PRINCIPLES OF ECONOMICS
BUS5POE
2019
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.
SchoolLa Trobe Business School
Credit points15
Subject Co-ordinatorEmmanuelle Walkowiak
Available to Study Abroad StudentsYes
Subject year levelYear Level 5 - Masters
Exchange StudentsYes
Subject particulars
Subject rules
PrerequisitesN/A
Co-requisitesN/A
Incompatible subjects ECO5POE
Equivalent subjectsN/A
Special conditionsN/A
Readings
| Resource Type | Title | Resource Requirement | Author and Year | Publisher |
|---|---|---|---|---|
| Readings | Principles of Economics (7th Edition) | Prescribed | Gans, King, Stonecash, Byford, Libich and Mankiw | 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)
Subject options
Select to view your study options…
City Campus, 2019, Semester 2, Day
Overview
Online enrolmentYes
Maximum enrolment sizeN/A
Enrolment information
Subject Instance Co-ordinatorEmmanuelle Walkowiak
Class requirements
Lecture
Week:
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.
Tutorial
Week:
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, 2019, Semester 1, Day
Overview
Online enrolmentYes
Maximum enrolment sizeN/A
Enrolment information
Subject Instance Co-ordinatorEmmanuelle Walkowiak
Class requirements
Lecture
Week:
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.
Tutorial
Week:
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, 2019, Summer 1, Day
Overview
Online enrolmentYes
Maximum enrolment sizeN/A
Enrolment information
Subject Instance Co-ordinatorJan Libich
Class requirements
Lecture
Week:
45
One 1.0 hours lecture per week
on weekdays
during the day
in week 45
and delivered via face-to-face.
Tutorial
Week:
45
One 2.0 hours tutorial per week
on weekdays
during the day
in week 45
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, 2019, Semester 1, Day
Overview
Online enrolmentYes
Maximum enrolment sizeN/A
Enrolment information
Subject Instance Co-ordinatorJan Libich
Class requirements
Lecture
Week:
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.
Tutorial
Week:
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, 2019, Semester 2, Day
Overview
Online enrolmentYes
Maximum enrolment sizeN/A
Enrolment information
Subject Instance Co-ordinatorBuly Cardak
Class requirements
Lecture
Week:
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.
Tutorial
Week:
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, 2019, Summer 1, Day
Overview
Online enrolmentYes
Maximum enrolment sizeN/A
Enrolment information
Subject Instance Co-ordinatorJan Libich
Class requirements
Lecture
Week:
45
One 1.0 hours lecture per week
on weekdays
during the day
in week 45
and delivered via face-to-face.
Tutorial
Week:
45
One 2.0 hours tutorial per week
on weekdays
during the day
in week 45
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, 2019, Online StudyPeriod 5, Online
Overview
Online enrolmentYes
Maximum enrolment sizeN/A
Enrolment information
Subject Instance Co-ordinatorJan Libich
Class requirements
Unscheduled Online Class
Week:
36
-
42
One 6.0 hours unscheduled online class per week
on any day including weekend
during the day
from week 36 to week 42
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, 2019, Online StudyPeriod 3, Online
Overview
Online enrolmentYes
Maximum enrolment sizeN/A
Enrolment information
Subject Instance Co-ordinatorJan Libich
Class requirements
Unscheduled Online Class
Week:
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, 2019, Study Period 1, Day
Overview
Online enrolmentYes
Maximum enrolment sizeN/A
Enrolment information
Subject Instance Co-ordinatorJan Libich
Class requirements
Lecture
Week:
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.
Tutorial
Week:
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, 2019, Study Period 2, Day
Overview
Online enrolmentYes
Maximum enrolment sizeN/A
Enrolment information
Subject Instance Co-ordinatorJan Libich
Class requirements
Lecture
Week:
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.
Tutorial
Week:
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, 2019, Study Period 3, Day
Overview
Online enrolmentYes
Maximum enrolment sizeN/A
Enrolment information
Subject Instance Co-ordinatorJan Libich
Class requirements
Lecture
Week:
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"
Tutorial
Week:
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 |