Students

ECON1020 – Principles of Economics 1

2023 – Session 2, Online-scheduled-weekday

General Information

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Unit convenor and teaching staff Unit convenor and teaching staff Unit Convenor & Lecturer
Marjan Nazifi
fatemeh.nazifi@mq.edu.au
Contact via via email
4ER 429
See iLearn
Hong Xie
hong.xie@mq.edu.au
Credit points Credit points
10
Prerequisites Prerequisites
Corequisites Corequisites
Co-badged status Co-badged status
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, and labour markets and inequality.

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: Identify and describe the importance of economics in the appropriate management of contemporary economic issues.
  • ULO2: Analyse and explain how principles of economics are relevant in analysing and describing decision-making by individuals, businesses and government.
  • ULO3: Communicate solutions and apply theories and concepts to real life economic problems.
  • ULO4: Evaluate economic policy from broad ethical and equity perspectives.

General Assessment Information

Late Assessment Submission Penalty (written assessments) 

Unless a Special Consideration request has been submitted and approved, a 5% penalty (of the total possible mark) will be applied each day a written assessment is not submitted, up until the 7th day (including weekends). After the 7th day, a grade of ‘0’ will be awarded even if the assessment is submitted. Submission time for all written assessments is set at 11.55 pm. A 1-hour grace period is provided to students who experience a technical concern. 

For any late submissions of time-sensitive tasks, such as scheduled tests/exams, performance assessments/presentations, and/or scheduled practical assessments/labs, students need to submit an application for Special Consideration. 

Assessment Tasks

Name Weighting Hurdle Due
Tutorial participation 20% No Weekly
Quizzes 15% No Weeks 5 and 10
Assignment 25% No Week 8
Final examination 40% No The University Examination Period

Tutorial participation

Assessment Type 1: Participatory task
Indicative Time on Task 2: 13 hours
Due: Weekly
Weighting: 20%

 

Weekly tutorial participation is expected throughout the session.

 
On successful completion you will be able to:
  • Identify and describe the importance of economics in the appropriate management of contemporary economic issues.
  • Analyse and explain how principles of economics are relevant in analysing and describing decision-making by individuals, businesses and government.
  • Communicate solutions and apply theories and concepts to real life economic problems.

Quizzes

Assessment Type 1: Quiz/Test
Indicative Time on Task 2: 2 hours
Due: Weeks 5 and 10
Weighting: 15%

 

There will be two quizzes conducted throughout the session. The quizzes are of equal value.

 
On successful completion you will be able to:
  • Analyse and explain how principles of economics are relevant in analysing and describing decision-making by individuals, businesses and government.
  • Communicate solutions and apply theories and concepts to real life economic problems.

Assignment

Assessment Type 1: Problem set
Indicative Time on Task 2: 15 hours
Due: Week 8
Weighting: 25%

 

There will be one individual assignment to be completed during the session. The assignment will be in the form of written short and long answer questions.

 
On successful completion you will be able to:
  • Identify and describe the importance of economics in the appropriate management of contemporary economic issues.
  • Communicate solutions and apply theories and concepts to real life economic problems.
  • Evaluate economic policy from broad ethical and equity perspectives.

Final examination

Assessment Type 1: Examination
Indicative Time on Task 2: 33 hours
Due: The University Examination Period
Weighting: 40%

 

A two-hour examination, consisting of multiple-choice questions, short answer questions, or long answer questions, will be held during the University Examination Period.

 
On successful completion you will be able to:
  • Identify and describe the importance of economics in the appropriate management of contemporary economic issues.
  • Analyse and explain how principles of economics are relevant in analysing and describing decision-making by individuals, businesses and government.

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

See iLearn for details of unit delivery and resources.

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:

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

Academic Integrity

At Macquarie, we believe academic integrity – honesty, respect, trust, responsibility, fairness and courage – is at the core of learning, teaching and research. We recognise that meeting the expectations required to complete your assessments can be challenging. So, we offer you a range of resources and services to help you reach your potential, including free online writing and maths support, academic skills development and wellbeing consultations.

Student Support

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

The Writing Centre

The Writing Centre provides resources to develop your English language proficiency, academic writing, and communication skills.

The Library provides online and face to face support to help you find and use relevant information resources. 

Student Services and Support

Macquarie University offers a range of Student Support Services including:

Student Enquiries

Got a question? Ask us via AskMQ, or contact Service Connect.

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.

Changes since First Published

Date Description
11/07/2023 New TA will be announced via iLearn.
24/06/2023 I have tried to combine both in person and online unit guides but no in person was available.

Unit information based on version 2023.06 of the Handbook