ECON 1002 - Australia in the Global Economy

North Terrace Campus - Semester 1 - 2019

How has the global economy shaped Australia? How has Australia become so rich? What are the current economic issues Australia faces? Lectures will look into some of Australia's economic history as well as examining some of the country's current issues such as labour markets and industrial relations, international trade and finance, Australia's political economy, its agriculture, mining and manufacturing sectors. The course will deepen students' understanding of the world around us and its impact on the way we live and work.

  • General Course Information
    Course Details
    Course Code ECON 1002
    Course Australia in the Global Economy
    Coordinating Unit School of Economics
    Term Semester 1
    Level Undergraduate
    Location/s North Terrace Campus
    Units 3
    Contact Up to 3 hours per week
    Available for Study Abroad and Exchange Y
    Course Description How has the global economy shaped Australia? How has Australia become so rich? What are the current economic issues Australia faces? Lectures will look into some of Australia's economic history as well as examining some of the country's current issues such as labour markets and industrial relations, international trade and finance, Australia's political economy, its agriculture, mining and manufacturing sectors. The course will deepen students' understanding of the world around us and its impact on the way we live and work.
    Course Staff

    Course Coordinator: Dr Raul Barreto

    Dr. Raul A. Barreto
    Lvl 4 Nexus 10, Rm 426
    School of Economics
    University of Adelaide

    T  +61 8 8313 3240
    E raul.barreto@adelaide.edu.au

    Office hours: Wednesday 11-12 & by appointment
    Office location: Nexus 10 Building, Level 4, Room 4.26
    Course Timetable

    The full timetable of all activities for this course can be accessed from Course Planner.

  • Learning Outcomes
    Course Learning Outcomes

    On successful completion of this course, students will be able to:

    1. Make an economic argument.
    2. Explain how Australia developed into the Economy it is now.
    3. Evaluate the appropriateness of economic arguments
    4. Use general concepts in economics (e.g. GDP, demand, exchange rate, etc).
    5. Write concise comments on economic issues.
    6. Complete a group project and present the result.
    University Graduate Attributes

    This course will provide students with an opportunity to develop the Graduate Attribute(s) specified below:

    University Graduate Attribute Course Learning Outcome(s)
    Deep discipline knowledge
    • informed and infused by cutting edge research, scaffolded throughout their program of studies
    • acquired from personal interaction with research active educators, from year 1
    • accredited or validated against national or international standards (for relevant programs)
    1, 2, 4
    Critical thinking and problem solving
    • steeped in research methods and rigor
    • based on empirical evidence and the scientific approach to knowledge development
    • demonstrated through appropriate and relevant assessment
    3
    Teamwork and communication skills
    • developed from, with, and via the SGDE
    • honed through assessment and practice throughout the program of studies
    • encouraged and valued in all aspects of learning
    5, 6
    Career and leadership readiness
    • technology savvy
    • professional and, where relevant, fully accredited
    • forward thinking and well informed
    • tested and validated by work based experiences
    5
    Intercultural and ethical competency
    • adept at operating in other cultures
    • comfortable with different nationalities and social contexts
    • Able to determine and contribute to desirable social outcomes
    • demonstrated by study abroad or with an understanding of indigenous knowledges
    6
    Self-awareness and emotional intelligence
    • a capacity for self-reflection and a willingness to engage in self-appraisal
    • open to objective and constructive feedback from supervisors and peers
    • able to negotiate difficult social situations, defuse conflict and engage positively in purposeful debate
    5, 6
  • Learning Resources
    Required Resources
    Textbook:
    Ian W. McLean (2013): “Why Australia Prospered – The Shifting Resources of Economic Growth”, Princeton University Press

    Note: this book is not a classical text-book. It is rather an economic history of Australia
    Recommended Resources
    In case additional resources become relevant this will be communicated in the lectures and the tutorials.
    Online Learning

    MyUni (https://myuni.adelaide.edu.au) will be used to communicate efficiently as a group and to post material such as articles, reading lists, class notes, etc.

  • Learning & Teaching Activities
    Learning & Teaching Modes
    The course will use a wide variety of learning modes. Lectures will vary between core lectures given by the lecturer in charge and guest lectures. While the core lectures provide the academic economics knowledge, guest lectures are designed to provide practical background and real world relevance. Tutorials will be used for solving tutorial questions and student presentations.
    Workload

    The information below is provided as a guide to assist students in engaging appropriately with the course requirements.

