|Offered:||Study Period 1|
|Census Date:||February 3rd 2023|
|Subject Coordinator:||To be advised|
|Expected time commitment per week:||7 hours of class contact online or on campus, approximately 13 hours of self-directed learning|
This subject covers concepts in macroeconomics and microeconomics and provides students with an understanding of various economic interrelationships, both domestic and international, which will help them to reach informed business decisions in the highly dynamic world of business. The subject will lay the foundation for further study in economics.
The microeconomics component of the subject introduces the economic principle of supply and demand, which builds the foundation for understanding topics such as market forces, externalities, the environment, competition, the role of governments in markets, price and output determination under different market structures, and trade.
The macroeconomics component of the subject explains existing theories of economic growth with extensive policy applications. It also covers economic (e.g. inflation) and social (e.g. employment) goals to be pursued at the national and global level in order to achieve economic development and environmental sustainability.
Tutorial Activities – 30%
Report - 25%
Final Exam - 45%