PRINCIPLES OF ECONOMICS

BUS5POE

2020

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 (Pre 2022)

Credit points: 15

Subject Co-ordinator: Emmanuelle Walkowiak

Available to Study Abroad/Exchange Students: Yes

Subject year level: Year Level 5 - Masters

Exchange Students: No

Available as Elective: No

Learning Activities: N/A

Capstone subject: No

Subject particulars

Subject rules

Prerequisites: N/A

Co-requisites: N/A

Incompatible subjects: ECO5POE

Equivalent subjects: N/A

Quota Management Strategy: N/A

Quota-conditions or rules: N/A

Special conditions: N/A

Minimum credit point requirement: N/A

Assumed knowledge: N/A

Learning resources

Principles of Economics

Resource Type: Book

Resource Requirement: Prescribed

Author: Gans, King, Stonecash, Byford, Libich and Mankiw

Year: N/A

Edition/Volume: 7th Edition

Publisher: CENGAGE

ISBN: N/A

Chapter/article title: N/A

Chapter/issue: N/A

URL: N/A

Other description: N/A

Source location: N/A

Career Ready

Career-focused: No

Work-based learning: No

Self sourced or Uni sourced: N/A

Entire subject or partial subject: N/A

Total hours/days required: N/A

Location of WBL activity (region): N/A

WBL addtional requirements: N/A

Graduate capabilities & intended learning outcomes

Graduate Capabilities

DISCIPLINE KNOWLEDGE AND SKILLS

INQUIRY AND ANALYSIS - Creativity and Innovation

INQUIRY AND ANALYSIS - Critical Thinking and Problem Solving

INQUIRY AND ANALYSIS - Research and Evidence-Based Inquiry

Intended Learning Outcomes

01. Understand the economic way of decision-making and apply it in a number of areas of business and policy.

02. Analyse and evaluate strategic behaviour of competing economic agents and institutions in various market structures.

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.

04. Interact effectively and constructively with your peers, around issues economic theory and application.

Melbourne (Bundoora), 2020, Semester 1, Day

Overview

Online enrolment: Yes

Maximum enrolment size: N/A

Enrolment information: N/A

Subject Instance Co-ordinator: Joanna Poyago-Theotoky

Class requirements

LectureWeek: 10 - 22
One 1.00 hour lecture per week on weekdays during the day from week 10 to week 22 and delivered via face-to-face.

TutorialWeek: 10 - 22
One 2.00 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	Category	Contribution	Hurdle	%	ILO*
Online and/or in-class assessment tasks (Equivalent to 500 words)	N/A	N/A	N/A	No	10	SILO1, SILO2, SILO3, SILO4
One 2-hour Final Examination (Equivalent to 2000 words)	N/A	N/A	N/A	No	50	SILO1, SILO2, SILO3, SILO4
1-hour Mid-Semester Exam (Equivalent to 1000 words)	N/A	N/A	N/A	No	10	SILO1, SILO2, SILO3, SILO4
Problem set (Equivalent to 2000 words)	N/A	N/A	N/A	No	30	SILO1, SILO2, SILO3, SILO4

City Campus, 2020, Semester 1, Day

Overview

Online enrolment: Yes

Maximum enrolment size: N/A

Enrolment information: N/A

Subject Instance Co-ordinator: Emmanuelle Walkowiak

Class requirements

LectureWeek: 10 - 22
One 1.00 hour lecture per week on weekdays during the day from week 10 to week 22 and delivered via face-to-face.

TutorialWeek: 10 - 22
One 2.00 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	Category	Contribution	Hurdle	%	ILO*
Online and/or in-class assessment tasks (Equivalent to 500 words)	N/A	N/A	N/A	No	10	SILO1, SILO2, SILO3, SILO4
One 2-hour Final Examination (Equivalent to 2000 words)	N/A	N/A	N/A	No	50	SILO1, SILO2, SILO3, SILO4
1-hour Mid-Semester Exam (Equivalent to 1000 words)	N/A	N/A	N/A	No	10	SILO1, SILO2, SILO3, SILO4
Problem set (Equivalent to 2000 words)	N/A	N/A	N/A	No	30	SILO1, SILO2, SILO3, SILO4

Bendigo, 2020, Semester 2, Day

Overview

Online enrolment: Yes

Maximum enrolment size: N/A

Enrolment information: N/A

Subject Instance Co-ordinator: Emmanuelle Walkowiak

Class requirements

LectureWeek: 31 - 43
One 1.00 hour lecture per week on weekdays during the day from week 31 to week 43 and delivered via face-to-face.

