Course Title: Fundamentals of Economics
Part A: Course Overview
Course Title: Fundamentals of Economics
Credit Points: 12.00
Terms
Course Code |
Campus |
Career |
School |
Learning Mode |
Teaching Period(s) |
ECON1317 |
City Campus |
Preparatory |
TRN RMIT Training |
Face-to-Face |
Term2 2018, Term2 2019, Term1 2020, Term2 2020, Term 1 2021, Term2 2021, Term2 2022 |
Course Coordinator: Team Leader Business
Course Coordinator Phone: +61 3 9925 3043
Course Coordinator Email: rmit.training.fs.team.leaders@rmit.edu.au
Course Coordinator Location: Level 4, B108
Pre-requisite Courses and Assumed Knowledge and Capabilities
None.
Course Description
In this course, you will study microeconomic and macroeconomic fundamentals. These concepts will demonstrate the operation of the economy at consumer, firm and market levels. You will also look at decisions that impact upon the overall economy of a country and areas such as inflation, unemployment and trade. You will examine the behaviour of economic agents and how consumers and firms make decisions in a market environment. Emphasis is placed on the interrelationship between real world situations and the application of economic theory to practical scenarios.
Objectives/Learning Outcomes/Capability Development
See Learning Outcomes.
Course learning outcomes
Upon successful completion of this course, you will be able to:
- Identify and explain how consumers, firms and government make economic decisions.
- Apply microeconomic concepts to explain real life economic scenarios.
- Analyse and interpret issues arising from economic policy.
- Explain how GDP, inflation and unemployment are measured.
- Identify and explain how various key factors determine economic output and prices in the economy.
- Apply macroeconomic concepts to explain real life economic scenarios.
- Identify and explain the importance and types of trade.
- Analyse and interpret the value of trade.
Program Learning Outcomes
In this course you will develop the following program learning outcomes:
- Work independently and in groups to meet learning outcomes
- Apply approaches to critical and analytical thinking and problem solving
- Use a range of current learning technologies to enhance academic outcomes
Overview of Learning Activities
Your learning experience will include face-to- face teaching, in-class discussions, group work, individual problem-solving exercises and out of class research.
Overview of Learning Resources
RMIT will provide you with the resources and tools for learning in this course through our online systems. Students will be provided with a student book in the first week of classes.
The University Library has extensive resources for Education students. The Library has produced a number of subject guides that includes quality online and print resources for your studies http://rmit.libguides.com/cat.php?cide=29912.
The Library provides guides on academic referencing http//www.rmit.edu.au/library/referencing and subject specialist help via your Liaison Librarians.
Overview of Assessment
You will be assessed on how well you meet the course’s learning outcomes and on your development against the program learning outcomes.
Assessment Task 1: In-class closed book – Microeconomics quiz, 15%
Assessment Task 2: In-class closed book - Macroeconomics quiz, 15%
Assessment Task 3: Research Tasks, 40%
Assessment Task 4: End of Course Assessment, 30%
If you have a long-term medical condition and/or disability it may be possible to negotiate to vary aspects of the learning or assessment methods. Please contact your teacher in the first instance, the Business Stream Team Leader, or the Equitable Learning Services Unit if you would like to find out more.
Your course assessment conforms to RMIT assessment principles, regulations, policies, procedures and instructions which are available for review online: http://www.rmit.edu.au/policies/academic#assessment