ECON20039 - Economics for Managers

General Information

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 3 - 2023

Term 3 - 2023 Profile
Brisbane
Melbourne
Online
Sydney
Term 1 - 2024 Profile
Brisbane
Melbourne
Online
Sydney
Term 2 - 2024 Profile
Brisbane
Melbourne
Online
Sydney
Term 3 - 2024 Profile
Brisbane
Melbourne
Online
Sydney

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).

Assessment Overview

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 Test 15%
2. Written Assessment 35%
3. Examination 50%

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

Past Exams

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Previous Feedback

Term 1 - 2023 : The overall satisfaction for students in the last offering of this course was 88.57% (`Agree` and `Strongly Agree` responses), based on a 22.09% 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
Feedback
Provide practice for the final assessment
Recommendation
Allocate time for practice and set up a practice session
Action Taken
The practice sessions were set up for students to practice for the exam.
Source: Informal student feedback.
Feedback
Have practice for essay writing.
Recommendation
Create activity where students can have a peer review writing practice.
Action Taken
A peer review activity was introduced for students to practice their writing and peer review.
Source: Grade results
Feedback
High failure rate
Recommendation
Review the assessment strategy.
Action Taken
More practice for the assessments were included in the tutorials.
Source: Informal student feedback
Feedback
Explain how to find real data for the assignment.
Recommendation
Provide information about sources of data and give examples. Show students how to search library database.
Action Taken
Nil.
Source: Informal student feedback and grade results.
Feedback
Some students were not sure how to reference.
Recommendation
Show students how to reference in a particular style.
Action Taken
Nil.
Unit learning Outcomes

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
Advanced Level
Professional Level
Graduate Attributes Learning Outcomes
1 2 3 4
1 - Knowledge
2 - Communication
3 - Cognitive, technical and creative skills
4 - Research
5 - Self-management
Alignment of Assessment Tasks to Graduate Attributes
Advanced Level
Professional Level
Assessment Tasks Graduate Attributes
1 2 3 4 5 6 7 8