ECON 7200 - Economic Principles (M)
North Terrace Campus - Trimester 3 - 2019
General Course Information
Course Code ECON 7200 Course Economic Principles (M) Coordinating Unit School of Economics Term Trimester 3 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 Mark Dodd
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 ModesClasses for this trimester are scheduled once every two weeks. Each week we will go through two topics. One topic in the first 3-hour session before lunch, and a second topic in the 3-hour session after lunch.
Each timetabled class session will be divided into a number of different activities. The general structure (subject to change as necessary) will be as follows. A 'lecture' will be given on this topic. This lecture component will be followed by a tutorial style component, where we will go through some exercises together as a class.
The information below is provided as a guide to assist students in engaging appropriately with the course requirements.The University expects full-time students to devote a total of 48 hours per week to their studies. This translates to 12 hours per week for a 12-week course. As we only have classes every second week, how this works out for you may depend on how much you smooth out the preparation and assessment tasks throughoout your weeks. If you only work on this course in the weeks with classes, it would work out to be 24 hours for each of those 6 weeks, but you are likely better off spending about 12 hours per week in all weeks including those without classes.
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.
Class Topic ESPP Text Reading 1 Capitalism: affluence, inequality, and the environment Chapter 1 Social interactions and economic outcomes Chapter 2 2 Public policy for fairness and efficiency Chapter 3 Work, wellbeing, and scarcity Chapter 4 3 Institutions, power, and inequality Chapter 5 The firm: Employees, managers, and owners Chapter 6 4 Firms and markets for goods and services Chapter 7 The labour market: Wages, profits, and unemployment Chapter 8 5 The credit market: Borrowers, lenders, and the rate of interest Chapter 9 Banks, money, housing, and financial assets Chapter 10 6 Market failures and government policy Chapter 11 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 Assignments Bi-Weekly 30% Various 1,2,3,4,5,6 Participation Bi-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 DetailAssignments 30%
Assignments will be due regularly following each week of classes, 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. 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 further instructions regarding submission.
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.
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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