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Major (2017)

Information on this page, including unit offerings, is from the 2017 academic year.

Economics (BBus)

  • B1318BACHELOR OF BUSINESS

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Title Economics (BBus)
Course Code B1318
Study Level Bachelor (Undergraduate)
School School of Business and Governance
Academic Contacts

Academic Chair: Mr John Murphy | Email: j.murphy@murdoch.edu.au | Tel: 9360 7515

Qualification Bachelor of Business (BBus) in Economics
Duration 3 years full-time or part-time equivalent
Availability Murdoch campus (internal)
Murdoch campus (external)
Kaplan Higher Education Institute and Kaplan Higher Education Academy (Singapore) ['KAPLAN-SGP'] (internal) (language of instruction: English)
Description The Bachelor of Business (Economics) emphasises the applications of economic analysis to real world situations. All economics majors develop logical, empirical and contextual knowledge through studying sequential core units in economic theory and applied economics. It is strongly recommended that students aiming to achieve a thorough grounding in economics and economic policy take additional electives in economics, statistics, political economy and management. Graduates of a Bachelor of Business (Economics) will demonstrate skills in the following three areas: logical problem solving, interpretation and analysis of data, and presenting and communicating ideas. The fourth year honours program provides training in more advanced economic analysis and the research skills required for employment as a professional economist.
A Bachelor of Business provides a broad understanding of individual, organisational and societal issues. You will have the practical skills to identify business opportunities, analyse problems and implement solutions and you will be able to demonstrate a knowledge of business principles across key functional areas. You will have depth of knowledge in one or more business disciplines: accounting, banking, business law, economics, finance, hospitality and tourism management, human resources management, international business, management, and marketing.
Admission Requirements: Onshore course offerings As per normal undergraduate admission requirements.

Equivalent of an Academic IELTS overall score of 6.0 with no band less than 6.0.
Admission Requirements: Offshore course offerings As per normal undergraduate admission requirements.
Equivalent of an Academic IELTS overall score of 6.0 with no band less than 6.0.
Major Learning Outcomes KNOWLEDGE
Graduates of the Bachelor of Business (Economics) will be able to demonstrate:
a) a consistent and coherent command of the language of economics, including the ability to clearly define standard terms and explain basic concepts in both microeconomics and macroeconomics;
b) a consistent and coherent command of the principles of economics, both microeconomics and macroeconomics;
c) an understanding that the concepts and principles of economics are contested;
d) the ability to explain how agents (such as, individuals, households, firms, governments, not for profit entities) make economic decisions;
e) the ability to articulate critical features and shortcomings in an economic model or in a method of analysis;
f) the ability to explain the basic workings of an economic system and the role of policy in such a system;
g) understand how internationalisation and globalisation are leading to greater economic integration both among nations and within regions;
h) knowledge of a variety of approaches to problem solving; and
i) familiarity with the principles of socially, environmentally responsible business practice.

SKILLS
Graduates of the Bachelor of Business (Economics) will be able to:
a) demonstrate communications skills for presenting clear and coherent expositions of knowledge ideas and evidence, both orally and across a range of media, individually or in collaborative contexts, to a diverse range of audiences;
b) demonstrate proficiency in contemporary information technology tools and systems applicable to economics practice and research;
c) collaborate effectively with others including in formally constituted teams;
d) identify business problems or opportunities (diagnose);
e) retrieve and evaluate information/data (research);
f) critically evaluate available options and exercise professional and principled judgement (investigate);
g) respond creatively in the identification of opportunities and the management of risk (innovate);
h) apply interpretive, quantitative and analytical techniques as appropriate to develop business solutions (model);
i) make strategic decisions drawing on evidence from a range of sources (implement); and
j) engage in principled decision making that takes account of economic, social, environmental and ethical consequences.

APPLICATION
Graduates of the Bachelor of Business (Economics) demonstrate a capacity for personal autonomy, independent thinking, and innovative and creative practice by:
a) exercising judgement, self-direction, time management and professional development;
b) thinking reflectively and critically about a range of Economics issues;
c) constructively giving and receiving critical advice;
d) demonstrating interpersonal and cross-cultural sensitivity;
e) becoming reflective practitioners;
f) promoting ethical and professional business practices; and
g) respecting diversity.
Course Learning Outcomes KNOWLEDGE
CLO 1 - Graduates of the Bachelor of Business will be able to:
a) identify, explain and synthesize core concepts and principles in at least one business discipline;
b) critically apply theoretical and technical skills to creatively solve disciplinary specific problems;
c) analyse the contemporary global business environment;
d) evaluate a variety of approaches to problem solving;
e) integrate understandings of current business theory and research methods, and how they can be applied to inform real world decision making;
f) evaluate the interaction of personal/individual, organisational and societal issues; and
g) demonstrate a critical understanding of ethical and professional practice including the principles of socially and environmentally responsible business practice.

CLO 2 - Graduates of the Bachelor of Business will be able to:
a) demonstrate communications skills for presenting clear and coherent expositions of knowledge ideas and evidence, both orally and across a range of media, individually or in collaborative contexts, to a diverse range of audiences;
b) collaborate effectively with others including in formally constituted teams;
c) identify business problems or opportunities (diagnose);
d) retrieve and evaluate information/data (research);
e) critically evaluate available options and exercise professional and principled judgement (investigate);
f) respond creatively in the identification of opportunities and the management of risk (innovate);
g) apply interpretive, quantitative and analytical techniques as appropriate to develop business solutions (model);
h) make strategic decisions drawing on evidence from a range of sources (implement); and
i) engage in principled decision making that takes account of economic, social, environmental and ethical consequences.

