COMMERCE 7103 - Economics for Management (M)

North Terrace Campus - Trimester 3 - 2015

This course provides an introduction to economic thinking and its relevance and application to managing organisations. The first part of the course deals with the structure of markets, including perfect competition, monopoly and oligopoly, and the competitive regulatory environment. The second part deals with the determinants of the aggregate level of output and employment, and elements in the determination of macroeconomic policy including interest rates, inflation and foreign trade and capital flows. The focus of the course is on current issues and their implications for managers and competitive organisations.

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Course Details

Course Code	COMMERCE 7103
Course	Economics for Management (M)
Coordinating Unit	Adelaide Business School
Term	Trimester 3
Level	Postgraduate Coursework
Location/s	North Terrace Campus
Units	3
Contact	36
Available for Study Abroad and Exchange	Y

Course Staff

Course Coordinator: Mr David Murphy

Course Timetable

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

Course Learning Outcomes

By the time you complete the course you will have developed:
1. An understanding of the concepts, tools and language of Economics in order to gain an awareness of the role of Economics in society and to lay the foundation for continuing interest in Economics as an area of social importance and study.
2. An ability to work collaboratively with your peers to complete a Case Study and develop interpersonal skills and leadership qualities through group work.
3. An understanding of the nature and effect of Globalisation on the Australian economy and the responsibilities this confers at a Government, firm and individual level.
4. An understanding of the role of Government, firms and individuals in finding solutions to contemporary economic problems which will enhance the welfare and social well being of all members of the Australian population.
5. An ability to understand and articulate current economic conditions as they relate to the domestic economy and the economy of Australian’s trading parties, using appropriate trade and industry indicators, which leads to enhanced management decisions.
6. An understanding of current fiscal and monetary policies and how each will influence the direction of the Australian economy and its relation with trading partners.

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)
Knowledge and understanding of the content and techniques of a chosen discipline at advanced levels that are internationally recognised.	1 and 3
The ability to locate, analyse, evaluate and synthesise information from a wide variety of sources in a planned and timely manner.	3 and 5
An ability to apply effective, creative and innovative solutions, both independently and cooperatively, to current and future problems.	4 and 6
Skills of a high order in interpersonal understanding, teamwork and communication.	2
A proficiency in the appropriate use of contemporary technologies.	1
A commitment to continuous learning and the capacity to maintain intellectual curiosity throughout life.	1
A commitment to the highest standards of professional endeavour and the ability to take a leadership role in the community.	2 and 4
An awareness of ethical, social and cultural issues within a global context and their importance in the exercise of professional skills and responsibilities.	2 and 3

Learning Resources

Required Resources

The Recommended text for this subject is:

Hubbard. R.G; Garnett. A.M; Lewis. P; and O’Brien. A.P.: “Essentials of Economics, Second Edition 2013, Pearson Australia, Sydney.

Recommended Resources

Other useful texts:

Bajada. C; Jackson. J; McIver, R. and Wilson. E.: “Economic Principles”, Third Edition 2012, McGraw-Hill, Irwin; Sydney.

Krugman. P.; Wells. R.; and Graddy. K.; “Economics”, European Edition 2008, Worth, New York.

Online Learning

A comprihensive list of online resources is provided for students in the Course Outline as attached on MyUni.
Learning & Teaching Activities

Learning & Teaching Modes

No information currently available.

Workload

No information currently available.

Learning Activities Summary

No information currently available.

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 Summary

No information currently available.

Assessment Detail

No information currently available.

Submission

No information currently available.

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.

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
This section contains links to relevant assessment-related policies and guidelines - all university policies.
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.

Authorised by:	Deputy Vice-Chancellor and Vice-President (Academic)
Maintained by:	Course Outlines Administrator