markets: Elasticity
Topic 4: Supply Decisions
Topic 5: Market structure: Perfect Market & Monopoly
Topic 6: Market Failure & Government Policy

Section 2: Macroeconomics (Topics 7-11)
Topic 7: Introduction to Macroeconomics
Topic 8: The Determinants of Gross Domestic Product
Topic 9: Money, Credit Creation & Inflation
Topic 10: The Global Economy
Topic 11: 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.

GA1: Intellectual rigour, GA2: Creativity, GA3: Ethical practice, GA4: Knowledge of a discipline, GA5: Lifelong learning, GA6: Communication and social skills, GA7: Cultural competence
On completion of this unit, students should be able to:GA1GA2GA3GA4GA5GA6GA7
1define economics as a discrete field and discuss the major question explored within the disciplineIntellectual rigourKnowledge of a disciplineLifelong learning
2apply demand and supply analysis to explain how prices and output are determined in different marketsKnowledge of a disciplineLifelong learning
3classify and describe microeconomic reform in contemporary AustraliaKnowledge of a discipline
4summarise the major determinants of the level of economic activity in the macro economyIntellectual rigourKnowledge of a disciplineLifelong learning
5recognise the key instruments of macroeconomic policy and describe their role in the Australian economyIntellectual rigourKnowledge of a discipline
6discuss and examine Australia’s performance in the international economy.Knowledge of a discipline

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
    • GA1: Intellectual rigour
    • GA4: Knowledge of a discipline
    • GA5: Lifelong learning
  2. apply demand and supply analysis to explain how prices and output are determined in different markets
    • GA4: Knowledge of a discipline
    • GA5: Lifelong learning
  3. classify and describe microeconomic reform in contemporary Australia
    • GA4: Knowledge of a discipline
  4. summarise the major determinants of the level of economic activity in the macro economy
    • GA1: Intellectual rigour
    • GA4: Knowledge of a discipline
    • GA5: Lifelong learning
  5. recognise the key instruments of macroeconomic policy and describe their role in the Australian economy
    • GA1: Intellectual rigour
    • GA4: Knowledge of a discipline
  6. discuss and examine Australia’s performance in the international economy.
    • GA4: Knowledge of a discipline

Teaching and assessment

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.
Commencing 2021 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.

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