BUSINESS ECONOMICS
BUS1BUE
2015
Credit points: 15
Subject outline
Economics is the study of human behaviour and in particular the choices that individuals, businesses and governments make to deal with scarcity and the incentives that guide those choices. In this subject you'll learn how demand, supply and equilibrium coordinate the behaviour of individuals and businesses in the market, and how government policy affects those market outcomes. You'll study the decisions that businesses make in determining how much to produce and at what cost. Further, you'll investigate how the market structure affects firms' choices. At the macro level, you will learn how to measure economic activity (including levels of inflation and unemployment) and you'll examine the factors that influence these variables and the impact they have on business.
School: La Trobe Business School
Credit points: 15
Subject Co-ordinator: David Walker
Available to Study Abroad Students: Yes
Subject year level: Year Level 1 - UG
Exchange Students: Yes
Subject particulars
Subject rules
Prerequisites: N/A
Co-requisites: N/A
Incompatible subjects: N/A
Equivalent subjects: N/A
Special conditions: N/A
Learning resources
Readings
| Resource Type | Title | Resource Requirement | Author and Year | Publisher |
|---|---|---|---|---|
| Readings | Economics, Seventh Edition | Preliminary | McTaggart, D, Findlay, C, and Parkin, M. | PEARSON |
| Readings | Economics, Third Edition | Preliminary | Krugman, P. And Wells, R. | WORTH |
| Readings | Principles of Microeconomcs | Preliminary | Gans, J., King S., and Mankiw, G.N. | CENGAGE |
Graduate capabilities & intended learning outcomes
01. Explain (both verbally and in writing) the relationships between macroeconomic variables external to business and their impact on business
- Activities:
- Through enquiry-based learning delivery, students will learn how to critically think and creatively problem solve.
- Related graduate capabilities and elements:
- Creative Problem-solving(Creative Problem-solving)
02. Use models to predict the impact of changing market conditions on the business environment
- Activities:
- Through enquiry-based learning delivery, students will learn how to critically think and creatively problem solve.
- Related graduate capabilities and elements:
- Critical Thinking(Critical Thinking)
- Creative Problem-solving(Creative Problem-solving)
03. Use fundamental economic concepts to suggest solutions to business problems
- Activities:
- Through enquiry-based learning delivery, students will learn how to critically think and creatively problem solve.
- Related graduate capabilities and elements:
- Critical Thinking(Critical Thinking)
04. Analyse the potential impact on business of external impacts using a range of scholarly and news media sources
- Activities:
- Through enquiry-based learning delivery, students will learn how to critically think and creatively problem solve.
- Related graduate capabilities and elements:
- Creative Problem-solving(Creative Problem-solving)
05. Explain fundamental economics concepts using text, diagrams, equations and other media
- Activities:
- Through enquiry-based learning delivery, students will learn how to critically think and creatively problem solve.
- Related graduate capabilities and elements:
- Critical Thinking(Critical Thinking)
Albury-Wodonga, 2015, Semester 2, Day
Overview
Online enrolment: Yes
Maximum enrolment size: N/A
Enrolment information:
Subject Instance Co-ordinator: Suzanne O'Keefe
Class requirements
LectureWeek: 31 - 43
One 1.0 hours lecture per week on weekdays during the day from week 31 to week 43 and delivered via face-to-face.
"Town Hall Meeting"
SeminarWeek: 31 - 43
One 2.0 hours seminar per week on weekdays during the day from week 31 to week 43 and delivered via face-to-face.
"Enquiry Based Learning Session"
Assessments
| Assessment element | Comments | % | ILO* |
|---|---|---|---|
| Group assignment (700 to 1000 words) | 20 | 01, 02, 03, 04, 05 | |
| In class exercises | There will be five such excercises over the semester | 20 | 01, 02, 03, 04, 05 |
| MyEconLab tests (Online assessment) | There will be 5 online tests over the semester | 10 | 02, 03, 05 |
| One Two-hour final examination | 50 | 01, 02, 03, 04, 05 |
Bendigo, 2015, Semester 2, Day
Overview
Online enrolment: Yes
Maximum enrolment size: N/A
Enrolment information:
Subject Instance Co-ordinator: David Walker
Class requirements
SeminarWeek: 31 - 43
One 2.0 hours seminar per week on weekdays during the day from week 31 to week 43 and delivered via face-to-face.
