ECO 1001 Business Economics
SUBJECT INFORMATION |
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SUBJECT CODE ECO1001 |
SUBJECT CREDITS 5 |
SUBJECT OWNER AIHE Business School |
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SUBJECT LEVEL Undergraduate |
TOTAL COURSE CREDIT POINTS 120 |
OFFERED EXTERNALLY Yes |
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CORE SUBJECT Yes
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EFTSL* 0.125 * Equivalent Full time Study Load
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NOTE This offering may not be scheduled in every study period. Please refer to the time table for further details.
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Subject Description
Economics is at the core of all business decision-making therefore an understanding of basic economic concepts is essential for business students. In this subject, students will be introduced to microeconomic theory and how it aids in resource allocation decisions by individuals and businesses. Students will also gain an understanding of the policy-making and regulatory role that governments play in modern industrialised economies. Scenario-based learning will be used extensively so that students develop skills in applying the microeconomic concepts they have learnt to authentic business scenarios.Textbook(s)
Karlan, D., Bajada, C., Melatos, M., & Morduch, J. (2020). Principles of Economics. 2nd Ed., McGraw-Hill Education: Sydney.Teaching Method
Semester Study Period: 3 hour Face-to-face sessions x 12 weeks + 2 hours self study/ assessment x 2 weeks plus personal study hours Winter or Summer School: 7 hours Face-to-face sessions x 5 weeks plus personal study hoursPrerequisite(s)
NilAssessment
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Task |
Length |
Duration |
Weighting |
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Homework Activities |
1000 words each |
30% |
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Mid-semester Test |
1 hour |
25% |
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Group Assignment |
2000 words equivalent |
20% |
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End of semester test |
2 hours |
25% |
