Unit Outline

This unit provides managers with an introduction to a comprehensive range of key microeconomic and macroeconomic topics. The emphasis is on the practical application of basic economic concepts and models to real world business oriented problems. The unit will develop your ability to apply the economic way of thinking to solving problems within a firm and to understand the economic environment in which they operate.

Intended Learning Outcomes

As per the Assessment and Results Policy 1.3, your results will reflect your achievement against specified learning outcomes.

On completion of this unit, you will be able to:


1.	Critically assess key economic concepts and their application in a business environment.
2.	Appraise and apply the economic way of thinking to explain simple economic events, decisions and actions.
3.	Organise and communicate economic analyses and provide relevant recommendations for business and/or government policy decision making.

Alterations as a result of student feedback

To be determined.

How will I be Assessed?

For more detailed assessment information please see MyLO.

Assessment schedule


ASSESSMENT TASK #	ASSESSMENT TASK NAME	DATE DUE	WEIGHT	LINKS TO INTENDED LEARNING OUTCOMES
Assessment Task 1:	Quizzes	See the MyLO site for the due date	40 %	LO1, LO2
Assessment Task 2:	Case study selection	Week 9	30 %	LO1, LO2, LO3
Assessment Task 3:	Case analysis	Week 14	30 %	LO1, LO2, LO3

Assessment details

Assessment Task 1: Quizzes

Task Description:

There will be twelve multiple-choice quizzes to be completed in MyLO in each week (from week 2 to week 13 inclusive) with 30 minutes allocated to complete each quiz.

Each quiz will cover the lecture material of the previous week. The average of the highest-scoring 8 quizzes will count for 40% of the overall unit grade.

More details will be provided in MyLO.

Task Length:

12 x quizzes (max. 30-minutes each)

Due Date:

See the MyLO site for the due date

Weight:

40 %

CRITERION #

CRITERION

MEASURES INTENDED

LEARNING OUTCOME(S)


1	Assess economic concepts to explain firm and consumer behaviour.	LO1
2	Explain the impact of economic outcomes on consumers, firms, and policy makers.	LO1
3	Define, interpret, and critique economic concepts.	LO2
4	Use economic concepts to explain events, decisions and actions.	LO2

Assessment Task 2: Case study selection

Task Description:

This assignment will require you to choose a recent or ongoing economic issue using concepts learnt in weeks 1-8. You will be assessed on what you learnt in the unit by justifying your case selection by outlining its importance to policy and appropriateness for economic analysis using one of the analytic tools introduced in lectures 2-8.

More details will be provided in MyLO.

Task Length:

1000 word limit

Due Date:

Week 9

Weight:

30 %

CRITERION #

CRITERION

MEASURES INTENDED

LEARNING OUTCOME(S)


1	Assess economic concepts to explain firm and consumer behaviour.	LO1
2	Explain the impact of economic outcomes on consumers, firms, and policy makers.	LO1
3	Define, interpret, and critique economic concepts.	LO2
4	Use economic concepts to explain events, decisions and actions.	LO2
5	Explain, critique, and prescribe business and economic policies.	LO3
6	Communicate economic analysis clearly in a written form.	LO3

Assessment Task 3: Case analysis

Task Description:

This assignment will entail the economic analysis of your chosen topic from Assessment Task 2: Case study selection. You will perform correct analysis with the appropriate analysis tool from lectures 2-8 and recommend policies accordingly.

You will be assessed on what you learnt in the unit by correctly choosing and applying definitions, approaches and theories from relevant lectures and workshops.

Task Length:

1000 word limit

Due Date:

Week 14

Weight:

30 %

CRITERION #

CRITERION

MEASURES INTENDED

LEARNING OUTCOME(S)


1	Assess economic concepts to explain firm and consumer behaviour	LO1
2	Explain the impact of economic outcomes on consumers, firms, and policy makers.	LO1
3	Define, interpret, and critique economic concepts.	LO2
4	Use economic concepts to explain events, decisions and actions.	LO2
5	Explain, critique, and prescribe business and economic policies.	LO3
6	Communicate economic analysis clearly in a written form.	LO3

How your final result is determined

To pass this unit, you need to demonstrate your attainment of each of the Intended Learning Outcomes, achieve a final unit grade of 50% or greater, and pass any hurdle tasks.

Submission of assignments

Where practicable, assignments should be submitted to an assignment submission folder in MYLO. You must submit assignments by the due date or receive a penalty (unless an extension of time has been approved by the Unit Coordinator). Students submitting any assignment in hard copy, or because of a practicum finalisation, must attach a student cover sheet and signed declaration for the submission to be accepted for marking.

Academic integrity

Academic integrity is about acting responsibly, honestly, ethically, and collegially when using, producing, and communicating information with other students and staff members.

In written work, you must correctly reference the work of others to maintain academic integrity. To find out the referencing style for this unit, see the assessment information in the MyLO site, or contact your teaching staff. For more detail about Academic Integrity, see Important Guidelines & Support.

Requests for extensions

If you are unable to submit an assessment task by the due date, you should apply for an extension.

A request for an extension should first be discussed with your Unit Coordinator or teaching support team where possible. A request for an extension must be submitted by the assessment due date, except where you can provide evidence it was not possible to do so. Typically, an application for an extension will be supported by documentary evidence: however, where it is not possible for you to provide evidence please contact your Unit Coordinator.

The Unit Coordinator must notify you of the outcome of an extension request within 3 working days of receiving the request.

Late penalties

Assignments submitted after the deadline will receive a late penalty of 5% of the original available mark for each calendar day (or part day) that the assignment is late. Late submissions will not be accepted more than 10 calendar days after the due date, or after assignments have been returned to other students on a scheduled date, whichever occurs first. Further information on Late Penalties can be found on the Assessments and Results Procedure.

Review of results and appeals

You are entitled to ask for a review of the marking and grading of your assessment task if there is an irregularity in the marking standards or an error in the process for determining the outcome of an assessment. Details on how to request a review of a mark for an assignment are outlined in the Review and Appeal of Academic Decisions Procedure.

Required Resources

Required reading materials

N/A