Students

FPEC001 – Economics 1

2014 – MQC3 Day

General Information

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Unit convenor and teaching staff Unit convenor and teaching staff Lecturer in Charge
Marjan Nazifi
Contact via fatemeh.nazifi@mq.edu.au
City Campus & North Ryde
Contact lecturer
Tutor
Andrew Grinko
Contact via andrew.grinko@mqc.edu.au
City Campus
Contact Lecturer
Credit points Credit points
3
Prerequisites Prerequisites
Corequisites Corequisites
Co-badged status Co-badged status
Unit description Unit description
Economic decisions have a crucial influence on the quality of life experienced by individuals and countries throughout the world. The study of economics can help individuals, firms, institutions, governments and societies make choices that assist them to improve their quality of life. This unit has been designed to provide students with a foundational understanding of the economics in today’s modern society. Students will gain an understanding of foundational microeconomic principles as well as foundational macroeconomic principles. Microeconomic topics to be covered in the unit include: markets, demand and supply, price, elasticity, costs, revenues, profits, perfect competition and monopoly. Macroeconomic topics to be covered include: gross domestic product, the Keynesian Model – a short run model of the macro-economy, banking, money and interest rates.

Important Academic Dates

Information about important academic dates including deadlines for withdrawing from units are available at https://www.mq.edu.au/study/calendar-of-dates

Learning Outcomes

On successful completion of this unit, you will be able to:

  • Demonstrate an understanding of economic terms, concepts and relationships. Students will also be able to communicate economic information, ideas and issues in graphs, equations and prose.
  • Apply appropriate terminology, concepts and theories in contemporary and hypothetical economic and policy contexts.
  • Apply mathematical concepts in economic contexts.
  • Analyse the economic role of individuals, firms, institutions, governments and countries.
  • Describe, explain and evaluate the role and operation of markets and analyse how each market responds to changing economic circumstances.
  • Identify the nature and causes of economic problems and issues for individuals, firms, institutions and governments.
  • Work independently to achieve goals in set timelines.
  • Work in groups to achieve goals in set timelines.

General Assessment Information

Missed Assessments

The only exception to not sitting an in-class test or examination at the designated time or handing in an assessment on the due date is because of a serious or unavoidable disruption.

Students who miss a formal assessment held in class or a final examination due to a serious and unavoidable disruption which commenced after the start of the study period must lodge a Disruption to Studies Notification via ask.mq.edu.au within five (5) working days of the commencement of the disruption in order to apply for Special Consideration. The notification must be supported by appropriate evidence.

In submitting a Disruption to Studies Notification, a student is acknowledging that they may be required to undertake additional work. The time and date, deadline or format of any required extra assessable work as a result of a Disruption to Studies Notification is not negotiable. Further, in submitting a Disruption to Studies Notification, a student is agreeing to make themselves available so that they can complete any extra work as required.

Students will be advised of the outcome of their Disruption to Studies Application via ask.mq.edu.au.

Please refer to the Disruption to Studies Policy for further details.

Extensions & Late Submissions

To apply for an extension of time for submission of an assessment item, students must submit a notification of Disruptions to Studies via ask.mq.edu.au.

Grounds for extensions are usually serious illness, accident, disability, bereavement or other compassionate circumstances and must be substantiated with relevant evidence (e.g. professional authority form).

Late submissions without an approved extension will be penalised at a rate of 10% per day (weekend inclusive). This applies to assessments completed outside of class such as essays and assignments.

Final Examinations and Final Assessment Tasks

Final exams and final assessments typically take place in Week 13 and the first 3 days of week 14. Please note that you must pass the final exam or final assessment task in order to pass this unit.You are expected to present yourself for examination at the time and place designated in the Final Examination Timetable. Please note that no special consideration will be given to students who have booked flights out of the country prior to the conclusion of the examination period.

The Final Examination Timetable will be available in provisional form on the MQC Student Portal Noticeboard at https://student.mqc.edu.au/NoticeBoard.htm in approximately week 10 of this Session.  You will have 1 week to give feedback to the Student Administration Manager should you have concerns or note any clashes in your final exam timetable. From week 12, you will also be able to view your personal final exam timetable via the MQC Student Portal.