TutorialWeek: 31 - 43
One 2.00 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	Category	Contribution	Hurdle	%	ILO*
Online and/or in-class assessment tasks (Equivalent to 500 words)	N/A	N/A	N/A	No	10	SILO1, SILO2, SILO3, SILO4
One 2-hour Final Examination (Equivalent to 2000 words)	N/A	N/A	N/A	No	50	SILO1, SILO2, SILO3, SILO4
1-hour Mid-Semester Exam (Equivalent to 1000 words)	N/A	N/A	N/A	No	10	SILO1, SILO2, SILO3, SILO4
Problem set (Equivalent to 2000 words)	N/A	N/A	N/A	No	30	SILO1, SILO2, SILO3, SILO4

Melbourne (Bundoora), 2020, Semester 2, Day

Overview

Online enrolment: Yes

Maximum enrolment size: N/A

Enrolment information: N/A

Subject Instance Co-ordinator: Emmanuelle Walkowiak

Class requirements

LectureWeek: 31 - 43
One 1.00 hour lecture per week on weekdays during the day from week 31 to week 43 and delivered via blended.

TutorialWeek: 31 - 43
One 2.00 hours tutorial per week on weekdays during the day from week 31 to week 43 and delivered via blended.

Assessments

Assessment element	Comments	Category	Contribution	Hurdle	%	ILO*
Online and/or in-class assessment tasks (Equivalent to 500 words)	N/A	N/A	N/A	No	10	SILO1, SILO2, SILO3, SILO4
One 2-hour Final Examination (Equivalent to 2000 words)	N/A	N/A	N/A	No	50	SILO1, SILO2, SILO3, SILO4
1-hour Mid-Semester Exam (Equivalent to 1000 words)	N/A	N/A	N/A	No	10	SILO1, SILO2, SILO3, SILO4
Problem set (Equivalent to 2000 words)	N/A	N/A	N/A	No	30	SILO1, SILO2, SILO3, SILO4

City Campus, 2020, Semester 2, Day

Overview

Online enrolment: Yes

Maximum enrolment size: N/A

Enrolment information: N/A

Subject Instance Co-ordinator: Emmanuelle Walkowiak

Class requirements

LectureWeek: 31 - 43
One 1.00 hour lecture per week on weekdays during the day from week 31 to week 43 and delivered via face-to-face.

TutorialWeek: 31 - 43
One 2.00 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	Category	Contribution	Hurdle	%	ILO*
Online and/or in-class assessment tasks (Equivalent to 500 words)	N/A	N/A	N/A	No	10	SILO1, SILO2, SILO3, SILO4
One 2-hour Final Examination (Equivalent to 2000 words)	N/A	N/A	N/A	No	50	SILO1, SILO2, SILO3, SILO4
1-hour Mid-Semester Exam (Equivalent to 1000 words)	N/A	N/A	N/A	No	10	SILO1, SILO2, SILO3, SILO4
Problem set (Equivalent to 2000 words)	N/A	N/A	N/A	No	30	SILO1, SILO2, SILO3, SILO4

Melbourne (Bundoora), 2020, LTU Term 5, Day

Overview

Online enrolment: Yes

Maximum enrolment size: N/A

Enrolment information: N/A

Subject Instance Co-ordinator: Emmanuelle Walkowiak

Class requirements

LectureWeek: 37 - 42
Two 1.00 hour lecture per week on weekdays during the day from week 37 to week 42 and delivered via blended.

TutorialWeek: 38 - 42
Two 2.00 hours tutorial per week on weekdays during the day from week 38 to week 42 and delivered via blended.

Assessments

Assessment element	Comments	Category	Contribution	Hurdle	%	ILO*
Online and/or in-class assessment tasks (Equivalent to 500 words)	N/A	N/A	N/A	No	10	SILO1, SILO2, SILO3, SILO4
One 2-hour Final Examination (Equivalent to 2000 words)	N/A	N/A	N/A	No	50	SILO1, SILO2, SILO3, SILO4
1-hour Mid-Semester Exam (Equivalent to 1000 words)	N/A	N/A	N/A	No	10	SILO1, SILO2, SILO3, SILO4
Problem set (Equivalent to 2000 words)	N/A	N/A	N/A	No	30	SILO1, SILO2, SILO3, SILO4

City Campus, 2020, LTU Term 5, Day

Overview

Online enrolment: Yes

Maximum enrolment size: N/A

Enrolment information: N/A

Subject Instance Co-ordinator: Emmanuelle Walkowiak

Class requirements

LectureWeek: 37 - 42
Two 1.00 hour lecture per week on weekdays during the day from week 37 to week 42 and delivered via blended.

