Course Outline

BUS702 Economics for Managers

Course Coordinator:Hammad Siddiqi (hsiddiqu@usc.edu.au) School:School of Business and Creative Industries

2023Session 6

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.

Please go to usc.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 course aims to provide you with a systematic overview of economics as a foundation study in business, covering microeconomics, macroeconomics and introducing international economics. Business managers need to be aware of the economic environment in which they work, and the impact this environment has on their decision-making.

How will this course be delivered?

Activity Hours Beginning Week Frequency
Blended learning
Learning materials – Interactive online learning activities. 3.2hrs Week 1 6 times
Tutorial/Workshop 1 – Scheduled face to face workshops. 3hrs Week 1 6 times
Tutorial/Workshop 2 – Additional scheduled face to face workshops. 1hr Week 1 2 times
Online
Learning materials – Interactive online learning activities. 3.2hrs Week 1 6 times
Tutorial/Workshop 1 – Scheduled online workshops (Recorded). 3hrs Week 1 6 times
Tutorial/Workshop 2 – Additional scheduled online workshops (Recorded). 1hr Week 1 2 times

Course Topics

  • Is Capitalism in Crisis?
  • Why is Economic Growth Important?
  • Is the market system best? Market structures, including perfect competition, monopolistic competition, oligopoly and monopoly
  • What has economics to say about pricing? Markets, demands, supply and price including elasticity
  • Why should decisions be made at the margin?
  • How does the market fail and what can be done about it? Market failure and government intervention
  • Is macroeconomics as simple as microeconomics? Macroeconomic measures including GDP, inflation and employment
  • What are the risks associated with trade? Balance of payments, exchange rates, and financial markets
  • Why does money matter?
  • Can fiscal policy improve macroeconomic outcomes? Fiscal and monetary policy
  • Is globalisation a force for good?- International Trade and Globalisation
  • Is globalisation a force for good?- Comparative Advantage

What level is this course?

700 Level (Specialised)

Demonstrating a specialised body of knowledge and set of skills for professional practice or further learning. Advanced application of knowledge and skills in unfamiliar contexts.

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 * Association to Advance Collegiate Schools of Business
1 Apply microeconomic principles to business decisions. Knowledgeable
Empowered
PC1, PC3, PC4
2 Apply macroeconomic principles to evaluate economic policy. Knowledgeable
Creative and critical thinker
Empowered
PC1, PC3, PC4
3 Analyse and evaluate an economic argument and create a synthesis of ideas and evidence. Creative and critical thinker
Empowered
Engaged
PC1, PC3, PC4

* Competencies by Professional Body

CODE COMPETENCY
Association to Advance Collegiate Schools of Business
PC1 Communication
PC3 Creative and Critical Thinking
PC4 Community Consciousness

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

Enrolled in any PGRD Program or (enrolled in Program SC410, SC411, SC425, SC404 or SC405) and 280 units completed towards either of these Programs)

Co-requisites

Not applicable

Anti-requisites

MBA708 or EMB758

Specific assumed prior knowledge and skills (where applicable)

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

Application of economic concepts to real-world problems will start in Week 1 with feedback provided orally in class.

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 Quiz/zes Individual 50%
2 hours
Week 4 In Class
All 2 Case Study Individual 50%
2,000 words (excluding graphs and bibliography)
Week 8 Online Assignment Submission with plagiarism check
All - Assessment Task 1:Quiz
Goal:
This task will test your understanding of basic economic principles covered in the first three
weeks of classes.
Product: Quiz/zes
Format:
Problems/Questions requiring short comprehensive answers that apply the concepts covered in the first three weeks of classes. This is an invigilated assessment. On-campus students will need to take this quiz in-class, and online students will take this quiz online during their Week 4 workshops. Further details on the assessment are provided in Canvas.
Criteria:
No. Learning Outcome assessed
1
Application of microeconomic principles to business decisions
1
2
Application of macroeconomic principles to judge economic policy
2
All - Assessment Task 2:Case Study
Goal:
The topic will require you to apply your knowledge of the economic theory you have learned in the context of a contemporary macroeconomic puzzle. In doing this, you will develop skills that will allow you to understand current economic events.
Product: Case Study
Format:
This is an individual assessment. You will be given a description of a macroeconomic puzzle and will be asked to answer a number of questions.

