ECON102 to ECON600

ECON102 Microeconomics 1                                                                                                                 10 cp

Prerequisites Nil

Economics analyses the decisions made by individuals and society about resource use. This is an interesting and important study because of the problem of scarcity. Economics is about the choices made, alternatives foregone and consequences of decisions that are made by individuals, households, firms and governments in their quests to seek what they individually or communally regard will yield them maximum satisfaction. This subject will address current economic problems and issues facing the consumer and the firm in the micro-economy. These include resource allocation, the functioning of the market, competition, price and production decisions of the firm, elasticity and the role of the government in the market.

ECON103 Macroeconomics I                                                                                                                10 cp

Prerequisites Nil

Economics analyses the decisions made by individuals and society about resource use. This is an interesting and important study because of the problem of scarcity. Economics is about the choices made, alternatives foregone and consequences of decisions that are made by individuals, household, firms and governments in their quests to seek what they individually or communally believe will yield them maximum satisfaction. This subject will address current economic problems and issues, including inflation, unemployment, foreign debt and the globalisation of the international economy. We will examine current economic management and its effectiveness.

ECON104 Business Economics                                                                                                             10 cp

Prerequisites Nil

Teaching Organisation 3 hours per week for 12 weeks or equivalent.

This is an introductory unit that provides a comprehensive analysis of the role of economics in business. It looks at economic methods and analysis: how a market system operates; how resources are allocated; and the role of government and other institutions in the market.

ECON105 Economics for Business                                                                                                        10 cp

Prerequisites Nil

Teaching Organisation This unit is taught in the Distance Education mode and is presented in two parts. Part one consists of 12 topics presented over 12 weeks. There will be a new module (topic) every week. Each module consists of required reading, outcomes, key terms, summary or required reading and an assessment item. Part two consists of residential school sessions.

This is an introductory unit, which provides a comprehensive analysis of the role of economics in society. It looks at economic methods and analysis; how a market system operates; how resources are allocated; the role of government and other institutions; and the impact on demand of changes in policy.

ECON201 International Business Economics                                                                                        10 cp

Prerequisites ECON104 Business Economics

Teaching Organisation 3 hours per week for 12 weeks or equivalent.

This unit examines the factors determining the international flow of goods, services and capital and the behaviour of international corporations. It analyses opportunities and constraints for firms operating in the international marketplace – with particular emphasis on Europe and Pacific-Asia. It also pays attentions to theories of international trade and investment flows.

ECON202 Microeconomics 2                                                                                                                 10 cp

Prerequisites ECON102 Microeconomics 1

This unit will examine and apply microeconomic theory. It will build on Microeconomics 1 and examine different market structures and their operation, indifference analysis and isoquant - isocost analysis of the firm. Workable competition, microeconomic reform in the Australian economy and externalities and market failure will be investigated.

ECON203 Macroeconomics 2                                                                                                                10 cp

Prerequisites ECON103 Macroeconomics 1

This unit is an extension of the macroeconomic analysis undertaken in ECON103. Monetary and fiscal policies are examined in detail including the impact they have on the economy and individuals and businesses in the economy. Economic models such as aggregate demand and aggregate supply and the IS-LM analysis will be used to understand the operation of the economy, including the effects of economic policies on economic growth and exchange rates. Alternative taxation policies and how they work in theory and practice will be evaluated.

ECON204 Development Economics                                                                                                      10 cp

Prerequisites At least one economics unit at 100 level

Developmental Economics analyses human economic circumstances and how they change over time and how they can be changed over time. This subject will address current economic problems and issues facing developing countries, including, poverty, malnutrition, unemployment, foreign debt and the impact of globalisation. The unit will examine contemporary economic management policies and their effectiveness and alternative strategies that could be adopted. A case-study approach will be important in demonstrating the diverse nature of the problems facing developing economies and the policy responses that have been adopted.

ECON205 Economic Policy Analysis                                                                                                     10 cp

Prerequisites One economics unit at introductory (100) level

This unit is concerned with the nature and scope of government economic activity and analysis, interpretation and evaluation of economic policy issues in the light of economic principles. The relationship between economic and social policies, the distinction between equity and efficiency considerations and the rational evaluation of economic policy decisions are undertaken.

ECON206 Economic Systems                                                                                                                10 cp

Prerequisites Economics major/minor: one Economics unit at introductory (100) level

Teaching Organisation 3 hours per week for 12 weeks or equivalent.

Focuses on: the nature of economic systems and the problems of classifying economic systems; the nature of the modern mixed economy, the centrally planned economy and the socialist market economy; economic and other criteria which can be used to compare different economic systems; an examination of various modern economies on the basis of relevant comparative criteria.

ECON207 The Evolution of Economic Thought                                                                                     10 cp

Prerequisites Economics major/minor: one Economics unit at introductory (100) level

Teaching Organisation 3 hours per week for 12 weeks or equivalent.

Early “economic” ideas (the Bible, Christianity, the Middle Ages and the beginnings of the modern market economy): the Mercantilists and Physiocrats; the rise of economic liberalism; the economic ideas of Adam Smith; classical economists and reaction to Classical Economics; the economic ideas of Karl Marx; neoclassical economics; the Keynesian revolution; post–Keynesian economics; the economic ideas of three significant Americans: Veblen, Galbraith, Friedman; contemporary economic problems and ideas including radical economics.

ECON208 Economics for Business                                                                                                        10 cp

Prerequisites Nil

Teaching Organisation Lecture material and tutorial exercises. Structured tutorials will provide students with the opportunity to revise and extend their knowledge and understanding of topics.

This is an introductory unit, which provides a comprehensive analysis of the role of economics in society. It looks at economic methods and analysis; how a market system operates; how resources are allocated; the role of government and other institutions; and the impact on demand of changes in policy.

ECON209 The Global Economy                                                                                                            10 cp

Prerequisites One Economics unit at introductory (100) level

This unit will introduce students to the key issues that impact on the international economic system and to Australia’s role in the global economy. The trend of globalisation and its impact on trade, investment, technology, labour and finance will be studied. Trade theory and its application to the costs and benefits of trade in Australia and other economies will be discussed along with exchange rates and the effects of fluctuations under different exchange rate systems. The role of international organisations, such as the IMF and World Bank, in the global economy will also be investigated.

ECON210 Labour Economics                                                                                                                10 cp

Prerequisites One Economics unit at introductory (100) level

This unit considers the key issues affecting the nature of the labour market and the industrial relations system. The role of the labour market in Australia will be explored, along with the changing industrial relations environment in Australia. The unit will introduce students to the issues and forces determining wages, employment and working conditions, with particular reference to the Australian economy. Students will study traditional labour market theory and how it is affected by institutions, international factors and by changes in legislation on industrial relations.

ECON600 Managerial Economics                                                                                                         10 cp

Prerequisites Nil

Teaching Organisation 3 hours per week for 12 weeks or equivalent.

This unit is concerned with the nature and significance of economic reasoning. The student will be taught to employ this reasoning to attain a greater understanding of a number of topical social and business questions. These questions include the extent to which markets allocate resources efficiently; the degree to which market restrictions are efficient; the effectiveness of different tax regimes; the relative efficiency of different market structures; the best means by which to control environmental damage; the practicality of the government provision of public goods; and the degree to which the macro-economy is subject to coordination failure. The student will also be made aware of the numerous shortcomings and limitations of economic reasoning.