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Unit (2020)

Information on this page, including unit offerings, is from the 2020 academic year.

Foundations of Economics (BUS1711)

Organisational Unit Business
Credit Points 3
Availability DUBAI-ISC: TJD-internal, TSD-internal
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: ULO1: Evaluate and apply the aims and purpose of economics to real world scenarios; ULO2: Analyse contemporary economic scenarios by applying the main concepts, terminologies and tools of economic analysis; ULO3: Discuss the importance and implications of ethical representations of data and economic policy advice; ULO4: Use economic data correctly to interpret economic situations and generate conclusions; ULO5: Research and argue economic issues and policy; ULO6: Communicate an understanding of current economic issues.
Timetabled Learning Activities (12 weeks x 4 hours face-to-face learning per teaching week) 1 x 2-hour Lecture per week
1 x 1-hour Tutorial per week
1 x 1-hour Workshop per week
All offerings of this unit include the equivalent of 30 hours of structured learning.
Unit Learning Experiences The learning and teaching approach informing the assessment and activity selection and design in this unit are student-centred, constructivist, and outcome-based (SOLO), featuring predominantly active learning strategies with tasks that are open-ended, authentic, and scaffolded. The unit uses blended learning which combines learning online with interactive workshops. Using this combination of online and face-to-face learning provides flexibility for all students to learn anytime (24/7), anywhere (with an Internet connection) at a pace that suits their learning style. In this unit students explore concepts online prior to workshops, through videos, audio, websites, simulations, readings, quizzes, blogs and online discussions. Workshops (online or face-to-face) are interactive and use active learning such as; guided instruction (e.g. small group and whole class discussion), role plays, simulations, case studies, scenario-based tasks, problem-based tasks, project-based tasks, presentations and enquiry-based tasks.
Assessment Assessment comprises: Workshop Participation and Presentation 15%; Research Essay: 30%; Multiple Choice Test: 15%; Final Exam: 40%
Prerequisites Nil
Exclusions Students who have successfully completed BUS161 Introduction to Economics or BUS171 Foundations of Economics may not enrol in this unit for credit.
Appears in these Courses/Majors:
see individual structures for context
Diploma of Business [New in 2019]
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.

Contacts

Unit Coordinator
BUS1711
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
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