Economics

In this unit you will explore:

Microeconomics: scarcity, economic choice, economic systems, economic ideology, demand and supply analysis, consumer behaviour and elasticity, costs of production and profit maximisation, and perfect competition and monopoly.

Macroeconomics: aggregate demand and aggregate supply, Keynesian versus Neoclassical approaches, the money market and monetary policy, the government budget deficit and fiscal policy, the foreign exchange market and exchange rate policy, unemployment and inflation, and current and capital accounts.

Simulation or virtual practice - This unit allows you to engage in guided, immersive experiences to develop relevant skills, knowledge and attitudes through simulation or virtual practice.

Active learning - This unit engages you in actively applying your knowledge, skills and attributes in interactive, collaborative and reflective activities.

Case-based teaching - This unit includes case-based teaching, where you apply your knowledge and engage in analytical and reflective thinking to solve complex contextual scenarios. Activities are often designed so that there is not one clear answer, but you need to work together to examine, analyse and make decisions to resolve the situation.

Minimum total expected workload to achieve the learning outcomes for this unit is 144 hours per semester typically comprising a mixture of scheduled learning activities and independent study. Independent study may include associated readings, assessment and preparation for scheduled activities. You are expected to complete all pre-class activities prior to your scheduled class, and post-class activities should be completed after your scheduled class. Learning activities may include a combination of teacher directed, peer directed and online engagement activities.