Students
ECON6049 – Economic Analysis
2021 – Session 2, Special circumstances
Session 2 Learning and Teaching Update
The decision has been made to conduct study online for the remainder of Session 2 for all units WITHOUT mandatory on-campus learning activities. Exams for Session 2 will also be online where possible to do so.
This is due to the extension of the lockdown orders and to provide certainty around arrangements for the remainder of Session 2. We hope to return to campus beyond Session 2 as soon as it is safe and appropriate to do so.
Some classes/teaching activities cannot be moved online and must be taught on campus. You should already know if you are in one of these classes/teaching activities and your unit convenor will provide you with more information via iLearn. If you want to confirm, see the list of units with mandatory on-campus classes/teaching activities.
Visit the MQ COVID-19 information page for more detail.
General Information
Download as PDF
| Unit convenor and teaching staff |
Unit convenor and teaching staff
Marjan Nazifi
|
|---|---|
| Credit points |
Credit points
10
|
| Prerequisites |
Prerequisites
Admission to MAccg or MAccLead or MAppEcon or MBkgFin or MIntBus or MProfAcc or MProfAccgLead
|
| Corequisites |
Corequisites
|
| Co-badged status |
Co-badged status
|
| Unit description |
Unit description
This unit provides an introduction to modern economic analysis. The first half of the unit deals with the theory and application of microeconomics, where individual decision making units and their interactions are examined. The second half is devoted to macroeconomics, which examines the problems associated with inflation, unemployment and the business cycle in the context of the Australian economy. |
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:
- ULO1: Analyse business issues using key microeconomic and macroeconomic concepts.
- ULO2: Evaluate and apply appropriate diagrammatic representations of economic concepts and models.
- ULO3: Identify and distinguish between the different market structures in an economy.
- ULO4: Apply statistical analysis to evaluate the role of the government and the central bank and the instruments available to them to manage the economy.
- ULO5: Appraise and suggest policy using relevant macroeconomic and microeconomic concepts and models to deal with real-world economic problems.
General Assessment Information
No extensions will be granted for the assessment tasks. For the final exam, students failing to submit their work during their allotted time will receive a mark of zero. For assignments, there will be a deduction of 10% of the total available marks made from the total awarded mark for each 24 hour period or part thereof that the submission is late ( up to 48 hours, for example, 25 hours late in submission – 20% penalty, and 49 hours late in submission a mark of zero). This penalty does not apply to cases in which an application for special considerations is made and approved. Students who have plagiarised will be awarded a mark of zero, will not be permitted to resubmit, and may be reported to the University Disciplinary Committee for further action.
Assessment Tasks
| Name | Weighting | Hurdle | Due |
|---|---|---|---|
| Assignments | 40% | No | Weeks 6 and 10 |
| Final online examination | 60% | No | Examination Period |
Assignments
Assessment Type 1: Report
Indicative Time on Task 2: 25 hours
Due: Weeks 6 and 10
Weighting: 40%
Economic theory and application will be analysed in two written submissions. Length will be of up to 1,500 words per submission.
On successful completion you will be able to:
- Analyse business issues using key microeconomic and macroeconomic concepts.
- Evaluate and apply appropriate diagrammatic representations of economic concepts and models.
- Identify and distinguish between the different market structures in an economy.
- Apply statistical analysis to evaluate the role of the government and the central bank and the instruments available to them to manage the economy.
- Appraise and suggest policy using relevant macroeconomic and microeconomic concepts and models to deal with real-world economic problems.
Final online examination
Assessment Type 1: Examination
Indicative Time on Task 2: 35 hours
Due: Examination Period
Weighting: 60%
A two-hour open book examination will be held during the University Examination Period
On successful completion you will be able to:
- Evaluate and apply appropriate diagrammatic representations of economic concepts and models.
- Identify and distinguish between the different market structures in an economy.
- Apply statistical analysis to evaluate the role of the government and the central bank and the instruments available to them to manage the economy.
- Appraise and suggest policy using relevant macroeconomic and microeconomic concepts and models to deal with real-world economic problems.
1 If you need help with your assignment, please contact:
- the academic teaching staff in your unit for guidance in understanding or completing this type of assessment
- the Writing Centre for academic skills support.
2 Indicative time-on-task is an estimate of the time required for completion of the assessment task and is subject to individual variation
Delivery and Resources
Classes
• Each student must listen to the lectures and read the lecture slides each week that are available on the unit iLearn web page.
• Each student is required to participate in a weekly tutorial session to discuss and work on the worksheet associated with weekly lectures.
Textbook
• The textbook for this course can be found at the following: http://www.core-econ.org/
• You will need to register using your student email to access the textbook.
• The electronic version of the textbook is free. You can choose to purchase a hard copy of the textbook from the website.
Technology
• Students will require a non-programmable calculator. A calculator is non-programmable if it does not have any memory, or if it is capable of storing only numerical data within its memory.
• Students will also require access to a computer to view the iLearn website, to use Zoom for any online learning activities and to access the ebook that forms the textbook for the course.
Unit Page
Course material is available at https://ilearn.mq.edu.au/login/MQ/
Unit Schedule
PART A: MICROECONOMIC
Topic 1: The capitalist Revolution
Topic 2: The Technological Revolution(s) and Economic Models
Topic 3: Scarcity, Work and Choice
Topic 4: The Firm: Owners, Managers & Employees
Topic 5: The Firm and Its Customers
Topic 6: Supply and Demand: Price Taking and Competitive Markets
PART B: MACROECONOMICS
Topic 1: Banks and Money
Topic 2: Economic Fluctuations and Unemployment
Topic 3: Unemployment, Fiscal and Monetary Policy
Topic 4: Inflation
Topic 5: Economic Inequality
More information about the specifics of the topics and the associated readings will be provided each week.
Policies and Procedures
Macquarie University policies and procedures are accessible from Policy Central (https://policies.mq.edu.au). Students should be aware of the following policies in particular with regard to Learning and Teaching:
- Academic Appeals Policy
- Academic Integrity Policy
- Academic Progression Policy
- Assessment Policy
- Fitness to Practice Procedure
- Grade Appeal Policy
- Complaint Management Procedure for Students and Members of the Public
- Special Consideration Policy
Students seeking more policy resources can visit Student Policies (https://students.mq.edu.au/support/study/policies). It is your one-stop-shop for the key policies you need to know about throughout your undergraduate student journey.
To find other policies relating to Teaching and Learning, visit Policy Central (https://policies.mq.edu.au) and use the search tool.
Student Code of Conduct
Macquarie University students have a responsibility to be familiar with the Student Code of Conduct: https://students.mq.edu.au/admin/other-resources/student-conduct
Results
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
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 help you improve your marks and take control of your study.
The Library provides online and face to face support to help you find and use relevant information resources.
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
If you are a Global MBA student contact globalmba.support@mq.edu.au
IT Help
For help with University computer systems and technology, visit http://www.mq.edu.au/about_us/offices_and_units/information_technology/help/.
When using the University's IT, you must adhere to the Acceptable Use of IT Resources Policy. The policy applies to all who connect to the MQ network including students.
Unit information based on version 2021.02 of the Handbook