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BU1903 - Economics for Sustainable Business

Credit points: 3
Year: 2020
Student Contribution Band: Band 3
Administered by: College of Business, Law & Governance

Available to Diploma of Higher Education students only

This subject is an introductory subject in Economics. It covers concepts in Macroeconomics and Microeconomics and provides students with an understanding of the various economic interrelationships, both domestic and international, which will help them to reach informed business decisions in the highly dynamic world of business. The microeconomics part of the subject introduces the economic principles of demand and supply which build a foundation to understanding topics such as market forces, externalities, the environment, competition, the role of governments in markets, price and output determination under different market structures, and trade. The macroeconomics part of the subject explains existing theories of economic growth with extensive policy applications; it also provides discussions on economic (eg inflation) and social (eg employment) goals to be pursued at national and global level in order to achieve economic development and environmental sustainability.

Learning Outcomes

  • contrast and compare economic growth rates of different countries and develop an understanding of their determinants;
  • appreciate the interrelatedness of the global economy, which implies that localised crises may have global consequences;
  • apply economics concepts to important contemporary microeconomic and macroeconomic problems including major policy issues;
  • appreciate that resource scarcity must lead to economic trade-offs and appreciate the decision making processes involved in making those trade- offs, both at the individual (firm) level and the aggregate level;
  • comprehend how economic policy tools at the disposal of governments may benefit individuals, individual firms and/or society at large.

Subject Assessment

  • end of semester exam (40%)
  • online quizzes (30%)
  • case study report (30%).

Special Assessment Requirements

Tutorial attendance is mandatory in this subject. A student who fails to attend at least 70% must meet with the Associate Dean of Learning and Teaching and provide evidence as to why he or she should be permitted to sit the final exam or submit the final assessment task.

Inadmissible
Subject
Combinations:
EC1001 AND EC1005 AND BU1003

Availabilities

Townsville, Internal, Study Period 1
Census Date 26-Mar-2020
Workload expectations:

The student workload for this 3 credit point subject is approximately 130 hours.

  • 9 hours tutorials - Additional Tutorials/Workshops
  • 38 hours - Combined Lectures; Tutorials/Workshops; Lecturer directed activities.
  • assessment and self-directed study

External, Study Period 1
Census Date 26-Mar-2020
Workload expectations:

The student workload for this 3 credit point subject is approximately 130 hours.

  • 0 hours
  • assessment and self-directed study
Method of Delivery: WWW - LearnJCU

Cairns, Internal, Study Period 1
Census Date 26-Mar-2020
Workload expectations:

The student workload for this 3 credit point subject is approximately 130 hours.

  • 9 hours tutorials - Additional Tutorials/Workshops
  • 38 hours - Combined Lectures; Tutorials/Workshops; Lecturer directed activities.
  • assessment and self-directed study

JCU Singapore, Internal, Study Period 52
Census Date 06-Aug-2020
Workload expectations:

The student workload for this 3 credit point subject is approximately 130 hours.

  • 47 hours - Combined Lectures; Tutorials/Workshops; Lecturer directed activities.
  • assessment and self-directed study

JCU Singapore, Internal, Study Period 53
Census Date 03-Dec-2020
Workload expectations:

The student workload for this 3 credit point subject is approximately 130 hours.

  • 47 hours - Combined Lectures; Tutorials/Workshops; Lecturer directed activities.
  • assessment and self-directed study

JCU Singapore, Internal, Study Period 51
Census Date 09-Apr-2020
Workload expectations:

The student workload for this 3 credit point subject is approximately 130 hours.

  • 47 hours - Combined Lectures; Tutorials/Workshops; Lecturer directed activities.
  • assessment and self-directed study

Note: Minor variations might occur due to the continuous Subject quality improvement process, and in case of minor variation(s) in assessment details, the Subject Outline represents the latest official information.