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Unit of Study ECON1001 - Economics for Decision Making (2023)

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Unit Snapshot

  • Anti-requisites

      ECO00101 Macroeconomics AND ECO00102 Applied Microeconomics

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

Module 1: Foundations of microeconomics

Module 2: Market structures

Module 3: Market failure and government intervention

Module 4: Foundations of macroeconomics

Module 5: The financial system in Australia

Module 6: Financial market structures

Availabilities

Location Domestic International
China - TUST N/A
Dual Term2
Gold Coast
Term2,4
Term2,4
Melbourne N/A
Term2,4
Online
Term2,4
Term2
Papua New Guinea - IBSU Port Moresby N/A
Term2
Perth N/A
Term2,4
Sydney N/A
Term2,4

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:

apply microeconomic principles and tools to understand and assess the behaviour of consumers, business and governments

apply macroeconomic principles and tools to understand and assess the behaviour of consumers, business and governments

evaluate the likely economic impacts of various micro and macro policy settings.

Prescribed learning resources

Prescribed Texts
  • Hubbard, RG, Garnett, AM, Lewis, P, O’Brien, A, 2020, Essentials of Economics Pearson eText, 4th edn, Pearson Education Australia, Australia. ISBN: 9780655704386.
Prescribed Resources/Equipment

  • Students need access to a computer with a webcam and reliable internet connection, and will be required to complete an onboarding process to verify their identity before attempting the online exam in this unit. (This does not apply to IBSU (PNG) and TUST (Tianjin) students.)

Prescribed Texts
  • Hubbard, RG, Garnett, AM, Lewis, P, O’Brien, A, 2020, Essentials of Economics Pearson eText, 4th edn, Pearson Education Australia, Australia. ISBN: 9780655704386.
Prescribed Resources/Equipment
  • No prescribed resources/equipment.

Prescribed Texts
  • Hubbard, RG, Garnett, AM, Lewis, P, O’Brien, A, 2020, Essentials of Economics Pearson eText, 4th edn, Pearson Education Australia, Australia. ISBN: 9780655704386.
Prescribed Resources/Equipment

  • Students need access to a computer with a webcam and reliable internet connection, and will be required to complete an onboarding process to verify their identity before attempting the online exam in this unit. (This does not apply to IBSU (PNG) and TUST (Tianjin) students.)

Prescribed Learning Resources may change in future Teaching Periods.