bus1bue business economics
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
Learning resources
Readings
| Resource Type | Title | Resource Requirement | Author and Year | Publisher |
|---|---|---|---|---|
| Readings | Business Economics for La Trobe University | Preliminary | Gans 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…
Albury-Wodonga, 2017, Semester 2, Blended
Overview
Online enrolmentYes
Maximum enrolment sizeN/A
Enrolment information
Subject Instance Co-ordinatorDavid Walker
Class requirements
Problem Based LearningWeek: 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."
SeminarWeek: 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 element | Comments | % | 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 LearningWeek: 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."
SeminarWeek: 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 element | Comments | % | 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 LearningWeek: 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 element | Comments | % | 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 LearningWeek: 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 element | Comments | % | 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 LearningWeek: 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 element | Comments | % | 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 LearningWeek: 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 element | Comments | % | 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 element | Comments | % | 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 LearningWeek: 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 element | Comments | % | 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 LearningWeek: 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."
SeminarWeek: 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 element | Comments | % | 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 LearningWeek: 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."
SeminarWeek: 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 element | Comments | % | 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 LearningWeek: 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."
SeminarWeek: 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 element | Comments | % | 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 LearningWeek: 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."
SeminarWeek: 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 element | Comments | % | 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 LearningWeek: 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."
SeminarWeek: 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 element | Comments | % | 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 element | Comments | % | 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 LearningWeek: 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 element | Comments | % | 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 LearningWeek: 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 element | Comments | % | 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 LearningWeek: 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 element | Comments | % | 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 LearningWeek: 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 element | Comments | % | 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 |