ECON 7239NA - Economics for Management
Ngee Ann Academy - Quadmester 4 - 2023
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General Course Information
Course Details
Course Code ECON 7239NA Course Economics for Management Coordinating Unit Economics Term Quadmester 4 Level Postgraduate Coursework Location/s Ngee Ann Academy Units 3 Contact Intensive Available for Study Abroad and Exchange N Incompatible ECON 7200 Restrictions Available only to MBA & GDipBA students Assessment Typically, assignments, tests & final exam Course Staff
No information currently available.
Course Timetable
The full timetable of all activities for this course can be accessed from Course Planner.
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Learning Outcomes
Course Learning Outcomes
Economics is divided into two streams: microeconomics and macroeconomics. Microeconomics focuses on the behaviours and interactions of economic agents, such as firms, households, and individuals. Macroeconomics looks, firstly, at the economy as a whole, especially the behaviours of aggregate measures, such as gross domestic product (GDP); measures of economic welfare; the quantity of capital, labour, and material and energy resources used; the quantity and nature of the wastes generated; the unemployment rate; the inflation rate; exchange rates; and interest rates. Secondly, macroeconomics considers how these aggregate measures vary with the business cycle and respond to government policies, ecological disturbances, institutional changes, international trading arrangements, and society’s values and individual behavioural patterns.
The course provides an overview of both microeconomics and macroeconomics. Throughout the course, we will consider contemporary economic issues through the lens of real-world economics and their relevance to strategic decision-making, organisational management, and economic, social, and environmental policy-setting.
On successful completion of this course, students will be able to:
1 Understand key economic concepts, principles, and analytical tools, as well as the ‘language’ and ways of thinking employed by real-world economists 2 Apply key microeconomic and macroeconomic principles and analytical tools to make better managerial decisions and communicate solutions convincingly to both economists and non-economists 3 Understand economic policy issues and their relevance to management decisions 4 Articulate economic conditions and policy issues and why they are relevant to management 5 Understand the roles that governments and markets can play in improving the welfare of our society 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) Attribute 1: Deep discipline knowledge and intellectual breadth
Graduates have comprehensive knowledge and understanding of their subject area, the ability to engage with different traditions of thought, and the ability to apply their knowledge in practice including in multi-disciplinary or multi-professional contexts.
1,2,3,5 Attribute 2: Creative and critical thinking, and problem solving
Graduates are effective problems-solvers, able to apply critical, creative and evidence-based thinking to conceive innovative responses to future challenges.
1,2,3,5 Attribute 3: Teamwork and communication skills
Graduates convey ideas and information effectively to a range of audiences for a variety of purposes and contribute in a positive and collaborative manner to achieving common goals.
1,2,4,5 Attribute 4: Professionalism and leadership readiness
Graduates engage in professional behaviour and have the potential to be entrepreneurial and take leadership roles in their chosen occupations or careers and communities.
1-5 Attribute 5: Intercultural and ethical competency
Graduates are responsible and effective global citizens whose personal values and practices are consistent with their roles as responsible members of society.
5 Attribute 7: Digital capabilities
Graduates are well prepared for living, learning and working in a digital society.
1-5 Attribute 8: Self-awareness and emotional intelligence
Graduates are self-aware and reflective; they are flexible and resilient and have the capacity to accept and give constructive feedback; they act with integrity and take responsibility for their actions.
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Learning Resources
Required Resources
Hubbard. R.G; Garnett. A.M; Lewis. P; and O’Brien. A.P.: “Essentials of Economics", Fourth Edition 2018, Pearson Australia, Sydney.
Paperback ISBN: 9781488616983
eBook ISBN: 9781488620225Recommended Resources
In addition to the assigned readings from the prescribed text, you may find it useful to access information from other sources. A number of introductory economics texts have been written over the past decades. Some of these books are held in the Ngee-Ann library. Please feel free to browse through the available books for alternative explanations of the relevant concepts.
It is also recommended that you read relevant articles published in the business section of major newspapers (such as “The Straits Times”) or business magazines (such as “The Economist”) regularly. This may help you to better appreciate the link between economic theory and its application to real life.
Economic data and commentary pertaining to Singapore can be viewed from http://www.singstat.gov.sg and http://www.mas.gov.sg .
Economic data and commentary pertaining to Australia is available at http://www.abs.gov.au and https://www.rba.gov.au/ .
Other useful pages on the World Wide Web are as follows:
Economist.com
www.economist.com
International Monetary Fund
www.imf.org
Organisation for Economic Co-operation and Development
www.oecd.org
The World Bank
www.worldbank.orgOnline Learning
This 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 or re-direct them to an account that they regularly check.
Further details about the online delivery of this course can be found on MyUni. -
Learning & Teaching Activities
Learning & Teaching Modes
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Workload
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Learning Activities Summary
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Assessment
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
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Submission
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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.
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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.
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Student Support
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Policies & Guidelines
This section contains links to relevant assessment-related policies and guidelines - all university policies.
- Academic Credit Arrangements Policy
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- Modified Arrangements for Coursework Assessment Policy
- Reasonable Adjustments to Learning, Teaching & Assessment for Students with a Disability Policy
- Student Experience of Learning and Teaching Policy
- Student Grievance Resolution Process
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