ECON 7200OL - Economic Principles (M)

Online - Trimester 2 - 2019

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.

  • General Course Information
    Course Details
    Course Code ECON 7200OL
    Course Economic Principles (M)
    Coordinating Unit School of Economics
    Term Trimester 2
    Level Postgraduate Coursework
    Location/s Online
    Units 3
    Available for Study Abroad and Exchange N
    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 Staff

    Course Coordinator: Dr Mark Dodd

    Course Timetable

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

    Due to the fact that this is an online course, the standard timetabling information will not give an accurate view of the time requirements of the course. Please refer to detailed information available on the course MyUni page after you have enrolled for important details of when work is expected in this course. Please note that students are expected to work on this course on a weekly basis, and the course activities and assessments are organised on that basis.
  • Learning Outcomes
    Course Learning Outcomes

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

    1. Demonstrate a solid understanding of the core concepts and tools of economics.
    2. Relate basic economic theory and principles to current economic issues and evaluate related public economic policies.
    3. Apply economic principles and reasoning to solving business problems.
    4. Interpret charts, graphs, and tables and use the information to make informed judgments.
    5. Communicate their knowledge and understanding of economic issues using written, verbal and visual expression.
    6. 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
    2,3
  • Learning Resources
    Required Resources

    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 Learning
    This is an online course, so the course content, engagement with staff and classmates, and the assessment all occur through the online course website. Students are expected to regularly interact with the online resources, and also to regularly check their student email accounts.
  • Learning & Teaching Activities
    Learning & Teaching Modes
    This course is structured around weekly engagement. Although you do not have in-person classes for this online course, it is important that you set aside time regularly each week to study the assigned content and attempt the required engagement tasks, including those that are required for your assessment grades, and those that are assigned to support your learning.
    Workload

    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 at least 156 hours to their studies over the duration of a 3-unit course. Students should ensure that they devote an appropriate number of hours to this course each week on a regular basis.
    Learning Activities Summary

    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 (Part 1) Chapter 7
    8 Firms and markets for goods and services (Part 2) Chapter 7
    9 The labour market: Wages, profits, and unemployment Chapter 8
    10 The credit market: Borrowers, lenders, and the rate of interest Chapter 9
    11 Banks, money, housing, and financial assets Chapter 10
    12 Market failures and government policy Chapter 11
  • 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
    Quizzes

    Sunday each week (x12)

    30% 1,2,4
    Discussion Participation Sunday each week (x12) 10% 2,3,5,6
    Assignment 1 30th June 20% 1,2,3,4,5,6
    Assignment 2 28th July 20% 1,2,3,4,5,6
    Assignment 3 25th August 20% 1,2,3,4,5,6
    Total 100%
    Assessment Detail
    Refer to further detailed information on the course website.
    Submission
    Refer to further detailed information on the course website.
    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.

    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.

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

  • 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.