Students

ECON6049 – Economic Analysis

2023 – Session 2, Online-scheduled-In person assessment

General Information

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Unit convenor and teaching staff Unit convenor and teaching staff
Evan Matthews
evan.matthews@mq.edu.au
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.

Assessment Tasks

Name Weighting Hurdle Due
Online Quizzes 20% No Week 4 and Week 11
Participation task 20% No Every week starting Week 2
Assignment 20% No Week 9
Final examination 40% No University's formal examination period.

Online Quizzes

Assessment Type 1: Quiz/Test
Indicative Time on Task 2: 10 hours
Due: Week 4 and Week 11
Weighting: 20%

 

Two quizzes (worth 10% each) during unit

 
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.

Participation task

Assessment Type 1: Participatory task
Indicative Time on Task 2: 10 hours
Due: Every week starting Week 2
Weighting: 20%

 

Students answer questions in a group tutorial setting

 
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.

Assignment

Assessment Type 1: Report
Indicative Time on Task 2: 10 hours
Due: Week 9
Weighting: 20%

 

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 examination

Assessment Type 1: Examination
Indicative Time on Task 2: 30 hours
Due: University's formal examination period.
Weighting: 40%

 

A two-hour 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

Please see iLearn for further details.

Unit Schedule

Week 1: The Capitalist Revolution

Week 2: Technological Change and Growth

Week 3: Scarcity, Work and Choice

Week 4: The Firm and its Customers

Week 5: Supply and Demand - Part I

Week 6: Supply and Demand - Part II

Week 7: Banks, Money and the Credit Market

Mid-semester Break

Week 8: Economic Fluctuations and unemployment

Week 9: Fiscal Policy - Part I

Week 10: Fiscal Policy - Part II

Week 11: Monetary Policy - Part I

Week 12: Monetary Policy - Part II

Week 13: REVISION

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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.

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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. 

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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 from Previous Offering

There are no changes from the previous offering.

Unit information based on version 2023.06 of the Handbook