The examination timetable is produced to provide the maximum number of students with the least number of consecutive examinations. It is not uncommon for students of Macquarie University at both the City and North Ryde Campuses to be required to sit two consecutive examinations.  A maximum of three consecutive exams is also permitted (for example, two on one day, and one the following morning). However, no student is required to sit four consecutive exams and if any student discovers their examination timetable contains four consecutive exams, they should immediately contact the Student Administration Manager to have an exam rescheduled.

Prior to the examination period, you should ensure that you are familiar with the Examination Rules. You can find these under Exam Information on the MQC Student Portal Noticeboard. A breach in any of these rules will lead to disciplinary action being undertaken.

Students who miss a final exam or final assessment will be awarded a mark of 0 for the task and cannot pass the unit, except for cases where a Disruption to Studies Notification is lodged and a Special Consideration is awarded. Please note that in submitting a Disruption to Studies Notification, a student is acknowledging that they may be required to undertake additional work. The time and date, deadline or format of any required extra assessable work as a result of a Disruption to Studies Notification is not negotiable.

Supplementary Examinations

Supplementary final examinations are held during the scheduled Supplementary Final exam Period in the lead up to the subsequent teaching period.

Please note that results for supplementary exams may not be available until the conclusion of Week 2 of the subsequent teaching session and until supplementary results are released, continuing students may be prevented from enrolling in certain units in the subsequent teaching session.

Students in their final semester of study who undertake supplementary final exams should note that Formal Completion of the Foundation Program will not be possible until supplementary results are released and this may impact on their ability to enrol subsequent programs of study on time.

 Retention of Originals

It is the responsibility of the student to retain a copy of any work submitted and produce another copy of all work submitted if requested.  Copies should be retained until after the release of final results each Session.

In the event that a student is asked to produce another copy of work submitted and is unable to do so, they may be awarded zero (0) for that particular assessment task.

The University also reserves the right to request and retain the originals of any documentation/ evidence submitted to support notifications of disruptions to studies. Requests for original documentation will be sent to the applicant’s University email address within six (6) months of notification by the student. Students must retain all original documentation for the duration of this six (6) month period and must supply original documents to the University within ten (10) working days of such a request being made.

Turnitin

Students may be requested to submit assessments via Turnitin and in such instances any hard copies submitted without a Turnitin Report will not be marked.

Step by step guidance for Turnitin submissions can be found here. Should you experience any difficulties with Turnitin submission, please see a Lab Demonstrator in Lab 311 at MQC.

If you experience difficulties submitting through Turnitin on the due date, you must email your work in electronic format to your lecturer using the email address provided in the unit guide. Late submissions will be penalised at 10% per day.

Grading & Requirements to pass

This unit will use the following grading system:

  • S – Satisfactory (50-100)
  • F – Fail (0-49)

Grade descriptors and other information concerning grading are contained in the Macquarie University Grading Policy which is available at: http://www.mq.edu.au/policy/docs/grading/policy.html

To pass this unit, you must attempt all assessable components of the unit, pass the final exam and attain an overall mark of at least 50%. Failure to do so will result in an F (fail) grade being recorded.

Provision of Feedback

Marks awarded for assessment items will also be available on the MQC Student Portal within fourteen (14) days of the due date. Typically you will also be able to collect your submitted assignments in this same timeframe.

If you wish to receive further feedback from your instructor, you should contact them directly using the contact details provided in this guide.

Students may seek general feedback about their performance in a unit up to 6 months following results release.

Contacting Staff and Getting Help

Foundation students may approach teaching staff for one-on-one help in one of three ways:

  • During Consultation sessions. For details about consultation sessions and Consultation times, please refer to timetabled provided on the Macquarie City Campus Portal Noticeboard.
  • Using the "Questions for your instructor" dialogue provided in Week 0 of the respective unit in iLearn.
  • Using the instructor’s email address provided in the Unit Guide of the respective unit.

For all university related correspondence, students are required to use their official MQ student email account which may be accessed via the Macquarie University Student Portal. Enquiries from personal email accounts will not be replied to.

