PRINCIPLES OF ECONOMICS
BUS5POE
2017
Credit points: 15
Subject outline
In this subject you will learn about a number of topical economic concepts and how they can be applied in real-world business and policy-making to make better decisions and improve people's well-being. This includes the main market forces of supply and demand; the choices producers make in regards to their costs; revenues and profit; competitive and monopoly market structures and how these affect market prices; the use of game theory to make more strategic economic decisions; measuring a nation's income and the cost of living; the drivers of economic growth and the causes of unemployment.
School: La Trobe Business School
Credit points: 15
Subject Co-ordinator: Buly Cardak
Available to Study Abroad Students: Yes
Subject year level: Year Level 5 - Masters
Exchange Students: Yes
Subject particulars
Subject rules
Prerequisites: N/A
Co-requisites: N/A
Incompatible subjects: ECO5POE
Equivalent subjects: N/A
Special conditions: N/A
Learning resources
Readings
| Resource Type | Title | Resource Requirement | Author and Year | Publisher |
|---|---|---|---|---|
| Readings | Principles of Economics (6th Edition) | Prescribed | Gans, King, Stonecash, Byford, Libich and Mankiw (2014) | CENGAGE |
Graduate capabilities & intended learning outcomes
01. Understand the economic way of decision-making and apply it in a number of areas of business and policy.
- Activities:
- tutorial group discussions, tutorial presentations, video-interviews, problem sets, online quizzes, final exam
- Related graduate capabilities and elements:
- Inquiry and Analytical Skills(Critical Thinking,Creative Problem-solving,Inquiry/Research)
- Inquiry and Analytical Skills(Critical Thinking,Creative Problem-solving,Inquiry/Research)
02. Analyse and evaluate strategic behaviour of competing economic agents and institutions in various market structures.
- Activities:
- tutorial group discussions, tutorial presentations, video-interviews, problem sets, online quizzes, final exam
- Related graduate capabilities and elements:
- Literacies and Communication Skills(Writing,Speaking,Quantitative Literacy)
- Literacies and Communication Skills(Writing,Speaking,Quantitative Literacy)
- Inquiry and Analytical Skills(Critical Thinking,Creative Problem-solving,Inquiry/Research)
03. Find information through independent research, for example in relation to national income, cost of living, and labour market statistics, for the purpose of describing changes in these measures of the macroeconomy.
- Activities:
- tutorial group discussions, tutorial presentations, video-interviews, problem sets, final exam
- Related graduate capabilities and elements:
- Literacies and Communication Skills(Writing,Speaking,Quantitative Literacy)
- Inquiry and Analytical Skills(Critical Thinking,Creative Problem-solving,Inquiry/Research)
04. Interact effectively and constructively with your peers, around issues economic theory and application.
- Activities:
- tutorial group discussions, tutorial presentations, problem sets
- Related graduate capabilities and elements:
- Literacies and Communication Skills(Writing,Speaking,Quantitative Literacy)
- Inquiry and Analytical Skills(Critical Thinking,Creative Problem-solving,Inquiry/Research)
City Campus, 2017, Semester 2, Day
Overview
Online enrolment: Yes
Maximum enrolment size: 90
Enrolment information: max room size TBA
Subject Instance Co-ordinator: Emmanuelle Walkowiak
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.
TutorialWeek: 31 - 43
One 2.0 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* |
|---|---|---|---|
| Online quizzes (750 words equivalency) | 20 | 01, 02, 03, 04 | |
| One 3-hour final examination | 50 | 01, 02, 03, 04 | |
| Open-ended assessment: problem sets (2750 words equivalency) | 30 | 01, 02, 03, 04 |
City Campus, 2017, Semester 1, Day
Overview
Online enrolment: Yes
Maximum enrolment size: 90
Enrolment information: max room size TBA
Subject Instance Co-ordinator: Jan Libich
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.
TutorialWeek: 10 - 22
One 2.0 hours tutorial per week on weekdays during the day from week 10 to week 22 and delivered via face-to-face.
Assessments
| Assessment element | Comments | % | ILO* |
|---|---|---|---|
| Online quizzes (750 words equivalency) | 20 | 01, 02, 03, 04 | |
| One 3-hour final examination | 50 | 01, 02, 03, 04 | |
| Open-ended assessment: problem sets (2750 words equivalency) | 30 | 01, 02, 03, 04 |
City Campus, 2017, Summer, Day
Overview
Online enrolment: Yes
Maximum enrolment size: N/A
Enrolment information:
Subject Instance Co-ordinator: Buly Cardak
Class requirements
LectureWeek: 46
One 1.0 hours lecture per week on weekdays during the day in week 46 and delivered via face-to-face.
TutorialWeek: 46
One 2.0 hours tutorial per week on weekdays during the day in week 46 and delivered via face-to-face.
Assessments
| Assessment element | Comments | % | ILO* |
|---|---|---|---|
| Online quizzes (750 words equivalency) | 20 | 01, 02, 03, 04 | |
| One 3-hour final examination | 50 | 01, 02, 03, 04 | |
| Open-ended assessment: problem sets (2750 words equivalency) | 30 | 01, 02, 03, 04 |
Melbourne, 2017, Semester 1, Day
Overview
Online enrolment: Yes
Maximum enrolment size: N/A
Enrolment information:
Subject Instance Co-ordinator: Jan Libich
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.
TutorialWeek: 10 - 22
One 2.0 hours tutorial per week on weekdays during the day from week 10 to week 22 and delivered via face-to-face.
