ECON 7200 - Economic Principles (M)

North Terrace Campus - Trimester 1 - 2024

This is an introductory course in economics, which introduces students to the principles, concepts, data and analytical frameworks that economists use to understand the world around us. Students develop an understanding of how the economy works and how individuals, firms and governments make decisions and interact with one another in markets and other environments. The course also focuses on the ability of students to communicate about real-world issues and public policy debates through the lens of economics.

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Course Details

Course Code	ECON 7200
Course	Economic Principles (M)
Coordinating Unit	Economics
Term	Trimester 1
Level	Postgraduate Coursework
Location/s	North Terrace Campus
Units	3
Contact	Up to 3 hours per week, more if offered intensively
Available for Study Abroad and Exchange	Y
Incompatible	ECON 7222, ECON 7200AUACM, ECON 7200BUACM
Assessment	Typically assignments, case study analyses, group or individual projects, exam

Course Staff

Course Coordinator: Dr Mark Dodd

Course Timetable

The full timetable of all activities for this course can be accessed from Course Planner.

Course Learning Outcomes

On successful completion of this course, students will be able to:

Demonstrate a solid understanding of the core concepts and tools of economics.
Relate basic economic theory and principles to current economic issues and evaluate related public economic policies.
Apply economic principles and reasoning to solving business problems.
Interpret charts, graphs, and tables and use the information to make informed judgments.
Communicate their knowledge and understanding of economic issues using written, verbal and visual expression.
Critically reflect on the broader social consequences of economic decision making.

University Graduate Attributes

This course will provide students with an opportunity to develop the Graduate Attribute(s) specified below:

University Graduate Attribute	Course Learning Outcome(s)
Attribute 1: Deep discipline knowledge and intellectual breadth Graduates have comprehensive knowledge and understanding of their subject area, the ability to engage with different traditions of thought, and the ability to apply their knowledge in practice including in multi-disciplinary or multi-professional contexts.	1,2,3
Attribute 2: Creative and critical thinking, and problem solving Graduates are effective problems-solvers, able to apply critical, creative and evidence-based thinking to conceive innovative responses to future challenges.	2,3,4
Attribute 3: Teamwork and communication skills Graduates convey ideas and information effectively to a range of audiences for a variety of purposes and contribute in a positive and collaborative manner to achieving common goals.	5
Attribute 4: Professionalism and leadership readiness Graduates engage in professional behaviour and have the potential to be entrepreneurial and take leadership roles in their chosen occupations or careers and communities.	5
Attribute 5: Intercultural and ethical competency Graduates are responsible and effective global citizens whose personal values and practices are consistent with their roles as responsible members of society.	2,3,6
Attribute 6: Australian Aboriginal and Torres Strait Islander cultural competency Graduates have an understanding of, and respect for, Australian Aboriginal and Torres Strait Islander values, culture and knowledge.	2,6
Attribute 7: Digital capabilities Graduates are well prepared for living, learning and working in a digital society.	4
Attribute 8: Self-awareness and emotional intelligence Graduates are self-aware and reflective; they are flexible and resilient and have the capacity to accept and give constructive feedback; they act with integrity and take responsibility for their actions.	2,3

Learning Resources

Required Resources

Hubbard, R.G., O’Brien, A.P, Garnett, A.M., and Lewis, P. 'Essentials of Economics' 5th Edition, Pearson.
Paperback edition ISBN: 9780655702870
Electronic versions are also available from the publisher and via the University library.

Online Learning

This course makes use of MyUni for the posting of course materials, assessment tasks, and important announcements. It is expected that all students will regularly check the MyUni course website, and regularly check their university email accounts.

Learning & Teaching Modes

Course content will be delivered through classes, the assigned textbook, and other materials available online. Students are expected to have studied all materials as directed on MyUni prior to attending weekly classes.

Weekly classes will include set exercises, group discussions, and other interactive content. Students are expected to attend all sessions in-person and actively participate. Online options may be provided for offshore/interstate students who require this option, as detailed on MyUni.

Workload

The information below is provided as a guide to assist students in engaging appropriately with the course requirements.

The University expects full-time students to devote a total of 48 hours per week to their studies. This translates to 12 hours per week for this course.

