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Unit of Study ECON5003 - Economics (2024)

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Unit Snapshot

  • Enrolment information

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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 business; how issues and government policies with respect to the international economy impact on business.

Unit content

Module 1: Foundations of microeconomics
Module 2: Market structures
Module 3: Market failure and government intervention
Module 4: Found of macroeconomics
Module 5: Government policy instruments
Module 6: Financial market structures

Availabilities

Location Domestic International
Gold Coast
Term3
Term3
Melbourne
Term3
Term3
Online
Term3
Term3
Perth
Term3
Term3
Sydney
Term3
Term3

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:

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

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

analyse and 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, 2021, Essentials of Economics, 5th edn, Pearson, Australia. ISBN: 9780655702870 (print version); 9780655705833 (eBook).
Prescribed Resources/Equipment

  • Access to a computer with a webcam and reliable internet connection.

Prescribed Learning Resources may change in future Teaching Periods.