Units
Economics 2
Unit code: EFB223
Credit points: 12
Information about fees and unit costs
Consumer behaviour, the role of the government in market intervention, allocative efficiency and market structure are some of the fundamental issues in microeconomics addressed in this unit. Business cycles and the related issue of macroeconomic stabilisation policy are analysed and explained within the Australian context. The significance of the international economy is described through a discussion of foreign exchange markets, the Australian dollar and the terms of trade.
Availability
| Semester | Available |
|---|---|
| 2012 Semester 1 | Yes |
| 2012 Semester 2 | Yes |
| 2012 Summer | Yes |
Sample subject outline - Semester 1 2013
Note: Subject outlines often change before the semester begins. Below is a sample outline.
Rationale
Built on the knowledge students gain in BSB113 Economics, Economics 2 will extend the theoretical frameworks to study the behaviours of consumers and firms, the role of the government in market intervention, business cycles and the related issues of macroeconomic stabilisation policy within the Australian context.
Aims
The frameworks developed in this unit will enable students to analyse the behaviours of consumers and firms, assess the performance of markets and critically evaluate the impact of government policies on efficiency, distribution and growth. The significance of the international economy is examined through a discussion of foreign exchange markets and balance of trade.
Objectives
Course Learning Goals (Undergraduate)
The QUT Business School has established the Assurance of Learning (AOL) Goals to meet contemporary industry needs and standards. Achieving these learning outcomes will assist you to meet the desired graduate outcomes set at QUT - aligned with other internationally renowned business schools. Students will develop the following capabilities relevant to a contemporary global and sustainable business environment:
Have knowledge and skills pertinent to a particular discipline (KS)
1.1 Integrate and apply disciplinary theory and skills to practical situations
1.2 Incorporate the use of technology appropriate to the discipline and context
Be critical thinkers and effective problem solvers (CTA)
2.1 Identify, research and critically analyse information relevant to a business problem or issue, be able to synthesise that information in order to evaluate potential solutions, make recommendations or otherwise effectively address the problem or issue
Be professional communicators in an intercultural context (PC)
3.1 Communicate effectively through written tasks appropriate to varied contexts and audiences
3.2 Communicate effectively through professional oral presentations appropriate to varied contexts and audiences
Be able to work effectively in a Team Environment (TW)
4.1 Demonstrate effective team skills in order to contribute appropriately to the production of a group output
Have a Social and Ethical Understanding (SEU)
5.1 Apply ethical reasoning, standards or codes of practice relevant to the discipline and make decisions that are informed by social and cultural understanding
Unit Objectives
Upon completion of this unit, you should be able to:
1. Apply economic models to analyse and explain consumer and producer behaviours, outcomes in different market structures and working of the macro-economy
2. Interpret and develop an informed view on the current micro and macro economic issues, such as competition policy, tariff protection, income distribution, unemployment, inflation fiscal balance and current account deficit
3. Critically evaluate the impacts of government policies on the conduct and performance of markets, economic fluctuations and long term economic growth
The specific course learning goals and unit objectives that apply to this unit are shown in the assessment section of this unit outline.
Content
The unit will cover both micro and macroeconomics topics, including the following topics:
Approaches to Teaching and Learning
There will be a 2-hour lecture and 1 hour tutorial for each of the 12 topics. The tutorial activities will help students apply and consolidate their understanding gained from each lecture, and develop written and oral communication skills. Learning support from various sources (textbook, Blackboard unit website and textbook website) will be provided for students to monitor their progress and to develop independent learning skills. This will be further supported by formative assessments (see below).
Assessment
This unit has 3 assessment items. While all three are compulsory, there are elements of flexibility in Tutorial Assessment to cater for students' academic needs. Students are asked to refer to the Week 1 Unit Information documentation for details concerning the flexible format of this assessment item.Students will receive feedback in various forms throughout the semester which may include:
Assessment name:
Tutorial Assessment
Description:
Tutorial assessment consists of three inter-related tasks: oral presentation (5%), tutorial assignments (15%) and one class test (15%). Details are available in the Week 1 Unit Information document on the Blackboard site. Length/Duration: Oral presentation (5 mins), Tutorial assignments (unspecified), Class test (45 mins)
Formative or Summative: Summative and Formative
Relates to objectives:
Unit objectives: 1, 4, 5 and AOL goals: KS (1.1), PC (3.1), (3.2)
Weight:
35%
Internal or external:
Internal
Group or individual:
Individual
Due date:
During Tutorials
Assessment name:
Essay
Description:
There are two essay topics to choose from and only one paper is to be submitted in either week 7 or week 12 depending on topic chosen.
Length/Duration: 1,200 words with 20% tolerance
Formative or Summative: Summative and Formative
Relates to objectives:
Unit objectives: 1, 2, 3 and AOL goals: CTA (2.1), PC (3.1)
Weight:
25%
Internal or external:
Internal
Group or individual:
Individual
Due date:
Week 7, Week 12
Assessment name:
Examination (Theory)
Description:
The final examination consists of short answer and essay questions. The subject matter for the examination will be drawn from all 12 modules.
Length/Duration: 2 hours plus 10 mins perusal time
Formative or Summative: Summative and Formative
Relates to objectives:
Unit objectives: 1, 2, 3 and AOL goals: KS (1.1) CTA (2.1), PC (3.1)
Weight:
40%
Internal or external:
Internal
Group or individual:
Individual
Due date:
Central Exam Period
Academic Honesty
QUT is committed to maintaining high academic standards to protect the value of its qualifications. To assist you in assuring the academic integrity of your assessment you are encouraged to make use of the support materials and services available to help you consider and check your assessment items. Important information about the university's approach to academic integrity of assessment is on your unit Blackboard site.
A breach of academic integrity is regarded as Student Misconduct and can lead to the imposition of penalties.
Resource materials
Prescribed Text
McTaggart, D., Findlay, C. and Parkin, M. (2013) Economics 7th edition, Addison-Wesley, Sydney
References
Heyne, P., Boettke, P. and Prychitko, D. (2003) The Economic Way of Thinking, Prentice-Hall
Layton, A., Robinson, T., Tucker, I. (2010) Economics for Today 3rd edition, Thomson, South Melbourne Victoria
Taylor, J. and Frost, L. (2009) Microeconomics 4th edition, Wiley
Littleboy, B. and Taylor, J. (2009) Macroeconomics 4th edition, Wiley
Other Resources
The following websites: < http://www.econ100.com > and < www.myeconlab.com/mctaggart > and < http://www.myeconlab.com/mctaggart > are in support of the prescribed text Economics by McTaggart, Findlay and Parkin.
Additional learning resources can also be found at the Blackboard site.
Risk assessment statement
There are no out-of-the-ordinary risks associated with lectures or tutorials in this unit. You should, however, familiarise yourself with evacuation procedures operating in the buildings in which you attend classes and take the time to
view the Emergency video.
Disclaimer - Offer of some units is subject to viability, and information in these Unit Outlines is subject to change prior to commencement of semester.
Last modified: 13-Feb-2013
