ECON5103 Business Economics - 2022
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ECON5103 Business Economics - 2022
1. Course Details
Summary of Course
An introduction to economic analysis and policy, with particular application to decision-making in business. The course provides students with the tools to use economic principles in decision-making and an understanding of the broader economic environment in which business decisions must be made.
Teaching Times and Locations
Please note that teaching times and locations are subject to change. Students are strongly advised to refer to the Class Timetable website for the most up-to-date teaching times and locations.
Course Policies & Support
The Business School expects that you are familiar with the contents of this course outline and the UNSW and Business School learning expectations, rules, policies and support services as listed below:
Program Learning Outcomes
Academic Integrity and Plagiarism
Student Responsibilities and Conduct
Special Consideration
Protocol for Viewing Final Exam Scripts
Student Learning Support Services
Further information is provided in the Assessmentand PoliciesandSupportsections.
Students may not circulate or post online any course materials such as handouts, exams, syllabi or similar resources from their courses without the written permission of their instructor.
Course Aims and Relationship to Other Courses
The aims of this course are to introduce economic concepts and methods of analysis, and to enable students to understand and use economic arguments in business decision making. The course assumes no previous study of economics.
ECON5103 is a prerequisite for other postgraduate courses offered by the School of Economics. It is also designed to satisfy the requirements of professional bodies, which require their members to have a basic knowledge of economics.
There are no prerequisites for this course.
Student Learning Outcomes
The Course Learning Outcomes (CLOs) are what you should be able to demonstrate by the end of this course, if you participate fully in learning activities and successfully complete the assessment items.
CLOs also contribute to your achievement of the Program Learning Outcomes (PLOs), which are developed across the duration of a program for all students. More information on coursework PLOs is available under PoliciesandSupport . PLOs are, in turn, directly linked to UNSWgraduatecapabilitiesand the aspiration to develop “globally focussed graduates who are rigorous scholars, capable of leadership and professional practice in an international community” .
For PG research PLOs please refer to the UNSWHDRGraduateAttributesandLearningOutcomes .
The following table shows how the CLOs for this course relate to the overall PLOs and indicates where each CLO and PLO is assessed:
Course Learning Outcomes |
Program Learning Outcomes |
Course Assessment Item |
|
On successful completion of the course, you should be able to: |
This course helps you to develop the following Program Learning Outcomes: |
This learning outcome will be assessed in the following items: |
|
1. Describe key micro- and macro-economic concepts. |
PLO 1: Business knowledge |
In-session test Final Exam |
|
2. Construct economic arguments in terms of key concepts. |
PLO 1: Business knowledge |
|
Seminar Submission Question Seminar Participation |
3. Critically read and evaluate economic stories in the media. |
PLO 2: Problem solving |
|
Seminar Submission Question Seminar Participation |
4. Apply simple economic models to the analysis of the relevant economic issues. |
PLO 2: Problem solving PLO 4: Teamwork PLO 7: Leadership development |
In-session test Final Exam |
|
5. Construct written work which is logically and professionally presented |
PLO 3: Business communication PLO 4: Teamwork PLO 7: Leadership development |
|
Seminar Submission Question Seminar Participation |
6. Identify and assess environmental and sustainability considerations in problems in international macroeconomics. |
PLO 5: Responsible business practice PLO 6: Global and cultural competence PLO 7: Leadership development |
|
Seminar Submission Question Seminar Participation |
2. Staff Contact Details
Position |
Title |
Name |
|
Location |
Phone |
Consultation Times |
Lecturer- in- charge |
Prof |
Room 452, UNSW Business School |
(02) 9065 1355 |
Tuesdays and Thursdays 7 - 8 am or by appointment |
||
Lecturer |
Dr |
Yiyuan Xie |
Room tbd, UNSW Business School |
tbd |
tbd |
Communications with staff
We strongly encourage all enquiries about the subject material to be made at lectures or seminars, or during consultation time.
Email communication should be used for advising of absence or other administrative matters, or for arranging an appointment outside of consultation hours.
Please note that the lecturers have no advance notice of the date and time of the fnal exam. Student Enrolment Requests
Students can vary their own enrolment (including switching lecture streams or tutorials) via myUNSW until the end of Week 1. In general, most other student enrolment requests should be directed to The Nucleus:StudentHub(formerly Student Central). These include enrolment in full courses or tutorials, course timetable clashes, waiving prerequisites for any course, transfer-of-credit (international exchange, transfer to UNSW, cross-institutional study, etc.), or any other request which requires a decision about equivalence of courses and late enrolment for any course. Where appropriate, the request will be passed to the School Offce for approval before processing. Note that enrolment changes are rarely considered after Week 2 classes have taken place.
