ECON20039 - Economics for Managers
Term 2 - 2017


All details in this unit profile for ECON20039 have been officially approved by CQUniversity and represent a learning partnership between the University and you (our student). The information will not be changed unless absolutely necessary and any change will be clearly indicated by an approved correction included in the profile.

Overview

This unit encompasses a broad ranging introduction to economic theory and analysis as well as a study of some applications of economics to economic systems and to enterprises. You will be required to study microeconomics (how individual businesses and sectors operate) and macroeconomics (how an economy works as a whole). You will also be required to gain some understanding of why institutions are very important in an economy, and how internal and international trade creates economic wealth. Key goals in the unit will be to raise awareness of the importance of economic systems, introduction to the different fields of economic theory that are relevant to business, and develop some analytical skills. If you have successfully completed the unit ECON20023 you should not enrol in this unit.

Details

Career Level Postgraduate
Credit Points 6
Student Contribution Band 3A
Fraction of Full-Time Student Load 0.125

Attendance Requirements

All on-campus students are expected to attend scheduled classes – in some units, these classes are identified as a mandatory (pass/fail) component and attendance is compulsory. International students, on a student visa, must maintain a full time study load and meet both attendance and academic progress requirements in each study period (satisfactory attendance for International students is defined as maintaining at least an 80% attendance record).

Offerings

Term 2 - 2017
  • Brisbane
  • Cairns
  • Distance
  • Melbourne
  • Sydney
  • Townsville

Website

This unit has a website, within the Moodle system, which is available two weeks before the start of term. It is important that you visit your Moodle site throughout the term. Go to Moodle

Recommended Student Time Commitment

Each 6-credit Postgraduate unit at CQUniversity requires an overall time commitment of an average of 12.5 hours of study per week, making a total of 150 hours for the unit.

Class Timetable

Assessment Overview

Assessment Task Weighting
1. Online Test 10%
2. Written Assessment 30%
3. Examination 60%

This is a graded unit: your overall grade will be calculated from the marks or grades for each assessment task, based on the relative weightings shown in the table above. You must obtain an overall mark for the unit of at least 50%, or an overall grade of ‘pass’ in order to pass the unit. If any ‘pass/fail’ tasks are shown in the table above they must also be completed successfully (‘pass’ grade). You must also meet any minimum mark requirements specified for a particular assessment task, as detailed in the ‘assessment task’ section (note that in some instances, the minimum mark for a task may be greater than 50%). Consult the University’s Grades and Results Procedures for more details of interim results and final grades.

All University policies are available on the IMPortal.

You may wish to view these policies:

  • Grades and Results Procedure
  • Assessment Policy and Procedure (Higher Education Coursework)
  • Review of Grade Procedure
  • Academic Misconduct Procedure
  • Monitoring Academic Progress (MAP) Policy and Procedure – Domestic Students
  • Monitoring Academic Progress (MAP) Policy and Procedure – International Students
  • Refund and Excess Payments (Credit Balances) Policy and Procedure
  • Student Feedback – Compliments and Complaints Policy and Procedure
  • Acceptable Use of Information and Communications Technology Facilities and Devices Policy and Procedure

This list is not an exhaustive list of all University policies. The full list of University policies are available on the IMPortal.

Feedback, Recommendations and Responses

Every unit is reviewed for enhancement each year. At the most recent review, the following staff and student feedback items were identified and recommendations were made.

Feedback Source Recommendation
Tutorial questions need to be available on Moodle. Evaluation survey Tutorial questions are available to students via Moodle.
Aplia is hard to navigate. Informal feedback. Consider changing Aplia to online quiz.
On successful completion of this unit, you will be able to:
  1. evaluate the theory of demand and supply in relation to price determination and examine some cases of market failure
  2. critically compare and contrast the characteristics of different market structures regarding the allocation of resources
  3. explain the macroeconomic concepts and demonstrate their application to study inflation and unemployment
  4. examine monetary and financial systems, the role of international trade, exchange rates and balance of payments issues and communicate these in economic terms.

