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MAE101 - Economic Principles

Year:

2020 unit information

Important Update:

Classes and seminars in Trimester 3, 2020 will be online.

Last updated: 5 October 2020

Enrolment modes:Trimester 1: Warrnambool, Waterfront (Geelong), Cloud (online)
Trimester 2: Burwood (Melbourne), Cloud (online)
Trimester 3: Cloud (online)
Credit point(s):1
EFTSL value:0.125
Unit Chair:Trimester 1: Elizabeth Manning
Trimester 3: Munirul Nabin
Trimester 2: Elizabeth Manning
Prerequisite:

Nil

Corequisite:Nil
Incompatible with: Nil
Typical study commitment:

Students will on average spend 150 hours over the teaching period undertaking the teaching, learning and assessment activities for this unit.

Scheduled learning activities - campus:

2 x 1 hour classes, 1 x 1 hour seminar per week

Scheduled learning activities - cloud:

Online independent and collaborative learning activities including 3 scheduled online seminars

Content

This unit is about the behaviour of consumers and producers and their interaction in the marketplace. The study of how markets operate is essential to understanding any form of economic behaviour in the global arena. The tools of market analysis developed in the unit provide the foundation for an understanding of issues such as coordinating people's needs with the world's limited resources, corporate pricing strategies, monopoly power, government regulation, the environment, income inequality, the economic relationships between countries and foreign trade.

 

These are the Learning Outcomes (ULO) for this Unit
At the completion of this Unit, successful students can:

Deakin Graduate Learning Outcomes

ULO1

Describe, analyse and apply key microeconomic concepts, including the rational basis upon which consumers and producers make decisions; the operation of markets and determination of market prices, the basis for, and gains from international trade; different types of market structures which exist in a mixed economy such as Australia’s and the efficiency and equity implications arising from these; and the economic costs of externalities such as pollution, along with comparison and contrast of different ways of approaching these issues.

GLO1: Discipline-specific knowledge and capabilities

ULO2

Explain, present and interpret economic tools (including graphs and basic algebra) used in the analysis and application of microeconomic concepts.

GLO1: Discipline-specific knowledge and capabilities
GLO3: Digital literacy

ULO3

Obtain and present information and data related to a real world issue, and critique approaches to the issue in a global context.

GLO1: Discipline-specific knowledge and capabilities
GLO3: Digital literacy
GLO4: Critical thinking
GLO8: Global citizenship

These Unit Learning Outcomes are applicable for all teaching periods throughout the year

Assessment

:
Assessment Description Student output Grading and weighting
(% total mark for unit)
Indicative due week 
Assessment 1: (Individual) Written assignment: includes graphs and/or calculations using digital technologies, finding and presenting information and/or data, explanations, analysis and critique 2,000 words 30% Week 7
Assessment 2: (Individual) Aplia: online quizzes and experiments - 20% Week 3 - 9
Examination 2-hours 50% Exam period

The assessment due weeks provided may change. The Unit Chair will clarify the exact assessment requirements, including the due date, at the start of the teaching period.

Learning Resource

The texts and reading list for the unit can be found on the University Library via the link below: MAE101 Note: Select the relevant trimester reading list. Please note that a future teaching period's reading list may not be available until a month prior to the start of that teaching period so you may wish to use the relevant trimester's prior year reading list as a guide only.

Unit Fee Information

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