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Unit of Study ECO82001 - Economics and Quantitative Analysis (2020)

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Unit Snapshot

  • Enrolment information

    N/A

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

1. Economics foundations

2. Statistics for economists

3. Demand, supply and elasticity

4. Profits, costs and factors of production

5. Competitive firm

6. Monopoly

7. Externalities, public goods and the public sector

8. Gross domestic product

9. Unemployment and inflation

10. Simple linear regression

11. Multiple linear regression

Availabilities

Location Domestic International
Melbourne N/A
Session3
Online
Session3
Session3
Perth N/A
Session3
Sydney
Session3
Session3

Learning outcomes and graduate attributes

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:

GA1: Intellectual rigour, GA2: Creativity, GA3: Ethical practice, GA4: Knowledge of a discipline, GA5: Lifelong learning, GA6: Communication and social skills, GA7: Cultural competence
Learning outcome count Learning outcome description GA1 GA2 GA3 GA4 GA5 GA6 GA7
1 apply microeconomic and macroeconomic theory to understanding the behaviour of consumers, businesses, governments and other organisations
2 assess the impacts of economic activity on business, society and the natural environment to inform business decisions applying economic tools and concepts
3 evaluate the likely impacts on business of various macroeconomic considerations and government policy settings in an open economy to inform business decisions
4 analyse business and economic data and interpret quantitative analysis to inform business decisions using quantitative analytic techniques.

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

  1. apply microeconomic and macroeconomic theory to understanding the behaviour of consumers, businesses, governments and other organisations
    • GA1:
    • GA4:
  2. assess the impacts of economic activity on business, society and the natural environment to inform business decisions applying economic tools and concepts
    • GA1:
    • GA2:
    • GA4:
  3. evaluate the likely impacts on business of various macroeconomic considerations and government policy settings in an open economy to inform business decisions
    • GA1:
    • GA2:
    • GA4:
  4. analyse business and economic data and interpret quantitative analysis to inform business decisions using quantitative analytic techniques.
    • GA1:
    • GA4:

Prescribed learning resources

Prescribed Texts
  • No prescribed texts.

Prescribed Learning Resources may change in future Teaching Periods.