CQUniversity Unit Profile
ECON11030 Production Economics
Production Economics
All details in this unit profile for ECON11030 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.
General Information

Overview

This unit introduces fundamentals of production function: how to convert inputs (eg resources) into products and services. Topics include cost function, profit function, risk and uncertainty and technological change. The unit builds on the microeconomic theory and help students understand the production decisions made by agricultural and other production industries.

Details

Career Level: Undergraduate
Unit Level: Level 1
Credit Points: 6
Student Contribution Band: 7
Fraction of Full-Time Student Load: 0.125

Pre-requisites or Co-requisites

ECON11026 Principles of Economics (prerequisite)

Important note: Students enrolled in a subsequent unit who failed their pre-requisite unit, should drop the subsequent unit before the census date or within 10 working days of Fail grade notification. Students who do not drop the unit in this timeframe cannot later drop the unit without academic and financial liability. See details in the Assessment Policy and Procedure (Higher Education Coursework).

Offerings For Term 1 - 2020

Online

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).

Class and Assessment Overview

Recommended Student Time Commitment

Each 6-credit Undergraduate 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

Bundaberg, Cairns, Emerald, Gladstone, Mackay, Rockhampton, Townsville
Adelaide, Brisbane, Melbourne, Perth, Sydney

Assessment Overview

1. Online Quiz(zes)
Weighting: 20%
2. Written Assessment
Weighting: 30%
3. Written Assessment
Weighting: 50%

Assessment Grading

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 Policy for more details of interim results and final grades.

Unit Learning Outcomes
On successful completion of this unit, you will be able to:
  1. Discuss the economics principles related to production function.
  2. Apply some economic tools and techniques to modelling production decisions in industry.
  3. Compare different market structures and demonstrate how each attempts to achieve maximum profit.

NA

Alignment of Learning Outcomes, Assessment and Graduate Attributes
N/A Level
Introductory Level
Intermediate Level
Graduate Level
Professional Level
Advanced Level

Alignment of Assessment Tasks to Learning Outcomes

Assessment Tasks Learning Outcomes
1 2 3
1 - Online Quiz(zes) - 20%
2 - Written Assessment - 30%
3 - Written Assessment - 50%

Alignment of Graduate Attributes to Learning Outcomes

Graduate Attributes Learning Outcomes
1 2 3
1 - Communication
2 - Problem Solving
3 - Critical Thinking
4 - Information Literacy
5 - Team Work
6 - Information Technology Competence
7 - Cross Cultural Competence
8 - Ethical practice
9 - Social Innovation
10 - Aboriginal and Torres Strait Islander Cultures

Alignment of Assessment Tasks to Graduate Attributes

Assessment Tasks Graduate Attributes
1 2 3 4 5 6 7 8 9 10
1 - Online Quiz(zes) - 20%
2 - Written Assessment - 30%
3 - Written Assessment - 50%
Textbooks and Resources

Textbooks

There are no required textbooks.

IT Resources

You will need access to the following IT resources:
  • CQUniversity Student Email
  • Internet
  • Unit Website (Moodle)
Referencing Style

All submissions for this unit must use the referencing style: American Psychological Association 6th Edition (APA 6th edition)

For further information, see the Assessment Tasks.

Teaching Contacts
Garrick Small Unit Coordinator
g.small@cqu.edu.au
Anita Medhekar Unit Coordinator
a.medhekar@cqu.edu.au
Hong To Unit Coordinator
h.to@cqu.edu.au
Schedule
Week 1 Begin Date: 09 Mar 2020