Assessment Tasks

Name Weighting Due
Test 1 15% Week 4
Assignment 20% Week 9
Test 2 15% Week 10
Participation 10% Ongoing
Final Exam 40% Examination Period

Test 1

Due: Week 4
Weighting: 15%

This test may contain a mixture of short answer and multiple choice questions. Further details about the content and format will be provided in class. 


On successful completion you will be able to:
  • Demonstrate an understanding of economic terms, concepts and relationships. Students will also be able to communicate economic information, ideas and issues in graphs, equations and prose.
  • Apply appropriate terminology, concepts and theories in contemporary and hypothetical economic and policy contexts.
  • Apply mathematical concepts in economic contexts.
  • Work independently to achieve goals in set timelines.

Assignment

Due: Week 9
Weighting: 20%

The assignment will consist of a presentation and a report. Students will be required to carry out research and answer pre-set questions on a given topic, and produce a short report  Individually or in a small group. They will then present their findings to the class.  Late submissions will be penalised at 10% per day.


On successful completion you will be able to:
  • Demonstrate an understanding of economic terms, concepts and relationships. Students will also be able to communicate economic information, ideas and issues in graphs, equations and prose.
  • Apply appropriate terminology, concepts and theories in contemporary and hypothetical economic and policy contexts.
  • Apply mathematical concepts in economic contexts.
  • Analyse the economic role of individuals, firms, institutions, governments and countries.
  • Describe, explain and evaluate the role and operation of markets and analyse how each market responds to changing economic circumstances.
  • Identify the nature and causes of economic problems and issues for individuals, firms, institutions and governments.
  • Work in groups to achieve goals in set timelines.

Test 2

Due: Week 10
Weighting: 15%

This test may contain a mixture of short answer and multiple choice questions. Further details about the content and format will be provided in class. 


On successful completion you will be able to:
  • Demonstrate an understanding of economic terms, concepts and relationships. Students will also be able to communicate economic information, ideas and issues in graphs, equations and prose.
  • Apply appropriate terminology, concepts and theories in contemporary and hypothetical economic and policy contexts.
  • Apply mathematical concepts in economic contexts.
  • Analyse the economic role of individuals, firms, institutions, governments and countries.
  • Describe, explain and evaluate the role and operation of markets and analyse how each market responds to changing economic circumstances.
  • Identify the nature and causes of economic problems and issues for individuals, firms, institutions and governments.
  • Work independently to achieve goals in set timelines.

Participation

Due: Ongoing
Weighting: 10%

Students will be assessed on participation in classes and activities throughout the semester. Participation will entail attendance, punctuality, contribution to class discussions, completion of set class and homework activities, asking and answering questions, and adhering to the MQC and Macquarie University Student Codes of Conduct. A comprehensive guide outlining Participation marking criteria will be provided on iLearn.


On successful completion you will be able to:
  • Analyse the economic role of individuals, firms, institutions, governments and countries.
  • Describe, explain and evaluate the role and operation of markets and analyse how each market responds to changing economic circumstances.
  • Identify the nature and causes of economic problems and issues for individuals, firms, institutions and governments.
  • Work in groups to achieve goals in set timelines.

Final Exam

Due: Examination Period
Weighting: 40%

The final exam will be 2 hours in duration and may contain a mixture of multiple choice, short answer and long answer questions. The final exam will be held during the final examination period in either Week 13 or 14 as per the final examination timetable. Please note that you must pass the final exam in order to pass this unit.


On successful completion you will be able to:
  • Demonstrate an understanding of economic terms, concepts and relationships. Students will also be able to communicate economic information, ideas and issues in graphs, equations and prose.
  • Apply appropriate terminology, concepts and theories in contemporary and hypothetical economic and policy contexts.
  • Apply mathematical concepts in economic contexts.
  • Analyse the economic role of individuals, firms, institutions, governments and countries.
  • Describe, explain and evaluate the role and operation of markets and analyse how each market responds to changing economic circumstances.
  • Identify the nature and causes of economic problems and issues for individuals, firms, institutions and governments.
  • Work independently to achieve goals in set timelines.

Delivery and Resources

Classes  

Weekly contact will be 5 hours consisting of a 2 hour lecture, a 2 hour tutorial and 1 hour consultation session.