"Enquiry Based Learning Session"
LectureWeek: 31 - 43
One 1.0 hours lecture per week on weekdays during the day from week 31 to week 43 and delivered via face-to-face.
"Town Hall Meeting"
Assessments
| Assessment element | Comments | % | ILO* |
|---|---|---|---|
| Group assignment (700 to 1000 words) | 20 | 01, 02, 03, 04, 05 | |
| In class exercises | There will be five such excercises over the semester | 20 | 01, 02, 03, 04, 05 |
| MyEconLab tests (Online assessment) | There will be 5 online tests over the semester | 10 | 02, 03, 05 |
| One Two-hour final examination | 50 | 01, 02, 03, 04, 05 |
China, 2015, Week 37-52, Day
Overview
Online enrolment: No
Maximum enrolment size: N/A
Enrolment information:
Subject Instance Co-ordinator: David Walker
Class requirements
SeminarWeek: 37 - 52
One 3.0 hours seminar other recurrence on weekdays during the day from week 37 to week 52 and delivered via face-to-face.
Assessments
| Assessment element | Comments | % | ILO* |
|---|---|---|---|
| Group assignment (700 to 1000 words) | 20 | 01, 02, 03, 04, 05 | |
| In class exercises | There will be five such excercises over the semester | 20 | 01, 02, 03, 04, 05 |
| MyEconLab tests (Online assessment) | There will be 5 online tests over the semester | 10 | 02, 03, 05 |
| One Two-hour final examination | 50 | 01, 02, 03, 04, 05 |
China, 2015, Week 08-23, Day
Overview
Online enrolment: Yes
Maximum enrolment size: N/A
Enrolment information:
Subject Instance Co-ordinator: David Walker
Class requirements
SeminarWeek: 08 - 23
One 3.0 hours seminar per week on weekdays during the day from week 08 to week 23 and delivered via face-to-face.
Assessments
| Assessment element | Comments | % | ILO* |
|---|---|---|---|
| Group assignment (700 to 1000 words) | 20 | 01, 02, 03, 04, 05 | |
| In class exercises | There will be five such excercises over the semester | 20 | 01, 02, 03, 04, 05 |
| MyEconLab tests (Online assessment) | There will be 5 online tests over the semester | 10 | 02, 03, 05 |
| One Two-hour final examination | 50 | 01, 02, 03, 04, 05 |
China, 2015, Week 28-31, Day
Overview
Online enrolment: Yes
Maximum enrolment size: N/A
Enrolment information:
Subject Instance Co-ordinator: David Walker
Class requirements
SeminarWeek: 28 - 31
One 3.0 hours seminar per week on weekdays during the day from week 28 to week 31 and delivered via face-to-face.
Assessments
| Assessment element | Comments | % | ILO* |
|---|---|---|---|
| Group assignment (700 to 1000 words) | 20 | 01, 02, 03, 04, 05 | |
| In class exercises | There will be five such excercises over the semester | 20 | 01, 02, 03, 04, 05 |
| MyEconLab tests (Online assessment) | There will be 5 online tests over the semester | 10 | 02, 03, 05 |
| One Two-hour final examination | 50 | 01, 02, 03, 04, 05 |
China, 2015, Semester 1, Day
Overview
Online enrolment: No
Maximum enrolment size: N/A
Enrolment information:
Subject Instance Co-ordinator: David Walker
Class requirements
SeminarWeek: 10 - 22
One 3.0 hours seminar per week on weekdays during the day from week 10 to week 22 and delivered via face-to-face.
