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

Awards offering Economics

This unit is offered as a part of the following awards:

Unit Content


1.    Ability to explain basic economics concepts, including:

  • Scarcity, opportunity cost, marginal analysis;
  • Supply and demand;
  • Market efficiency and market failure;
  • Cost-benefit principle;
  • Forecasting;
  • Growth, employment and fluctuations;
  • Real vs nominal;
  • International Trade

2.    Skill in applying basic economic concepts to a public policy issue;

3.    Skill in applying basic economic concepts to a business problem.

Subject Content

  1. Introduction to Economics
  2. Supply and Demand
  3. Elasticity
  4. Externalities and Public Goods
  5. Discussion of Assignment
  6. Production and Costs
  7. Market Structures
  8. Competition, Monopoly, Monopsony.
  9. Labour Markets,
  10. Inequality and Poverty.
  11. Macroeconomics.
  12. Money, Interest Rates and the Financial System.
  13. Growth and Business Cycles
  14. Inflation
  15. Unemployment
  16. Monetary and Fiscal Policy
  17. International Trade
  18. Exchange Rates
  19. Economics of Religion
  20. Religious Economics

This course may be offered in the following formats

  • Face-to-Face
  • Distance / Global Online

Please consult your course prospectus or enquire about how and when this course will be offered next at Alphacrucis College.

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