Principles of Economics

Course aim

To introduce students to the fundamental principles of economics and its application to analysing individual behaviour, markets and government policy in the macroeconomy.

Course content

The economic decisions faced by individuals, households, firms and governments; analysis of prices and output determination in the context of markets and incentives; market structures, the strengths and weaknesses of the market mechanism and the role of public policy; business cycles, inflation and unemployment; role of monetary and fiscal policy; trade and the open macroeconomy.

Textbook(s)

Hubbard, RG, O'Brien, A, Garnett, AM & Lewis, P 2021, Essentials of economics, 5th edn, Pearson, Australia, ISBN: 9780655702870

Prerequisite(s)

Nil

Corequisite(s)

Nil

Teaching method

Component	Duration
INTERNAL, CITY WEST
Preparatory	1 x 1 week
Lecture	2 hours x 10 weeks
Tutorial	1 hour x 10 weeks
Lecture (Virtual)	2 hours x 10 weeks
INTERNAL, MT GAMBIER
Preparatory	1 x 1 week
Workshop	3 hours x 10 weeks
INTERNAL, WHYALLA
Preparatory	1 x 1 week
Workshop	3 hours x 10 weeks
INTERNAL, OFFSHORE, HONG KONG BAPTIST UNIVERSITY
Workshop	35 hours x NA
INTERNAL, CITY WEST (INTENSIVE)
Seminar	30 hours x NA
EXTERNAL, CITY WEST, ONLINE
External	30 hours x NA
INTERNAL, OFFSHORE, TAYLOR'S BUSINESS SCHOOL
Workshop	35 hours x NA

Note: These components may or may not be scheduled in every study period. Please refer to the timetable for further details.

Assessment

Case study, Continuous assessment, Examination

Fees

EFTSL*: 0.125
Commonwealth Supported program (Band 4C)
To determine the fee for this course as part of a Commonwealth Supported program, go to:
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Fee-paying program for domestic and international students
International students and students undertaking this course as part of a postgraduate fee paying program must refer to the relevant program home page to determine the cost for undertaking this course.

Non-award enrolment
Non-award tuition fees are set by the university. To determine the cost of this course, go to:
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Not all courses are available on all of the above bases, and students must check to ensure that they are permitted to enrol in a particular course.

* Equivalent Full Time Study Load. Please note: all EFTSL values are published and calculated at ten decimal places. Values are displayed to three decimal places for ease of interpretation.