Course Outline

BUS102 Economics for Business

Course Coordinator:Suzi Jordan (sjordan@usc.edu.au) School:School of Business and Creative Industries

2026Trimester 2

UniSC Sunshine Coast

UniSC Moreton Bay

Blended learning Most of your course is on campus but you may be able to do some components of this course online.

Online

Online You can do this course without coming onto campus, unless your program has specified a mandatory onsite requirement.

Please go to unisc.edu.au for up to date information on the
teaching sessions and campuses where this course is usually offered.

What is this course about?

Description

This introductory course provides a comprehensive foundation in the field of Economics. You will understand the fundamental principles governing economic systems and decision-making processes by exploring key concepts and theories. Strong emphasis will be placed on critical thinking and problem-solving, challenging you to apply economic principles to real-world scenarios. You will develop a holistic understanding of economics and its significance in individual decision-making, societal welfare, and global economic issues. The course is structured into three modules: Macroeconomics, Microeconomics, and International Economics, where each module addresses different United Nations' Sustainable Development Goals (SDGs).

How will this course be delivered?

Activity Hours Beginning Week Frequency
Blended learning
Learning materials – Asynchronous online delivery of learning material 1hr Week 1 11 times
Tutorial/Workshop 1 – Synchronous and scheduled face to face workshops 2hrs Week 1 11 times
Online
Learning materials – Asynchronous online delivery of learning material 1hr Week 1 11 times
Tutorial/Workshop 1 – Synchronous online workshops (Recorded) 2hrs Week 1 11 times

Course Topics

  • Economics: foundations and models
  • Choice and opportunity costs
  • GDP and business cycle
  • Unemployment and inflation
  • Money and monetary policy
  • Fiscal policy
  • The market system: supply and demand
  • Elasticity
  • The efficiency of the market system, Government price-setting and taxes
  • Market structures and marginal analysis
  • The role of Government
  • Comparative advantage and international trade
  • Balance of Payments and exchange rate systems

 

 

What level is this course?

100 Level (Introductory)

Engaging with discipline knowledge and skills at foundational level, broad application of knowledge and skills in familiar contexts and with support. Limited or no prerequisites. Normally, associated with the first full-time study year of an undergraduate program.

What is the unit value of this course?

12 units

How does this course contribute to my learning?

Course Learning Outcomes On successful completion of this course, you should be able to... Graduate Qualities Mapping Completing these tasks successfully will contribute to you becoming... Professional Standard Mapping * Competencies from multiple Professional Bodies (see below) *
1 Demonstrate knowledge and application of macroeconomic principles Knowledgeable
Sustainability-focussed
PC3.1, PC6, PC6.2, 8, 10.1.2
2 Understand and evaluate economic issues and make connections with relevant theory Knowledgeable
Creative and critical thinker
Sustainability-focussed
PC3, PC3.1, PC4, PC6, PC6.2
3 Demonstrate knowledge of microeconomic principles and international economics and how they apply in real-world situations. Knowledgeable
Creative and critical thinker
Sustainability-focussed
1.1.1, PC1, PC3, PC3.1, PC6.2, 10.1.2, 17.1.1
4 Demonstrate advanced communication and referencing skills Knowledgeable
Creative and critical thinker
PC1.1, PC1.3, PC6

* Competencies by Professional Body

CODE COMPETENCY
Association to Advance Collegiate Schools of Business
PC1 Communication
PC1.1 Written Communication
PC1.3 Digital Literacy
PC3 Creative and Critical Thinking
PC3.1 Problem Solving
PC4 Community Consciousness
PC6 Career-ready
PC6.2 Discipline Knowledge
Education for Sustainable Development Goals
1.1.1 The learner understands the concepts of extreme and relative poverty and is able to critically reflect on their underlying cultural and normative assumptions and practices.
8 Decent Work and Economic Growth: Promote sustained, inclusive and sustainable economic growth, full and productive employment and decent work for all
10.1.2 The learner knows indicators that measure and describe inequalities and understands their relevance for decision-making.
17.1.1 The learner understands global issues, including issues of financing for development, taxation, debt and trade policies, and the interconnectedness and interdependency of different countries and populations.

Am I eligible to enrol in this course?