CLO 3 - Graduates of the Bachelor of Business demonstrate a capacity for personal autonomy independent thinking, and innovative and creative practice by:
a) exercising judgement, self-direction, time management and professional development;
b) thinking reflectively and critically about a range of issues;
c) constructively giving and receiving critical advice;
d) demonstrating interpersonal and cross-cultural sensitivity;
e) becoming reflective practitioners;
f) promoting ethical and professional business practices; and
g) respecting diversity.
Employment Prospects The financial sector, Federal and State Public Service, major resource-based corporations, education and the health sector.
Professional Recognition Graduates are eligible for Associate Professional membership of the Economics Society of Australia.
Recommended Double Majors Accounting; Banking; Finance; Hospitality and Tourism Management; Human Resources Management; International Business; Management; Marketing
Main research areas Economic Growth; Human Capital Accumulation; Labour Markets; Maritime Economics; Asian Economies; Behavioural and Experimental Economics; Decision Theory; Sustainable Economic Development; Regional Economics; Environmental and Resource Economics.
Further Information School of Business and Governance web site
Internet Access RequirementsMurdoch units normally include an online component comprising materials, discussions, lecture recordings and assessment activities. All students, regardless of their location or mode of study, need to have access to and be able to use computing devices with browsing capability and a connection to the Internet via Broadband (Cable, ADSL or Mobile) or Wireless. The Internet connection should be readily available and allow large amounts of data to be streamed or downloaded (approximately 100MB per lecture recording). Students also need to be able to enter into online discussions and submit assignments online.

Course Structure - 72 credit points

Part I - 24 credit points

Year 1 - 24 credit points

Transition Unit - 3 credit points

BBS100 Academic Skills for Business - 3 points
MURDOCH: S1-internal, S1-external, S2-internal, S2-external

Breadth Unit for Degree - 3 credit points

BBS150 Transforming Business - 3 points
MURDOCH: S1-internal, S1-external, S2-internal, S2-external

Core Units - 12 credit points

BUS130 Foundational Mathematics for Business - 3 points
MURDOCH: S1-internal, S1-external, S2-internal, S2-external

BUS176 Foundations of Management and Governance - 3 points
MURDOCH: S1-internal, S1-external, S2-internal, S2-external

BUS171 Foundations of Economics - 3 points
MURDOCH: S1-internal, S1-external, S2-internal, S2-external

BUS162 Economics in Society - 3 points
MURDOCH: S2-internal, S2-external

General Electives - 6 credit points

Select from any 100-level units offered by the University, subject to individual unit prerequisites. Students are advised to consider using General Elective points to meet the requirements of a second major or minor. Any recommended double majors and minors will be included in the major's description.

Part II - 48 credit points

University-Wide Breadth Units - 6 credit points  Unit List

Select from the prescribed list of University-Wide Breadth Units. A unit cannot be used to satisfy both this Breadth Unit requirement and the requirements of a major or minor. If taken at 100 level the unit(s) will be attributed to Part I. Note that no more than 30 credit points at Part I may be credited towards course completion requirements.

Year 2 - 21 credit points

Research Skills Unit - 3 credit points

BBS200 Understanding Business Research: An Introductory Approach - 3 points
MURDOCH: S1-internal, S1-external, S2-internal, S2-external
KAPLAN-SGP: TJA-internal, TMA-internal, TSA-internal

Core Units - 9 credit points

BUS289 Macroeconomics A - 3 points
MURDOCH: S1-internal, S1-external
KAPLAN-SGP: TMA-internal

BUS291 Microeconomics A - 3 points
MURDOCH: S1-internal, S1-external
KAPLAN-SGP: TMA-internal

BUS292 Econometrics - 3 points
MURDOCH: S2-internal, S2-external
KAPLAN-SGP: TJA-internal, TSA-internal

General Electives - 9 credit points

Select from any 200- to 400-level units offered by the University, subject to individual unit prerequisites. Students are advised to consider using General Elective points to meet the requirements of a second major or minor. Any recommended double majors and minors will be included in the major's description.

Year 3 - 21 credit points

Research Skills Unit - 3 credit points

BBS300 Empirical Research Methods for Business - 3 points
MURDOCH: S1-internal, S1-external, S2-internal, S2-external

OR

BBS301 Applying Mixed Methods Research to Business - 3 points
MURDOCH: S1-internal, S1-external, S2-internal, S2-external
KAPLAN-SGP: TSA-internal

Core Units - 9 credit points

BUS318 Microeconomics B - 3 points
MURDOCH: S2-internal, S2-external
KAPLAN-SGP: TMA-internal

BUS327 Macroeconomics B - 3 points
MURDOCH: S2-internal, S2-external
KAPLAN-SGP: TMA-internal

BUS309 International Trade and Development - 3 points
MURDOCH: S1-internal, S1-external
KAPLAN-SGP: TSA-internal

General Electives - 9 credit points

Select from any 200- to 400-level units offered by the University, subject to individual unit prerequisites. Students are advised to consider using General Elective points to meet the requirements of a second major or minor. Any recommended double majors and minors will be included in the major's description.
Recommend electives:

BUS358 Professional Internship in Business - 9 points
MURDOCH: S1-internal, S2-internal, SUM-internal, U-internal

BUS267 Work-Based Learning - 3 points
MURDOCH: S1-internal (quota of 50 places)

For assistance with course planning, please contact your Student Advisor.

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