FS0401 - Economics

Credit points:	03
Year:	2018
Student Contribution Band:	Band 3
Administered by:	Division of Tropical Environments & Societies

This subject introduces students to the basic principles of economics and serves as a foundation for those pursuing undergraduate studies. Economics is the study of how people choose to use resources. Resources include the time and talent that people have available, the land, buildings, equipment, and other tools on hand, and the knowledge of how to combine them to create useful products and services. The subject covers what is generally accepted as the subject area of fundamental economic theories, concepts and policies. Economic principles and concepts are applied in decision making in a business environment. An understanding of the general economic environment and its effect upon business organisations and their markets will be acquired by the end of the subject. In addition, students will be introduced to the macro economic principles and market behaviour. This subject offers students a sound appreciation of the discipline. It is about introducing the basic concepts and demonstrating their actual and potential uses in a managerial, business, personal and social context.

Learning Outcomes

• apply critical thinking of economic theories to solve quantitative economic problems;
• construct and analyse graphical models of economic theory;
• analyse and apply knowledge of economic theory through problem solving and case studies;
• demonstrate an understanding of the basic principles of economics and business.

Assumed Knowledge:

Students will have basic knowledge in expressing their ideas in an academic setting.

Availabilities
Cairns, Internal, Study Period 1
Census Date 22-Mar-2018
Coordinator:	Ms Barbara Carter
Lecturer:	jc248054.
Contact hours:	65 hours lectures
Assessment:	end of semester exam (50%); quizzes or tests (20%); assignments (30%).
Special Assessment Requirements:	Nil
Restrictions:	An enrolment quota applies to this offering.
Cairns, Internal, Study Period 2
Census Date 23-Aug-2018
Coordinator:	Ms Barbara Carter
Lecturer:	jc248054.
Contact hours:	65 hours lectures
Assessment:	end of semester exam (50%); quizzes or tests (20%); assignments (30%).
Special Assessment Requirements:	Nil
Restrictions:	An enrolment quota applies to this offering.

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.