Coronavirus (COVID-19) Update
Due to the Coronavirus (COVID-19) pandemic, any references to assessment tasks and on-campus delivery may no longer be up-to-date on this page.
Students should consult iLearn for revised unit information.
Find out more about the Coronavirus (COVID-19) and potential impacts on staff and students
Unit convenor and teaching staff |
Unit convenor and teaching staff
Unit Convenor
Paul Crosby
Contact via email
Lecturer
Wylie Bradford
Contact via email
Lecturer
David Orsmond
Contact via email
Head Tutor
Dylan Thompson
Contact via email
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Credit points |
Credit points
10
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Prerequisites |
Prerequisites
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Corequisites |
Corequisites
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Co-badged status |
Co-badged status
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Unit description |
Unit description
This unit provides an introduction to the main ideas and concepts involved in modern economics, and attempts to provide students with an understanding of how the economy works, what type of problems economists attempt to solve, and how they set about trying to solve them. The unit is primarily concerned with the analysis of individual decision-making agents, the behaviour of firms and industries in the economy (microeconomics), and on the economy as a whole (macroeconomics). Topics can include: consumer choice and demand analysis, the firm and its production and costs, market structures and performance, monetary policy, unemployment and fiscal policy. |
Information about important academic dates including deadlines for withdrawing from units are available at https://www.mq.edu.au/study/calendar-of-dates
On successful completion of this unit, you will be able to:
Coronavirus (COVID-19) Update
Assessment details are no longer provided here as a result of changes due to the Coronavirus (COVID-19) pandemic.
Students should consult iLearn for revised unit information.
Find out more about the Coronavirus (COVID-19) and potential impacts on staff and students
No extensions on within-session assessment tasks or the final examination will be granted. Students who have not submitted the task prior to the due date will be awarded a mark of 0 for the task, except for cases in which a formal application for Special Consideration is made (via http://www.ask.mq.edu.au/) and approved.
Coronavirus (COVID-19) Update
Any references to on-campus delivery below may no longer be relevant due to COVID-19.
Please check here for updated delivery information: https://ask.mq.edu.au/account/pub/display/unit_status
Prescribed textbook:
Students will need to consult this textbook:
This text is produced by the CORE ECON team, and is available free online at https://www.core-econ.org/project/core-the-economy/. You will need to register on the site as a student. It is possible to obtain hard copies if desired.
Note that the CORE ECON project site contains significant additional resources that you should aim to make use of in aiding your learning.
Additional References (in alphabetical order):
Apart from the textbook above, students may find the following resources useful as well. Most reputable microeconomics textbooks cover the same economic theories, but perhaps you may want to refer to supplementary chapters from these texts for topics that you need extra help on. Note that the CORE ECON approach can differ substantially from standard texts, so it will be necessary to consider alternatives judiciously:
Students interested in a very readable and non-technical account of where many of the economic ideas studied in this course come from are encouraged to consult:
Technology Used and Required
The unit uses the learning management system (iLearn) that can be accessed via iLearn.mq.edu.au.
The iLearn site is also used to post important notices. You should check this regularly. The iLearn web page has the facility to allow peer to peer discussion and also allows students to put questions to an Online-Tutor. The Online-Tutor will attempt to answer your questions in a timely manner.
Learning and Teaching Activities
This unit is taught as a mix of tutorials and lectures. The lectures are designed to provide the tools which can then be applied in tutorials.
Lectures – large group learning (2 hours for each topic)
Lectures are intended to provide an overview of the key concepts explored in the unit. Students are expected to read the relevant chapter(s) before each lecture. ECON1020 relies heavily on independent learning where students read the relevant chapter(s), revise lecture notes and prepare answers to the tutorial questions.
Tutorials – small group learning (1 hour for each topic)
Tutorials constitute a critical learning experience of this unit and students must attend. Group work is an essential part of this learning. In ECON1020 we emphasise peer-to-peer learning by working as a group through the exercises and learning from others. Your tutor's role is to help you understand the material. Ask your tutor for guidance on how to approach questions and problems. Brief tutorial solutions will be posted on iLearn after completion of all classes of each week.
PAL, Peer Assisted Learning (1 hour for each topic)
Revision of the material from both lectures and tutorials.
Coronavirus (COVID-19) Update
The unit schedule/topics and any references to on-campus delivery below may no longer be relevant due to COVID-19. Please consult iLearn for latest details, and check here for updated delivery information: https://ask.mq.edu.au/account/pub/display/unit_status
Lecture Topic | CORE Unit Number | Assessment Task Due | |
Week 1 | The capitalist revolution | 1 | |
Week 2 | Technology, population, and growth | 2 | |
Week 3 | Scarcity, work, and choice | 3 | |
Week 4 | Scarcity, work, and choice | 3 | |
Week 5 | Social interactions | 4 | Online quiz 1 (5%) |
Week 6 | Property and power: Mutual gains and conflict | 5 | |
Week 7 | The firm: Owners, managers, and employees | 6 | |
Week 8 | The firm and its customers | 7 | Assignment (30%) |
Week 9 | Supply and demand: Price-taking and competitive markets | 8 | |
Week 10 | Supply and demand: Price-taking and competitive markets | 8 | Online quiz 2 (5%) |
Week 11 | The labour market: Wages, profits, and unemployment | 9 | |
Week 12 | Economic inequality | 19 | |
Week 13 | Revision | ||
Exam Period | Final exam (50%) |
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Students seeking more policy resources can visit the Student Policy Gateway (https://students.mq.edu.au/support/study/student-policy-gateway). It is your one-stop-shop for the key policies you need to know about throughout your undergraduate student journey.
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Results published on platform other than eStudent, (eg. iLearn, Coursera etc.) or released directly by your Unit Convenor, are not confirmed as they are subject to final approval by the University. Once approved, final results will be sent to your student email address and will be made available in eStudent. For more information visit ask.mq.edu.au or if you are a Global MBA student contact globalmba.support@mq.edu.au
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Learning Skills (mq.edu.au/learningskills) provides academic writing resources and study strategies to help you improve your marks and take control of your study.
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Date | Description |
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21/02/2020 | Changed ECON111 to ECON1020 |
17/02/2020 | Fix two typos in the 'Delivery and Resources' section. |