BUSINESS ECONOMICS

BUS1BUE

2017

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.

SchoolLa Trobe Business School

Credit points15

Subject Co-ordinatorDavid Walker

Available to Study Abroad StudentsYes

Subject year levelYear Level 1 - UG

Exchange StudentsYes

Subject particulars

Subject rules

PrerequisitesN/A

Co-requisitesN/A

Incompatible subjectsN/A

Equivalent subjectsN/A

Special conditionsN/A

Readings

Resource TypeTitleResource RequirementAuthor and YearPublisher
Readings Business Economics for La Trobe UniversityPreliminaryGans J, King S, Stonecash R, Byford M, Libich J and Mankiw, G.N. (2016)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:
Inquiry and Analytical Skills (Critical Thinking,Creative Problem-solving,Inquiry/Research)

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:
Inquiry and Analytical Skills (Critical Thinking,Creative Problem-solving,Inquiry/Research)

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:
Inquiry and Analytical Skills (Critical Thinking,Creative Problem-solving,Inquiry/Research)

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:
Inquiry and Analytical Skills (Critical Thinking,Creative Problem-solving,Inquiry/Research)

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:
Inquiry and Analytical Skills (Critical Thinking,Creative Problem-solving,Inquiry/Research)

Subject options

Select to view your study options…

Start date between: and    Key dates

Albury-Wodonga, 2017, Semester 2, Blended

Overview

Online enrolmentYes

Maximum enrolment sizeN/A

Enrolment information

Subject Instance Co-ordinatorDavid Walker

Class requirements

Problem Based Learning Week: 31 - 43
One 2.0 hours problem based learning per week on weekdays during the day from week 31 to week 43 and delivered via face-to-face.
"In addition, students are expected to undertake between 1 h and 3 h of online learning and assessment activities each week prior to class."

Seminar Week: 33 - 42
One 1.0 hours seminar per week on weekdays during the day from week 33 to week 42 and delivered via video conference.
"These 8 optional classes are in addition to regular classes and designed as general revision and extension sessions. They will be video conferenced from Melbourne."

Assessments

Assessment elementComments% ILO*
One group assignment (750 words per student)20 01, 03, 05
Five in-class exercises Students complete problem based exercises. Equivalent to 500 words.20 01, 03, 05
Five online quizzes Students complete problem based exercises. Equivalent to 250 words.10 03, 05
One final examination (3 h)Part B of the exam used to report on the Graduate Capability of critical thinking. Part C of exam used to report on the Graduate Capability of creative problem solving.50 01, 02, 03, 04, 05

Bendigo, 2017, Semester 2, Blended

Overview

Online enrolmentYes

Maximum enrolment sizeN/A

Enrolment information

Subject Instance Co-ordinatorDavid Walker

Class requirements

Problem Based Learning Week: 31 - 43
One 2.0 hours problem based learning per week on weekdays during the day from week 31 to week 43 and delivered via face-to-face.
"In addition, students are expected to undertake between 1 h and 3 h of online learning and assessment activities each week prior to class."

Seminar Week: 33 - 42
One 1.0 hours seminar per week on weekdays during the day from week 33 to week 42 and delivered via video conference.
"These 8 optional classes are in addition to regular classes and designed as general revision and extension sessions. They will be video conferenced from Melbourne."

Assessments

Assessment elementComments% ILO*
One group assignment (750 words per student)20 01, 03, 05
Five in-class exercises Students complete problem based exercises. Equivalent to 500 words.20 01, 03, 05
Five online quizzes Students complete problem based exercises. Equivalent to 250 words.10 03, 05
One final examination (3 h)Part B of the exam used to report on the Graduate Capability of critical thinking. Part C of exam used to report on the Graduate Capability of creative problem solving.50 01, 02, 03, 04, 05

China, 2017, Semester 2, Blended

Overview

Online enrolmentNo

Maximum enrolment sizeN/A

Enrolment information

Subject Instance Co-ordinatorDavid Walker

Class requirements

Problem Based Learning Week: 31 - 43
One 2.0 hours problem based learning per week on weekdays during the day from week 31 to week 43 and delivered via face-to-face.
"In addition, students are expected to undertake between 1 h and 3 h of online learning and assessment activities each week prior to class."

