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MAE101 - Economic Principles

Year:

2022 unit information

Enrolment modes:Trimester 1: Warrnambool, Waterfront (Geelong), Online
Trimester 2: Burwood (Melbourne), Online
Trimester 3: Online
Credit point(s):1
EFTSL value:0.125
Unit Chair:Trimester 1: Munirul Nabin
Trimester 2: Aaron Nicholas
Trimester 3: Munirul Nabin
Prerequisite:

Nil

Corequisite:Nil
Incompatible with: MAEM101
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:

1 x 1 hour class, 1 x 2 hour seminar per week; independent online learning activities via the unit site 

Scheduled learning activities - cloud:

1 hour class recording (or equivalent instructional videos), 1 x 2 hour online seminar per week; independent online learning activities via the unit site 

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.

ULO 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

GLO1: Discipline-specific knowledge and capabilities

ULO2

Describe policy approaches applied to the operation of markets when they fail to provide socially optimal outcomes

GLO1: Discipline-specific knowledge and capabilities

ULO3

Use appropriate economic tools (including graphs and basic algebra) to interpret, analyse and explain microeconomic concepts

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

ULO4

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) Problem Based Written Assignment 2000 words 30% Week 7
Assessment 2: (Individual) Online quizzes - 20% Weeks 3,5,6,8,9,10

Online Examination (Open Book)

  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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