Learning Activities Summary

Teaching & Learning Activities	Related Learning Outcomes
Lectures	1,2,3,4,5,6

Note: This schedule is subject to change.

Week	Topic	Textbook Reading
1	Introduction / Choices and Trade-offs	Chapters 1 & 2
2	Demand and Supply	Chapter 3
3	Elasticity / Economic Efficiency	Chapters 4 & 5
4	Government Intervention in the Market	Chapters 5 & 11
5	Firms, Production and Costs	Chapter 6
6	Perfect Competition and Monopoly	Chapters 7 & 8
7	Monopolistic Competition and Oligopoly	Chapter 9
8	GDP, Unemployment and Inflation	Chapters 13 & 14
9	Aggregate Demand and Aggregate Supply	Chapter 15
10	Money and Monetary Policy	Chapters 16 & 17
11	Fiscal Policy	Chapter 18
12	The Exchange Rate and International Trade	Chapters 19 & 20

The University's policy on Assessment for Coursework Programs is based on the following four principles:

Assessment must encourage and reinforce learning.
Assessment must enable robust and fair judgements about student performance.
Assessment practices must be fair and equitable to students and give them the opportunity to demonstrate what they have learned.
Assessment must maintain academic standards.

Assessment Summary

Assessment Task	Due Date / Week	Weighting	Learning Outcomes
Assignments	Week 5, Week 9	30%	1,2,3,4,5,6
Weekly Online Quizzes	Weekly	10%	1,2,3,4,6
Final Exam	Exam Period	60%	1,2,3,4,5,6
Total		100%

Assessment Detail

Assignments 30%
Written assignments will be set which may contain a variety of formats including written responses and other activities. Details regarding the content, format, requirements and due dates for each assignment will be provided on MyUni, please refer there for further details.

Weekly Online Quizzes 10%
Multiple choice quizzes will be conducted online each week. See MyUni for further information regarding format,content, requirements and deadlines.

Final exam 60%
This exam may assess all topics covered in the course. Details regarding the structure will be posted on MyUni.

Submission

No information currently available.

Course Grading

Grades for your performance in this course will be awarded in accordance with the following scheme:

M10 (Coursework Mark Scheme)
Grade	Mark	Description
FNS		Fail No Submission
F	1-49	Fail
P	50-64	Pass
C	65-74	Credit
D	75-84	Distinction
HD	85-100	High Distinction
CN		Continuing
NFE		No Formal Examination
RP		Result Pending

Further details of the grades/results can be obtained from Examinations.

Grade Descriptors are available which provide a general guide to the standard of work that is expected at each grade level. More information at Assessment for Coursework Programs.

Final results for this course will be made available through Access Adelaide.

Student Feedback

The University places a high priority on approaches to learning and teaching that enhance the student experience. Feedback is sought from students in a variety of ways including on-going engagement with staff, the use of online discussion boards and the use of Student Experience of Learning and Teaching (SELT) surveys as well as GOS surveys and Program reviews.

SELTs are an important source of information to inform individual teaching practice, decisions about teaching duties, and course and program curriculum design. They enable the University to assess how effectively its learning environments and teaching practices facilitate student engagement and learning outcomes. Under the current SELT Policy (http://www.adelaide.edu.au/policies/101/) course SELTs are mandated and must be conducted at the conclusion of each term/semester/trimester for every course offering. Feedback on issues raised through course SELT surveys is made available to enrolled students through various resources (e.g. MyUni). In addition aggregated course SELT data is available.
Student Support
Policies & Guidelines
This section contains links to relevant assessment-related policies and guidelines - all university policies.
Fraud Awareness

Students are reminded that in order to maintain the academic integrity of all programs and courses, the university has a zero-tolerance approach to students offering money or significant value goods or services to any staff member who is involved in their teaching or assessment. Students offering lecturers or tutors or professional staff anything more than a small token of appreciation is totally unacceptable, in any circumstances. Staff members are obliged to report all such incidents to their supervisor/manager, who will refer them for action under the university's student’s disciplinary procedures.

The University of Adelaide is committed to regular reviews of the courses and programs it offers to students. The University of Adelaide therefore reserves the right to discontinue or vary programs and courses without notice. Please read the important information contained in the disclaimer.

Authorised by:	Deputy Vice-Chancellor and Vice-President (Academic)
Maintained by:	Course Outlines Administrator