Assessments

Assessment elementComments% ILO*
One group assignment (750 words per student)20 01, 03, 05
Five in-class exercises Students complete problem based exercises. Equivalent to 500 words.20 01, 03, 05
Five online quizzes Students complete problem based exercises. Equivalent to 250 words.10 03, 05
One final examination (3 h)Part B of the exam used to report on the Graduate Capability of critical thinking. Part C of exam used to report on the Graduate Capability of creative problem solving.50 01, 02, 03, 04, 05

China, 2017, Semester 1, Blended

Overview

Online enrolmentNo

Maximum enrolment sizeN/A

Enrolment information

Subject Instance Co-ordinatorSuzanne O'Keefe

Class requirements

Problem Based Learning Week: 10 - 22
One 2.0 hours problem based learning per week on weekdays during the day from week 10 to week 22 and delivered via face-to-face.
"In addition, students are expected to undertake between 1 h and 3 h of learning and assessment activities each week prior to class."

Assessments

Assessment elementComments% ILO*
One group assignment (750 words per student)20 01, 03, 05
Five in-class exercises Students complete problem based exercises. Equivalent to 500 words.20 01, 03, 05
Five online quizzes Students complete problem based exercises. Equivalent to 250 words.10 03, 05
One final examination (3 h)Part B of the exam used to report on the Graduate Capability of critical thinking. Part C of exam used to report on the Graduate Capability of creative problem solving.50 01, 02, 03, 04, 05

China, 2017, Week 37-52, Blended

Overview

Online enrolmentNo

Maximum enrolment sizeN/A

Enrolment information

Subject Instance Co-ordinatorDavid Walker

Class requirements

Problem Based Learning Week: 37 - 52
One 2.0 hours problem based learning other recurrence on weekdays during the day from week 37 to week 52 and delivered via face-to-face.
"In addition, students are expected to undertake between 1 h and 3 h of online learning and assessment activities each week prior to class."

Assessments

Assessment elementComments% ILO*
One group assignment (750 words per student)20 01, 03, 05
Five in-class exercises Students complete problem based exercises. Equivalent to 500 words.20 01, 03, 05
Five online quizzes Students complete problem based exercises. Equivalent to 250 words.10 03, 05
One final examination (3 h)Part B of the exam used to report on the Graduate Capability of critical thinking. Part C of exam used to report on the Graduate Capability of creative problem solving.50 01, 02, 03, 04, 05

China, 2017, Week 28-31, Blended

Overview

Online enrolmentYes

Maximum enrolment sizeN/A

Enrolment information

Subject Instance Co-ordinatorDavid Walker

Class requirements

Problem Based Learning Week: 28 - 31
One 2.0 hours problem based learning per week on weekdays during the day from week 28 to week 31 and delivered via face-to-face.
"In addition, students are expected to undertake between 1 h and 3 h of online learning and assessment activities each week prior to class."

Assessments

Assessment elementComments% ILO*
One group assignment (750 words per student)20 01, 03, 05
Five in-class exercises Students complete problem based exercises. Equivalent to 500 words.20 01, 03, 05
Five online quizzes Students complete problem based exercises. Equivalent to 250 words.10 03, 05
One final examination (3 h)Part B of the exam used to report on the Graduate Capability of critical thinking. Part C of exam used to report on the Graduate Capability of creative problem solving.50 01, 02, 03, 04, 05

Dandenong, 2017, Semester 1, Blended

Overview

Online enrolmentYes

Maximum enrolment sizeN/A

Enrolment information

Subject Instance Co-ordinatorSuzanne O'Keefe

Class requirements

Problem Based Learning
One 2.0 hours problem based learning per week during the day and delivered via face-to-face.
"In addition, students are expected to undertake between 1 h and 3 h of learning and assessment activities each week prior to class."

