Stage 1 Economics
Course Length: 10-credit or 20-credit
Learning Area: Humanities and Social Sciences
Where does it lead?
Economics provides an excellent foundation for those students who wish to pursue studies in Business at the tertiary level. It is also useful for any course in which decision making, or an understanding of local or global economic issues is important. It develops skills of analysis and critical thinking and enables students to make informed economic choices. The study of economics at tertiary level could lead to positions as diverse as the formulation of economic policy, industrial relations, advising developing economies or environmental economics.
What is in the course?
The course aims to develop an understanding of basic economic concepts, with an emphasis on current economic events. It seeks to explore the interdependence between economic, social and political factors and underlines the important realisation that all economic decisions involve costs and benefits. Specifically, the course explores the economic problem which faces every country. All countries have to decide how to run their economies and how to allocate their resources. The course will consider different economic systems and the market mechanism, and how demand and supply determine the price we pay for goods and services. The role of governments in a market economy will also be considered. In Semester 2 we explore key national economic issues, such as unemployment and inflation. Developing economies are considered in relation to causes of poverty and possible strategies for development.
- Group case study, independent issues study
- Test and assignments