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Unit (2019)

Information on this page, including unit offerings, is from the 2019 academic year.

Economics in Society (BUS162)

Organisational Unit Business
Credit Points 3
Availability MURDOCH: S2-internal, S2-external
Teaching Timetables Murdoch S2
Description Economics plays an important role in policy outcomes affecting all areas of society. This unit focusses on the responsibilities of economists in society and the implications of assumptions and judgement in policy outcomes. The unit applies economic theory, models and tools to current issues. Relevant data is used and interpreted in an economic context. Issues relating to income distribution, the role of government in society, labour markets, asymmetric information, international policy, and long run economic growth and development are examined.
Unit Learning Outcomes On successful completion of the unit you should be able to:
ULO1: Demonstrate a knowledge of the role and responsibilities of economists in society.
ULO2: Analyse economic problems facing societies in terms of core economic principles and concepts.
ULO3: Demonstrate a knowledge of the implications of assumptions and judgements for economic policy.
ULO4: Communicate, orally and in writing, economic knowledge and ideas using empirical evidence.
ULO5: Apply task-specific academic research skills and practices to problem solving.
ULO6: Use and interpret relevant data in an economic context.
Timetabled Learning Activities Workshops: 2 hours per teaching week
Unit Learning Experiences The unit is delivered using blended learning design features with core unit materials provided in a digital format, followed up by small class knowledge application and skills development. This is enhanced by self-directed learning to further develop skills and application of knowledge to practical and current issues.
Assessment Assessment in this unit is authentic, real-world and relevant; assessments are constructive, sequential and inter-linked; requiring students to use and engage with progressively higher-order cognitive (skill-based) processes; assessments are aligned with the desired learning outcomes; and, provide challenge, interest and motivation to learn.

Assessment comprises four assessments:

1. Workshop Participation and Presentation (internal students): 15%
2. Short Answer Questions (external students): 15%
3. Online Multiple Choice Quiz (all students): 15%
4. Final Exam (all students): 40%
Research Report (all students): 30%
Prerequisites Nil.
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.


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