School: Business and Law

This unit information may be updated and amended immediately prior to semester. To ensure you have the correct outline, please check it again at the beginning of semester.

  • Unit Title

    Economics I
  • Unit Code

    ECF1110
  • Year

    2017
  • Enrolment Period

    1
  • Version

    1
  • Credit Points

    15
  • Full Year Unit

    N
  • Mode of Delivery

    On Campus
    Online
  • Unit Co-ordinator

    Dr Margaret Joan GILES

Description

In our personal lives and business careers, we are faced with many choices as we try to make the best use of the limited resources available to us. This unit's main focus is 'economic literacy' - being able to recognise, understand and apply the economic principles which give us insight into personal, corporate and government behaviour (nationally and internationally). Its secondary focus is to introduce techniques which economists use to help them think logically about problems and their solutions. An understanding of concepts and techniques provides students with an 'economic toolkit' which will be useful in many situations in the future. There is considerable emphasis on the application of economic concepts to current economic climate in Australia and internationally.

Learning Outcomes

On completion of this unit students should be able to:

  1. Comprehend and critically appraise economic decisions made by governments, businesses and households.
  2. Demonstrate understanding of the fundamental methodology and principles of economic theory and practice.
  3. Have a basis for further undergraduate study in economics and business.
  4. Understand the differences and complementarity of microeconomics and macroeconomics in the Australian context.
  5. Use and apply mathematical skills as appropriate data analysis, graphs; rates of change etc.

Unit Content

  1. Demand and supply analysis.
  2. Exchange rates and external stability goal.
  3. Fiscal and monetary policies.
  4. Gross Domestic Product and economic growth goal.
  5. Inflation and unemployment goals.
  6. Market failure.
  7. Other market structures.
  8. Perfect competition and monopoly.
  9. Price and income elasticities.
  10. Production possibilities and trade.
  11. The meaning of economics.

Teaching and Learning Processes

On-campus students attend a two hour lecture and one hour tutorial.
Unit material is also available via Blackboard. Regular online access is required.

Off-campus students access material via Blackboard. Regular online access is required.

Assessment

GS1 GRADING SCHEMA 1 Used for standard coursework units

Students please note: The marks and grades received by students on assessments may be subject to further moderation. All marks and grades are to be considered provisional until endorsed by the relevant Board of Examiners.

ON CAMPUS
TypeDescriptionValue
TestOn-line Tests20%
AssignmentAssignment30%
ExaminationFinal Examination50%
ONLINE
TypeDescriptionValue
TestOn-line Tests20%
AssignmentAssignment30%
ExaminationFinal Examination50%

Disability Standards for Education (Commonwealth 2005)

For the purposes of considering a request for Reasonable Adjustments under the Disability Standards for Education (Commonwealth 2005), inherent requirements for this subject are articulated in the Unit Description, Learning Outcomes and Assessment Requirements of this entry. The University is dedicated to provide support to those with special requirements. Further details on the support for students with disabilities or medical conditions can be found at the Student Equity, Diversity and Disability Service website.

Academic Misconduct

Edith Cowan University has firm rules governing academic misconduct and there are substantial penalties that can be applied to students who are found in breach of these rules. Academic misconduct includes, but is not limited to:

  • plagiarism;
  • unauthorised collaboration;
  • cheating in examinations;
  • theft of other students’ work;

Additionally, any material submitted for assessment purposes must be work that has not been submitted previously, by any person, for any other unit at ECU or elsewhere.

The ECU rules and policies governing all academic activities, including misconduct, can be accessed through the ECU website.

ECF1110|1|1

School: Business and Law

This unit information may be updated and amended immediately prior to semester. To ensure you have the correct outline, please check it again at the beginning of semester.

  • Unit Title

    Economics I
  • Unit Code

    ECF1110
  • Year

    2017
  • Enrolment Period

    2
  • Version

    1
  • Credit Points

    15
  • Full Year Unit

    N
  • Mode of Delivery

    On Campus
    Online
  • Unit Co-ordinator

    Dr Margaret Joan GILES

Description

In our personal lives and business careers, we are faced with many choices as we try to make the best use of the limited resources available to us. This unit's main focus is 'economic literacy' - being able to recognise, understand and apply the economic principles which give us insight into personal, corporate and government behaviour (nationally and internationally). Its secondary focus is to introduce techniques which economists use to help them think logically about problems and their solutions. An understanding of concepts and techniques provides students with an 'economic toolkit' which will be useful in many situations in the future. There is considerable emphasis on the application of economic concepts to current economic climate in Australia and internationally.

Learning Outcomes

On completion of this unit students should be able to:

  1. Comprehend and critically appraise economic decisions made by governments, businesses and households.
  2. Demonstrate understanding of the fundamental methodology and principles of economic theory and practice.
  3. Have a basis for further undergraduate study in economics and business.
  4. Understand the differences and complementarity of microeconomics and macroeconomics in the Australian context.
  5. Use and apply mathematical skills as appropriate data analysis, graphs; rates of change etc.

Unit Content

  1. Demand and supply analysis.
  2. Exchange rates and external stability goal.
  3. Fiscal and monetary policies.
  4. Gross Domestic Product and economic growth goal.
  5. Inflation and unemployment goals.
  6. Market failure.
  7. Other market structures.
  8. Perfect competition and monopoly.
  9. Price and income elasticities.
  10. Production possibilities and trade.
  11. The meaning of economics.

Teaching and Learning Processes

On-campus students attend a two hour lecture and one hour tutorial.
Unit material is also available via Blackboard. Regular online access is required.

Off-campus students access material via Blackboard. Regular online access is required.

Assessment

GS1 GRADING SCHEMA 1 Used for standard coursework units

Students please note: The marks and grades received by students on assessments may be subject to further moderation. All marks and grades are to be considered provisional until endorsed by the relevant Board of Examiners.

ON CAMPUS
TypeDescriptionValue
TestOn-line Tests20%
AssignmentAssignment30%
ExaminationFinal Examination50%
ONLINE
TypeDescriptionValue
TestOn-line Tests20%
AssignmentAssignment30%
ExaminationFinal Examination50%

Core Reading(s)

  • Hubbard, G., Garnett, A., Lewis, P., & O'Brien, T. (2015). Essentials of Economics. (3rd ed.). Frenchs Forest: Pearson.

Disability Standards for Education (Commonwealth 2005)

For the purposes of considering a request for Reasonable Adjustments under the Disability Standards for Education (Commonwealth 2005), inherent requirements for this subject are articulated in the Unit Description, Learning Outcomes and Assessment Requirements of this entry. The University is dedicated to provide support to those with special requirements. Further details on the support for students with disabilities or medical conditions can be found at the Student Equity, Diversity and Disability Service website.

Academic Misconduct

Edith Cowan University has firm rules governing academic misconduct and there are substantial penalties that can be applied to students who are found in breach of these rules. Academic misconduct includes, but is not limited to:

  • plagiarism;
  • unauthorised collaboration;
  • cheating in examinations;
  • theft of other students’ work;

Additionally, any material submitted for assessment purposes must be work that has not been submitted previously, by any person, for any other unit at ECU or elsewhere.

The ECU rules and policies governing all academic activities, including misconduct, can be accessed through the ECU website.

ECF1110|1|2