ECON 7200 - Economic Principles (M)
North Terrace Campus - Semester 2 - 2019
General Course Information
Course Code ECON 7200 Course Economic Principles (M) Coordinating Unit School of Economics Term Semester 2 Level Postgraduate Coursework Location/s North Terrace Campus Units 3 Contact Up to 3 hours per week. Intensive in Summer Semester and one or two Trimesters. Available for Study Abroad and Exchange Y Incompatible Introductory Macroeconomics and Microeconomics. Not available to PGCW Economics programs. Course Description This is an introductory course in economics, which introduces students to the principles, concepts, data and analytical frameworks that economists use to understand the world around us. Students develop an understanding of how the economy works and how individuals, firms and governments make decisions and interact with one another in markets and other environments. The course also focuses on the ability of students to communicate about real-world issues and public policy debates through the lens of economics.
Course Coordinator: Dr Yaping Shan
The full timetable of all activities for this course can be accessed from Course Planner.
Course Learning Outcomes
On successful completion of this course, students will be able to:
- Demonstrate a solid understanding of the core concepts and tools of economics.
- Relate basic economic theory and principles to current economic issues and evaluate related public economic policies.
- Apply economic principles and reasoning to solving business problems.
- Interpret charts, graphs, and tables and use the information to make informed judgments.
- Communicate their knowledge and understanding of economic issues using written, verbal and visual expression.
- Critically reflect on the broader social consequences of economic decision making.
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)
1,2,3 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
2,3,4 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 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
2,3,6 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
The textbook for this course is 'Economy, Society, and Public Policy' which is an online open-access (free) text. Projects will also be set from the companion text 'Doing Economics', both of which are available at core-econ (https://www.core-econ.org).
For convenience, direct links have been provided below.
Economy, Society, and Public Policy: https://www.core-econ.org/espp/
Doing Economics: https://www.core-econ.org/doing-economics/
Online LearningThis course makes use of MyUni for the posting of course materials, assessment tasks, and important announcements. It is expected that all students will regularly check the MyUni course website, and regularly check their university email accounts.
Learning & Teaching Activities
Learning & Teaching ModesTeaching sessions are divided into lectures and tutorials. The lecture covers the key concepts of a particular topic to complement the textbook and any other resources provided on MyUni. Tutorials will consolidate your understanding of course material by working through problems and expand your understanding of course material through group discussion. You will have weekly assessment tasks due each week after the tutorials giving you an opportunity to show what you have learnt. The tutorials and weekly assessments follow the week after the lecture, so for example, the lecture content covered in Week 1 will be covered in the tutorial session in Week 2 and the weekly assessments due in Week 2.
The information below is provided as a guide to assist students in engaging appropriately with the course requirements.The University expects full-time students (i.e. those taking 12 units per semester) to devote a total of 48 hours per week to their studies. This translates to 12 hours per week for a semester course.
Learning Activities Summary
Teaching & Learning Activities Related Learning Outcomes Lectures 1,2,3,4,6 Tutorials 1,2,3,4,5,6
Note: This schedule is subject to change.
Week Topic ESPP Text Reading 1 Capitalism: affluence, inequality, and the environment Chapter 1 2 Social interactions and economic outcomes Chapter 2 3 Public policy for fairness and efficiency Chapter 3 4 Work, wellbeing, and scarcity Chapter 4 5 Institutions, power, and inequality Chapter 5 6 The firm: Employees, managers, and owners Chapter 6 7 Firms and markets for goods and services Chapter 7 8 The labour market: Wages, profits, and unemployment Chapter 8 9 The credit market: Borrowers, lenders, and the rate of interest Chapter 9 10 Banks, money, housing, and financial assets Chapter 10 11 Market failures and government policy Chapter 11 12 Governments and markets in a democratic society Chapter 12
The University's policy on Assessment for Coursework Programs is based on the following four principles:
- Assessment must encourage and reinforce learning.
- Assessment must enable robust and fair judgements about student performance.
- Assessment practices must be fair and equitable to students and give them the opportunity to demonstrate what they have learned.
- Assessment must maintain academic standards.
Assessment Task Due Date/ Week Weighting Length (word limit) Learning Outcomes Weekly Assignments Weekly 30% Various 1,2,3,4,5,6 Participation Weekly 10% N/A 1,2,3,4,5,6 Final Exam Exam Period 60% 3 hours 1,2,3,4,5,6 Total 100%
Assessment DetailWeekly assignments 30%
Assignments will be due each week, and may contain a variety of formats including written responses and other activities. Details regarding the content, format, requirements and due dates for each assignment will be provided on MyUni, please refer there for further details.
Students will receive a grade based on their participation in the class sessions including the Lecture session. Further details will be provided on MyUni.
Final exam 60%
The final exam will be a 3-hour exam, plus 10 minutes reading time. This exam may assess all topics covered in the course. Details regarding the structure will be posted on MyUni. Please note that this is a closed book exam. Dictionaries of any type will not be allowed in the exam. Calculators will be allowed in the exam, but calculators that can store text, are programmable, or have wireless functions will not be permitted. This means graphics calculators are not permitted, and some particular scientific calculators may not be permitted.
SubmissionRefer to MyUni for detailed instructions regarding submission.
Students must retain a copy of all assignments submitted.
Late submissions will not be accepted.
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.
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.
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