James Cook University Subject Handbook - 2022
For subject information from 2025 and onwards, please visit the new JCU Course and Subject Handbook website.
BU1903 - Principles of Economics
| Credit points: | 03 |
| Year: | 2022 |
| Student Contribution Band: | Band 4 |
| Administered by: | College of Business, Law & Governance (pre 2023 PCS) |
Available to Diploma of Higher Education students only.
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. A student who fails to attend at least 8 out of 10 workshops, must meet with the Associate Dean of Learning and Teaching and provide evidence as to why they should be permitted to submit the final assessment task.
Inadmissible Subject Combinations: EC1001 AND EC1005 AND BU1003
Availabilities
Cairns, Trimester 1, Internal | |
| Census date: | Thursday, 10 Mar 2022 |
| Study Period Dates: | Monday, 14 Feb 2022 to Saturday, 14 May 2022 |
| 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.
|
Cairns, Trimester 2, Internal | |
| Census date: | Thursday, 23 Jun 2022 |
| Study Period Dates: | Monday, 30 May 2022 to Saturday, 27 Aug 2022 |
| Coordinator(s): | MRS Diana Sheedy |
| Lecturer(s): | MRS Diana Sheedy |
| Workload expectations: | The student workload for this 3 credit point subject is approximately 130 hours.
|
JCU Singapore, Study Period 51, Internal | |
| Census date: | Thursday, 07 Apr 2022 |
| Study Period Dates: | Monday, 14 Mar 2022 to Friday, 17 Jun 2022 |
| Coordinator(s): | Assoc. Professor Jacob Wood MRS Diana Sheedy |
| 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, 04 Aug 2022 |
| Study Period Dates: | Monday, 11 Jul 2022 to Friday, 14 Oct 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.
|
JCU Singapore, Study Period 53, Internal | |
| Census date: | Thursday, 01 Dec 2022 |
| Study Period Dates: | Monday, 07 Nov 2022 to Friday, 17 Feb 2023 |
| 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, 10 Mar 2022 |
| Study Period Dates: | Monday, 14 Feb 2022 to Saturday, 14 May 2022 |
| Coordinator(s): | MRS Diana Sheedy |
| Lecturer(s): | MRS Natasha Garvey Assoc. Professor Riccardo Welters |
| Workload expectations: | The student workload for this 3 credit point subject is approximately 130 hours.
|
Townsville, Trimester 2, Internal | |
| Census date: | Thursday, 23 Jun 2022 |
| Study Period Dates: | Monday, 30 May 2022 to Saturday, 27 Aug 2022 |
| Coordinator(s): | MRS Diana Sheedy |
| Lecturer(s): | Assoc. Professor Sizhong Sun MISS Rachel Saunders |
| Workload expectations: | The student workload for this 3 credit point subject is approximately 130 hours.
|
Trimester 1, External | |
| Census date: | Thursday, 10 Mar 2022 |
| Study Period Dates: | Monday, 14 Feb 2022 to Saturday, 14 May 2022 |
| Coordinator(s): | MRS Diana Sheedy |
| Lecturer(s): | MRS Diana Sheedy |
| Workload expectations: | The student workload for this 3 credit point subject is approximately 130 hours.
|
| Method of delivery: | WWW - LearnJCU |
Trimester 2, External | |
| Census date: | Thursday, 23 Jun 2022 |
| Study Period Dates: | Monday, 30 May 2022 to Saturday, 27 Aug 2022 |
| Coordinator(s): | MRS Diana Sheedy |
| Lecturer(s): | Assoc. Professor Sizhong Sun MISS Rachel Saunders |
| Workload expectations: | The student workload for this 3 credit point subject is approximately 130 hours.
|
| Method of delivery: | WWW - LearnJCU |