Details for Economics
This subject introduces students to the approach and theoretical tools of contemporary mainstream economics. It sets economics in its historical, ethical and theological contexts. There will be a special study of the economics of religious behaviour and institutions.
Quick Info
- Currently offered by Alphacrucis: Yes
- Course code: BUS102
- Credit points: 10
- Subject coordinator: Philip Lee
Prerequisites
Nil
Awards offering Economics
This unit is offered as a part of the following awards:
- Associate Degree in Business
- Associate Degree in Ministry
- Bachelor of Arts
- Bachelor of Arts and Bachelor of Applied Social Science
- Bachelor of Arts and Bachelor of Business
- Bachelor of Arts and Bachelor of Education (Secondary)
- Bachelor of Business
- Bachelor of Business and Bachelor of Ministry
- Bachelor of Business and Bachelor of Theology
- Diploma of Arts
- Diploma of Business and Diploma of Entrepreneurship
- Diploma of Business and Diploma of Leadership
- Diploma of Business and Diploma of Ministry
- Diploma of Chaplaincy
- Diploma of Chaplaincy and Diploma of Leadership
- Diploma of Chaplaincy and Diploma of Ministry
- Diploma of Entrepreneurship and Diploma of Leadership
- Diploma of Entrepreneurship and Diploma of Ministry
- Undergraduate Certificate in Arts
- Undergraduate Certificate in Business Studies
- Undergraduate Certificate in Ministry
Unit Content
Outcomes
- Identify and explain economic systems and the concept of resource allocation;
- Ability to explain basic economics concepts
- Skill in applying basic economic concepts to a public policy issue;
- Discuss the implementation and impact of economic policy;
- Skill in applying basic economic concepts to a business problem;
- Identify and explain the role of individuals and businesses in markets;
- Recognise regulatory and political environments and how they impact on business.
Subject Content
- Introduction to Economics
- Supply and Demand
- Elasticity
- Externalities and Public Goods
- Production and Costs, Market Structures, Competition, Monopoly, Monopsony
- Labour Markets, Inequality and Poverty
- Macroeconomics, Money, Interest Rates and the Financial System
- Growth and Business Cycles, Inflation, Unemployment, Monetary and Fiscal Policy
- International Trade and Exchange Rates
- Economics of Religion
This course may be offered in the following formats
- Face-to-Face
- Distance / Global Online
Assessment Methods
- Online Exams (20%)
- Economic Analysis (15%)
- Group Case Study (15%)
- Exam (50%)
Prescribed Text
- Gans J., King, S., Stonecash, R., Byford,M., Libich, J. & Mankiw, N.G. Principles of Economics: Australia and New Zealand Edition, 6th Ed, South Melbourne, Vic: Cengage Learning, 2015.
Check with the instructor each semester before purchasing any textbooks