Assessments
| Assessment element | Comments | % | ILO* |
|---|---|---|---|
| Online quizzes (750 words equivalency) | 20 | 01, 02, 03, 04 | |
| One 3-hour final examination | 50 | 01, 02, 03, 04 | |
| Open-ended assessment: problem sets (2750 words equivalency) | 30 | 01, 02, 03, 04 |
Melbourne, 2017, Semester 2, Day
Overview
Online enrolment: Yes
Maximum enrolment size: N/A
Enrolment information:
Subject Instance Co-ordinator: Buly Cardak
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.
TutorialWeek: 31 - 43
One 2.0 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* |
|---|---|---|---|
| Online quizzes (750 words equivalency) | 20 | 01, 02, 03, 04 | |
| One 3-hour final examination | 50 | 01, 02, 03, 04 | |
| Open-ended assessment: problem sets (2750 words equivalency) | 30 | 01, 02, 03, 04 |
Melbourne, 2017, Summer, Day
Overview
Online enrolment: Yes
Maximum enrolment size: N/A
Enrolment information:
Subject Instance Co-ordinator: Buly Cardak
Class requirements
LectureWeek: 46
One 1.0 hours lecture per week on weekdays during the day in week 46 and delivered via face-to-face.
TutorialWeek: 46
One 2.0 hours tutorial per week on weekdays during the day in week 46 and delivered via face-to-face.
Assessments
| Assessment element | Comments | % | ILO* |
|---|---|---|---|
| Online quizzes (750 words equivalency) | 20 | 01, 02, 03, 04 | |
| One 3-hour final examination | 50 | 01, 02, 03, 04 | |
| Open-ended assessment: problem sets (2750 words equivalency) | 30 | 01, 02, 03, 04 |
Online, 2017, Online StudyPeriod 1, Online
Overview
Online enrolment: Yes
Maximum enrolment size: N/A
Enrolment information:
Subject Instance Co-ordinator: Jan Libich
Class requirements
Unscheduled Online ClassWeek: 02 - 08
One 6.0 hours unscheduled online class per week on any day including weekend during the day from week 02 to week 08 and delivered via online.
Assessments
| Assessment element | Comments | % | ILO* |
|---|---|---|---|
| Online quizzes (3x 5% & 1x15%) | Broadly equivalent to 1250 words. | 030 | 01, 02, 03, 04 |
| Three, Real-world policy application tasks | Includes an online peer-review for the first two tasks. Broadly equivalent to 2500 words total. | 040 | 01, 02, 03, 04 |
| Six, Open-ended individual problem sets | 400 - 600 words each. Broadly equivalent to 2500 words total. | 030 | 01, 02, 03, 04 |
Online, 2017, Online StudyPeriod 3, Online
Overview
Online enrolment: Yes
Maximum enrolment size: N/A
Enrolment information:
Subject Instance Co-ordinator: Jan Libich
Class requirements
Unscheduled Online ClassWeek: 18 - 24
One 6.0 hours unscheduled online class per week on any day including weekend during the day from week 18 to week 24 and delivered via online.
Assessments
| Assessment element | Comments | % | ILO* |
|---|---|---|---|
| Online quizzes (3x 5% & 1x15%) | Broadly equivalent to 1250 words. | 030 | 01, 02, 03, 04 |
| Three, Real-world policy application tasks | Includes an online peer-review for the first two tasks. Broadly equivalent to 2500 words total. | 040 | 01, 02, 03, 04 |
| Six, Open-ended individual problem sets | 400 - 600 words each. Broadly equivalent to 2500 words total. | 030 | 01, 02, 03, 04 |
Sydney, 2017, Study Period 1, Day
Overview
Online enrolment: Yes
Maximum enrolment size: N/A
Enrolment information:
Subject Instance Co-ordinator: Jan Libich
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.
TutorialWeek: 10 - 22
One 2.0 hours tutorial per week on weekdays during the day from week 10 to week 22 and delivered via face-to-face.
Assessments
| Assessment element | Comments | % | ILO* |
|---|---|---|---|
| Online quizzes (750 words equivalency) | 20 | 01, 02, 03, 04 | |
| One 3-hour final examination | 50 | 01, 02, 03, 04 | |
| Open-ended assessment: problem sets (2750 words equivalency) | 30 | 01, 02, 03, 04 |
Sydney, 2017, Study Period 2, Day
Overview
Online enrolment: Yes
Maximum enrolment size: N/A
Enrolment information:
Subject Instance Co-ordinator: Jan Libich
Class requirements
LectureWeek: 31 - 42
One 1.0 hours lecture per week on weekdays during the day from week 31 to week 42 and delivered via face-to-face.
TutorialWeek: 31 - 42
One 2.0 hours tutorial per week on weekdays during the day from week 31 to week 42 and delivered via face-to-face.
Assessments
| Assessment element | Comments | % | ILO* |
|---|---|---|---|
| Online quizzes (750 words equivalency) | 20 | 01, 02, 03, 04 | |
| One 3-hour final examination | 50 | 01, 02, 03, 04 | |
| Open-ended assessment: problem sets (2750 words equivalency) | 30 | 01, 02, 03, 04 |
Sydney, 2017, Study Period 3, Day
Overview
Online enrolment: Yes
Maximum enrolment size: N/A
Enrolment information:
Subject Instance Co-ordinator: Buly Cardak
Class requirements
LectureWeek: 46
One 1.0 hours lecture per week on weekdays during the day in week 46 and delivered via face-to-face.
"SP3 (Summer) runs from October to February"
TutorialWeek: 46
One 2.0 hours tutorial per week on weekdays during the day in week 46 and delivered via face-to-face.
Assessments
| Assessment element | Comments | % | ILO* |
|---|---|---|---|
| Online quizzes (750 words equivalency) | 20 | 01, 02, 03, 04 | |
| One 3-hour final examination | 50 | 01, 02, 03, 04 | |
| Open-ended assessment: problem sets (2750 words equivalency) | 30 | 01, 02, 03, 04 |