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

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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://students.mq.edu.au/important-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 Learning Skills Unit 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://staff.mq.edu.au/work/strategy-planning-and-governance/university-policies-and-procedures/policy-central). Students should be aware of the following policies in particular with regard to Learning and Teaching:

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.

If you would like to see all the policies relevant to Learning and Teaching visit Policy Central (https://staff.mq.edu.au/work/strategy-planning-and-governance/university-policies-and-procedures/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/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 Enquiry Service

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

Equity 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.

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.