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 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

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 There are no pre-requisites for the unit.

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 - 2021

Term 1 - 2021 Profile
Brisbane
Melbourne
Online
Sydney
Term 2 - 2021 Profile
Brisbane
Melbourne
Online
Sydney
Term 3 - 2021 Profile
Brisbane
Melbourne
Online
Sydney
Term 1 - 2022 Profile
Brisbane
Melbourne
Online
Sydney
Term 2 - 2022 Profile
Brisbane
Melbourne
Online
Sydney
Term 3 - 2022 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. Research Assignment 35%
3. Online Test 15%
4. Research Assignment 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%).

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 - 2020 : The overall satisfaction for students in the last offering of this course was 4.2 (on a 5 point Likert scale), based on a 65.48% 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: Unit evaluation
Feedback
More explanation for graphs
Recommendation
Spend more time on explaining graphs during lecture and review the understanding during tutorial
Action Taken
A considerable amount of time is spent in relevant parts of the lectures and tutorials on graphs to make sure students understood them well.
Source: Unit evaluation
Feedback
Tutorial answers should be available
Recommendation
Answers to the end of the chapter questions for the mandatory textbook are uploaded on Moodle.
Action Taken
Answers are available on Moodle.
Source: Unit evaluation
Feedback
Explain how to find real data using internet
Recommendation
During lecture/tutorials students will be shown how to search library database.
Action Taken
Students are shown how to find data and links to the library and databases are provided during the class.
Source: Grade results
Feedback
High failure rate
Recommendation
The assessment strategy will be reviewed.
Action Taken
The final exam is replaced by the online quiz and research essay.
Source: Students Evaluation Survey
Feedback
The format for the first assessment should be provided early on so students could have time to apply it to the essay
Recommendation
Provide details of the assignments early in the term.
Action Taken
Nil.
Source: Students Evaluation Survey
Feedback
An email reminder of assessment.
Recommendation
Continue to remind students by email regarding upcoming deadlines.
Action Taken
Nil.
Source: Students Evaluation Survey
Feedback
The topic is well explained and understood easily. The topics were quite good to understand, and the teaching provided great assistance also.
Recommendation
Continue to explain topics well while providing necessary assistance.
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 - Research Assignment
3 - Online Test
4 - Research Assignment
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
1 - Online Test
2 - Research Assignment
3 - Online Test
4 - Research Assignment