Semester 1 & 2
Dr Raul Barreto
Office location: Nexus 10, Level 4, Room 4.26
Telephone: 8313 3240

Week	Lecture and Workshop dates	Lecture Topics	Text Chapter(s) Hubbard 2nd ed
1	Jan 8	Introduction The economic problem	1-2
	Jan 10	Demand and Supply	3
2	Jan 15	Markets in Action	4-5
	Jan 17	Firms, Production, and Costs	6
3	Jan 22	Perfect Competition and Monopoly	7-8
	Jan 24	Monopolistic Competition and Oligopoly	9
4	Jan 29	Market Failures	10-11
	Jan 31	International Trade and Finance	18-19
5	Feb 5	The Macroeconomic Environment	12-13
	Feb 7	Aggregate Supply and Aggregate Demand	14
6	Feb 12	Monetary Policy	15-16
	Feb 14	Fiscal Policy	17

This course aims to develop students’ understanding of the keys principles of macroeconomics and microeconomics in order to make effective business decisions. The course provides a theoretical framework to analyse the markets, government policies, firm’s behaviour and macroeconomic policies.

On the successful completion of the course students will be able to:

1	Explain how scarce resources are allocated in a market system
2	Recognise various forms of market failure and explain how governments might need to intervene
3	Recognise the constraints on government intervention and explain why government policy might fail
4	Relate basic economic theory and principles to current economic issues and evaluate related public policy
5	Use economic models to analyse a situation in terms of economics
6	Interpret charts, graphs, and tables and use the information to make informed judgments
7	Work and learn independently and with others
8	Communicate their knowledge and understanding of economic issues using written, verbal and visual expression
9	Evaluate outcomes based on the costs and benefits involved
10	Understand the broader social consequences of economic decisions making

 

Garnett, A.M., Lewis, P., Hubbard, R.G. and O’Brien, A.P. (2010) Essentials of Economics, Pearson, Sydney.

McTaggart, D., Findlay, C. and Parkin, M. (2010), Economics 6th edition, Pearson, Sydney.

McGraw-Hill, Sydney. Sloman, J. and Norris, K. (2008) Principles of Economics, 2nd edition, Pearson, Sydney

The course makes extensive use of MyUni for the posting of lecture notes, lecture recordings, tutorial exercises, assignments, and important announcements. It is expected that all students will regularly check the MyUni course website, and regularly check their university email accounts.

• https://myuni.adelaide.edu.au/webapps/login/
  
• http://www.adelaide.edu.au/its/webmail/
  

This course is comprised of a lecture component and a tutorial component. The lecture covers the key concepts of a particular topic to complement the text. Tutorials will consolidate your understanding of course material by working through problems similar to those in the text and expand your understanding of course material through group discussion on current issues related to the topic.

The standard coursework workload for a full-time student is 48 hours per week which equates to 12 hours per week for a 3 unit course over a standard teaching semester.  Note that this course is delivered intensively during the summer semester, and this means that workload for this course is 24 hours per week.

Lectures and Workshops
The lectures and workshops are designed to provide the framework on which students can build their knowledge and understanding of the key concepts and economic principles. The organisation of the course parallels the text, and consequently each lecture will explain the key concept covered in the corresponding chapter of the text.

Tutorials
Tutorials are an important component of your learning in this course. The communication skills developed in tutorials by regularly and actively participating in discussions are considered to be most important by the School and are highly regarded by employers and professional bodies. The tutorials require students to analyse the ideas covered in lectures and then apply them to specific contemporary economic issues.

Mid-Semester Test
The test is designed to provide feedback to students on their recall, analysis, and evaluation skills in economics. This will be conducted at the beginning of the lecture in Week 3.

Weekly Online Test
The test is designed to provide weekly feedback to students on their recall, analysis, and evaluation skills in economics. This will be conducted every weekend starting in Week 1.

There are no specific course requirements for this course. You are however advised to make the best use of the teaching and learning environment provided by the School of Economics and attend all lectures and tutorials and to maintain regular contact with your lecturer and tutors.

Mid-semester test	20%
Weekly online test	5%
Class presentation	15%
Final Exam	60%

Legible hand-writing and the quality of English expression are considered to be integral parts of the assessment process. Marks cannot be awarded for students’ work if the markers are unable to read it because of poor handwriting.

Assessment includes a mid-semester test, weekly online test, class presentation, and a final exam.

Mid-semester Test 20%
The test will be conducted at the beginning of lecture in week three. The test will consist of 20 multiple choice questions. If students cannot take the mid-semester test due to medical reasons, compassionate grounds, or any other grounds that the Course Coordinator considers to be reasonable, a make-up test will be arranged.

Weekly Online Test 5%
The weekly quizzes will be conducted online through MyUni every week from week 2. Each quiz will be available for one week from 5.00pm Friday to 4.00pm the following Friday. The quizzes will consist of 5 multiple choice questions.


Class Presentation 15%
Starting in week two, each student will be invited to give a presentation to the class and submit their PowerPoint slides to the tutor. The presentation schedule will be assigned during the first tutorial. The newspaper articles that you will analyse are available on MyUni. The presentation must not be longer than 15 minutes. If students are unable to present on the date and time agreed with their tutor due to medical reasons, compassionate grounds or any other grounds that the tutor considers to be reasonable, then student presentations will be either re-scheduled for later in the semester or during the Swot Vac week.

Final Exam 60%
The final exam is 3 hours plus 10 minutes reading time and may cover any of the topics from the chapters in the text book that have been set as part of the course. Advice relating to the time and venue of the final examination will be posted on Access Adelaide. It is your responsibility to determine the time and location of the final examination.

Please note that, following University policy, dictionaries are not allowed in School of Economics exams.

Assessment marks will be displayed on the course website prior to the final exam. Students are encouraged to check their marks and notify the lecturer of any discrepancies.