Assessments

Assessment elementComments% ILO*
One group assignment (750 words per student)20 01, 03, 05
Five in-class exercises Students complete problem based exercises. Equivalent to 500 words.20 01, 03, 05
Five online quizzes Students complete problem based exercises. Equivalent to 250 words.10 03, 05
One final examination (3 h)Part B of the exam used to report on the Graduate Capability of critical thinking. Part C of exam used to report on the Graduate Capability of creative problem solving.50 01, 02, 03, 04, 05

Dandenong, 2017, Semester 2, Blended

Overview

Online enrolmentNo

Maximum enrolment sizeN/A

Enrolment information

Subject Instance Co-ordinatorDavid Walker

Class requirements

Problem Based Learning Week: 31 - 43
One 2.0 hours problem based learning per week on weekdays during the day from week 31 to week 43 and delivered via face-to-face.
"In addition, students are expected to undertake between 1 h and 3 h of online learning and assessment activities each week prior to class."

Assessments

Assessment elementComments% ILO*
One group assignment (750 words per student)20 01, 03, 05
Five in-class exercises Students complete problem based exercises. Equivalent to 500 words.20 01, 03, 05
Five online quizzes Students complete problem based exercises. Equivalent to 250 words.10 03, 05
One final examination (3 h)Part B of the exam used to report on the Graduate Capability of critical thinking. Part C of exam used to report on the Graduate Capability of creative problem solving.50 01, 02, 03, 04, 05

Melbourne, 2017, Semester 2, Blended

Overview

Online enrolmentYes

Maximum enrolment sizeN/A

Enrolment information

Subject Instance Co-ordinatorDavid Walker

Class requirements

Problem Based Learning Week: 31 - 43
One 2.0 hours problem based learning per week on weekdays during the day from week 31 to week 43 and delivered via face-to-face.
"In addition, students are expected to undertake between 1 h and 3 h of online learning and assessment activities each week prior to class."

Seminar Week: 33 - 42
One 1.0 hours seminar per week on weekdays during the day from week 33 to week 42 and delivered via face-to-face.
"These 8 optional classes are in addition to regular classes and designed as general revision and extension sessions."

Assessments

Assessment elementComments% ILO*
One group assignment (750 words per student)20 01, 03, 05
Five in-class exercises Students complete problem based exercises. Equivalent to 500 words.20 01, 03, 05
Five online quizzes Students complete problem based exercises. Equivalent to 250 words.10 03, 05
One final examination (3 h)Part B of the exam used to report on the Graduate Capability of critical thinking. Part C of exam used to report on the Graduate Capability of creative problem solving.50 01, 02, 03, 04, 05

Melbourne, 2017, Semester 1, Blended

Overview

Online enrolmentYes

Maximum enrolment sizeN/A

Enrolment information

Subject Instance Co-ordinatorSuzanne O'Keefe

Class requirements

Problem Based Learning Week: 10 - 22
One 2.0 hours problem based learning per week on weekdays during the day from week 10 to week 22 and delivered via face-to-face.
"In addition, students are expected to undertake between 1 h and 3 h of learning and assessment activities each week prior to class."

Seminar Week: 13 - 22
One 2.0 hours seminar every three weeks on weekdays during the day from week 13 to week 22 and delivered via face-to-face.
"This optional class is in addition to regular classes and is designed as a general revision session."

Assessments

Assessment elementComments% ILO*
One group assignment (750 words per student)20 01, 03, 05
Five in-class exercises Students complete problem based exercises. Equivalent to 500 words.20 01, 03, 05
Five online quizzes Students complete problem based exercises. Equivalent to 250 words.10 03, 05
One final examination (3 h)Part B of the exam used to report on the Graduate Capability of critical thinking. Part C of exam used to report on the Graduate Capability of creative problem solving.50 01, 02, 03, 04, 05

Melbourne, 2017, Summer, Blended

Overview

Online enrolmentYes

Maximum enrolment sizeN/A

Enrolment information

Subject Instance Co-ordinatorDavid Walker

Class requirements

Problem Based Learning Week: 46
One 2.0 hours problem based learning per week on weekdays during the day in week 46 and delivered via face-to-face.
"In addition, students are expected to undertake between 1 h and 3 h of online learning and assessment activities each week prior to class."