Alignment of Assessment Tasks to Learning Outcomes

Assessment Tasks Learning Outcomes
1 2 3 4
1 - Online Test    
2 - Written Assessment    
3 - Examination

Alignment of Graduate Attributes to Learning Outcomes

  • Professional Level
  • Advanced Level
Graduate Attributes Learning Outcomes
1 2 3 4
1. Knowledge
2. Communication
3. Cognitive, technical and creative skills
4. Research    
5. Self-management
6. Ethical and Professional Responsibility        
7. Leadership        

Alignment of Assessment Tasks to Graduate Attributes

  • Professional Level
  • Advanced Level
Assessment Tasks Graduate Attributes
1 2 3 4 5 6 7
1 - Online Test      
2 - Written Assessment    
3 - Examination      

Prescribed Textbooks

Economics for Today
Author/s: Layton, A., Robinson, T. and Tucker, I.B. Year: 2016
Edition: 5th Asia-Pacific Edition Publisher: Cengage Learning
Country: Australia
View textbooks at the CQUniversity Bookshop
Note:

The textbook "Economics for Today" can be purchased from campus bookseller or online:www.cengagebrain.com.au/shop/isbn/9780170347006
Paperback includes eBook and CourseMate online materials.

You can purchase only an eBook with CourseMate online resources from: http://www.cengagebrain.com.au/shop/isbn/9780170378253 that includes ebook, homework revision, videos, quizzes.

Alternatively, you can purchase MindTap (an interactive ebook).
If you buy MindTap, then you dont need to purchase the hard copy of your textbook. More details are available from course Moodle website.

IT Resources

You will need access to the following IT resources:
  • CQUniversity Student Email
  • Internet
  • Unit Website (Moodle)
All submissions for this unit must use the American Psychological Association (APA) referencing style (details can be obtained here). For further information, see the Assessment Tasks below.
Unit CoordinatorGalina Williams (g.williams@cqu.edu.au)
Note: Check the Term-Specific section for any additional contact information provided by the teaching team
Week Begin Date Module/Topic Chapter Events and Submissions
Week 1 10-07-2017

Introduction to the economic way of thinking, production possibilities and opportunity cost

1 & 2

Week 2 17-07-2017

Basics of the market mechanism: demand and supply analysis

3 & 4

Week 3 24-07-2017

Elasticity of demand and supply and production costs

5 & 6

Week 4 31-07-2017

Perfect competition and monopoly

7&8

Week 5 07-08-2017

Monopolistic competition and oligopoly.

9

Vacation Week 14-08-2017
Online test Due Monday (14 Aug 17) 11:45 PM AEST
Week 6 21-08-2017

Policy issues: housing affordability and climate change

10

Week 7 28-08-2017

Macroeconomic fundamentals: GDP and business cycles

11&12

Written Assessment (Research Essay) Due Monday (28 Aug 17) 11:45 PM AEST
Week 8 04-09-2017

Inflation and unemployment. A simple model of macro economy

13&14

Week 9 11-09-2017

The monetary and financial system

15

Week 10 18-09-2017

Macroeconomic policies

16&17

Week 11 25-09-2017

International trade and finance

18

Week 12 02-10-2017

Review Week

Review/Exam Week 09-10-2017
Exam Week 16-10-2017

1 Online Test

Assessment Title Online test
Task Description

The first assessment covers microeconomic topics (Chapters 1 – 9).

It is worth 10 marks and has to be done online. The link is provided on the unit Moodle website.

Assessment Due Date Vacation Week Monday (14-Aug-2017) 11:45 PM AEST
No late submissions will be accepted without an approved extension.
Return Date to Students Marks will be released on the due date.
Weighting 10%
Assessment Criteria

Assessment criteria include: correct calculations, correct diagrams. More details are provided on the unit Moodle website.

Referencing Style American Psychological Association (APA)
Submission Online

Submit your assignment through the link provided on the unit Moodle site.

