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Unit (2019)

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

Foundations of Economics (BUS171)

School School of Business and Governance
Credit Points 3
Availability MURDOCH: S1-internal, S1-external, S2-internal, S2-external
DUBAI-ISC: TMD-internal
Teaching Timetables Murdoch S1
Murdoch S2
Description Economics is a study of how societies can best use and distribute the world's scarce resources to meet human needs and wants. This unit provides a valuable foundation of how economies operate, how businesses and individuals use economics in their decision making, and why governments implement certain economic policies. These include policies on employment, inflation, the environment, interest rates and the welfare of society. The unit also covers international issues including international trade, foreign debt, poverty and the global economy.
Unit Learning Outcomes On successful completion of the unit you should be able to:
1. Evaluate and apply the aims and purpose of economics to real world examples.
2. Analyse economic scenarios by applying the main concepts, terminologies and tools of economic analysis.
3. Discuss the importance of ethical representations of data and economic policy advice.
4. Use economic data correctly to interpret economic situations.
5. Research and argue economic issues and policy.
Timetabled Learning Activities Workshops: 2 hours per teaching week
All offerings of this unit include the equivalent of 30 hours of structured learning.
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 Test (internal students): 20%;
Research essay (all students): 30%;
Short-answer assignment (external students): 30%;
Workshop participation (internal students): 10%;
Final Exam: 40% (all students).
Prerequisites Nil.
Exclusions Students who have successfully completed BUS161 Introduction to Economics may not enrol in this unit for credit.
Previously 2013: BUS161
2013: 'Introduction to Economics'
Appears in these Courses/Majors:
see individual structures for context
Accounting (BBus) [New in 2019]
Accounting (BBus) [New in 2014]
Accounting (BCom) [New in 2018]
Bachelor of Business (BBus) [New in 2019]
Bachelor of Commerce (BCom) [New in 2018]
Banking (BBus) [New in 2019]
Banking (BBus) [New in 2014]
Banking (BCom) [New in 2018]
Business Law (BBus) [New in 2019]
Business Law (BCom) [New in 2018]
Commerce + Entrepreneurship and Innovation [Combined] (BCom)+(BEI) [New in 2019]
Finance (BBus) [New in 2019]
Finance (BCom) [New in 2018]
Global Business and Politics (BCom) [New in 2019]
Hospitality and Tourism Management (BBus) [New in 2019]
Hospitality and Tourism Management (BCom) [New in 2018]
Human Resources Management (BBus) [New in 2019]
Human Resources Management (BBus) [New in 2014]
Human Resources Management (BCom) [New in 2018]
International Business (BBus) [New in 2019]
International Business (BCom) [New in 2018]
International Business (BIB) [New in 2019]
Law + Business [Combined] (LLB)+(BBus)
Law + Commerce [Combined] (LLB)+(BCom)
Law + International Business [Combined] (LLB)+(BIB)
Management (BBus) [New in 2019]
Management (BCom) [New in 2018]
Marketing (BBus)
Marketing (BBus) [New in 2014]
Marketing (BCom) [New in 2018]
Appears in these Minors Economics
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.


Unit Coordinator
Dr Anne Garnett
Senior Lecturer in Economics

Murdoch Campus
t: 9360 6056
e: A.Garnett@murdoch.edu.au
o: 512.2.016 - Murdoch Business School, Murdoch Campus
Unit Contacts

MURDOCH: S1-External
MURDOCH: S1-Internal
MURDOCH: S2-External
MURDOCH: S2-Internal
Dr Anne Garnett
Senior Lecturer in Economics

Murdoch Campus
t: 9360 6056
e: A.Garnett@murdoch.edu.au
o: 512.2.016 - Murdoch Business School, Murdoch Campus

Mrs Loretta Dumas
P/T Teaching Casual

e: L.Dumas@murdoch.edu.au
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