During Lectures, new content will typically be presented and explained by the lecturer. During tutorials participants will have more opportunities to engage in discussion and activities.

In the one-hour consultation session, students will be given individual guidance and assistance with their assessment and homework tasks and assignments. This hour is also an opportunity for students to engage in independent research and reading related to the unit, complete additional tasks to extend their knowledge of the field or catch up on any work they have missed.

Attendance of all three sessions (lectures, tutorials and consultation sessions) is compulsory and students must attend at least one consultation session per week.

Timetables for lectures and tutorials as well as consultation sessions can be found on the Noticeboard on the City Campus Student Portal.

If any scheduled class falls on a public holiday a make-up lesson may be scheduled, usually on a Saturday. Where appropriate, the instructor may instead organise an online make-up lesson which would require students to access online learning materials and/or complete activities outside of class rather than attending a make-up lesson. Scheduled make-up days are noted in the Teaching Schedule and attendance is taken for both weekend and online make-up lessons.

Learning and Teaching Activities

This unit will encompass a mixture of theory and practical exercises. Students will be required to work independently as well as in small groups and engage in class discussions.

It is expected that all students purchase the prescribed text and read in advance to ensure that they are well prepared for the content covered in each lecture. It is also expected that students come to class equipped so that they can participate in and complete class work. Typically, several coloured pens and a ruler will be required.

iLearn will also be used to post lecture and tutorial materials and also communicate with students so it is expected that students will check this resource on a regular basis.

Other sources of material and media will also be utilised to both supplement and complement the course content. These have been outlined in the “Technology Used and Required” section below.

iLearn

iLearn is Macquarie's online learning management systems. The following unit specific information will be available on the website:

  • Announcements
  • Staff contact details
  • Lecture notes and recordings
  • Learning and teaching activities and resources
  • Assessment information
  • Tutorial questions and solutions
  • Assessment submission tools such as Turnitin
  • Other relevant material

Please note that you must enrol in a unit via eStudent in gain access to the unit in iLearn.

You are required to regularly check the website and use it as an information and resource centre to assist with your learning.

Ensure that when you have finished using the website, you log out. Failure to do so could allow unauthorised access to your account.

Please contact the IT helpdesk (Ph. 02 9850 4357) or lodge a ticket using OneHelp if you need assistance accessing iLearn

Required and Recommended Texts and Materials

Prescribed textbook(s):

  • Sloman and Garrat, Essentials of Economics, 5th Edition, Prentice Hall Financial Times, 2010, ISBN 9780273722519 
  • Alhashimi Study Guide to accompany Principles of Economics, 3rd Edition, Pearson, 2010, ISBN 978144253903

Please note that these two books can be bought as a package through the Co-Op Bookshop (ISBN: 9314994251173)

All prescribed textbooks will be made available to students to purchase at the Phillip Street Coop Bookshop. Students can view a full list of textbooks for all units on the Macquarie City Campus Student Portal Noticeboard at https://student.mqc.edu.au/NoticeBoard.htm.

Reference text available in the library:

  • Lewis, Garnett, Hawtrey, and Treadgold, The Australian Economy: Your Guide, 5e, Pearson, 2010.

Supplementary textbooks:

  • Jackson, McIver and Bajada, Economic Principles, 2e, McGraw Hill Irwin, 2007 ISBN 9780074717110
  • Layton, Robinson and Tucker, Economics for Today, 3e, Thompson, 2009, ISBN 9780170137089
  • Miller, Economics Today, 14e, Pearson, 2008. ISBN-13:  9780321447463
  • Dixon, Australia in the Global Economy, Leading Edge, 2010 ISBN: 9781442534957

Technology Used and Required

Students should be prepared to frequently utilise the campus’ computer and internet facilities both in class and outside of class. A personal computer and internet connection is desirable, but not necessary.

Technology used for this unit includes:

  • PowerPoint presentations of lectures and tutorials
  • Peer-to-peer discussions via iLearn
  • Feedback from the lecturer via iLearn
  • Summary videos on the campus network via the “Resources” Drive.
  • MyEconLab & Online Study Guide, which accompanies the textbook (to be explained in class)
  • EconLit Database (to be explained in class)
  • Homework projects using MS Word, MS Excel and MS PowerPoint
  • Government websites:

iLearn will be utilised to put up lecture slides and additional resources, so students should login to http://ilearn.mq.edu.au on a regular basis.

