ECON40018 - Foundations of Economics

General Information

Unit Synopsis

This unit introduces students to the study of Economics, developing their understanding of the basic economic theories and a general awareness of economics within the Australian context. Students will learn to draw, label and describe graphs to support their understanding and will be provided with opportunities to apply theory to relevant real life situations drawn from the Australian economy. The unit also aims to develop students' confidence in using economic terms and concepts.

Details

Level Non-award
Unit Level Not Applicable
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 3 - 2019

There are no availabilities for this unit on or after Term 3 - 2019

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 Non-award 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) 20%
2. Written Assessment 30%
3. Portfolio 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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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.

Unit learning Outcomes

On successful completion of this unit, you will be able to:

  1. Use economic terms and concepts in appropriate contexts.
  2. Explain economic problems and assumptions.
  3. Access the theories of supply and demand, constructing relevant graphs to show changes and shifts in the curves.
  4. Analyse market types by identifying how cost and revenue are determined.
  5. Select appropriate academic sources to discuss Australia's macroeconomic policy.
  6. Analyse the impact of economic decisions on domestic and international contexts.

Alignment of Assessment Tasks to Learning Outcomes
Assessment Tasks Learning Outcomes
1 2 3 4 5 6
1 - Online Quiz(zes)
2 - Written Assessment
3 - Portfolio
Alignment of Graduate Attributes to Learning Outcomes
Graduate Attributes Learning Outcomes
1 2 3 4 5 6
1 - Self Management
2 - Communication
3 - Information Literacy
4 - Information Technology Competence
5 - Problem Solving
6 - Critical Thinking
7 - Cross-Cultural Competence
8 - Ethical Practice
Alignment of Assessment Tasks to Graduate Attributes
Assessment Tasks Graduate Attributes
1 2 3 4 5 6 7 8
1 - Online Quiz(zes)
3 - Portfolio
2 - Written Assessment