Economics Unit Outline

Curtin Business School
School of Economics and Finance

1234 Economics 100
14 Jun 2012
This unit is managed by Dept: School of Economics and Finance; Faculty: Curtin Business School
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CRICOS Provider Code
WA 00301J, NSW 02637B
Name:
Htay-Htay Nyunt
Phone:
+618 9266 3274
Email:
Htay.Nyunt@cbs.curtin.edu.au
Building:
402
Room:
618
Unit Outline
1234 Economics 100
Semester 2, 2012
Unit study package number:
1234
Mode of study:
Internal
Credit Value:
25.0
Pre-requisite units:
Nil
Co-requisite units:
Nil
Anti-requisite units:
Nil
Result type:
Grade/Mark
Approved incidental fees:
Information about approved incidental fees can be obtained from our website. Visit
for details. fees.curtin.edu.au/incidental_fees.cfm
Unit coordinator:
Teaching Staff:
Administrative contact: Name:
Lily MacDonald
Phone:
+618 9266 7756
Email:
L.Macdonald@curtin.edu.au
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14 Jun 2012
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Acknowledgement of Country
We respectfully acknowledge the Indigenous Elders, custodians, their descendants and kin of this land past and
present.
Syllabus
Introduction to economic concepts and principles, Demand and supply analysis, Elasticity ,Economic Efficiency, Market
failure, Introduction to macroeconomics, Unemployment and inflation, Model of aggregate demand and aggregate
supply, Global markets.
Introduction
The ideas of economists . . . are more powerful than is commonly understood. Indeed the world is ruled by little else.
John Maynard Keynes
Welcome to Economics 100 and the Curtin Business School. Economics 100 is an introductory unit in economics. It
covers key principles of both microeconomics and macroeconomics. Microeconomics deals with understanding the beh
avior of consumers, producers and markets. Macroeconomics studies the whole economy aggregate economic activity
and the business cycle. Economics is an interesting, exciting and important subject. Economics will help you understand
the world in which you live, it will enable you to be a more informed participant in the economy and it will give you the
tools to evaluate economic policy decisions of the government. Good luck with your studies this semester and I hope
that economics will provide you a rewarding insight into the world of commerce.
Learning Outcomes
On successful completion of this unit students can: Graduate Attributes addressed
1 Explain the nature of the economic problem
2 Explain the economic way of thinking
3 Apply the economic way of thinking to analyse real world events

