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 .
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.
Assessment Structure
Assessment Task |
Weighting |
Length |
Due Date |
In-session test |
25% |
1 hour and 15 mins |
Week 5. Details to be provided. |
Seminar Submission Question (in-class presentation plus written submission) |
20% |
Written submission: About 1000 words |
Once during the term. Details provided on Moodle. |
Seminar Participation |
10% |
Answering questions in seminars |
Regular attendance and contribution to seminars by asking and answering questions. Attendance and participation records will be maintained. |
Final Exam |
45% |
2 hours and 15 mins |
University Exam Period |
Total |
100% |
– |
– |
Assessment Summary
As a student at UNSW you are expected to display academicintegrityin your work and interactions. Where a student breaches the UNSWStudentCodewith respect to academic integrity, the University may take disciplinary action under the Student Misconduct Procedure. To assure academic integrity, you may be required to demonstrate reasoning, research and the process of constructing work submitted for assessment.
To assist you in understanding what academic integrity means, and how to ensure that you do comply with the UNSW Student Code, it is strongly recommended that you complete the WorkingwithAcademic Integritymodule before submitting your frst assessment task. It is a free, online self-paced Moodle module that should take about one hour to complete.
In-session test (25%)
There will be an in-session test held in Week 5. It will cover materials from Weeks 1 to 4 (inclusive). The in-session test will be designed to be completed by a well-prepared student in approximately 75 minutes. It will have an online (and open book) format. Details will be advised on the course website via Moodle.
There will be no supplementary assessment offered for the in-session test. Students who fail to submit the test will need to apply for SpecialConsideration . Special Consideration applications will be assessed centrally by the Case Review Team within Student Lifecycle (not by the course staff). Students granted Special Consideration will have their mark in the remaining assessment tasks re-weighted to include the weight of the mark reserved for the missed test. In all other cases of non-submission students will receive a grade of zero.
Seminar Submission Question (20%)
The purpose of the Seminar Submission Question is to cover the core principles of a topic and to provide some practice in applying the principles for analysis of economic issues. All students should prepare notes on all questions to contribute to the discussion of these questions in the seminar class.
In the frst seminar, you will be placed in a group with two (+/- one) other students and the group will be allocated a Submission Question. Details and rules related to group formation will be given at that time. Students allocated to a question will be required to lead their seminar group's discussion with an oral presentation of their planned answer, in the week covering the material of their submission question. Each group will then be required to submit a written answer to its allocated question (approx. 1000 words) in the class of the following week. One of the aims of the presentation in class is to allow you to incorporate any useful comments from the class discussion into your written answer. If the oral presentation cannot be conducted by any of the group members (e.g., due to time zone differences), submitting a recorded presentation to be played to the class is acceptable. In this case, all group members should send a written notifcation to the tutor at least 48 hours before the scheduled presentation.
The formation and conduct of the group should follow the guidelines available at https:// student.unsw.edu.au/groupworkand this fle will also be available on the course Moodle site. Group members will be required to complete a group contract before group work commences detailing each member’s role and responsibilities, and details of any meetings the group will attend together, which they all sign.
The group members are also required to complete a peer assessment. The peer assessment will be used to assess the quality of each member’s teamwork and contribution. In the event of a big discrepancy between the average peer assessment marks earned by students in the same group, the mark allocated to each member will beweighted by their peers’ assessment. Detailed procedures for the peer assessment (including the threshold of discrepancy) will be made available via Moodle. More information and details will be provided at the frst seminar.
You should type up your fnal answer to the Submission Question in the form of a report of about 1000 words. Where appropriate you should include diagrams and acknowledge sources and references. This report should be attached to the signed Assignment Cover Sheet (see the course website) and submitted by the due date.
Students should be prepared to contribute to the discussion of Submission Questions, even if the Submission Question for a specifc seminar is not the one you have been allocated to submit. A record of attendance and participation in seminars will be kept by the tutor.
Students must sign on by 10 minutes from the start of seminar to qualify as ‘in attendance’. Signing on for another student will be treated as misconduct. If, owing to illness or other exceptional circumstances, you are unable to attend your usual seminar, you may try to attend another seminar in the same week. Inform the tutor of the reasons in class and confrm in writing after the seminar. Cc: the Lecturer-in-Charge in your message.
In-class pop quizzes pertaining to the assigned readings may occur throughout the term, and at least one of these will be given, and feedback provided, by the end of Week 4 and possibly another one before the end of Week 9. These quizzes will not count toward your fnal mark, but they are important to test your knowledge and get you prepared for the test technologies used in the in-session test and fnal exam.
Seminar Participation (10%)
The item assesses your attendance and contribution to seminars through asking and answering questions. Attendance and participation records will be maintained. For details, see SUBMISSION QUESTION (AND MARKING) GUIDE which you will fnd on the course Moodle site.
Final Exam (45%)
The fnal exam will be held in the University examination period and will be designed such that a well- prepared student could complete it in 2 hours and 15 minutes. The fnal exam will cover the entire course but have an emphasis on the materials from Weeks 6-9. As with the in-session test, the fnal exam will have an online and open-book format.
Further information on the content of the fnal exam will be provided towards the end of the term. All material covered in the lectures and seminar program is examinable.
Assignment Submission Procedure
Students must submit an electronic copy of their Submission Question via Moodle. Instructions (including exact due time) will be announced on the course Moodle site. Browse and upload a copy of your document - do not paste text. Use your student ID in the fle name. One student from each group should submit the group's report, clearly identifying all other students whose Submission Question requirement is covered by the submission.
Electronic copies of assignments may be checked for plagiarism via the Turnitin software to which the assignments are uploaded. See notes on Plagiarism in the Course Outlines Policies page. Also note that the Turnitin software will automatically check against all other assignments submitted. Therefore, it is important to not submit the same assignment twice.
2022-09-26