Module/Topic

Introduction to Farm Management

Chapter

Course notes

Selected readings

Events and Submissions/Topic


Week 2 Begin Date: 16 Mar 2020

Module/Topic

Microeconomics

Chapter

Course notes

Selected readings

Events and Submissions/Topic

Online quiz for Week 1 is due on Wednesday 18/3/2020

Week 3 Begin Date: 23 Mar 2020

Module/Topic

Financial Management

Chapter

Course notes

Selected readings

Events and Submissions/Topic

Online quiz for Week 2 is due on Wednesday 25/3/2020

Week 4 Begin Date: 30 Mar 2020

Module/Topic

Budgets

Chapter

Course notes

Selected readings

Events and Submissions/Topic

Online quiz for Week 3 is due on Wednesday 1/4/2020

Week 5 Begin Date: 06 Apr 2020

Module/Topic

Investment Analysis

Chapter

Course notes

Selected readings

Events and Submissions/Topic

Online quiz for Week 4 is due on Wednesday 8/4/2020

Vacation Week Begin Date: 13 Apr 2020

Module/Topic


Chapter


Events and Submissions/Topic


Week 6 Begin Date: 20 Apr 2020

Module/Topic

Macro Economics

Chapter

Course notes

Selected readings

Events and Submissions/Topic

Online quiz for Week 5 is due on Wednesday 22/4/2020

Week 7 Begin Date: 27 Apr 2020

Module/Topic

Supply Chains

Chapter

Course notes

Selected readings

Events and Submissions/Topic

Online quiz for Week 6 is due on Wednesday 29/4/2020

Assignment 1 due on Friday 1/5/2020

Week 8 Begin Date: 04 May 2020

Module/Topic

Government Policies

Chapter

Course notes

Selected readings

Events and Submissions/Topic

Online quiz for Week 7 is due on Wednesday 6/5/2020

Week 9 Begin Date: 11 May 2020

Module/Topic

Measuring Productivity in Agriculture

Chapter

Course notes

Selected readings

Events and Submissions/Topic

Online quiz for Week 8 is due on Wednesday 13/5/2020

Week 10 Begin Date: 18 May 2020

Module/Topic

Productivity Trends in Australian Agriculture

Chapter

Course notes

Selected readings

Events and Submissions/Topic

Online quiz for Week 9 is due on Wednesday 20/5/2020

Week 11 Begin Date: 25 May 2020

Module/Topic

Industry Case Study

Chapter

Course notes

Selected readings

Events and Submissions/Topic

Online quiz for Week 10 is due on Wednesday 27/5/2020

Week 12 Begin Date: 01 Jun 2020

Module/Topic

Revision

Chapter


Events and Submissions/Topic


Review/Exam Week Begin Date: 08 Jun 2020

Module/Topic


Chapter


Events and Submissions/Topic

Assignment 2 due on Friday12/6/2020

Exam Week Begin Date: 15 Jun 2020

Module/Topic


Chapter


Events and Submissions/Topic


Assessment Tasks

1 Online Quiz(zes)

Assessment Title
Assessment Task 1 - Online Quiz(zes)

Task Description

There are weekly quiz questions for Weeks 1 through to 10 in the unit. The questions will be available on the Moodle Website for the unit.

The weekly quiz questions take three main forms: True/False questions, Multiple Choice questions and Short Answer Questions. Most weeks involve a mixture of these types of questions.

There are two marks for each week. Over 10 weeks, this will be 20% of the unit assessment.

There will be up to 20 questions in each weekly quiz. The questions have equal weighting unless otherwise specified in the weekly quiz. The marks for each week will be standardised to be assessed from 2% of the unit marks.

Students are to upload the answers to the weekly questions on the Moodle site by the Wednesday of the week following each lecture in Weeks 1 to 10 (i.e. quiz answers are to be uploaded on the Wednesday of Weeks 2 to 11).


Number of Quizzes

10


Frequency of Quizzes

Weekly


Assessment Due Date

By 11.59 pm on the Wednesday of Weeks 2 to 11


Return Date to Students

Answers to each short answer quiz will be available on the Friday of Weeks 2 to 11.


Weighting
20%

Assessment Criteria

The assessment criteria for True/False and Multiple Choice questions will be whether or not the answer is correct.

For any short answer questions (including definition and example questions), the assessment criteria will include:

  • the appropriateness of the answer provided
  • the accuracy of the information provided
  • the clarity and logical expression of the short answer


Referencing Style

Submission
Online

Learning Outcomes Assessed
  • Apply some economic tools and techniques to modelling production decisions in industry.


Graduate Attributes
  • Problem Solving
  • Critical Thinking
  • Information Technology Competence

2 Written Assessment

Assessment Title
Assessment Task 2 - Written Assignment 1

Task Description

The first written assessment task is broken up into six topics, one for each week in the first half of the unit. The questions can generally be answered with actual or short answers, although there is scope for slightly longer answers in parts of a couple of questions. It is appropriate to provide your answers in summary formats, including the use of dot points or numbers where appropriate.

A video presentation on this assessment task will be available on the Moodle site for this unit, to give you further support.

Please note the following details:

· As a guideline, the length of the main body of your essay should be around 1000 words or so, excluding references - essays that are substantially longer than this (say over 1500 words) are unlikely to score as highly as those that make the best use of the 1000 word length (being on-target and making the best use of the word allocation is always better than being off-message). However, you should not worry about a few words either way (this is a guideline only, and I do not have a 'negative marking scheme' where marks are deducted if the word count is more than 10% over the guideline).

· Text should be word-processed, with appropriate layout and use of headings/sub-headings for the different questions and sub-questions. Font and line spacing are not part of the assessment criteria, listed below.

· Diagrams can be used to illustrate specific aspects - a picture paints ten thousand words! (please ensure that you correctly cite/reference all sources of diagrams used, unless they are original and composed by you, since this is an important aspect of academic integrity).

· Please avoid images with very large file sizes, as this will make your essay too large to upload/download (save any images as lower resolution, to decrease the file size).

· Any references can be listed on the last page, at the end of the assessment. Referencing should be in a consistent style - typically APA.

· Please save/upload your file in either a Word format (.doc or .docx) or in a basic text format (for example, .rtf), so that I can open the files in Word. Note: further support on writing, referencing, etc. is given on the Moodle site for this unit.


Assessment Due Date

Friday Week 7, the 1st of May at 11.59 pm.


Return Date to Students

Friday Week 9, the 15th of May at 5:30 pm.


