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.

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

1. Explain and visualise fundamental economic concepts 
2. Apply basic economic concepts to current business/social problems 
3. Implement economic theory in the form of policies and individual firm behaviour 
4. Evaluate the impact of policies and its economic and social impact 

Subject Content

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

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 University College.

Assessment Methods

• Forum Post and Reflection (10%)
• Economic Analysis (20%)
• Group Case Study Report and Presentation (30%)
• Final Exam (40%)

Prescribed Text

• Mankiw, N.G. Principles of Economics. 10th ed. Cengage Learning, 2023. 

Check with the instructor each semester before purchasing any textbooks