3. Learning and Teaching Activities
Use of your Webcam and Digital Devices: If you enrol in an online class, or the online stream of a hybrid class, teaching and associated activities will be conducted using Teams, Zoom, or similar a technology. Using a webcam is optional, but highly encouraged, as this will facilitate interaction with your peers and instructors. If you are worried about your personal space being observed during a class, we encourage you to blur your background or make use of a virtual background. Please contact the Lecturer-in-Charge if you have any questions or concerns.
Some courses may involve undertaking online exams for which your own computer or digital devices will be required. Monitoring of online examinations will be conducted directly by University staff and is bound by the University's privacy and security requirements. Any data collected will be handled accordance with UNSWpoliciesandstandardsfordatagovernance. For more information on how the University manages personal information please refer to the UNSW StudentPrivacyStatementand the UNSWPrivacyPolicy.
Approach to Learning and Teaching in the Course
The philosophy underpinning this course and its teaching and learning strategies is based on Guidelines onLearningthatInformTeachingatUNSW . Specifcally, the lectures, seminars and assessment have been designed to appropriately challenge students and support the achievement of the desired learning outcomes. A climate of inquiry and dialogue is encouraged between students and teachers and among students (in and out of class). Teaching staff aim to provide meaningful and timely feedback to students to improve learning outcomes.
The lectures will be delivered online (in real time / "synchronously"), and lecture recordings will be also available to stream and download to accommodate students studying from alternate time zones. Covid restrictions permitting, seminars will be offered in two formats: face-to-face and online (in real time / "synchronously"). Students should check their individual timetables for an indication of the delivery mode pertaining to the seminar stream in which they are enrolled. Seminars will not be recorded.
Learning Activities and Teaching Strategies
The examinable content of the course is defned by the references given in the lecture schedule, the content of lectures, and the content of the seminar program.
Lectures
The purpose of lectures is to provide a logical structure for the topics that make up the course; to emphasise the important concepts and methods of each topic; and to provide relevant examples to which the concepts and methods are applied. It's highly recommended that students attend the lectures in real time. While the course is being taught online, we encourage students to engage with their peers through the chat function.
Seminars
The purpose of the seminars is to reinforce and clarify the concepts and issues covered in the lectures and identify and remedy any problems with understanding. Students are expected to prepare for, and contribute to, seminar discussions.
A program for seminars will be distributed in the frst lecture and will be posted on the course website. In the seminar program, each seminar will consist of:
Review Questions. Students should attempt these before attendance at their seminar class. Questions
which pose diffculties can be raised with the tutor.
Submission questions. See Section 4. Assessment - Seminar Submission Questions for further detail.
Out-of-Class Study
While students may have preferred individual learning strategies, most learning will be achieved outside of class time. Lectures can only provide a structure to assist your study, and seminar time is limited.
An “ideal” strategy (on which the provision of the course materials is based) might include:
Reading of the relevant chapter(s) of the text and any other assigned readings before the lecture. This
will give you a general idea of the topic area.
Attendance at lectures. Here the context of the topic in the course and the topic's relevance and
important elements are identifed, as well as the key concepts pertaining to the topic. Students should download a copy of the lecture slides from the website before the lecture. These slides can then be used in lectures for students to make additional notes. All slides will be posted on the course website.
Attempting the Review Questions before the seminar and checking the answers. A sketch of the suggested answers to Review Questions (to the extent that they are not already given in the textbook) will typically be posted on the course website a couple of days after they have been covered in the
seminars.
Preparing notes for the class discussion of the Submission Questions. (Even if the Submission Question for a specifc seminar is not the one you have been allocated to submit, you should prepare notes to contribute to the discussion.)
Attending seminars and asking the tutor to explain those Review Questions which posed diffculties. Presenting (if allocated) or contributing to the class discussion of the Submission Questions.
4. Assessment
Formal Requirements
In order to pass this course, you must:
achieve a composite mark of at least 50 out of 100;
meet any additional requirements described in the Assessment Summary section.
You are expected to attempt all assessment requirements in the course.
2022-09-17