Further details on the task and the marking rubric are provided in the assessment area in Canvas.
Criteria:
No. Learning Outcome assessed
1
Analysis, evaluation and synthesis of an economic argument
3
2
Application of macroeconomic theory to contemporary economic policy
2
3
Analysis of how economic context matters in business decisions
1
4
Application of
sustainability frameworks,
theories, concepts
and responsibilities in a
business context.
2
5
Recognition of diverse
stakeholder interests in a
business decision making
context.
1
6
Knowledge of relevant legislation and principles associated with social responsibility, ethical conduct and/or sustainable practice in a business context
3

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
Module 1: Is Capitalism in Crisis?
Online Learning materials and tutorial/workshop
Module 2: Why is Economic Growth Important?
Online Learning materials and tutorial/workshop
Module 3: Is the market system best? Market structures, including perfect competition, monopolistic competition, oligopoly and monopoly
Online Learning materials and tutorial/workshop
Module 4: What has economics to say about pricing? Markets, demands, supply and price including elasticity
Online Learning materials and tutorial/workshop
Module 5: Why should decisions be made at the margin?
Online Learning materials and tutorial/workshop
Module 6: How does the market fail and what can be done about it? Market failure and government intervention
Online Learning materials and tutorial/workshop
Module 7: Is macroeconomics as simple as microeconomics? Macroeconomic measures including GDP, inflation and employment
Online Learning materials and tutorial/workshop
Module 8: What are the risks associated with trade? Balance of payments, exchange rates, and financial markets
Online Learning materials and tutorial/workshop
Module 9: Why does money matter?
Online Learning materials and tutorial/workshop
Module 10: Can fiscal policy improve macroeconomic outcomes? Fiscal and monetary policy
Online Learning materials and tutorial/workshop
Module 11: Is globalisation a force for good?- International Trade and Globalization
Online Learning materials and tutorial/workshop
Module 12: Is globalisation a force for good?- Comparative Advantage
Online Learning materials and tutorial/workshop

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

There are no required/recommended resources for this course.

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:

The final mark is in the percentage range 47% to 49.4%
The course is graded using the Standard Grading scale
You have not failed an assessment task in the course due to academic misconduct

Assessment: Submission penalties

Late submission of assessment tasks may be penalised at the following maximum rate: 
- 5% (of the assessment task's identified value) per day for the first two days from the date identified as the due date for the assessment task. 
- 10% (of the assessment task's identified value) for the third day - 20% (of the assessment task's identified value) for the fourth day and subsequent days up to and including seven days from the date identified as the due date for the assessment task. 
- A result of zero is awarded for an assessment task submitted after seven days from the date identified as the due date for the assessment task. Weekdays and weekends are included in the calculation of days late. To request an extension you must contact your course coordinator to negotiate an outcome.

SafeUniSC

UniSC is committed to a culture of respect and providing a safe and supportive environment for all members of our community. For immediate assistance on campus contact SafeUniSC by phone: 07 5430 1168 or using the SafeZone app. For general enquires contact the SafeUniSC team by phone 07 5456 3864 or email safe@usc.edu.au.

The SafeUniSC Specialist Service is a Student Wellbeing service that provides free and confidential support to students who may have experienced or observed behaviour that could cause fear, offence or trauma. To contact the service call 07 5430 1226 or email studentwellbeing@usc.edu.au.

Study help

For help with course-specific advice, for example what information to include in your assessment, you should first contact your tutor, then your course coordinator, if needed.

If you require additional assistance, the Learning Advisers are trained professionals who are ready to help you develop a wide range of academic skills. Visit the Learning Advisers web page for more information, or contact Student Central for further assistance: +61 7 5430 2890 or studentcentral@usc.edu.au.

Wellbeing Services

Student Wellbeing provide free and confidential counselling on a wide range of personal, academic, social and psychological matters, to foster positive mental health and wellbeing for your academic success.

To book a confidential appointment go to Student Hub, email studentwellbeing@usc.edu.au or call 07 5430 1226.

AccessAbility Services

Ability Advisers ensure equal access to all aspects of university life. If your studies are affected by a disability, learning disorder mental health issue, injury or illness, or you are a primary carer for someone with a disability or who is considered frail and aged, AccessAbility Services can provide access to appropriate reasonable adjustments and practical advice about the support and facilities available to you throughout the University.

To book a confidential appointment go to Student Hub, email AccessAbility@usc.edu.au or call 07 5430 2890.

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

  • In person:
    • UniSC Sunshine Coast - Student Central, Ground Floor, Building C, 90 Sippy Downs Drive, Sippy Downs
    • UniSC Moreton Bay - Service Centre, Ground Floor, Foundation Building, Gympie Road, Petrie
    • UniSC SouthBank - Student Central, Building A4 (SW1), 52 Merivale Street, South Brisbane
    • UniSC Gympie - Student Central, 71 Cartwright Road, Gympie
    • UniSC Fraser Coast - Student Central, Student Central, Building A, 161 Old Maryborough Rd, Hervey Bay
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  • Tel:+61 7 5430 2890
  • Email:studentcentral@usc.edu.au