    On average beyond attending lectures and tutorials, students are expected to spend about 4 hours per week for reading, solving practice examples, preparing projects and studying. The time required may vary across students and topics.
    Learning Activities Summary
    Teaching & Learning Activities Related Learning Outcomes
    Lectures 1,2,3,4
    Workshop discussion 5,6

    (Tentative) Learning Activities Schedule

    Part I: A brief economic history of Australia
    Week 1 Introduction – The facts
    Week 2 Early colonial prosperity
    Week 3 Gold rush – from boom to bust
    Week 4 Successive negative shocks – a long depression
    Week 5 Boom after World War II
    Week 6 Shocks, policy shifts and another boom

    Part II: The Australian economy today
    Weeks 7 to 12 Contemporary topics (guest lectures and case studies)
    Specific Course Requirements
    There are no specific requirements for this course.
  • Assessment

    The University's policy on Assessment for Coursework Programs is based on the following four principles:

    1. Assessment must encourage and reinforce learning.
    2. Assessment must enable robust and fair judgements about student performance.
    3. Assessment practices must be fair and equitable to students and give them the opportunity to demonstrate what they have learned.
    4. Assessment must maintain academic standards.

    Assessment Summary
    Assessment Task Due Weighting Learning Outcome
    Three written assignments (essay, policy brief, expert oppinion). Only the best counts.

    Weeks 4,9,12

    15% 1, 3, 4, 5
    Midterm exam Week 9 25% 2
    Final exam Week 14 45% 2, 4
    Group Project and Presentation Week 7/8 15% 6
    Total 100%
    Assessment Detail
    The midterm exam covers the history part of the course. No materials or calculators are allowed
    There will be four assignments students can hand in the best two assignments are counted
    In the group project students are asked to work together in groups and to prepare a presentation about an economic institution or a sector
    The final exam covers the whole course.
    Submission
    Except in cases outlined in the University Policy on modified arrangements for assessment, work that is submitted late is not accepted. Students are given feedback on their work (assignment and project report) within 2 weeks of submission.
    Course Grading

    Grades for your performance in this course will be awarded in accordance with the following scheme:

    M10 (Coursework Mark Scheme)
    Grade Mark Description
    FNS   Fail No Submission
    F 1-49 Fail
    P 50-64 Pass
    C 65-74 Credit
    D 75-84 Distinction
    HD 85-100 High Distinction
    CN   Continuing
    NFE   No Formal Examination
    RP   Result Pending

    Further details of the grades/results can be obtained from Examinations.

    Grade Descriptors are available which provide a general guide to the standard of work that is expected at each grade level. More information at Assessment for Coursework Programs.

    Final results for this course will be made available through Access Adelaide.

    Additional Assessment

    If a student receives 45-49 for their final mark for the course they will automatically be granted an additional assessment. This will most likely be in the form of a new exam (Additional Assessment) and will have the same weight as the original exam unless an alternative requirement (for example a hurdle requirement) is stated in this semester’s Course Outline. If, after replacing the original exam mark with the new exam mark, it is calculated that the student has passed the course, they will receive 50 Pass as their final result for the course (no higher) but if the calculation totals less than 50, their grade will be Fail and the higher of the original mark or the mark following the Additional Assessment will be recorded as the final result.
  • Student Feedback

    The University places a high priority on approaches to learning and teaching that enhance the student experience. Feedback is sought from students in a variety of ways including on-going engagement with staff, the use of online discussion boards and the use of Student Experience of Learning and Teaching (SELT) surveys as well as GOS surveys and Program reviews.

    SELTs are an important source of information to inform individual teaching practice, decisions about teaching duties, and course and program curriculum design. They enable the University to assess how effectively its learning environments and teaching practices facilitate student engagement and learning outcomes. Under the current SELT Policy (http://www.adelaide.edu.au/policies/101/) course SELTs are mandated and must be conducted at the conclusion of each term/semester/trimester for every course offering. Feedback on issues raised through course SELT surveys is made available to enrolled students through various resources (e.g. MyUni). In addition aggregated course SELT data is available.

  • Student Support
  • Policies & Guidelines
  • Fraud Awareness

    Students are reminded that in order to maintain the academic integrity of all programs and courses, the university has a zero-tolerance approach to students offering money or significant value goods or services to any staff member who is involved in their teaching or assessment. Students offering lecturers or tutors or professional staff anything more than a small token of appreciation is totally unacceptable, in any circumstances. Staff members are obliged to report all such incidents to their supervisor/manager, who will refer them for action under the university's student’s disciplinary procedures.

The University of Adelaide is committed to regular reviews of the courses and programs it offers to students. The University of Adelaide therefore reserves the right to discontinue or vary programs and courses without notice. Please read the important information contained in the disclaimer.