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Location Domestic International
SCU Online Study Period 1,  5 Study Period 1,  5

Unit Summary

Unit type

PG Coursework Unit

Credit points

12

AQF level

8

Level of learning

Intermediate

Anti-requisites

ECO82001 - Economics and Quantitative Analysis AND - Economics and Quantitative Analysis for Accountants (Online)

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. Economic Foundations, Statistics for Economists, Demand and Supply
  2. Production and costs, the Perfectly Competitive Firm and Monopoly
  3. Externalities, Public Goods and the Public Sector
  4. Gross Domestic Product, Unemployment and Inflation
  5. Simple Linear Regression
  6. 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

  • Students are encouraged to purchase the online version of the text, which includes Wilely Learning Space (WLS) (http://www.wileydirect.com.au/buy/principles-of-economics-2nd-australian-edition/). WLS includes an electronic version of the text plus additional videos and animations of key economics concepts (for additional details refer to MySCU). Otherwise, you can purchase the print version : Stiglitz JE, Walsh CE, Gow J, Guest R, Richmond W, Tani M. , 2016, Principles of Economics, Second Edition, Wiley, Queensland Australia. ISBN: 978-0-7303-1985-6.

  • Students are encouraged to purchase the online version of the text, which includes Wilely Learning Space (WLS) (http://www.wileydirect.com.au/buy/principles-of-economics-2nd-australian-edition/). WLS includes an electronic version of the text plus additional videos and animations of key economics concepts (for additional details refer to MySCU). Otherwise, you can purchase the print version : Stiglitz JE, Walsh CE, Gow J, Guest R, Richmond W, Tani M. , 2016, Principles of Economics, Second Edition, Wiley, Queensland Australia. ISBN: 978-0-7303-1985-6.
Prescribed texts may change in future teaching periods.