Assessments
| Assessment element | Comments | % | ILO* |
|---|---|---|---|
| Group assignment (700 to 1000 words) | 20 | 01, 02, 03, 04, 05 | |
| In class exercises | There will be five such excercises over the semester | 20 | 01, 02, 03, 04, 05 |
| MyEconLab tests (Online assessment) | There will be 5 online tests over the semester | 10 | 02, 03, 05 |
| One Two-hour final examination | 50 | 01, 02, 03, 04, 05 |
China, 2015, Semester 2, Day
Overview
Online enrolment: No
Maximum enrolment size: N/A
Enrolment information:
Subject Instance Co-ordinator: David Walker
Class requirements
SeminarWeek: 31 - 43
One 3.0 hours seminar per week on weekdays during the day from week 31 to week 43 and delivered via face-to-face.
Assessments
| Assessment element | Comments | % | ILO* |
|---|---|---|---|
| Group assignment (700 to 1000 words) | 20 | 01, 02, 03, 04, 05 | |
| In class exercises | There will be five such excercises over the semester | 20 | 01, 02, 03, 04, 05 |
| MyEconLab tests (Online assessment) | There will be 5 online tests over the semester | 10 | 02, 03, 05 |
| One Two-hour final examination | 50 | 01, 02, 03, 04, 05 |
Dandenong, 2015, Semester 2, Day
Overview
Online enrolment: No
Maximum enrolment size: N/A
Enrolment information:
Subject Instance Co-ordinator: David Walker
Class requirements
SeminarWeek: 31 - 43
One 2.0 hours seminar per week on weekdays during the day from week 31 to week 43 and delivered via face-to-face.
TutorialWeek: 31 - 43
One 1.0 hours tutorial per week on weekdays during the day from week 31 to week 43 and delivered via face-to-face.
Assessments
| Assessment element | Comments | % | ILO* |
|---|---|---|---|
| Group assignment (700 to 1000 words) | 20 | 01, 02, 03, 04, 05 | |
| In class exercises | There will be five such excercises over the semester | 20 | 01, 02, 03, 04, 05 |
| MyEconLab tests (Online assessment) | There will be 5 online tests over the semester | 10 | 02, 03, 05 |
| One Two-hour final examination | 50 | 01, 02, 03, 04, 05 |
Dandenong, 2015, Semester 1, Day
Overview
Online enrolment: Yes
Maximum enrolment size: N/A
Enrolment information:
Subject Instance Co-ordinator: David Walker
Class requirements
Lecture/Seminar
One 2.0 hours lecture/seminar per week during the day and delivered via face-to-face.
Tutorial
One 1.0 hours tutorial per week during the day and delivered via face-to-face.
Assessments
| Assessment element | Comments | % | ILO* |
|---|---|---|---|
| Group assignment (700 to 1000 words) | 20 | 01, 02, 03, 04, 05 | |
| In class exercises | There will be five such excercises over the semester | 20 | 01, 02, 03, 04, 05 |
| MyEconLab tests (Online assessment) | There will be 5 online tests over the semester | 10 | 02, 03, 05 |
| One Two-hour final examination | 50 | 01, 02, 03, 04, 05 |
Melbourne, 2015, Semester 1, Day
Overview
Online enrolment: Yes
Maximum enrolment size: N/A
Enrolment information:
Subject Instance Co-ordinator: David Walker
Class requirements
LectureWeek: 10 - 22
One 1.0 hours lecture per week on weekdays during the day from week 10 to week 22 and delivered via face-to-face.
"Town Hall Meeting"
SeminarWeek: 10 - 22
One 2.0 hours seminar per week on weekdays during the day from week 10 to week 22 and delivered via face-to-face.
"Enquiry Based Learning Session"
Assessments
| Assessment element | Comments | % | ILO* |
|---|---|---|---|
| Group assignment (700 to 1000 words) | 20 | 01, 02, 03, 04, 05 | |
| In class exercises | There will be five such excercises over the semester | 20 | 01, 02, 03, 04, 05 |
| MyEconLab tests (Online assessment) | There will be 5 online tests over the semester | 10 | 02, 03, 05 |
| One Two-hour final examination | 50 | 01, 02, 03, 04, 05 |
Melbourne, 2015, Semester 2, Day
Overview
Online enrolment: Yes
Maximum enrolment size: N/A
Enrolment information:
Subject Instance Co-ordinator: David Walker
Class requirements
LectureWeek: 31 - 43
One 1.0 hours lecture per week on weekdays during the day from week 31 to week 43 and delivered via face-to-face.
