This unit develops an evidence-based approach to economic decision-making in a dynamic market environment and critically examines the rationale for and effectiveness of government policy and regulation. Microeconomic topics include an analysis of the competitive environment facing firms, including: pricing, market structure, market failure and transaction costs. Macroeconomic topics include a review of significant national and international economic challenges, including: business cycles, inflation, unemployment and international competitiveness. These will be examined from the perspective of government stabilisation policies and strategies to enhance productivity, international competitiveness and economic growth. 

Unit details

Study level:
Postgraduate
Credit points:
12
Unit code:
BEO6600

Learning Outcomes

On successful completion of this unit, students will be able to:
  1. Identify, explain and synthesise core and advanced economic concepts, including recent developments in the discipline;  
  2. Frame and critically analyse business problems by applying economic reasoning and analytical skills to make informed judgements and decisions;  
  3. Ability to utilise economic data to address economic problems, apply appropriate empirical techniques and interpret results;  
  4. Communicate complex ideas clearly and coherently, in written form and interactive oral form to expert and non-expert audiences; and  
  5. Reflect on and evaluate the nature and implications of assumptions and value judgements in economic analysis and policy.  

Assessment

Assessment type Description Grade
Report Assignment Report (3000 words) 30%
Test Mid Semester Test 20%
Examination Final Examination (3 hours duration) 50%

Required reading

Lecture notes, tutorials and additional materials will be provided by or referred to by lecturer and be supported by the VU e-learning system.

Principles of economics: Asia-Pacific edition (7th ed.).
Gans, J,, King, S., Stonecash, R., Byford, M., Libich, J., & Mankiw, N. G. (2018).
South Melbourne: Cengage Learning Australia.

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