ECON101 Introductory Microeconomics

Updated: 26 October 2017
Credit Points 6
Offering
Responsible Campus Teaching Period Mode of Study
Armidale Trimester 1 Online
Armidale Trimester 1 On Campus
Armidale Trimester 3 Online
Intensive School(s) None
Supervised Exam There is a UNE Supervised Examination held at the end of the teaching period in which you are enrolled.

Pre-requisites None
Co-requisites None
Restrictions None
Notes None
Combined Units None
Coordinator(s)
Unit Description

In this unit students learn the relevance and practicality of economics to decision making and develop the analytical skills to understand real-world business and policy issues. The core microeconomic principles covered enable students to understand key concepts such as how markets work (demand, supply, elasticities, economic efficiency, market structures) how firms make production decisions (technology, production and costs), the role of government in markets (market failure) and international trade and trade policies (comparative advantage, tariffs, quotas). Students are introduced to fundamental macroeconomic indicators and the role of stabilisation policies. Contemporary examples are used to contextualise key concepts.

Prescribed Material
Mandatory

Text(s):

Note: Students are expected to purchase prescribed material. Please note that textbook requirements may vary from one teaching period to the next.

Microeconomics

ISBN: 9781488612497
Hubbard, G., Garnett, A., Lewis, P. and O'Brien, T., Pearson 4th ed. 2017

Text refers to: Trimester 1, On Campus and Online

Disclaimer Unit information may be subject to change prior to commencement of the teaching period.
Assessment
Must
Complete
Title Exam Length Weight Mode No. Words
Compulsory 4 Quizzes 20% On Campus and Online
Assessment Notes

Word length is not applicable owing to the numerical/graphical nature of the questions.

Relates to Learning Outcomes (LO)

LO: 1-5

Compulsory Assignment 1 30% On Campus and Online 1500
Assessment Notes

Short answer questions.

Relates to Learning Outcomes (LO)

LO: 1-5

Compulsory Tutorials 0% On Campus
Assessment Notes

On campus students must attend and participate in at least 8 tutorials.

Relates to Learning Outcomes (LO)

LO: 1-5

Compulsory Final Examination 2 hrs 15 mins 50% On Campus and Online
Assessment Notes

Students must obtain at least 50% in the exam (and at least 50% overall) to receive a pass (or better) in the unit.

Relates to Learning Outcomes (LO)

LO: 1-5


Learning Outcomes (LO) Upon completion of this unit, students will be able to:
  1. demonstrate a foundational understanding of the key concepts and principles in economics and their application to decision making relevant to real-world business and policy issues;
  2. demonstrate proficiency in analysing graphical and mathematical material;
  3. use a range of cognitive and communication skills to identify, evaluate and synthesise relevant information drawn from a range of sources in order to demonstrate judgement, creative thinking and analytical skills in solving business-related problems;
  4. work independently and/or collaboratively to plan and execute tasks to enhance professional knowledge and skills; and
  5. demonstrate the ability to recognise, reflect on, and respond appropriately to a range of ethical issues involved in economics in influencing the practice of business.