Unit Schedule

Week

Beginning:

Topic

Readings

Week 1

Mon 20 October

Topic I1: Introduction to Microeconomics

Textbook, Chapter 1

Study Guide, Chapter 1

Week 2

Mon 27 October

Topic I2: Demand and Supply

Textbook, Chapter 2

Study Guide, Chapter 2

Week 3

Mon 3 November

Topic I3: Costs

Textbook, Chapter 4

Study Guide, Chapter 4

Week 4

Mon 10 November

Topic I3: Costs

Test 1

Textbook, Chapter 4

Study Guide, Chapter 4

Week 5

Mon 17 November

Topic I3: Revenue and Profit

Textbook, Chapter 4

Study Guide, Chapter 5

Week 6

Mon 24 November

Topic 4: Perfect Competition

Textbook, Chapter 5

Study Guide, Chapter 6

Week 7

Mon 1 December

Topic I4: Monopoly

Textbook, Chapter 5

Study Guide, Chapter 6

Week 8

Mon 8 December

Topic A1: Introduction to Macroeconomics

Textbook, Chapter 8

Study Guide, Chapter 10

Week 9

Mon 15 December

Topic A2: Gross Domestic Product

 

Assignment

Textbook, Chapter 8

Study Guide, Chapter 11

Week 10

Mon 22 December

Topic A2: The Keynesian Model

Test 2

Textbook, Chapter 8

Study Guide, Chapter 11

Week 11

Mon 5 January

Topic A3: Banking and Money

Textbook, Chapter 10

Study Guide, Chapter 12

Week 12

Mon 12 January

Topic A3: Money Market

Complete LEU surveys in class

Textbook, Chapter 10

Study Guide, Chapter 12

Week 13

Mon 19 January

Revision & Final Exam

(Final Exams may be Held in Week 13 or 14, during the scheduled final exam period. Please refer to the Information Provided on the Portal Noticeboard). Please note that you must pass the final exam in order to pass this unit.

 

Other Important Dates

Public holidays & make-up days

New Year’s Day Make-up: Saturday 20 December

(Please note that online lessons may be organised in lieu of make-up day).

Session Break

Thursday 25 December 2014 – Thursday 1 January 2015 inclusive

Exam Period:

Monday 19 January 2015 – Wednesday 28 January 2015 (Sat & Sun excluded)

Please note all final exams will be held in the City Campus.

Results Release:

Session 3 2014 results are scheduled to be released to students via e-Student and MQC Student Portal

on Friday 13 February 2015

 

Policies and Procedures

Macquarie University policies and procedures are accessible from Policy Central. Students should be aware of the following policies in particular with regard to Learning and Teaching:

Academic Honesty Policy http://mq.edu.au/policy/docs/academic_honesty/policy.html

Assessment Policy  http://mq.edu.au/policy/docs/assessment/policy.html

Grading Policy http://mq.edu.au/policy/docs/grading/policy.html

Grade Appeal Policy http://mq.edu.au/policy/docs/gradeappeal/policy.html

Grievance Management Policy http://mq.edu.au/policy/docs/grievance_management/policy.html

Disruption to Studies Policy http://www.mq.edu.au/policy/docs/disruption_studies/policy.html The Disruption to Studies Policy is effective from March 3 2014 and replaces the Special Consideration Policy.

In addition, a number of other policies can be found in the Learning and Teaching Category of Policy Central.

Student Code of Conduct

Macquarie University students have a responsibility to be familiar with the Student Code of Conduct: https://students.mq.edu.au/support/student_conduct/

Academic Honesty

The nature of scholarly endeavour, dependent as it is on the work of others, binds all members of the University community to abide by the principles of academic honesty. Its fundamental principle is that all staff and students act with integrity in the creation, development, application and use of ideas and information. This means that:

  • all academic work claimed as original is the work of the author making the claim
  • all academic collaborations are acknowledged
  • academic work is not falsified in any way
  • when the ideas of others are used, these ideas are acknowledged appropriately.

