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ECON71-100: Principles of Economics

Description

An introduction to economics for postgraduate students, with a focus on microeconomics. An overview of fundamental topics such as opportunity cost, trade-off, relative scarcity and marginal analysis are explained using contemporary issues including minimum wages, carbon taxes, competition policy and state ownership of monopolies. The underlying structure of macroeconomics is also included to provide a framework for understanding the economy as a whole and the news and policy that affects it.

Subject details

TypePostgraduate
CodeECON71-100
EFTSL0.125
FacultyBond Business School
Semesters offered
  • May 2022 [Standard Offering]
  • January 2023 [Standard Offering]
  • May 2023 [Standard Offering]
Credit10
Study areas
  • Business and Commerce
Subject fees
  • Commencing in 2022: $5,570
  • Commencing in 2023: $5,710

Learning outcomes

1. Explain methods of resource allocation with reference to both efficiency and equity. 2. Examine the fundamental principles of microeconomics and macroeconomics, including utility maximisation and the concept of equilibrium. 3. Explain the role of individuals and businesses in different types of market structures, including perfect competition, monopolistic competition, monopoly, and oligopoly. 4. Critically analyse economic situations using game theoretic techniques and the economics of asymmetric information. 5. Critically evaluate regulatory and political environments' impact on business, making use of the concepts of market failure and public choice theory. 6. Describe the effect of changes in macroeconomic indicators on business activity.

Enrolment requirements

Requisites: ?

Nil

Restrictions: ?

Anti-requisites: ?

  • ECON71-600 Economics for Business

Subject outlines

Subject dates

Standard Offering
Enrolment opens14/11/2021
Semester start17/01/2022
Subject start17/01/2022
Cancellation 1?31/01/2022
Cancellation 2?07/02/2022
Last enrolment30/01/2022
Withdraw – Financial?12/02/2022
Withdraw – Academic?05/03/2022
Teaching census?11/02/2022
Standard Offering
Enrolment opens20/03/2022
Semester start16/05/2022
Subject start16/05/2022
Cancellation 1?30/05/2022
Cancellation 2?06/06/2022
Last enrolment29/05/2022
Withdraw – Financial?11/06/2022
Withdraw – Academic?02/07/2022
Teaching census?10/06/2022