Economics
Unit code: HBE613
| Credit points | 12.5 Credit Points |
| Duration | One teaching period |
| Contact hours | 36 hours |
| Campus | Hawthorn, Sarawak |
| Prerequisites | Nil |
| Corequisites | Nil |
Related course(s)
A unit of study in the following courses:
Master of Business Administration (International) [Sarawak].
Aims and objectives
This unit is designed to provide students with skills and practice of understanding, interpreting and evaluating microeconomic and macroeconomic issues. In particular the unit focuses on developing students' ability to apply these skills to real world applications of relevance to accountants and other business professionals.
- Develop a critical understanding of the workings of markets (PO4)
- Identify and apply industry structure characteristics to pricing and output decisions (PO3)
- Analyse and apply key economic principles relevant to managerial decision making (PO3)
- Interpret and analyse current economic issues and policies using a systematic framework (PO2&8)
- Demonstrate analytical and research skills as applied to problem solving tasks (PO3)
- Practise collaborative group problem solving to develop work place teamwork skills (PO8)
Teaching methods
Delivered in 3 hour class or 5 hour block delivery mode. Total student workload is 120 hours.
Assessment
Mid-semester Tests (Individual) 20-30%
Group Assignment (Group) 10-20%
Examination (Individual) 60-70%
Group Assignment (Group) 10-20%
Examination (Individual) 60-70%
Generic skills outcomes
This unit aims to achieve the following in our students:
- Teamwork skills
- Analysis skills
- Problem solving skills
- Communications skills
- Ability to tackle unfamiliar problems, and
- Ability to work independently
Content
- General principles of Microeconomics
- Supply and demand
- Market behaviour
- Costs of production
- Four alternative market structures
- Market failure and resource allocation
- Measuring macroeconomic performance
- Determinants of macroeconmic performance
- Inflation and unemployment
- External balance and foreign exhange markets
- Government economic policies - fiscal and monetary policies
