You are viewing this page as a domestic student.
Change to International

You are a domestic student if you are an Australian citizen, a New Zealand citizen or the holder of an Australian permanent visa.

You are an international student whether you are within or outside Australia and you do not meet the domestic student criteria.

Coronavirus (COVID-19): advice and support for the Bond community. Read more

ECON71-600: Economics for Business May 2017 [Standard]

General information

ECON71-600 offers an introduction to microeconomics. Microeconomics is the study of individual decision making units; consumers and firms. We study how these economic agents interact in a market economy. As a subject intended for business students it seeks to supplement the presentation of the necessary theory with an emphasis on practical application of that theory to real world problems. We therefore consider a wide range of policy oriented illustrations.


Academic unit:Bond Business School
Subject code:ECON71-600
Subject title:Economics for Business
Subject level:Postgraduate
Semester/Year:May 2017
Credit points:10

Delivery & attendance

Delivery mode:


Workload items:
  • Lecture: x12 (Total hours: 24) - Weekly Lecture
  • Tutorial: x11 (Total hours: 22) - Weekly Tutorial
Attendance and learning activities: It is very important that students attend both the weekly lecture and tutorial. While there are no formal attendance requirements, missing classes would seriously disadvantage students.


Prescribed resources:
  • Joshua Gans,Martin Byford,Stephen King,N. Gregory Mankiw (2015). Principles of Microeconomics. 6th, Melbourne: Cengage
After enrolment, students can check the Books and Tools area in iLearn for the full Resource List.
[email protected] & Email:[email protected] is the online learning environment at Bond University and is used to provide access to subject materials, lecture recordings and detailed subject information regarding the subject curriculum, assessment and timing. Both iLearn and the Student Email facility are used to provide important subject notifications. Additionally, official correspondence from the University will be forwarded to students’ Bond email account and must be monitored by the student.

To access these services, log on to the Student Portal from the Bond University website as

Enrolment requirements

Requisites: ?


Restrictions: ?


Assurance of learning

Assurance of Learning means that universities take responsibility for creating, monitoring and updating curriculum, teaching and assessment so that students graduate with the knowledge, skills and attributes they need for employability and/or further study.

At Bond University, we carefully develop subject and program outcomes to ensure that student learning in each subject contributes to the whole student experience. Students are encouraged to carefully read and consider subject and program outcomes as combined elements.

Program Learning Outcomes (PLOs)

Program Learning Outcomes provide a broad and measurable set of standards that incorporate a range of knowledge and skills that will be achieved on completion of the program. If you are undertaking this subject as part of a degree program, you should refer to the relevant degree program outcomes and graduate attributes as they relate to this subject.

Find your program

Subject Learning Outcomes (SLOs)

On successful completion of this subject the learner will be able to:
  1. As a reward for your hard work, mastering this course will equip you with a powerful toolbox for use in analysing relevant issues of the day.
  2. You will be able to apply this toolbox to your personal affairs, politics, society, and global issues.
  3. In addition to helping you find solutions to problems and making sense of reality, the methods taught in this course will lead you to ask deeper questions. In turn you will gain a better understanding of the world in which you live. .


Assessment details

TypeTask%Timing*Outcomes assessed
Skills Assignment Two homeworks 10% Week 1 1, 2, 3.
Paper-based Examination (Closed) Mid-semester Examination 30% Mid-Semester Examination Period 1, 2, 3.
Paper-based Examination (Closed) Final Examination 60% Final Examination Period 1, 2, 3.
  • * Assessment timing is indicative of the week that the assessment is due or begins (where conducted over multiple weeks), and is based on the standard University academic calendar
  • C = Students must reach a level of competency to successfully complete this assessment.

