ECON101 Introductory Microeconomics

Updated: 25 July 2017
Credit Points 6
Responsible Campus Teaching Period Mode of Study
Armidale Trimester 1 Off Campus
Armidale Trimester 1 On Campus
Armidale Trimester 3 Off Campus
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.

Prescribed Material


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


ISBN: 9781486010226
Hubbard, G., Garnett, A., Lewis, P. and O'Brien, T., Pearson 3rd ed. 2014

Text refers to: Trimester 1 and 3, On and Off Campus

Disclaimer Unit information may be subject to change prior to commencement of the teaching period.
Title Exam Length Weight Mode No. Words
Compulsory 4 Quizzes 20% On/Off Campus
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/Off Campus 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: 2-4

Compulsory Final Examination 2 hrs 15 mins 50% On/Off Campus
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 an in-depth understanding of decision making relevant to real-world business and policy issues;
  2. analyse graphical and mathematical material;
  3. communicate information clearly and concisely using graphical and mathematical formats and economic terminology;
  4. solve and present solutions to basic and sometimes complex problems; and
  5. demonstrate an in-depth understanding of the key concepts and principles in economics.