Further information on the academic honesty and schedule of penalties that will apply to breaches please consult the  Academic Honesty Policy.

If you are unsure about how to incorporate scholarly sources into your own work, please speak to your Instructor or the Student Services team well in advance of your assessment. You may also enrol in StudyWise or visit the University's Library Webpage for more resources.

Final Examination Script Viewings and Grade Appeals

If, at the conclusion of the unit, you have performed below expectations, and are considering lodging an appeal of grade and/or viewing your final exam script please refer to http://www.city.mq.edu.au/new_and_current_students/appeals/ for information about associated cut off dates.

Please note that any requests to view exam papers must be booked in immediately following results release.

Before submitting a Grade Appeal, please ensure that you read the Grade Appeal Policy and noted valid grounds for appeals.

Attendance

Please refer to the Attendance Policy for Foundation Students.

A minimum level of 80% attendance is compulsory for all classes, including consultation sessions and any make-up classes scheduled on weekends. Attendance will be recorded in every lesson and note made of any lateness or period of absence from class.

Where a student is present for only for a minor portion of a lesson (for example arrives late, leaves early, leaves the class frequently or for lengthy periods, engages in inappropriate or unrelated activities or does not participate actively in the majority of the lesson) the instructor reserves the right to mark a student absent for that particular lesson and make note of such incidents.

Students should note that absenteeism (including partial absenteeism) not only has a negative impact on not only their overall attendance record and their academic progress, but could also have ramifications for their visas or eligibility for social benefits where relevant.

In cases of unavoidable non-attendance due to illness or circumstances beyond control, students are advised to lodge a Disruption to Studies Notification via ask.mq.edu.au even if they have not missed a formal assessment task so that appropriate records of the reasons for unavoidable attendance can be made on their record.

Course Progression

Macquarie City Campus monitors Foundation students' course progress. Please refer to the Course Progress Policy.

To maintain satisfactory program performance students are required to pass 50% or more of their enrolled units in each session.

Students who fail to make satisfactory course progress will be classified as "at risk" students and may have conditions placed upon their enrolment.

International students must comply with the Course Progress policy in order to meet the conditions of their visa.

Student Support

Macquarie University provides a range of support services for students. For details, visit http://students.mq.edu.au/support/

Learning Skills

Learning Skills (mq.edu.au/learningskills) provides academic writing resources and study strategies to improve your marks and take control of your study.

Student Support at Macquarie City Campus

Macquarie City Campus students who require assistance or support are encouraged to contact Student Services (studentadvisor@city.mq.edu.au) or make an appointment to see a student advisor at Reception on Level 2.

Macquarie University Campus Wellbeing services are also available at the City Campus. If you would like to make an appointment, please email info@city.mq.edu.au or visit their website at: http://www.campuslife.mq.edu.au/campuswellbeing.

 

Academic Support at Macquarie City Campus

Macquarie city campus provides free tutoring / support classes to its student. Support is available for Accounting, numeracy and essay and report writing, research presentation and referencing skills.

Students who are experiencing difficulties in these areas are advised to attend these classes on a drop-in basis. So that the tutor can assist best, students must bring the work (e.g. assignment draft, essay draft, homework problem) with which that they are having difficulties.

For further information about tutoring services, please refer to the City Campus Portal Noticeboard  under Timetables, Tutor Availability.

If you require additional support with university skills, you may also consider enrolling in UNIWISE. UNIWISE is an iLearn resource which provides:

  • Online learning resources and academic skills workshops
  • What is expected of you as a student at Macquarie University
  • Personal assistance with your learning & study related questions
  • Key strategies and tips that you can use to achieve successful learning both in and out of the classroom
  • The definitions and examples of the types of assignments you will encounter in your units

Additional study spaces are also available on Level 1.

Student Services and Support

Students with a disability are encouraged to contact the Disability Service who can provide appropriate help with any issues that arise during their studies.

Student Enquiries

For all student enquiries, visit Student Connect at ask.mq.edu.au

IT Help

For help with University computer systems and technology, visit http://informatics.mq.edu.au/help/

When using the University's IT, you must adhere to the Acceptable Use Policy. The policy applies to all who connect to the MQ network including students.