TutorialWeek: 38 - 42
Two 2.00 hours tutorial per week on weekdays during the day from week 38 to week 42 and delivered via blended.

Assessments

Assessment element	Comments	Category	Contribution	Hurdle	%	ILO*
Online and/or in-class assessment tasks (Equivalent to 500 words)	N/A	N/A	N/A	No	10	SILO1, SILO2, SILO3, SILO4
One 2-hour Final Examination (Equivalent to 2000 words)	N/A	N/A	N/A	No	50	SILO1, SILO2, SILO3, SILO4
1-hour Mid-Semester Exam (Equivalent to 1000 words)	N/A	N/A	N/A	No	10	SILO1, SILO2, SILO3, SILO4
Problem set (Equivalent to 2000 words)	N/A	N/A	N/A	No	30	SILO1, SILO2, SILO3, SILO4

On-Line, 2020, Online study period 1, Online

Overview

Online enrolment: Yes

Maximum enrolment size: N/A

Enrolment information: N/A

Subject Instance Co-ordinator: Emmanuelle Walkowiak

Class requirements

Unscheduled Online ClassWeek: 2 - 8
One 6.00 hours unscheduled online class per week on any day including weekend during the day from week 2 to week 8 and delivered via online.

Assessments

Assessment element	Comments	Category	Contribution	Hurdle	%	ILO*
Online and/or in-class assessment tasks (Equivalent to 500 words)	N/A	N/A	N/A	No	10	SILO1, SILO2, SILO3, SILO4
One 2-hour Final Examination (Equivalent to 2000 words)	N/A	N/A	N/A	No	50	SILO1, SILO2, SILO3, SILO4
1-hour Mid-Semester Exam (Equivalent to 1000 words)	N/A	N/A	N/A	No	10	SILO1, SILO2, SILO3, SILO4
Problem set (Equivalent to 2000 words)	N/A	N/A	N/A	No	30	SILO1, SILO2, SILO3, SILO4

On-Line, 2020, Online study period 3, Online

Overview

Online enrolment: Yes

Maximum enrolment size: N/A

Enrolment information: N/A

Subject Instance Co-ordinator: Emmanuelle Walkowiak

Class requirements

Unscheduled Online ClassWeek: 18 - 24
One 6.00 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	Category	Contribution	Hurdle	%	ILO*
Online quizzesBroadly equivalent to 1250 words.	N/A	N/A	N/A	No	30	SILO1, SILO2, SILO3, SILO4
Three, Real-world policy application tasksIncludes an online peer-review for the first two tasks.Broadly equivalent to 2500 words total.	N/A	N/A	N/A	No	40	SILO1, SILO2, SILO3, SILO4
Six, Open-ended individual problem sets400 - 600 words each. Broadly equivalent to 2500 words total.	N/A	N/A	N/A	No	30	SILO1, SILO2, SILO3, SILO4

Sydney, 2020, Study period 1, Day

Overview

Online enrolment: Yes

Maximum enrolment size: N/A

Enrolment information: N/A

Subject Instance Co-ordinator: Jan Libich

Class requirements

LectureWeek: 10 - 22
One 1.00 hour lecture per week on weekdays during the day from week 10 to week 22 and delivered via face-to-face.

TutorialWeek: 10 - 22
One 2.00 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	Category	Contribution	Hurdle	%	ILO*
Online and/or in-class assessment tasks (Equivalent to 500 words)	N/A	N/A	N/A	No	10	SILO1, SILO2, SILO3, SILO4
One 2-hour Final Examination (Equivalent to 2000 words)	N/A	N/A	N/A	No	50	SILO1, SILO2, SILO3, SILO4
1-hour Mid-Semester Exam (Equivalent to 1000 words)	N/A	N/A	N/A	No	10	SILO1, SILO2, SILO3, SILO4
Problem set (Equivalent to 2000 words)	N/A	N/A	N/A	No	30	SILO1, SILO2, SILO3, SILO4