Availabilities:

Location Domestic International
Gold Coast Session 3 Session 3
New Zealand - MIT Session 3 Session 3
Online Session 3 Session 3
Papua New Guinea - Air Niugini N/A Session 3
Sydney N/A Session 3

Unit Summary

Unit type

PG Coursework Unit

Credit points

12

AQF level

8

Level of learning

Intermediate

Unit aim

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 and models and choices and trade-offs
2 Demand and supply and production and costs
3 Market structures: monopoly and oligopoly
4 Market failure, government intervention and input costs
5 Introduction to macroeconomics
6 Monetary policy
7 Fiscal policy
8 Introduction to statistics for business and economics
9 Introduction to simple linear regression
10 Introduction to multiple linear regression

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: , GA2: , GA3: , GA4: , GA5: , GA6: , GA7:
On completion of this unit, students should be able to: 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 texts

  • Hubbard, RG, Garnett, A, Lewis, P & O'Brien, AP, 2013, Essentials of Economics, 2nd edn, Pearson, NSW. ISBN: 9781442558069.
Prescribed texts may change in future teaching periods.