Learning Outcomes Assessed
This section can be expanded to view the assessed learning outcomes

1. evaluate the theory of demand and supply in relation to price determination and examine some cases of market failure

2. critically compare and contrast the characteristics of different market structures regarding the allocation of resources

Graduate Attributes
This section can be expanded to view the assessed graduate attributes

1. Knowledge

2. Communication

3. Cognitive, technical and creative skills

5. Self-management



2 Written Assessment

Assessment Title Written Assessment (Research Essay)
Task Description

The second assessment is a research essay (3000 words). It is worth 30 marks.

Further details of the assignment are available on the unit Moodle site (Assessment block).

Research essay requires a significant research to be undertaken and will take some time to develop a quality answer.

Penalties (5% of the total available marks for the assessment for each calendar day (full or part) it is overdue) will apply for any late submissions without an approved extension.

Note: No submissions, including the ones automatically submitted by Moodle, will be reverted to draft after the due date. More information about Moodle submission is provided on the unit Moodle website.

Assessment Due Date Week 7 Monday (28-Aug-2017) 11:45 PM AEST
Penalties will apply for any late submissions without an approved extension.
Return Date to Students Week 9 Monday (11-Sep-2017)
Only those students who submit assignments on time can expect this return date.
Weighting 30%
Assessment Criteria

Assessment criteria include: clear explanations of key points of economic theory, evidence of research for case studies and correct in-text referencing following the APA referencing style. More details are provided on the unit Moodle website.

It is important that you familiarise yourself with the Plagiarism policy. The following information is from the Academic Misconduct Procedure Policy available from CQUni website: http://policy.cqu.edu.au/Policy/policy_file.do?policyid=1244.

"Plagiarism – the presentation of work, ideas or data of others as one’s own, without appropriate acknowledgement and referencing. Examples of plagiarism include: the inclusion of one or more sentences from another person’s work without the use of quotation marks and acknowledgement of the source (note that acknowledgement of the source without the use of quotation marks around any copied text still constitutes plagiarism); the use of one or more sentences from the work of another person where a few words have been changed, or where the order of copied phrases/sentences has been changed; copying the work of another student, with or without their agreement; copying tables, graphs, images, designs, computer programs and any other data, ideas or work without appropriate acknowledgement and referencing.

Plagiarism includes self-plagiarism which is the presentation of one’s own work for more than one assessment, without acknowledgement and referencing. Examples include: the reuse of all or part of one’s own work that has already been given academic credit, without acknowledgement. Unless use in a particular instance specifically excludes self-plagiarism, the term ‘plagiarism’ should be regarded as also including self-plagiarism. These procedures apply to students in taught courses: students in independent (one year) Honours degrees, research Masters and PhD courses are covered by the Research Plagiarism Procedures".

Referencing Style American Psychological Association (APA)
Submission Online

Submit your assignment through the link provided on the unit Moodle site. Include your name and student number on your assignment.

Learning Outcomes Assessed
This section can be expanded to view the assessed learning outcomes

1. evaluate the theory of demand and supply in relation to price determination and examine some cases of market failure

2. critically compare and contrast the characteristics of different market structures regarding the allocation of resources

Graduate Attributes
This section can be expanded to view the assessed graduate attributes

1. Knowledge

2. Communication

3. Cognitive, technical and creative skills

4. Research

5. Self-management



Examination

Outline Complete an examination
Date During the University examination period
Weighting 60%
Length 180 minutes
Details Dictionary - non-electronic, concise, direct translation only (dictionary must not contain any notes or comments).
Calculator - non-programmable, no text retrieval, silent only.
Closed Book
Learning Outcomes Assessed
This section can be expanded to view the assessed learning outcomes

1. evaluate the theory of demand and supply in relation to price determination and examine some cases of market failure

2. critically compare and contrast the characteristics of different market structures regarding the allocation of resources

3. explain the macroeconomic concepts and demonstrate their application to study inflation and unemployment

4. examine monetary and financial systems, the role of international trade, exchange rates and balance of payments issues and communicate these in economic terms.

Graduate Attributes
This section can be expanded to view the assessed graduate attributes

1. Knowledge

2. Communication

3. Cognitive, technical and creative skills

5. Self-management


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