Seminar Week: 48
One 1.0 hours seminar per week on weekdays during the day in week 48 and delivered via face-to-face.
"These 8 optional classes are in addition to regular classes and designed as general revision and extension sessions."

Assessments

Assessment elementComments% ILO*
One group assignment (750 words per student)20 01, 03, 05
Five in-class exercises Students complete problem based exercises. Equivalent to 500 words.20 01, 03, 05
Five online quizzes Students complete problem based exercises. Equivalent to 250 words.10 03, 05
One final examination (3 h)Part B of the exam used to report on the Graduate Capability of critical thinking. Part C of exam used to report on the Graduate Capability of creative problem solving.50 01, 02, 03, 04, 05

Mildura, 2017, Semester 2, Blended

Overview

Online enrolmentYes

Maximum enrolment sizeN/A

Enrolment information

Subject Instance Co-ordinatorDavid Walker

Class requirements

Problem Based Learning Week: 31 - 43
One 2.0 hours problem based learning per week on weekdays during the day from week 31 to week 43 and delivered via face-to-face.
"In addition, students are expected to undertake between 1 h and 3 h of online learning and assessment activities each week prior to class."

Seminar Week: 33 - 43
One 2.0 hours seminar every three weeks on weekdays during the day from week 33 to week 43 and delivered via video conference.
"These 8 optional classes are in addition to regular classes and designed as general revision and extension sessions. They will be video conferenced from Melbourne."

Assessments

Assessment elementComments% ILO*
One group assignment (750 words per student)20 01, 03, 05
Five in-class exercises Students complete problem based exercises. Equivalent to 500 words.20 01, 03, 05
Five online quizzes Students complete problem based exercises. Equivalent to 250 words.10 03, 05
One final examination (3 h)Part B of the exam used to report on the Graduate Capability of critical thinking. Part C of exam used to report on the Graduate Capability of creative problem solving.50 01, 02, 03, 04, 05

Shepparton, 2017, Semester 2, Blended

Overview

Online enrolmentYes

Maximum enrolment sizeN/A

Enrolment information

Subject Instance Co-ordinatorDavid Walker

Class requirements

Problem Based Learning Week: 31 - 43
One 2.0 hours problem based learning per week on weekdays during the day from week 31 to week 43 and delivered via face-to-face.
"In addition, students are expected to undertake between 1 h and 3 h of online learning and assessment activities each week prior to class."

Seminar Week: 33 - 42
One 1.0 hours seminar per week on weekdays during the day from week 33 to week 42 and delivered via video conference.
"These 8 optional classes are in addition to regular classes and designed as general revision and extension sessions. They will be video conferenced from Melbourne."

Assessments

Assessment elementComments% ILO*
One group assignment (750 words per student)20 01, 03, 05
Five in-class exercises Students complete problem based exercises. Equivalent to 500 words.20 01, 03, 05
Five online quizzes Students complete problem based exercises. Equivalent to 250 words.10 03, 05
One final examination (3 h)Part B of the exam used to report on the Graduate Capability of critical thinking. Part C of exam used to report on the Graduate Capability of creative problem solving.50 01, 02, 03, 04, 05

Sydney, 2017, Study Period 3, Blended

Overview

Online enrolmentYes

Maximum enrolment sizeN/A

Enrolment information

Subject Instance Co-ordinatorDavid Walker

Class requirements

Problem Based Learning
One 2.0 hours problem based learning per week on weekdays during the day and delivered via face-to-face.
"In addition, students are expected to undertake between 1 h and 3 h of learning and assessment activities each week prior to class."

