1. General Course Information
1.1 COURSE DETAILS
Course: ECON 7200 Economic Principles (M) Coordinating Unit: School of Economics, Faculty of the Professions
Teaching Period: Semester 2 Year: 2013 Mode: Internal
Level: Postgraduate Coursework
Contact: 4 hours per week
Prerequisites: Not applicable
Co-requisites: Not applicable
Incompatible: Not applicable
Assumed Knowledge: Not applicable
Restrictions: Available to M Commerce, M Accounting & Finance, M Accounting & Performance Management, M Accounting & Marketing, M Applied Finance, M Finance & Business Economics, Grad. Dip. in Global Wealth Management students only. Not available to students enrolled in Economics Postgraduate coursework programs
Quota: Not applicable
Course Description: The purpose of this course is to introduce students to the basic principles of macroeconomics and microeconomics so that they can understand economic events and the behaviour of the various economic agents involved, analyse their impact on markets and propose appropriate courses of action. To do this, the student should be able to utilise the tools of economic analysis to perform company and industry competitive analysis and should understand and be conversant with the various economic indicators used.
1.2 Course Staff
Name: Dr Steven Barrett
Location: Room 333, Level 3, Nexus 10 Building 10 Pulteney Street Adelaide
Telephone: +61 8313 6405 email: firstname.lastname@example.org
Course Website: www.myuni.adelaide.edu.au
1.3 course Timetable
Students are required to attend one, two hour lecture per week for 12 weeks. Dr Barrett will visit DUFE in the week beginning 4 November, as part of his teaching that week we will conduct a course review/examination preparation session.
Students are required to attend one, two hour tutorial per week.
Tutorials start in week 2, please refer to the information below, under the heading Assessment, for information about the first tutorial. The first tutorial is an “Ice breaker” session.
The tutorials in weeks 3 to 12 address the questions set out in the Duloc Case Study. Students are expected to read this case study and engage with it and contribute to class discussions. Material from the case study, which is explored in tutorials, forms a major component of the final examination.
Consultation and communication
Your first point of contact should be with your local lecturer, Dr Gu. However, Dr Barrett is always more than happy to respond to student concerns, via email. Dr Barrett will be respond to email within two working days, wherever possible.
2. LEARNING OBJECTIVES
2.1 COURSE Learning Objectives
Economics is often divided into two microeconomics and macroeconomics. Microeconomics focuses on the behaviour of the economic units, such as firms, households and individuals. Macroeconomics looks at the economy as a whole, especially the behaviour of aggregate measures such as the rate of unemployment, the rate of inflation, gross domestic product, exchange rates, economic growth and the business cycle. We will be selecting issues from both fields for your attention. Basic theoretical tools are introduced as required to deal with the issues being discussed. In the process, we will introduce you to a large number of economic concepts, analytical tools, the ‘language’ of economists and why it is pertinent that Master of Commerce students understand these. The aim of the course is to provide students with an understanding of the key macroeconomics and microeconomics principles in order to make effective business decisions. That is, the aim of the course is to develop your economic literacy skills.
As you study each topic it will be related to a current economic policy question, management or business strategy issue or social issue. By the time you complete this course, you should be able analyse a business problem form an economic