Assessment criteria

High Distinction 85-100 Outstanding or exemplary performance in the following areas: interpretative ability; intellectual initiative in response to questions; mastery of the skills required by the subject, general levels of knowledge and analytic ability or clear thinking.
Distinction 75-84 Usually awarded to students whose performance goes well beyond the minimum requirements set for tasks required in assessment, and who perform well in most of the above areas.
Credit 65-74 Usually awarded to students whose performance is considered to go beyond the minimum requirements for work set for assessment. Assessable work is typically characterised by a strong performance in some of the capacities listed above.
Pass 50-64 Usually awarded to students whose performance meets the requirements set for work provided for assessment.
Fail 0-49 Usually awarded to students whose performance is not considered to meet the minimum requirements set for particular tasks. The fail grade may be a result of insufficient preparation, of inattention to assignment guidelines or lack of academic ability. A frequent cause of failure is lack of attention to subject or assignment guidelines.

Quality assurance

For the purposes of quality assurance, Bond University conducts an evaluation process to measure and document student assessment as evidence of the extent to which program and subject learning outcomes are achieved. Some examples of student work will be retained for potential research and quality auditing purposes only. Any student work used will be treated confidentially and no student grades will be affected.

Study information

Submission procedures

Students must check the [email protected] subject site for detailed assessment information and submission procedures.

Policy on late submission and extensions

Late submissions will normally not be accepted. Homeworks will be collected at the start of the lecture in the specified week and/or as prescribed. Please make sure your work is stapled together.

Policy on plagiarism

University’s Academic Integrity Policy defines plagiarism as the act of misrepresenting as one’s own original work: another’s ideas, interpretations, words, or creative works; and/or one’s own previous ideas, interpretations, words, or creative work without acknowledging that it was used previously (i.e., self-plagiarism). The University considers the act of plagiarising to be a breach of the Student Conduct Code and, therefore, subject to the Discipline Regulations which provide for a range of penalties including the reduction of marks or grades, fines and suspension from the University.

Bond University utilises Originality Reporting software to inform academic integrity.

Feedback on assessment

Feedback on assessment will be provided to students within two weeks of the assessment submission due date, as per the Assessment Policy.

Disability support

If you have a disability, illness, injury or health condition that impacts your capacity to complete studies, exams or assessment tasks, it is important you let us know your special requirements, early in the semester. Students will need to make an application for support and submit it with recent, comprehensive documentation at an appointment with a Disability Officer. Students with a disability are encouraged to contact the Disability Office at the earliest possible time, to meet staff and learn about the services available to meet your specific needs. Please note that late notification or failure to disclose your disability can be to your disadvantage as the University cannot guarantee support under such circumstances.

Additional subject information

Please note that the final exam is comprehensive. That is, all material taught over the whole semester is examinable. Please note that with the mid-semester exam all material taught up until that point in the subject is examinable (except for the material taught in the Week 5 lecture). Mid-Semester "Deferred" Exams: If you have an approved application for a deferred mid-semester exam, your final exam grade will be re-weighted from 60% to 90%. No deferred mid-semester exam is offered. Note that the exams are CLOSED BOOK. You may, however, bring in calculators and non-electronic dictionaries. Note that calculators must not be capable of recording text. Please plan to be here throughout the exam period. If you have plans to be away during some part of the exam period, you had better change them ASAP.

Subject curriculum

Chapters 1, 2 and 3, No Tutorial

1, 2, 3.

Chapters 6 and 7

1, 2, 3.

Chapters 8 and 9, 1st Homework Due

1, 2, 3.

Chapters 10 and 11

1, 2, 3.

No Lecture and No Tutorial

1, 2, 3.

Chapter 22

1, 2, 3.

Chapters 13 and 19

1, 2, 3.

Chapter 14

1, 2, 3.

Chapters 15 and 17

1, 2, 3.

Chapters 16 and 18, 2nd Homework Due

1, 2, 3.

There will be a revision lecture in Week 12. Also, there will be a tutorial as usual.

1, 2, 3.
Approved on: Mar 21, 2017. Edition: 2.1