4 Analyse and evaluate economic issues using economic theory

5 Demonstrate economic literacy by writing effectively using economic theory

Curtin's Graduate Attributes
Apply discipline knowledge
Thinking skills
(use analytical skills to solve problems)
Information skills
(confidence to investigate new ideas)
Communication skills Technology skills
Learning how to learn
(apply principles learnt to new situations)
(confidence to tackle unfamiliar problems)
International perspective
(value the perspectives of others)
Cultural understanding
(value the perspectives of others)
Professional Skills
(work independently and as a team)
(plan own work)
Find out more about Curtin's Graduate attributes at the Office of Teaching & Learning website: otl.curtin.edu.au
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Learning Activities
You should attend one lecture series per week (2 hours- one hourlecture and one hour seminar) and one tutorial class
(1 hour). The lectures cover the syllabus material. Lecture slides are available on blackboard you should print these
and take them to your lecture session. The lectures will summarise the material covered in the textbook and will focus
on the important concepts and understandings of the course. The test and the exam will be based on the material
covered in the lectures.
The tutorials are the only opportunity you will have for regular group discussion of topics covered in the lectures and
textbook. Tutorials will provide you with the best guide as to your understanding of the course material. This is why it is
essential to attend regularly and be well prepared. This means reading the text, revising your lecture notes and
preparing answers to the tutorial questions and problems. As well you should ask your tutor to explain any parts of the
course that you have not understood or found difficult.
You should expect to devote at least 3-4 hours to reading your text/lecture notes and preparing answers to the tutorial
discussion questions. Each week you will be asked by your tutor to explain an answer to the class, or use the
whiteboard to illustrate an answer. In economics, it is important to communicate effectively in writing using economic
theory and to engage confidently in interpersonal communication in tutorials.
Learning Resources
Essential Texts
You will need to purchase the following textbook(s) in order to complete this unit:
Hubbard R., Garnett A., Lewis P. & OBrien A. 2010. , Pearson Australia, Frenchs Essentials of Economics
Forest, NSW.
Assessment
Assessment Schedule
Task Value % Date Due
Unit Learning
Outcome(s)
Assessed
1 Mid-Semester Test 20 percent Week: 6 1,2,3
2 Assignment 20 percent Week: 8 OR 11 3,4,5
3 Tutorial exercises and quizzes 10 percent Week: 3,6 and 10 3,4,5
4 Final Examination 50 percent Week: 15-16 2,3,4
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1.
2.
3.
4.
Detailed information on assessment tasks
The test will be held in week 6 (20 -24 Aug) and will examine material covered in chapters 15. The test will
th th
consist of 30 multiple choice questions. The test will be conducted in normal lecture time. Please obtain your test
day and time from your lecturer. Times will also be posted on blackboard. Sample test questions are reviewed
each week during lectures. There are also review quizzes and sample questions on blackboard.
Due date: Option1: Friday 5pm September 7th OR Option 2: Friday 5pm September 28th
You are to select a newspaper/magazine/web article for economic analysis. The article must relate to one or
more of the topics (chapters) covered in the lecture program. The article must also have been written
after 1st June, 2012.
You are to apply your economic theory to explain and analyse the newspaper/media article. Refer to the An
section at the end of each chapter in the textbook for examples. Inside Look
The assignment should be approximately 1400-1500 words in length and include well labelled diagrams. A copy
of the article showing date and source is to be included with the analysis. Complete the assignment cover sheet
and submit with your assignment. It is also very important to discuss the choice of topic/article with your tutor well
before the submission date.
I would suggest that you present your assignment as a report include an introduction, economic
concepts/theories to be applied, analysis, conclusion and references. Visit the blackboard site for notes on
preparing the assignment. The CBS Communication Skills Centre conducts workshops on essay writing and
referencing and you can always check with your tutor about planning and preparing your assignment. The
assignment is worth 20% 14 marks will be allocated for content and analysis (appropriate choice of article,
relevant concepts and depth of coverage, sound application of theory, logical structure) and 6 marks will be
allocated for professional skills (presentation, correct written expression, correct grammar and spelling,
referencing).
You have a choice of submission dates: September 7th for articles relating to chapters 1 5 and 11; or
September 28th for articles relating to chapters 12-17 and 19.
Penalties will apply for late assignments.
An important part of assignment writing is to correctly reference the sources of information that you have used.
Correctly referencing your work will help to avoid Plagiarism means presenting the work or property plagiarism.
of another person as ones own, without appropriate acknowledgement or referencing (the copying of other
peoples work and/or ideas). Plagiarism is a form of cheating. The penalty for plagiarism is a mark of zero and
possible expulsion from the unit and/or course of study.
Three class quizzes will be (weeks 3, 5, and 10). conducted in the tutorial class
Quiz 1 will be based on Chapters 1, 2 and 3, quiz 2 will be based on chapter 5, and quiz 3 will be based on
chapters 12 and 14.
Students can select their best two results: two quizzes will be worth 5% each.
The exam will consist of a multiple choice section and a written section. The exact format will be provided
towards the end of the semester. The exam will focus more on the topics covered after the test (topics 5 - 10).
Previous exam papers are available on the website for Economics 100.
Fair assessment through moderation

