Unit convenor and teaching staff |
Unit convenor and teaching staff
Unit Convenor
Edwin Franks
Pundarik Mukhopadhaya
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Credit points |
Credit points
4
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Prerequisites |
Prerequisites
Admission to MActPrac
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Corequisites |
Corequisites
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Co-badged status |
Co-badged status
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Unit description |
Unit description
The aim of this unit is to provide a postgraduate-level foundation in modern economic analysis, with applications to decision making in business, for postgraduate actuarial students. The unit provides students with the knowledge and tools to use microeconomic and macroeconomic theory and concepts in analysing business decision making and an understanding of the broader social, economic and regulatory environment in which businesses operate.
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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:
Name | Weighting | Hurdle | Due |
---|---|---|---|
Assignment | 20% | No | Week 11 |
Mid-Session Test | 20% | No | Week 9 |
Final exam | 60% | No | University Examination Period |
Due: Week 11
Weighting: 20%
This assignment will be a selection of problems requiring the application of the theory and knowledge of the examples considered in the lectures and readings throughout the semester.
Due: Week 9
Weighting: 20%
This test covers the models and techniques given in the seven to eight weeks of ECON991. It also prepares students for the format and difficulty of the final exam.
Due: University Examination Period
Weighting: 60%
The final examination for this unit will be held during the Macquarie University final examination period.
The textbook for this course, Economics eBook, 10th Edition by Sloman, Garratt & Guest can be found at the following: https://pearson.com.au/9781292187907
Unit Web Page
There are 21 units. One or two units will be covered each week except for week nine which will be devoted to the mid-session test. The units are taken from Institute and Faculty of Actuaries Subject CB2 core principles. The list below gives the titles of each of the units and the required readings from Economics, 10th Edition by Sloman, Garratt & Guest .
Unit 1: Economic Concepts -- Chapter 1, sections 1.1 and 1.2
Unit 2: Competitive Markets -- Chapter 2, Chapter 3, sections 3.1 and 3.2
Unit 3: Consumer Demand -- Chapter 4, excluding Boxes 4.4 and 4.5, Chapter 5
Unit 4: Advertising -- Chapter 2 Box 2.4
Unit 5: Production Costs, Revenue and Profit -- Chapter 6
Unit 6: Perfect Competition and Monopoly -- Chapter 7
Unit 7: Imperfect Competition -- Chapter 8, sections 8.1 - 8.3
Unit 8: Pricing Strategies -- Chapter 9 section 9.6, Chapter 7 sub-section 'limit pricing' and Chapter 8 section 8.4
Unit 9: Government Intervention -- Chapter 12, excluding section 12.4
Unit 10: Government and the Firm -- Chapter 14, section 14.1
Unit 11: Globalisation and Multinational Business
Unit 12: International Trade -- Chapter 24, sections 24.1 and 24.2
Unit 13: The Macroeconomic Environment -- Chapter 15 excluding 15.7, Chapter 17 sections 17.1, 17.2 and 17.4 and Chapter 20 sections 20.1, 20.2 and 20.4
Unit 14: Balance of Payments and Exchange Rates -- Chapter 15 section 15.7, Chapter 25 and Chapter 26 sections 26.1 and 26.2
Unit 15: Money and Interest Rates -- Chapter 18, Chapter 19 sections 1.1 - 1.3
Unit 16: The Financial System -- Chapter 18 section 18.2
Unit 17: Business Activity, Unemployment and Inflation -- Chapter 15 section 15.3, Chapter 17, Chapter 19 section 19.1 and Chapter 21 sections 21.1 and 21.2
Unit 18: Macroeconomic Policy -- Chapter 22 sections 22.1 - 22.4
Unit 19: Supply Side Policy -- Chapter 23 sections 23.4 - 23.6
Unit 20: Alternative Economic Models -- Chapter 16 and Chapter 12 box 12.7
Unit 21: Macroeconomic History -- Chapter 16 and Chapter 26 box 26.5
More information about the specifics of the units and the associated readings will be provided on the unit website and during lectures. Some additional readings will also be provided for some units.
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Our postgraduates will be able to demonstrate a significantly enhanced depth and breadth of knowledge, scholarly understanding, and specific subject content knowledge in their chosen fields.
This graduate capability is supported by:
Our postgraduates will be capable of utilising and reflecting on prior knowledge and experience, of applying higher level critical thinking skills, and of integrating and synthesising learning and knowledge from a range of sources and environments. A characteristic of this form of thinking is the generation of new, professionally oriented knowledge through personal or group-based critique of practice and theory.
This graduate capability is supported by:
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This graduate capability is supported by:
Our postgraduates will be able to communicate effectively and convey their views to different social, cultural, and professional audiences. They will be able to use a variety of technologically supported media to communicate with empathy using a range of written, spoken or visual formats.
This graduate capability is supported by: