BU1903 - Economics for Sustainable Business

Credit points:	03
Year:	2013
Student Contribution Band:	Band 3
Administered by:	School of Business

This subject is an introductory subject in Economics. It covers concepts in Macroeconomics and Microeconomics and provides students with an understanding of the various economic interrelationships, both domestic and international, which will help them to reach informed business decisions in the highly dynamic world of business. The microeconomics part of the subject introduces the economic principles of demand and supply which build a foundation to understanding topics such as market forces, externalities, the environment, competition, the role of governments in markets, price and output determination under different market structures, and trade. The macroeconomics part of the subject explains existing theories of economic growth with extensive policy applications; it also provides discussions on economic (eg inflation) and social (eg employment) goals to be pursued at national and global level in order to achieve economic development and environmental sustainability.

Learning Outcomes

• contrast and compare economic growth rates of different countries and develop an understanding of their determinants;
• appreciate the interrelatedness of the global economy, which implies that localised crises may have global consequences;
• apply economics concepts to important contemporary microeconomic and macroeconomic problems including major policy issues;
• comprehend how economic policy tools at the deposal of governments may benefit individuals, individual firms and/or society at large;
• appreciate that resource scarcity must lead to economic trade-offs and appreciate the decision making processes involved in making those trade- offs, both at the individual (firm) level and the aggregate level.

Graduate Qualities

• The ability to adapt knowledge to new situations;
• The ability to define and to solve problems in at least one discipline area;
• The ability to think critically, to analyse and evaluate claims, evidence and arguments, and to reason and deploy evidence clearly and logically;
• The ability to find and access information using appropriate media and technologies;
• The ability to evaluate that information;
• An understanding of the economic, legal, ethical, social and cultural issues involved in the use of information;
• The acquisition of coherent and disciplined sets of skills, knowledge, values and professional ethics from at least one discipline area;
• The ability to generate, calculate, interpret and communicate numerical information in ways appropriate to a given discipline or discourse;
• The ability to select and use appropriate tools and technologies;
• The ability to use online technologies effectively and ethically.

Inadmissible Subject Combinations:

EC1001 AND EC1005 AND BU1003

Availabilities
JCU Brisbane, Internal, Study Period 21
Census Date 18-Apr-2013
Coordinator:	Dr Taha Chaiechi
Contact hours:	26 hours lectures 12 hours tutorials 9 hours - Lecturer Directed Activities
Assessment:	end of semester exam (40%); assignments (30%); quiz (30%).
Special Assessment Requirements:	Students must obtain a final mark of at least 50% to pass the subject, and must obtain at least an average of 50% over all invigilated components to pass the subject.
JCU Brisbane, Internal, Study Period 22
Census Date 15-Aug-2013
Coordinator:	Dr Taha Chaiechi
Contact hours:	26 hours lectures 12 hours tutorials 9 hours - Lecturer Directed Activities
Assessment:	end of semester exam (40%); assignments (30%); quiz (30%).
Special Assessment Requirements:	Students must obtain a final mark of at least 50% to pass the subject, and must obtain at least an average of 50% over all invigilated components to pass the subject.
JCU Brisbane, Internal, Study Period 23
Census Date 13-Dec-2013
Coordinator:	Dr Taha Chaiechi
Contact hours:	26 hours lectures 12 hours tutorials 9 hours - Lecturer Directed Activities
Assessment:	end of semester exam (40%); assignments (30%); quiz (30%).
Special Assessment Requirements:	Students must obtain a final mark of at least 50% to pass the subject, and must obtain at least an average of 50% over all invigilated components to pass the subject.

Note: Minor variations might occur due to the continuous Subject quality improvement process, and in case of minor variation(s) in assessment details, the Subject Outline represents the latest official information.