Moderation describes a quality assurance process to ensure that assessments are appropriate to the learning
outcomes, and that student work is evaluated consistently by assessors. Minimum standards for the moderation of
assessment are described in the Assessment Manual, available from
policies.curtin.edu.au/policies/teachingandlearning.cfm
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1.
2.
3.
4.
Late penalties
Late Assessment Policy
This ensures that the requirements for submission of assignments and other work to be assessed are fair, transparent,
equitable, and that penalties are consistently applied.
All assessments which students are required to submit will have a due date and time specified on the Unit
Outline.
Accepting late submission of assignments or other work will be determined by the unit coordinator or Head of
School and will be specified on the Unit Outline.
If late submission of assignments or other work is not accepted, students will receive a penalty of 100% after the
due date and time ie a zero mark for the late assessment.
If late submission of assignments or other work is accepted, students will be penalised by ten percent per
calendar day for a late assessment submission (eg a mark equivalent to 10% of the total allocated for the
assessment will be deducted from the marked value for every day that the assessment is late). This means that
an assignment worth 20 will have two marks deducted per calendar day late. Hence if it was handed in three
calendar days late and marked as 12/20, the student would receive 6/20. An assessment more than seven
. Work submitted after this time (due date plus seven days) may calendar days overdue will not be marked
result in a Fail - Incomplete (F-IN) grade being awarded for the unit.
Pass requirements
To pass this unit you must achieve a result of 50%. There is no requirement to pass any individual component of
assessment.
Referencing style
Students should use the Chicago referencing style when preparing assignments.
More information can be found on this style from the Library web site: . library.curtin.edu.au
Plagiarism
Plagiarism occurs when work or property of another person is presented as one's own, without appropriate
acknowledgement or referencing. Plagiarism is a serious offence. For more information refer to
. academicintegrity.curtin.edu.au
Plagiarism Monitoring
Work submitted may be subjected to a plagiarism detection process, which may include the use of systems such as
'Turnitin'. For further information, see . academicintegrity.curtin.edu.au/students/turnitin.cfm
Additional information
Enrolment:
It is your responsibility to ensure that your enrolment is correct - you can check your enrolment through the eStudent
option on OASIS, where you can also print an Enrolment Advice.
Supplementary/Deferred Exams:
Supplementary and deferred examinations will be held at a date to be advised. Notification to students will be made
after the Board of Examiners meeting via the Official Communications Channel (OCC) in OASIS. It is the student's
responsibility to check their OASIS account on a weekly basis for official Curtin correspondence. If your results show
that you have been awarded a supplementary or deferred exam you should immediately check your OASIS email for
details.
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Student Rights and Responsibilities
It is the responsibility of every student to be aware of all relevant legislation, policies and procedures relating to their
rights and responsibilities as a student. These include:
the Student Charter
the University's Guiding Ethical Principles
the University's policy and statements on plagiarism and academic integrity
copyright principles and responsibilities
the University's policies on appropriate use of software and computer facilities
Information on all these things is available through the University's "Student Rights and Responsibilities website at:
. students.curtin.edu.au/rights
Disability
Students with a disability or medical condition (e.g. mental health condition, chronic illness, physical or sensory
disability, learning disability) are encouraged to seek advice from Disability Services . A www.disability.curtin.edu.au
Disability Advisor will work with you and liaise with staff to identify strategies to assist you to meet unit (including
fieldwork education) and course requirements, where possible. It is important to note that the staff of the university may
not be able to meet your needs if they are not informed of your individual circumstances.
Recent unit changes
We welcome feedback as one way to keep improving this unit. Students are encouraged to provide unit feedback
through , Curtin's online student feedback system (see ). Recent changes to this VALUate e evaluate.curtin.edu.au/info/
unit include:
We welcome feedback as one way to keep improving this unit. Students are encouraged to give unit feedback through e
, Curtins online student feedback system (see ). Recent changes to VALUate http://evaluate.curtin.edu.au/info/index.cfm
this unit include:
1. Improving feedback to students
2. Improving resources on blackboard
See to find out when you can this unit. evaluate.curtin.edu.au VALUate e
Program calendar
Week Begin Date Lecture/

Seminar
Pre-readings Tutorial/Other Assessment
Due
Orientation
1. 16 July 1. What is
Economics?
Chapters 1, 2
Chapters 1 and 2 Please referred to
Tutorial Guide
2. 23 July 2. Demand &

Supply Chapter 3
Chapter 3 Please referred to
Tutorial Guide
3. 30 July 3. Elasticity
Chapter 4
Tutorial Guide
Class Quiz 1
(Conducted in
Tutorial Time)
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4. 6 Aug 4. Market Efficiency
Chapter 5
Tutorial Guide
5. 13 Aug 5. Market Failure

Chapter 11
Tutorial Guide
6. 20 Aug Mid semester test

conducted in
lecture time
Quiz 2 and
assignment help
conducted in
tutorial classes
this week

Class Quiz 2
(Conducted in
Tutorial Time)
Mid semester
test 20 Aug-24
th
Aug
th
See Blackboard
for day & time of
test
7. 27 Aug Tuition Free Week
8. 3 Sept 6.
Macroeconomics:
GDP,
Unemployment &
Inflation
Chapters 12, 14
Chapter 12 and 14 Please referred to
Tutorial Guide
Assignment
Option 1
Due: 7th Sept (by
5pm)
Hand in your
assignment via
BB
9. 10 Sept 7. Aggregate
Demand/Aggregate
Supply
Chapter 13

Tutorial Guide
10. 17 Sept 8. Monetary Policy

Chapter 16
Tutorial Guide
Class Quiz 3
Conducted in
Tutorial Time)
11. 24 Sept 9. Fiscal Policy
Chapter 17
Tutorial Guide
Assignment
Option 2
Due:28 Sept (by
th
5pm)
Hand in your
assignment via B
B
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12. 1 Oct 10. International
Economics Chapter
19
Tutorial Guide
13. 8 Oct Revision

14. Study Week
15. Examinations
16. Examinations

Economics Unit Outline

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Economics Unit Outline

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Curtin Business School

School of Economics and Finance

Fair assessment through moderation

Week Begin Date Lecture/

2. 23 July 2. Demand &

5. 13 Aug 5. Market Failure

6. 20 Aug Mid semester test

Chapter 13 Please referred to

10. 17 Sept 8. Monetary Policy

13. 8 Oct Revision

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