2021 unit information
Students will on average spend 150 hours over the teaching period undertaking the teaching, learning and assessment activities for this unit.
2 x 1 hour classes, 1 x 1 hour seminar per week
Online independent and collaborative learning activities including 3 scheduled online seminars
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 UnitAt the completion of this Unit, successful students can:
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.
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 capabilitiesGLO3: Digital literacy
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 capabilitiesGLO3: Digital literacyGLO4: Critical thinkingGLO8: Global citizenship
These Unit Learning Outcomes are applicable for all teaching periods throughout the year
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.
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.
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