If you need IT support with any of the Macquarie University Systems please see http://informatics.mq.edu.au/help/, lodge a One Help ticket or call 02 9850-4357.

Students must use their Macquarie University email addresses to communicate with staff as it is University policy that the University issued email account is used for official University communication.

IT Help at Macquarie City Campus

A lab demonstrator is situated in Lab 311 and can help you with any usage of university systems or resetting your password.

You may also refer to the Online Systems Password Document which has been made available on the City Campus Student Portal Noticeboard.

Whilst utilising the City Campus IT facilities, students are expected to act responsibly. The following regulations apply to the use of computing facilities and online services:

  • Accessing inappropriate web sites or downloading inappropriate material is not permitted.
  • Material that is not related to coursework for approved unit is deemed inappropriate.
  • Downloading copyright material without permission from the copyright owner is illegal, and strictly prohibited. Students detected undertaking such activities will face disciplinary action, which may result in criminal proceedings.

Non-compliance with these conditions may result in disciplinary action without further notice.

Equipment available for loan

Students may borrow headphones for use in the Macquarie City Campus computer labs (210, 307, 311, 608) or a video recorder.

Please ask at Level 2 Reception for details. You will be required to provide your MQC Student ID card which  will be held as a deposit while using the equipment.

Graduate Capabilities

Capable of Professional and Personal Judgement and Initiative

We want our graduates to have emotional intelligence and sound interpersonal skills and to demonstrate discernment and common sense in their professional and personal judgement. They will exercise initiative as needed. They will be capable of risk assessment, and be able to handle ambiguity and complexity, enabling them to be adaptable in diverse and changing environments.

This graduate capability is supported by:

Learning outcomes

  • Apply appropriate terminology, concepts and theories in contemporary and hypothetical economic and policy contexts.
  • Apply mathematical concepts in economic contexts.
  • Analyse the economic role of individuals, firms, institutions, governments and countries.

Assessment tasks

  • Test 1
  • Assignment
  • Test 2
  • Participation
  • Final Exam

Commitment to Continuous Learning

Our graduates will have enquiring minds and a literate curiosity which will lead them to pursue knowledge for its own sake. They will continue to pursue learning in their careers and as they participate in the world. They will be capable of reflecting on their experiences and relationships with others and the environment, learning from them, and growing - personally, professionally and socially.

This graduate capability is supported by:

Learning outcomes

  • Work independently to achieve goals in set timelines.
  • Work in groups to achieve goals in set timelines.

Assessment tasks

  • Test 1
  • Assignment
  • Test 2
  • Participation
  • Final Exam

Discipline Specific Knowledge and Skills

Our graduates will take with them the intellectual development, depth and breadth of knowledge, scholarly understanding, and specific subject content in their chosen fields to make them competent and confident in their subject or profession. They will be able to demonstrate, where relevant, professional technical competence and meet professional standards. They will be able to articulate the structure of knowledge of their discipline, be able to adapt discipline-specific knowledge to novel situations, and be able to contribute from their discipline to inter-disciplinary solutions to problems.

This graduate capability is supported by:

Learning outcomes

  • Demonstrate an understanding of economic terms, concepts and relationships. Students will also be able to communicate economic information, ideas and issues in graphs, equations and prose.
  • Apply appropriate terminology, concepts and theories in contemporary and hypothetical economic and policy contexts.
  • Apply mathematical concepts in economic contexts.
  • Analyse the economic role of individuals, firms, institutions, governments and countries.
  • Describe, explain and evaluate the role and operation of markets and analyse how each market responds to changing economic circumstances.
  • Identify the nature and causes of economic problems and issues for individuals, firms, institutions and governments.

Assessment tasks

  • Test 1
  • Assignment
  • Test 2
  • Participation
  • Final Exam

Critical, Analytical and Integrative Thinking

We want our graduates to be capable of reasoning, questioning and analysing, and to integrate and synthesise learning and knowledge from a range of sources and environments; to be able to critique constraints, assumptions and limitations; to be able to think independently and systemically in relation to scholarly activity, in the workplace, and in the world. We want them to have a level of scientific and information technology literacy.