Weighting
30%

Assessment Criteria

The essay will be marked by the accuracy of the answers to the relevant questions. Other key criteria of relevance are:

  • The quality of the case study(s)
  • The logical framework used to structure answers and provide information
  • Demonstration of understanding of key concepts

Two other criteria that are important but not as critical are:

  • The presentation of the answers, including the writing style
  • Referencing any additional material that is cited or provided.


Referencing Style

Submission
Online

Learning Outcomes Assessed
  • Discuss the economics principles related to production function.
  • Apply some economic tools and techniques to modelling production decisions in industry.


Graduate Attributes
  • Communication
  • Problem Solving
  • Critical Thinking
  • Information Literacy
  • Information Technology Competence

3 Written Assessment

Assessment Title
Assessment Task 3 - Written Assignment 2

Task Description

The second written assessment task has a more case study focus, although you should look to demonstrate your understanding of key principles in the case study analysis. It is appropriate to provide some information in summary formats, including the use of dot points or numbers where appropriate, but within the context of an assignment structure.

Please note the following details:

· As a guideline, the length of the main body of your essay should be around 3000 words, excluding references - essays that are substantially longer than this (say over 3500 words) or shorter than this (say less than 2000 words) are unlikely to score as highly as those that make the best use of the 3000 word target length (being on-target and making the best use of the word allocation is always better than being off-message). However, you should not worry about a few words either way (this is a guideline only, and I do not have a 'negative marking scheme' where marks are deducted if the word count is more than 10% over the guideline).

· Text should be word-processed, with appropriate layout and use of headings/sub-headings for the different questions and sub-questions. Font and line spacing are not part of the assessment criteria, listed below.

· Diagrams and figures can be used to illustrate specific aspects - a picture paints ten thousand words! (please ensure that you correctly cite/reference all sources of diagrams used, unless they are original and composed by you, since this is an important aspect of academic integrity).

· Please avoid images with very large file sizes, as this will make your essay too large to upload/download (save any images as lower resolution, to decrease the file size).

· Any references can be listed on the last page, at the end of the assessment. Referencing should be in a consistent style - typically APA.

· Please save/upload your file in either a Word format (.doc or .docx) or in a basic text format (for example, .rtf), so that I can open the files in Word. Note: further support on writing, referencing, etc. is given on the Moodle site for this course.

Further information, including the criteria for assessment of the assignment, will be available through the Moodle site.


Assessment Due Date

Friday of Review Week, 12th of June 2020 at 11.59 pm.


Return Date to Students

Assessment will be returned after certification of grades


Weighting
50%

Assessment Criteria

The key criteria for assessment will include the following:

  • The appropriateness of the case study(s) and the clarity of description
  • The identification and logical presentation of the relevant factors affecting the industry and production
  • The quality of the summary analysis about Australian agricultural production and trends
  • The accuracy and quality of the discussion about productivity analysis
  • The linking of the case study issues to macro economic forces and trends

Other criteria that has some level of importance includes:

  • The presentation of the essay
  • The quality of writing and expression


Referencing Style

Submission
Online

Learning Outcomes Assessed
  • Discuss the economics principles related to production function.
  • Apply some economic tools and techniques to modelling production decisions in industry.
  • Compare different market structures and demonstrate how each attempts to achieve maximum profit.


Graduate Attributes
  • Communication
  • Problem Solving
  • Critical Thinking
  • Information Literacy
  • Information Technology Competence

Academic Integrity Statement

As a CQUniversity student you are expected to act honestly in all aspects of your academic work.

Any assessable work undertaken or submitted for review or assessment must be your own work. Assessable work is any type of work you do to meet the assessment requirements in the unit, including draft work submitted for review and feedback and final work to be assessed.

When you use the ideas, words or data of others in your assessment, you must thoroughly and clearly acknowledge the source of this information by using the correct referencing style for your unit. Using others’ work without proper acknowledgement may be considered a form of intellectual dishonesty.

Participating honestly, respectfully, responsibly, and fairly in your university study ensures the CQUniversity qualification you earn will be valued as a true indication of your individual academic achievement and will continue to receive the respect and recognition it deserves.

As a student, you are responsible for reading and following CQUniversity’s policies, including the Student Academic Integrity Policy and Procedure. This policy sets out CQUniversity’s expectations of you to act with integrity, examples of academic integrity breaches to avoid, the processes used to address alleged breaches of academic integrity, and potential penalties.

What is a breach of academic integrity?

A breach of academic integrity includes but is not limited to plagiarism, self-plagiarism, collusion, cheating, contract cheating, and academic misconduct. The Student Academic Integrity Policy and Procedure defines what these terms mean and gives examples.

Why is academic integrity important?

A breach of academic integrity may result in one or more penalties, including suspension or even expulsion from the University. It can also have negative implications for student visas and future enrolment at CQUniversity or elsewhere. Students who engage in contract cheating also risk being blackmailed by contract cheating services.

Where can I get assistance?

For academic advice and guidance, the Academic Learning Centre (ALC) can support you in becoming confident in completing assessments with integrity and of high standard.

What can you do to act with integrity?