ECON101 Introductory Microeconomics

Updated: 22 March 2017
Credit Points 6
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
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.

Materials Textbook information will be displayed approximately 8 weeks prior to the commencement of the teaching period. Please note that textbook requirements may vary from one teaching period to the next.
Disclaimer Unit information may be subject to change prior to commencement of the teaching period.
Assessment Assessment information will be published prior to commencement of the teaching period.
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.