PRINCIPLES OF ECONOMICS

BUS5POE

2021

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/Exchange StudentsYes

Subject year levelYear Level 5 - Masters

Available as ElectiveNo

Learning ActivitiesTutorial group discussions, tutorial presentations, video-interviews, problem sets, final exam and online and/or in-class assessments tasks and quizzes

Capstone subjectNo

Subject particulars

Subject rules

PrerequisitesN/A

Co-requisitesN/A

Incompatible subjectsECO5POE

Equivalent subjectsN/A

Quota Management StrategyN/A

Quota-conditions or rulesN/A

Special conditionsN/A

Minimum credit point requirementN/A

Assumed knowledgeN/A

Readings

Principles of Economics

Resource TypePrescribed

Resource RequirementN/A

AuthorGans, King, Stonecash, Byford, Libich and Mankiw

Year2019

Edition/Volume9th Edition

PublisherCENGAGE

ISBN9780357038314

Chapter/article titleN/A

Chapter/issueN/A

URLN/A

Other descriptionN/A

Source locationN/A

Career Ready

Career-focusedNo

Work-based learningNo

Self sourced or Uni sourcedN/A

Entire subject or partial subjectN/A

Total hours/days requiredN/A

Location of WBL activity (region)N/A

WBL addtional requirementsN/A

Graduate capabilities & intended learning outcomes

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.
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.

Subject options

Select to view your study options…

Start date between: and    Key dates

Bendigo, 2021, Semester 1, Day

Overview

Online enrolmentYes

Maximum enrolment sizeN/A

Subject Instance Co-ordinatorEmmanuelle Walkowiak

Class requirements

LectureWeek: 13 - 22
One 1.00 h lecture per week on weekdays during the day from week 13 to week 22 and delivered via face-to-face.

TutorialWeek: 14 - 22
One 2.00 h tutorial per week on weekdays during the day from week 14 to week 22 and delivered via face-to-face.

