6 points, SCA Band 3, 0.125 EFTSL
Undergraduate - Unit
Refer to the specific census and withdrawal dates for the semester(s) in which this unit is offered.
- First semester 2019 (On-campus)
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The unit introduces students to the study of economics from a microeconomic perspective. Fundamental principles of microeconomics will be applied to the analysis of consumer behaviour, demand and supply and the operation of markets, market efficiency and welfare, welfare effects of international trade, public sector economics, the behaviour of firms and the organisation of an industry, and market structures. This unit also discusses the reasons for economic regulation and competition policy.
The learning goals associated with this unit are to:
- understand the theoretical foundations of economics, and the generic skills essential for progression to upper level units by applying rigorous thinking and understanding to analytical geometric models
- identify and explain economic systems and the concept of resource allocation, and the role of individuals and businesses in markets
- discuss the implementation of economic policy in a microeconomic framework, and the ability of economics as an evolutionary science to address the persistent social and economic problems confronted by society
- recognise regulatory and political environments and how they impact on business
- demonstrate in individual summative assessment tasks the acquisition of a comprehensive understanding of the topics covered in this unit.
Within semester assessment: 40% + Examination: 60%
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 readings, 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