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Unit Summary
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 business; how issues and government policies with respect to the international economy impact on business.
Unit content
- Foundations of microeconomics
- Market structures
- Market failure and government intervention
- Found of macroeconomics
- Government policy instruments
- Financial market structures
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: | |
|---|---|
| 1 | critically apply microeconomic principles and tools to understand and assess the behaviour of consumers, business and governments. |
| 2 | critically apply macroeconomic principles and tools to understand and assess the behaviour of consumers, business and governments. |
| 3 | analyse and evaluate the likely economic impacts of various micro and macro policy settings. |
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 texts
- Hubbard, RG, Garnett, AM, Lewis, P, O’Brien, A, 2020, Essentials of Economics Pearson eText, 4th edn, Pearson Education Australia, Australia. ISBN: 9780655704386.