Assessments

Assessment elementCommentsCategoryContributionHurdle% ILO*

Online and/or in-class assessment tasks Equivalent to 500 words

N/AOtherIndividualNo10 SILO1, SILO2, SILO3, SILO4

One 2-hour Final Examination Equivalent to 2000 words

N/ACentral examIndividualNo50 SILO1, SILO2, SILO3, SILO4

1-hour Mid-Semester Exam Equivalent to 1000 words

N/ACentral examIndividualNo10 SILO1, SILO2, SILO3, SILO4

Problem set Equivalent to 2000 words

N/AOtherIndividualNo30 SILO1, SILO2, SILO3, SILO4

Melbourne (Bundoora), 2021, Semester 1, Day

Overview

Online enrolmentYes

Maximum enrolment sizeN/A

Subject Instance Co-ordinatorJan Libich

Class requirements

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

Assessments

Assessment elementCommentsCategoryContributionHurdle% ILO*

Online and/or in-class assessment tasks Equivalent to 500 words

N/AOtherIndividualNo10 SILO1, SILO2, SILO3, SILO4

One 2-hour Final Examination Equivalent to 2000 words

N/ACentral examIndividualNo50 SILO1, SILO2, SILO3, SILO4

1-hour Mid-Semester Exam Equivalent to 1000 words

N/ACentral examIndividualNo10 SILO1, SILO2, SILO3, SILO4

Problem set Equivalent to 2000 words

N/AOtherIndividualNo30 SILO1, SILO2, SILO3, SILO4

City Campus, 2021, Semester 1, Day

Overview

Online enrolmentYes

Maximum enrolment sizeN/A

Subject Instance Co-ordinatorEmmanuelle Walkowiak

Class requirements

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

Assessments

Assessment elementCommentsCategoryContributionHurdle% ILO*

Online and/or in-class assessment tasks Equivalent to 500 words

N/AOtherIndividualNo10 SILO1, SILO2, SILO3, SILO4

One 2-hour Final Examination Equivalent to 2000 words

N/ACentral examIndividualNo50 SILO1, SILO2, SILO3, SILO4

1-hour Mid-Semester Exam Equivalent to 1000 words

N/ACentral examIndividualNo10 SILO1, SILO2, SILO3, SILO4

Problem set Equivalent to 2000 words

N/AOtherIndividualNo30 SILO1, SILO2, SILO3, SILO4

Sydney, 2021, Semester 1, Day

Overview

Online enrolmentYes

Maximum enrolment sizeN/A

Subject Instance Co-ordinatorJan Libich

Class requirements

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

Assessments

Assessment elementCommentsCategoryContributionHurdle% ILO*

Online and/or in-class assessment tasks Equivalent to 500 words

N/AOtherIndividualNo10 SILO1, SILO2, SILO3, SILO4

1-hour Mid-Semester Exam Equivalent to 1000 words

N/ACentral examIndividualNo10 SILO1, SILO2, SILO3, SILO4

Problem set Equivalent to 2000 words

N/AOtherIndividualNo30 SILO1, SILO2, SILO3, SILO4

Melbourne (Bundoora), 2021, Semester 2, Day

Overview

Online enrolmentYes

Maximum enrolment sizeN/A

Subject Instance Co-ordinatorBuly Cardak

Class requirements

LectureWeek: 30 - 42
One 1.00 h lecture per week on weekdays during the day from week 30 to week 42 and delivered via face-to-face.

TutorialWeek: 31 - 42
One 2.00 h tutorial per week on weekdays during the day from week 31 to week 42 and delivered via face-to-face.

Assessments

Assessment elementCommentsCategoryContributionHurdle% ILO*

Online and/or in-class assessment tasks Equivalent to 500 words

N/AOtherIndividualNo10 SILO1, SILO2, SILO3, SILO4

One 2-hour Final Examination Equivalent to 2000 words

N/ACentral examIndividualNo50 SILO1, SILO2, SILO3, SILO4

1-hour Mid-Semester Exam Equivalent to 1000 words

N/ACentral examIndividualNo10 SILO1, SILO2, SILO3, SILO4

Problem set Equivalent to 2000 words

N/AOtherIndividualNo30 SILO1, SILO2, SILO3, SILO4

City Campus, 2021, Semester 2, Day

Overview

Online enrolmentYes

Maximum enrolment sizeN/A

Subject Instance Co-ordinatorEmmanuelle Walkowiak

Class requirements

LectureWeek: 30 - 42
One 1.00 h lecture per week on weekdays during the day from week 30 to week 42 and delivered via face-to-face.

TutorialWeek: 31 - 42
One 2.00 h tutorial per week on weekdays during the day from week 31 to week 42 and delivered via face-to-face.

Assessments

Assessment elementCommentsCategoryContributionHurdle% ILO*

Online and/or in-class assessment tasks Equivalent to 500 words

N/AOtherIndividualNo10 SILO1, SILO2, SILO3, SILO4

One 2-hour Final Examination Equivalent to 2000 words

N/ACentral examIndividualNo50 SILO1, SILO2, SILO3, SILO4

1-hour Mid-Semester Exam Equivalent to 1000 words

N/ACentral examIndividualNo10 SILO1, SILO2, SILO3, SILO4

Problem set Equivalent to 2000 words

N/AOtherIndividualNo30 SILO1, SILO2, SILO3, SILO4

Sydney, 2021, Semester 2, Day

Overview

Online enrolmentYes

Maximum enrolment sizeN/A

Subject Instance Co-ordinatorJan Libich

Class requirements

LectureWeek: 30 - 42
One 1.00 h lecture per week on weekdays during the day from week 30 to week 42.

TutorialWeek: 30 - 42
One 2.00 h tutorial per week on weekdays during the day from week 30 to week 42 and delivered via face-to-face.