This graduate capability is supported by:

Learning outcomes

  • Demonstrate an understanding of economic terms, concepts and relationships. Students will also be able to communicate economic information, ideas and issues in graphs, equations and prose.
  • Apply appropriate terminology, concepts and theories in contemporary and hypothetical economic and policy contexts.
  • Apply mathematical concepts in economic contexts.
  • Analyse the economic role of individuals, firms, institutions, governments and countries.
  • Describe, explain and evaluate the role and operation of markets and analyse how each market responds to changing economic circumstances.
  • Identify the nature and causes of economic problems and issues for individuals, firms, institutions and governments.
  • Work independently to achieve goals in set timelines.
  • Work in groups to achieve goals in set timelines.

Assessment tasks

  • Test 1
  • Assignment
  • Test 2
  • Participation
  • Final Exam

Problem Solving and Research Capability

Our graduates should be capable of researching; of analysing, and interpreting and assessing data and information in various forms; of drawing connections across fields of knowledge; and they should be able to relate their knowledge to complex situations at work or in the world, in order to diagnose and solve problems. We want them to have the confidence to take the initiative in doing so, within an awareness of their own limitations.

This graduate capability is supported by:

Learning outcomes

  • Demonstrate an understanding of economic terms, concepts and relationships. Students will also be able to communicate economic information, ideas and issues in graphs, equations and prose.
  • Apply appropriate terminology, concepts and theories in contemporary and hypothetical economic and policy contexts.
  • Apply mathematical concepts in economic contexts.
  • Analyse the economic role of individuals, firms, institutions, governments and countries.
  • Describe, explain and evaluate the role and operation of markets and analyse how each market responds to changing economic circumstances.
  • Identify the nature and causes of economic problems and issues for individuals, firms, institutions and governments.
  • Work independently to achieve goals in set timelines.
  • Work in groups to achieve goals in set timelines.

Assessment tasks

  • Test 1
  • Assignment
  • Test 2
  • Participation
  • Final Exam

Effective Communication

We want to develop in our students the ability to communicate and convey their views in forms effective with different audiences. We want our graduates to take with them the capability to read, listen, question, gather and evaluate information resources in a variety of formats, assess, write clearly, speak effectively, and to use visual communication and communication technologies as appropriate.

This graduate capability is supported by:

Learning outcomes

  • Demonstrate an understanding of economic terms, concepts and relationships. Students will also be able to communicate economic information, ideas and issues in graphs, equations and prose.
  • Apply appropriate terminology, concepts and theories in contemporary and hypothetical economic and policy contexts.
  • Analyse the economic role of individuals, firms, institutions, governments and countries.
  • Describe, explain and evaluate the role and operation of markets and analyse how each market responds to changing economic circumstances.
  • Identify the nature and causes of economic problems and issues for individuals, firms, institutions and governments.
  • Work in groups to achieve goals in set timelines.

Assessment tasks

  • Test 1
  • Assignment
  • Test 2
  • Participation
  • Final Exam

Engaged and Ethical Local and Global citizens

As local citizens our graduates will be aware of indigenous perspectives and of the nation's historical context. They will be engaged with the challenges of contemporary society and with knowledge and ideas. We want our graduates to have respect for diversity, to be open-minded, sensitive to others and inclusive, and to be open to other cultures and perspectives: they should have a level of cultural literacy. Our graduates should be aware of disadvantage and social justice, and be willing to participate to help create a wiser and better society.

This graduate capability is supported by:

Learning outcomes

  • Demonstrate an understanding of economic terms, concepts and relationships. Students will also be able to communicate economic information, ideas and issues in graphs, equations and prose.
  • Analyse the economic role of individuals, firms, institutions, governments and countries.
  • Describe, explain and evaluate the role and operation of markets and analyse how each market responds to changing economic circumstances.
  • Identify the nature and causes of economic problems and issues for individuals, firms, institutions and governments.
  • Work in groups to achieve goals in set timelines.

Assessment tasks

  • Test 1
  • Assignment
  • Test 2
  • Participation
  • Final Exam

Changes since First Published

Date Description
28/10/2014 To pass this unit, you must attempt all assessable components of the unit, pass the final exam and attain an overall mark of at least 50%. Failure to do so will result in an F (fail) grade being recorded.