Assessments

Assessment elementComments% ILO*
One group assignment (750 words per student)20 01, 03, 05
Five in-class exercises Students complete problem based exercises. Equivalent to 500 words.20 01, 03, 05
Five online quizzes Students complete problem based exercises. Equivalent to 250 words.10 03, 05
One final examination (3 h)Part B of the exam used to report on the Graduate Capability of critical thinking. Part C of exam used to report on the Graduate Capability of creative problem solving.50 01, 02, 03, 04, 05

Sydney, 2017, Study Period 2, Blended

Overview

Online enrolmentYes

Maximum enrolment sizeN/A

Enrolment information

Subject Instance Co-ordinatorDavid Walker

Class requirements

Problem Based Learning Week: 31 - 42
One 2.0 hours problem based learning per week on weekdays during the day from week 31 to week 42 and delivered via face-to-face.
"In addition, students are expected to undertake between 1 h and 3 h of learning and assessment activities each week prior to class."

Assessments

Assessment elementComments% ILO*
One group assignment (750 words per student)20 01, 03, 05
Five in-class exercises Students complete problem based exercises. Equivalent to 500 words.20 01, 03, 05
Five online quizzes Students complete problem based exercises. Equivalent to 250 words.10 03, 05
One final examination (3 h)Part B of the exam used to report on the Graduate Capability of critical thinking. Part C of exam used to report on the Graduate Capability of creative problem solving.50 01, 02, 03, 04, 05

Sydney, 2017, Study Period 1, Blended

Overview

Online enrolmentYes

Maximum enrolment sizeN/A

Enrolment information

Subject Instance Co-ordinatorSuzanne O'Keefe

Class requirements

Problem Based Learning Week: 10 - 22
One 2.0 hours problem based learning per week on weekdays during the day from week 10 to week 22 and delivered via face-to-face.
"In addition, students are expected to undertake between 1 h and 3 h of learning and assessment activities each week prior to class."

Assessments

Assessment elementComments% ILO*
One group assignment (750 words per student)20 01, 03, 05
Five in-class exercises Students complete problem based exercises. Equivalent to 500 words.20 01, 03, 05
Five online quizzes Students complete problem based exercises. Equivalent to 250 words.10 03, 05
One final examination (3 h)Part B of the exam used to report on the Graduate Capability of critical thinking. Part C of exam used to report on the Graduate Capability of creative problem solving.50 01, 02, 03, 04, 05

Vietnam, 2017, Semester 2, Blended

Overview

Online enrolmentNo

Maximum enrolment sizeN/A

Enrolment information

Subject Instance Co-ordinatorDavid Walker

Class requirements

Problem Based Learning Week: 31 - 43
One 2.0 hours problem based learning per week on weekdays during the day from week 31 to week 43 and delivered via face-to-face.
"In addition, students are expected to undertake between 1 h and 3 h of online learning and assessment activities each week prior to class."

Assessments

Assessment elementComments% ILO*
One group assignment (750 words per student)20 01, 03, 05
Five in-class exercises Students complete problem based exercises. Equivalent to 500 words.20 01, 03, 05
Five online quizzes Students complete problem based exercises. Equivalent to 250 words.10 03, 05
One final examination (3 h)Part B of the exam used to report on the Graduate Capability of critical thinking. Part C of exam used to report on the Graduate Capability of creative problem solving.50 01, 02, 03, 04, 05

Vietnam, 2017, Semester 1, Blended

Overview

Online enrolmentNo

Maximum enrolment sizeN/A

Enrolment information

Subject Instance Co-ordinatorSuzanne O'Keefe

Class requirements

Problem Based Learning Week: 10 - 22
One 3.0 hours problem based learning per week on weekdays during the day from week 10 to week 22 and delivered via face-to-face.
"In addition, students are expected to undertake between 1 h and 3 h of learning and assessment activities each week prior to class."

Assessments

Assessment elementComments% ILO*
One group assignment (750 words per student)20 01, 03, 05
Five in-class exercises Students complete problem based exercises. Equivalent to 500 words.20 01, 03, 05
Five online quizzes Students complete problem based exercises. Equivalent to 250 words.10 03, 05
One final examination (3 h)Part B of the exam used to report on the Graduate Capability of critical thinking. Part C of exam used to report on the Graduate Capability of creative problem solving.50 01, 02, 03, 04, 05