MAE101 - Economic Principles
| Year: | 2023 unit information |
|---|---|
| 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 |
| Prerequisite: | Nil |
| Corequisite: | Nil |
| Incompatible with: | MAEM101 |
| 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 (online) | 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 introduces foundational concepts in economics that are essential to understanding the economic environment. The tools of analysis developed in the unit provide the foundation for understanding issues such as coordinating people's needs with the world's limited resources, the operation of competitive markets and monopolies, as well as understanding the role and consequences of government policies such as taxes. The unit also introduces students to key macroeconomic indicators such as economic growth, unemployment, inflation and the international sector. It provides insights for evaluating the working and the impacts of monetary and fiscal policy.Unit Fee Information
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