James Cook University Subject Handbook - 2021
For subject information from 2025 and onwards, please visit the new JCU Course and Subject Handbook website.
BU1003 - Principles of Economics
| Credit points: | 03 |
| Year: | 2021 |
| Student Contribution Band: | Band 4 |
| Administered by: | College of Business, Law & Governance |
Subject Description
- This subject provides students with an introduction to economics. Students cover foundational concepts in microeconomics and macroeconomics. In microeconomics, the subject introduces the economic principles of demand and supply which are fundamental to understanding market outcomes and government intervention in particular markets (for example to provide social services/protection, environmental protection or to stop anti-competitive market behaviour). In macroeconomics, the subject introduces the principles of economic growth and the tools governments use to steer economic growth (both in the short and long run) or make that growth more sustainable and inclusive. Understanding the principles of economics allows students to anticipate the behaviour of market agents (be they individuals, firms or governments), which is an important skill to any student, not the least those pursuing a career in business.
Learning Outcomes
- explain the basic principles of economics
- identify and apply the characteristics of economic thought and theory
- examine the practical relevance of economics and apply to current microeconomic and macroeconomic contexts
Subject Assessment
- Written > Test/Quiz 1 - (30%) - Individual
- Written > Case notes - (35%) - Individual
- Written > Media article - (35%) - Individual
Note that 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.
Special Assessment Requirements
Mandatory attendance requirements apply in this subject. Students must attend the weekly workshops. A student who fails to attend at least 8 out of 10 workshops must meet with the Associate Dean, Learning & Teaching and provide evidence as to why they should be permitted to submit the final assessment task.
Inadmissible Subject Combinations: EC1001 EC1005 BU1903
Availabilities
Cairns, Trimester 1, Internal | |
| Census date: | Thursday, 11 Mar 2021 |
| Study Period Dates: | Monday, 15 Feb 2021 to Saturday, 15 May 2021 |
| Coordinator(s): | DR Diane Jarvis |
| Lecturer(s): | MRS Diana Sheedy MISS Rachel Saunders DR Diane Jarvis MRS Tracey Cockburn |
| Workload expectations: | The student workload for this 3 credit point subject is approximately 130 hours.
|
Cairns, Trimester 3, Internal | |
| Census date: | Thursday, 07 Oct 2021 |
| Study Period Dates: | Monday, 13 Sep 2021 to Saturday, 11 Dec 2021 |
| Coordinator(s): | MRS Diana Sheedy |
| Lecturer(s): | MRS Diana Sheedy MRS Monique Holland MRS Tracey Cockburn |
| Workload expectations: | The student workload for this 3 credit point subject is approximately 130 hours.
|
JCU Brisbane, Study Period 21, Internal | |
| Census date: | Thursday, 11 Mar 2021 |
| Study Period Dates: | Monday, 15 Feb 2021 to Saturday, 15 May 2021 |
| Coordinator(s): | DR Diane Jarvis |
| Lecturer(s): | MR Patrick Goh |
| Workload expectations: | The student workload for this 3 credit point subject is approximately 130 hours.
|
JCU Brisbane, Study Period 22, Internal | |
| Census date: | Thursday, 24 Jun 2021 |
| Study Period Dates: | Monday, 31 May 2021 to Saturday, 28 Aug 2021 |
| Coordinator(s): | DR Diane Jarvis |
| Lecturer(s): | MR Patrick Goh |
| Workload expectations: | The student workload for this 3 credit point subject is approximately 130 hours.
|
JCU Singapore, Study Period 51, Internal | |
| Census date: | Thursday, 08 Apr 2021 |
| Study Period Dates: | Monday, 15 Mar 2021 to Friday, 18 Jun 2021 |
| Coordinator(s): | Assoc. Professor Jacob Wood |
| Lecturer(s): | Assoc. Professor Pengji Wang |
| Workload expectations: | The student workload for this 3 credit point subject is approximately 130 hours.
|
JCU Singapore, Study Period 52, Internal | |
| Census date: | Thursday, 05 Aug 2021 |
| Study Period Dates: | Monday, 12 Jul 2021 to Friday, 15 Oct 2021 |
| Coordinator(s): | Assoc. Professor Jacob Wood |
| Lecturer(s): | Assoc. Professor Pengji Wang |
| Workload expectations: | The student workload for this 3 credit point subject is approximately 130 hours.
|
JCU Singapore, Study Period 53, Internal | |
| Census date: | Thursday, 02 Dec 2021 |
| Study Period Dates: | Monday, 08 Nov 2021 to Friday, 18 Feb 2022 |
| Coordinator(s): | Assoc. Professor Jacob Wood |
| Lecturer(s): | Assoc. Professor Pengji Wang |
| Workload expectations: | The student workload for this 3 credit point subject is approximately 130 hours.
|
Townsville, Trimester 1, Internal | |
| Census date: | Thursday, 11 Mar 2021 |
| Study Period Dates: | Monday, 15 Feb 2021 to Saturday, 15 May 2021 |
| Coordinator(s): | DR Diane Jarvis |
| Lecturer(s): | MISS Rachel Saunders MR Dave Gleeson Assoc. Professor Riccardo Welters |
| Workload expectations: | The student workload for this 3 credit point subject is approximately 130 hours.
|
Townsville, Trimester 3, Internal | |
| Census date: | Thursday, 07 Oct 2021 |
| Study Period Dates: | Monday, 13 Sep 2021 to Saturday, 11 Dec 2021 |
| Coordinator(s): | MRS Diana Sheedy |
| Lecturer(s): | MISS Rachel Saunders |
| Workload expectations: | The student workload for this 3 credit point subject is approximately 130 hours.
|
Trimester 1, External | |
| Census date: | Thursday, 11 Mar 2021 |
| Study Period Dates: | Monday, 15 Feb 2021 to Saturday, 15 May 2021 |
| Coordinator(s): | DR Diane Jarvis |
| Lecturer(s): | MRS Diana Sheedy MISS Rachel Saunders MRS Natasha Garvey |
| Workload expectations: | The student workload for this 3 credit point subject is approximately 130 hours.
|
| Method of delivery: | WWW - LearnJCU |
Trimester 3, External | |
| Census date: | Thursday, 07 Oct 2021 |
| Study Period Dates: | Monday, 13 Sep 2021 to Saturday, 11 Dec 2021 |
| Coordinator(s): | MRS Diana Sheedy |
| Lecturer(s): | MRS Diana Sheedy MISS Rachel Saunders |
| Workload expectations: | The student workload for this 3 credit point subject is approximately 130 hours.
|
| Method of delivery: | WWW - LearnJCU |