Unit Synopsis
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 study microeconomics (how individual businesses and sectors operate) and macroeconomics (how an economy works as a whole). You will 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.
Details
| Level | Postgraduate |
|---|---|
| Unit Level | 8 |
| Credit Points | 6 |
| Student Contribution Band | SCA Band 4 |
| Fraction of Full-Time Student Load | 0.125 |
| Pre-requisites or Co-requisites |
Anti-Requisite: Econ20023 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). |
| Class Timetable | View Unit Timetable |
| Residential School | No Residential School |
Unit Availabilities from Term 1 - 2026
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).
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.
Assessment Tasks
| Assessment Task | Weighting |
|---|---|
| 1. Online Quiz(zes) | 15% |
| 2. Written Assessment | 35% |
| 3. Online Quiz(zes) | 15% |
| 4. Written Assessment | 35% |
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%).
Past Exams
All University policies are available on the Policy web site, however you may wish to directly view the following policies below.
This list is not an exhaustive list of all University policies. The full list of policies are available on the Policy web site.
Term 1 - 2025 : The overall satisfaction for students in the last offering of this course was 63.16% (`Agree` and `Strongly Agree` responses), based on a 21.84% response rate.
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.
Source: Informal student feedback.
Have practice for essay writing.
Continue to encourage students to use a peer review activity to practice their writing skills.
Opportunity was given to students to do the peer review activity.
Source: Self-evaluation and student engagement and retention activity
An earlier awareness of the students at risk
Continue monitor and contact the students in early weeks who did not engage with the unit via Moodle.
At risk students were contacted via Student Success and Moodle
Source: Self-evaluation
Adress different types of learning
Provide information about MindTap as an alternative to the hardcopy textbook at the beginning of each lecture in the first few weeks.
Information was provided
Source: Self-reflection
Discuss assignments in class in more details
Provide additional explanation regarding assignments requirements during classes
In Progress
Source: Self-reflection and students comments
The process for requesting extensions is unclear to students and may benefit from clearer guidance or communication.
Provide clear guidance in the first week of classes
In Progress
On successful completion of this unit, you will be able to:
- evaluate the theory of demand and supply in relation to price determination and examine some cases of market failure
- critically compare and contrast the characteristics of different market structures regarding the allocation of resources
- explain the macroeconomic concepts and demonstrate their application to study inflation and unemployment
- examine monetary and financial systems, the role of international trade, exchange rates and balance of payments issues and communicate these in economic terms.
| Assessment Tasks | Learning Outcomes | |||
|---|---|---|---|---|
| 1 | 2 | 3 | 4 | |
| 1 - Online Quiz(zes) | • | • | ||
| 2 - Written Assessment | • | • | ||
| 3 - Online Quiz(zes) | • | • | ||
| 4 - Written Assessment | • | • | ||
| Graduate Attributes | Learning Outcomes | |||
|---|---|---|---|---|
| 1 | 2 | 3 | 4 | |
| 1 - Knowledge | • | • | • | • |
| 2 - Communication | • | • | • | • |
| 3 - Cognitive, technical and creative skills | • | • | • | • |
| 4 - Research | • | • | • | • |
| 5 - Self-management | • | • | • | • |
| Assessment Tasks | Graduate Attributes | ||||||||
|---|---|---|---|---|---|---|---|---|---|
| 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | 8 | |