Refer to the UniSC Glossary of terms for definitions of “pre-requisites, co-requisites and anti-requisites”.

Pre-requisites

Not applicable

Co-requisites

Not applicable

Anti-requisites

Not applicable

Specific assumed prior knowledge and skills (where applicable)

Not applicable

Microcredential Information

Not applicable

How am I going to be assessed?

Grading Scale

Standard Grading (GRD)

High Distinction (HD), Distinction (DN), Credit (CR), Pass (PS), Fail (FL).

Details of early feedback on progress

Practice online tests will be available through the trimester starting from week 1. They are formative assessments, self-graded with immediate feedback to students.

Assessment tasks

Delivery mode Task No. Assessment Product Individual or Group Weighting % What is the duration / length? When should I submit? Where should I submit it?
All 1 Written Piece Individual 20%
600 words
Week 4 Online Assignment Submission with plagiarism check
All 2 Written Piece Individual 30%
1000-1200 words
Week 8 Online Assignment Submission with plagiarism check
All 3 Written Piece Individual 50%
1500 words
Exam Period Online Submission
All - Assessment Task 1:Macroeconomic analysis
Goal:
To demonstrate knowledge and application of macroeconomic principles.
Product: Written Piece
Authorship Statement:
Format:
This is an individual assessment. 
Short answer questions to evaluate macroeconomic indicators.
Further details will be provided in the assessment area in Canvas
Criteria:
No. Learning Outcome assessed
1
Demonstrate understanding of macroeconomic theory
1
2
Demonstrate accurate use of macroeconomic terminology
4
3
Identification, application and interpretation of macroeconomic data
1
4
Demonstrate application of macroeconomic theory in a context
1
5
Demonstrate appropriate use of Harvard citation style
4
Generic Skills:
Communication, Information literacy
All - Assessment Task 2:Analysis of media article
Goal:
To apply economic theory to demonstrate an understanding of economic stories as reported in the media (such as print, radio, TV, online) and to develop confidence in understanding real-world economic events.
Product: Written Piece
Authorship Statement:
Format:
This is an individual assessment. The article will be available on Canvas at least three weeks before the response is due. Brief answers in your own words to specific questions are required. Further details will be provided on Canvas.
Criteria:
No. Learning Outcome assessed
1
Application of economic theory
2
2
Demonstrate knowledge of macroeconomic theory and their usefulness in analysing economic policy debates and issues
1
3
Accuracy and clarity of arguments presented. Demonstration of correct application of macroeconomic terminology. Appropriate use of Harvard citation style
4
4
Critical analysis of economic policy and issues by using economic theory
2
Generic Skills:
Communication, Problem solving
All - Assessment Task 3:Problem set
Goal:
To demonstrate an understanding of microeconomic principles and international economics and their application.
Product: Written Piece
Authorship Statement:
Format:
Short-answer questions covering topics related to the second part of the course. Further details will be provided on Canvas.
Criteria:
No. Learning Outcome assessed
1
Knowledge of microeconomic and international economics theory
3
2
Accuracy and clarity of expression.
Effective written communication skills
4
3
Application of appropriate economic theory
2
4
Critically analysis of an economic issue/policy
2
Generic Skills:
Communication, Problem solving, Information literacy

Assessment to competency mapping

Programme Delivery Mode Assessment Type Title Competency Teaching Methods
2020 UniSC Business School Standards Undergraduate
All delivery modes Written Piece Macroeconomic analysis PC1.1 Taught, Practiced, Assessed
PC3.1 Taught, Practiced, Assessed
PC4.1 Taught, Practiced, Assessed
PC5.1 Taught, Practiced, Assessed
PC6.2 Taught, Practiced, Assessed
Analysis of media article PC1.1 Taught, Practiced, Assessed
PC3.1 Taught, Practiced, Assessed
PC4.1 Taught, Practiced, Assessed
PC6.2 Taught, Practiced, Assessed
Problem set PC1.1 Taught, Practiced, Assessed
PC3.1 Taught, Practiced, Assessed
PC4.1 Taught, Practiced, Assessed
PC6.2 Taught, Practiced, Assessed
Education for Sustainable Development Goals
All delivery modes Written Piece Macroeconomic analysis 8.1.1 Taught
8.1.2 Taught, Practiced, Assessed
8.1.3 Taught, Practiced, Assessed
8.2.2 Taught
Analysis of media article 8.1.4 Taught, Practiced, Assessed
8.2.1 Taught, Practiced, Assessed
8.2.3 Taught, Practiced, Assessed
Problem set 1.1.3 Taught, Practiced, Assessed
4.1.2 Taught
8.2.1 Taught, Practiced
10.1.2 Taught, Practiced, Assessed
12.2.5 Taught, Practiced, Assessed
12.3.4 Taught, Practiced, Assessed
12.3.5 Taught, Practiced, Assessed