"Town Hall Meeting"
SeminarWeek: 31 - 43
One 2.0 hours seminar per week on weekdays during the day from week 31 to week 43 and delivered via face-to-face.
"Enquiry Based Learning Session"
Assessments
| Assessment element | Comments | % | ILO* |
|---|---|---|---|
| Group assignment (700 to 1000 words) | 20 | 01, 02, 03, 04, 05 | |
| In class exercises | There will be five such excercises over the semester | 20 | 01, 02, 03, 04, 05 |
| MyEconLab tests (Online assessment) | There will be 5 online tests over the semester | 10 | 02, 03, 05 |
| One Two-hour final examination | 50 | 01, 02, 03, 04, 05 |
Mildura, 2015, Week 37-43, Day
Overview
Online enrolment: Yes
Maximum enrolment size: N/A
Enrolment information:
Subject Instance Co-ordinator: David Walker
Class requirements
LectureWeek: 37 - 43
Two 1.0 hours lecture per week on weekdays during the day from week 37 to week 43 and delivered via face-to-face.
"Town Hall Meeting"
SeminarWeek: 37 - 43
Two 2.0 hours seminar per week on weekdays during the day from week 37 to week 43 and delivered via face-to-face.
"Enquiry Based Learning Learning"
Assessments
| Assessment element | Comments | % | ILO* |
|---|---|---|---|
| Group assignment (700 to 1000 words) | 20 | 01, 02, 03, 04, 05 | |
| In class exercises | There will be five such excercises over the semester | 20 | 01, 02, 03, 04, 05 |
| MyEconLab tests (Online assessment) | There will be 5 online tests over the semester | 10 | 02, 03, 05 |
| One Two-hour final examination | 50 | 01, 02, 03, 04, 05 |
Other Site, 2015, Semester 2, Day
Overview
Online enrolment: No
Maximum enrolment size: N/A
Enrolment information:
Subject Instance Co-ordinator: David Walker
Class requirements
SeminarWeek: 31 - 43
One 3.0 hours seminar other recurrence on weekdays during the day from week 31 to week 43 and delivered via face-to-face.
Assessments
| Assessment element | Comments | % | ILO* |
|---|---|---|---|
| Group assignment (700 to 1000 words) | 20 | 01, 02, 03, 04, 05 | |
| In class exercises | There will be five such excercises over the semester | 20 | 01, 02, 03, 04, 05 |
| MyEconLab tests (Online assessment) | There will be 5 online tests over the semester | 10 | 02, 03, 05 |
| One Two-hour final examination | 50 | 01, 02, 03, 04, 05 |
Shepparton, 2015, Semester 2, Day
Overview
Online enrolment: Yes
Maximum enrolment size: N/A
Enrolment information:
Subject Instance Co-ordinator: Suzanne O'Keefe
Class requirements
LectureWeek: 31 - 43
One 1.0 hours lecture per week on weekdays during the day from week 31 to week 43 and delivered via face-to-face.
"Town Hall Meeting"
SeminarWeek: 31 - 43
One 2.0 hours seminar per week on weekdays during the day from week 31 to week 43 and delivered via face-to-face.
"Enquiry Based Learning Session"
Assessments
| Assessment element | Comments | % | ILO* |
|---|---|---|---|
| Group assignment (700 to 1000 words) | 20 | 01, 02, 03, 04, 05 | |
| In class exercises | There will be five such excercises over the semester | 20 | 01, 02, 03, 04, 05 |
| MyEconLab tests (Online assessment) | There will be 5 online tests over the semester | 10 | 02, 03, 05 |
| One Two-hour final examination | 50 | 01, 02, 03, 04, 05 |
Sydney, 2015, ACN Semester 1, Day
Overview
Online enrolment: No
Maximum enrolment size: N/A
Enrolment information:
Subject Instance Co-ordinator: David Walker
Class requirements
SeminarWeek: 11 - 22
One 3.0 hours seminar other recurrence on weekdays during the day from week 11 to week 22 and delivered via face-to-face.
Assessments
| Assessment element | Comments | % | ILO* |
|---|---|---|---|
| Group assignment (700 to 1000 words) | 20 | 01, 02, 03, 04, 05 | |
| In class exercises | There will be five such excercises over the semester | 20 | 01, 02, 03, 04, 05 |
| MyEconLab tests (Online assessment) | There will be 5 online tests over the semester | 10 | 02, 03, 05 |
| One Two-hour final examination | 50 | 01, 02, 03, 04, 05 |
Sydney, 2015, ACN Semester 2, Day
Overview
Online enrolment: No
Maximum enrolment size: N/A
Enrolment information:
Subject Instance Co-ordinator: David Walker
Class requirements
SeminarWeek: 28 - 39
One 3.0 hours seminar other recurrence on weekdays during the day from week 28 to week 39 and delivered via face-to-face.
Assessments
| Assessment element | Comments | % | ILO* |
|---|---|---|---|
| Group assignment (700 to 1000 words) | 20 | 01, 02, 03, 04, 05 | |
| In class exercises | There will be five such excercises over the semester | 20 | 01, 02, 03, 04, 05 |
| MyEconLab tests (Online assessment) | There will be 5 online tests over the semester | 10 | 02, 03, 05 |
| One Two-hour final examination | 50 | 01, 02, 03, 04, 05 |
Sydney, 2015, ACN Summer Semester, Day
Overview
Online enrolment: Yes
Maximum enrolment size: N/A
Enrolment information:
Subject Instance Co-ordinator: David Walker
Class requirements
SeminarWeek: 45
One 3.0 hours seminar other recurrence on weekdays during the day in week 45 and delivered via face-to-face.
Assessments
| Assessment element | Comments | % | ILO* |
|---|---|---|---|
| Group assignment (700 to 1000 words) | 20 | 01, 02, 03, 04, 05 | |
| In class exercises | There will be five such excercises over the semester | 20 | 01, 02, 03, 04, 05 |
| MyEconLab tests (Online assessment) | There will be 5 online tests over the semester | 10 | 02, 03, 05 |
| One Two-hour final examination | 50 | 01, 02, 03, 04, 05 |
Vietnam, 2015, Semester 1, Day
Overview
Online enrolment: No
Maximum enrolment size: N/A
Enrolment information:
Subject Instance Co-ordinator: David Walker
Class requirements
SeminarWeek: 10 - 22
One 3.0 hours seminar per week on weekdays during the day from week 10 to week 22 and delivered via face-to-face.
Assessments
| Assessment element | Comments | % | ILO* |
|---|---|---|---|
| Group assignment (700 to 1000 words) | 20 | 01, 02, 03, 04, 05 | |
| In class exercises | There will be five such excercises over the semester | 20 | 01, 02, 03, 04, 05 |
| MyEconLab tests (Online assessment) | There will be 5 online tests over the semester | 10 | 02, 03, 05 |
| One Two-hour final examination | 50 | 01, 02, 03, 04, 05 |
Vietnam, 2015, Semester 2, Day
Overview
Online enrolment: No
Maximum enrolment size: N/A
Enrolment information:
Subject Instance Co-ordinator: David Walker
Class requirements
SeminarWeek: 31 - 43
One 3.0 hours seminar per week on weekdays during the day from week 31 to week 43 and delivered via face-to-face.
Assessments
| Assessment element | Comments | % | ILO* |
|---|---|---|---|
| Group assignment (700 to 1000 words) | 20 | 01, 02, 03, 04, 05 | |
| In class exercises | There will be five such excercises over the semester | 20 | 01, 02, 03, 04, 05 |
| MyEconLab tests (Online assessment) | There will be 5 online tests over the semester | 10 | 02, 03, 05 |
| One Two-hour final examination | 50 | 01, 02, 03, 04, 05 |