Assessments

Assessment elementCommentsCategoryContributionHurdle% ILO*

Online and/or in-class assessment tasks Equivalent to 500 words

N/AOtherIndividualNo10 SILO1, SILO2, SILO3, SILO4

One 2-hour Final Examination Equivalent to 2000 words

N/ACentral examIndividualNo50 SILO1, SILO2, SILO3, SILO4

1-hour Mid-Semester Exam Equivalent to 1000 words

N/ACentral examIndividualNo10 SILO1, SILO2, SILO3, SILO4

Problem set Equivalent to 2000 words

N/AOtherIndividualNo30 SILO1, SILO2, SILO3, SILO4

Melbourne (Bundoora), 2021, LTU Term 1, Day

Overview

Online enrolmentYes

Maximum enrolment sizeN/A

Subject Instance Co-ordinatorEmmanuelle Walkowiak

Class requirements

LectureWeek: 2 - 7
One 1.00 h lecture per week on weekdays during the day from week 2 to week 7 and delivered via face-to-face.

TutorialWeek: 2 - 7
One 2.00 h tutorial per week on weekdays during the day from week 2 to week 7 and delivered via face-to-face.

Assessments

Assessment elementCommentsCategoryContributionHurdle% ILO*

Online and/or in-class assessment tasks Equivalent to 500 words

N/AOtherIndividualNo10 SILO1, SILO2, SILO3, SILO4

One 2-hour Final Examination Equivalent to 2000 words

N/ACentral examIndividualNo50 SILO1, SILO2, SILO3, SILO4

1-hour Mid-Semester Exam Equivalent to 1000 words

N/ACentral examIndividualNo10 SILO1, SILO2, SILO3, SILO4

Problem set Equivalent to 2000 words

N/AOtherIndividualNo30 SILO1, SILO2, SILO3, SILO4

City Campus, 2021, LTU Term 1, Day

Overview

Online enrolmentYes

Maximum enrolment sizeN/A

Subject Instance Co-ordinatorEmmanuelle Walkowiak

Class requirements

LectureWeek: 2 - 7
One 1.00 h lecture per day on weekdays during the day from week 2 to week 7 and delivered via face-to-face.

TutorialWeek: 2 - 7
One 2.00 h tutorial per day on weekdays during the day from week 2 to week 7 and delivered via face-to-face.

Assessments

Assessment elementCommentsCategoryContributionHurdle% ILO*

Online and/or in-class assessment tasks Equivalent to 500 words

N/AOtherIndividualNo10 SILO1, SILO2, SILO3, SILO4

One 2-hour Final Examination Equivalent to 2000 words

N/ACentral examIndividualNo50 SILO1, SILO2, SILO3, SILO4

1-hour Mid-Semester Exam Equivalent to 1000 words

N/ACentral examIndividualNo10 SILO1, SILO2, SILO3, SILO4

Problem set Equivalent to 2000 words

N/AOtherIndividualNo30 SILO1, SILO2, SILO3, SILO4

On-Line, 2021, LTU Term 5, Online

Overview

Online enrolmentYes

Maximum enrolment sizeN/A

Subject Instance Co-ordinatorJan Libich

Class requirements

Unscheduled Online ClassWeek: 37 - 42
One 6.00 h unscheduled online class per week on any day including weekend during the day from week 37 to week 42 and delivered via online.

Assessments

Assessment elementCommentsCategoryContributionHurdle% ILO*

Online quizzes Broadly equivalent to 1250 words.

N/AQuizzesIndividualNo30 SILO1, SILO2, SILO3, SILO4

Three, Real-world policy application tasks Includes an online peer-review for the first two tasks. Broadly equivalent to 2500 words total.

N/AOtherIndividualNo40 SILO1, SILO2, SILO3, SILO4

Six, Open-ended individual problem sets 400 - 600 words each. Broadly equivalent to 2500 words total.

N/AOtherIndividualNo30 SILO1, SILO2, SILO3, SILO4