Directed study hours

A 12-unit course will have total of 150 learning hours which will include directed study hours (including online if required), self-directed learning and completion of assessable tasks. Student workload is calculated at 12.5 learning hours per one unit.

Schedule

Period and Topic Activities
n/a
n/a

What resources do I need to undertake this course?

Please note: Course information, including specific information of recommended readings, learning activities, resources, weekly readings, etc. are available on the course Canvas site– Please log in as soon as possible.

Prescribed text(s) or course reader

You need regular access to the resource(s) below. Many texts are available as ebooks through the Library at no additional cost.

Required? Author Year Title Edition Publisher
Recommended R. Glenn Hubbard 0 Essentials of Economics 5th n/a

Specific requirements

Not applicable

How are risks managed in this course?

Health and safety risks for this course have been assessed as low. It is your responsibility to review course material, search online, discuss with lecturers and peers and understand the health and safety risks associated with your specific course of study and to familiarise yourself with the University’s general health and safety principles by reviewing the online induction training for students, and following the instructions of the University staff.

What administrative information is relevant to this course?

Assessment: Academic Integrity

Academic integrity is the ethical standard of university participation. It ensures that students graduate as a result of proving they are competent in their discipline. This is integral in maintaining the value of academic qualifications. Each industry has expectations and standards of the skills and knowledge within that discipline and these are reflected in assessment.

Academic integrity means that you do not engage in any activity that is considered to be academic fraud; including plagiarism, collusion or outsourcing any part of any assessment item to any other person. You are expected to be honest and ethical by completing all work yourself and indicating in your work which ideas and information were developed by you and which were taken from others. You cannot provide your assessment work to others. You are also expected to provide evidence of wide and critical reading, usually by using appropriate academic references.

In order to minimise incidents of academic fraud, this course may require that some of its assessment tasks, when submitted to Canvas, are electronically checked through Turnitin. This software allows for text comparisons to be made between your submitted assessment item and all other work to which Turnitin has access.

Assessment: Additional Requirements

Eligibility for Supplementary Assessment

Your eligibility for supplementary assessment in a course is dependent of the following conditions applying:
(a) The final mark is in the percentage range 47% to 49.4%; and
(b) The course is graded using the Standard Grading scale

Assessment: Submission penalties

Late submissions may be penalised up to and including the following maximum percentage of the assessment task’s identified value, with weekdays and weekends included in the calculation of days late:
(a) One day: deduct 5%;
(b) Two days: deduct 10%;
(c) Three days: deduct 20%;
(d) Four days: deduct 40%;
(e) Five days: deduct 60%;
(f) Six days: deduct 80%;
(g) Seven days: A result of zero is awarded for the assessment task.

The following penalties will apply for a late submission for an online examination:
Less than 15 minutes: No penalty
From 15 minutes to 30 minutes: 20% penalty
More than 30 minutes: 100% penalty

Links to relevant University policy and procedures

For more information on Academic Learning & Teaching categories including:

  • Assessment: Courses and Coursework Programs
  • Review of Assessment and Final Grades
  • Supplementary Assessment
  • Central Examinations
  • Deferred Examinations
  • Student Conduct
  • Students with a Disability

For more information, visit https://www.usc.edu.au/explore/policies-and-procedures#academic-learning-and-teaching

Student Charter

UniSC is committed to excellence in teaching, research and engagement in an environment that is inclusive, inspiring, safe and respectful. The Student Charter sets out what students can expect from the University, and what in turn is expected of students, to achieve these outcomes.

General Enquiries

For course-specific questions, contact your teaching staff or Course Coordinator.  

For other enquiries or to access support, please contact Student Central: