Economic Principles

Unit code: VBE1002 | Study level: Undergraduate
12
(One credit point is usually equivalent to one hour of study per week)
City Campus
City Flinders
Online Real Time
VU Sydney
N/A
Overview
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Overview

This unit of study introduces students to the fundamental principles of economics and their application to business decision making and development of economic policy. Students will be introduced to the economic way of thinking and how key concepts, theories and methods of modern economic analysis can be applied to everyday economic issues and problems. The unit will support students to develop skills enabling them to apply economics principles to a range of common problems in a variety of contexts and will assist in developing a range of transferable skills to be of value in further study and employment. The learning and teaching in the unit supports and prepares students for further study and the workplace through the scaffolded development of academic and professional skills.

Learning Outcomes

On successful completion of this unit, students will be able to:

  1. Discuss the basic fundamental problem of scarcity facing modern societies;
  2. Demonstrate the developing use of the market dynamics model in economic reasoning and problem solving;
  3. Analyse key forces that influence economic decision making for sustainable use of resources;
  4. Evaluate key economic indicators relevant to business, household and government for sustainable development; and
  5. Apply and explain elementary economic theories and techniques in business decision making and government policy, incorporating social, cultural and environmental objectives.

Assessment

For Melbourne campuses

Assessment type: Test
|
Grade: 20%
On-line multiple choice question
Assessment type: Project
|
Grade: 30%
Integrated Microeconomic Assessment
Assessment type: Assignment
|
Grade: 25%
Analytical Macro Economics Assignment
Assessment type: Test
|
Grade: 25%
End of Block Test - (On-line)

Other locations

For students studying at Henan University, Liaoning University
Assessment type: Assignment
|
Grade: 25%
Analytical Assignment (1000 words)
Assessment type: Test
|
Grade: 15%
Class Test (500 words)
Assessment type: Test
|
Grade: 10%
Class Test (500 words)
Assessment type: Examination
|
Grade: 50%
Final Exam (1500 words)
For students studying at VU Sydney
Assessment type: Test
|
Grade: 20%
On-line multiple choice question
Assessment type: Project
|
Grade: 30%
Integrated Microeconomic Assessment
Assessment type: Assignment
|
Grade: 25%
Analytical Economics Assignment
Assessment type: Test
|
Grade: 25%
End of Block Test (On-line)

Required reading

There are no required texts for this unit.

As part of a course

This unit is studied as part of the following course(s):

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