BUSINESS 115 : Economics, Markets and Law

Business and Economics

2025 Semester Two (1255) (15 POINTS)

Course Prescription

Considers how the economic and legal environment affects individuals, businesses, markets and the global economy. Explores the meaning and impact of price fluctuations, interest rate changes, exchange rate movements and balance of payments problems, standard of living comparisons, regional trading agreements, and regulatory and legal mechanisms and constraints.

Course Overview

This course is designed to be accessible to students with no prior exposure to economics or legal concepts and frameworks. Citizens and voters require basic knowledge of the legal and economic environments to make sense of the world at large and make informed decisions. This course focuses mainly on economic and social issues that are commonly encountered in daily discussions of events in the media and provides an overview of New Zealand's legal system and institutions. Overall, the course seeks to empower students through enhancing their understanding of resilient organisations.

BUSINESS 115 provides foundational disciplinary knowledge and practice and contributes to students’ understanding of people and place, critical thinking, and communication skills. When applying various analytical tools to major developments and challenges in the global economy (such as the rise of tech giants, climate change, and population ageing), students are expected to develop a deeper understanding of social and environmental responsibility and to think critically about these issues. They will also improve individual communication skills by answering questions about New Zealand's legal environment and preparing a critical report about a current economic and social issue.

Course Requirements

Restriction: ECON 101, 111, 151, 151G, 191

Capabilities Developed in this Course

Capability 1: People and Place
Capability 3: Knowledge and Practice
Capability 4: Critical Thinking
Capability 6: Communication
Graduate Profile: Bachelor of Commerce

Learning Outcomes

By the end of this course, students will be able to:
  1. Explain the nature of law and its application in New Zealand’s constitutional framework, including the functioning of Government, The Treaty of Waitangi and Te Tiriti o Waitangi. (Capability 1.1, 1.2 and 3)
  2. Apply foundational micro- and macro-economic principles and analytical tools to current issues and evaluate their impacts on individuals, businesses, markets, and the global economy. (Capability 3)
  3. Predict and evaluate welfare-impacts of public policies. (Capability 3)
  4. Critically evaluate perspectives on current issues, including social and environmental responsibilities, and synthesize ideas in the form of a critical report. (Capability 4 and 6.2)

Assessments

Assessment Type Percentage Classification
Weekly Quizzes 20% Individual Coursework
Law Assignment 10% Individual Coursework
Economics and Markets Report 20% Individual Coursework
Final Exam 50% Individual Examination
Assessment Type Learning Outcome Addressed
1 2 3 4
Weekly Quizzes
Law Assignment
Economics and Markets Report
Final Exam

Workload Expectations

Following University workload guidelines, a standard 15-point course represents approximately 150 hours of study.

During a typical teaching week there will be 3 hours of pre-workshop preparation, 2 hours of workshops, 2 hours of post-workshop assessment, and 3 hours of assignment/report planning, researching, and writing. For the 12 teaching weeks, this totals to 120 hours. Since the course as a whole represents approximately 150 hours of study, that leaves a total of 30 hours across the entire semester for independent study (e.g., reading, reflection, preparing for various assessments/exams, etc.).

Delivery Mode

Campus Experience

Attendance is expected at workshops to complete the necessary components of the course.
Unless otherwise specified, workshops will not be available as recordings.
The course will not include live online events.
Exam timetables are normally published online during the mid-semester break of the relevant semester. At that point, you will also learn the mode for each of your exams, e.g., if it will be a remote/online exam, or an on-campus exam.
The activities for the course are scheduled as a standard weekly timetable.

Learning Resources

Course materials are made available in a learning and collaboration tool called Canvas which also includes reading lists and lecture recordings (where available).

Please remember that the recording of any class on a personal device requires the permission of the instructor.

  • Recommended Textbook: Frank, R.H., Bernanke, B., Antonovics, K.L., & Heffetz, O. (2018). Principles of economics. 7th edn. New York, NY: McGraw-Hill Education. The online (eBook) version is available online via the University's General Library website/catalogue. A number of hard copy (print) versions are also placed on Short Loan at the University's General Library.
  • There are many other applicable textbooks available for your use at the University's General Library. These other textbooks are held in print and/or eBook form. For example, a highly recommended textbook that is very useful for further studies in Economics and has a good macroeconomics focus with useful New Zealand data/examples is: Mankiw, N.G., Bandyopadhyay, D., & Wooding, P. (2009). Principles of macroeconomics in New Zealand. 2nd edn. South Melbourne, Victoria: Cengage Learning.
  • Additional course materials are posted on Canvas.

Student Feedback

At the end of every semester students will be invited to give feedback on the course and teaching through a tool called SET or Qualtrics. The lecturers and course co-ordinators will consider all feedback and respond with summaries and actions.

Your feedback helps teachers to improve the course and its delivery for future students.

Class Representatives in each class can take feedback to the department and faculty staff-student consultative committees.

For example, looking at the strengths and weaknesses taken from the SET student feedback, course leaders and teachers can look at various ways to better engage students during workshops, and improve the overall teaching and learning experience.

Other Information

Please see additional course information provided on Canvas about how to seek assistance and a number of other frequently asked questions about the course and the assessments.

Academic Integrity

The University of Auckland will not tolerate cheating, or assisting others to cheat, and views cheating in coursework, tests and examinations as a serious academic offence. The work that a student submits for grading must be the student's own work, reflecting their learning. Where work from other sources is used, it must be properly acknowledged and referenced. A student's assessed work may be reviewed against electronic source material using computerised detection mechanisms. Upon reasonable request, students may be required to provide an electronic version of their work for computerised review.

Class Representatives

Class representatives are students tasked with representing student issues to departments, faculties, and the wider university. If you have a complaint about this course, please contact your class rep who will know how to raise it in the right channels. See your departmental noticeboard for contact details for your class reps.

Inclusive Learning

All students are asked to discuss any impairment related requirements privately, face to face and/or in written form with the course coordinator, lecturer or tutor.

Student Disability Services also provides support for students with a wide range of impairments, both visible and invisible, to succeed and excel at the University. For more information and contact details, please visit the Student Disability Services’ website http://disability.auckland.ac.nz

Special Circumstances

If your ability to complete assessed coursework is affected by illness or other personal circumstances outside of your control, contact a member of teaching staff as soon as possible before the assessment is due.

If your personal circumstances significantly affect your performance, or preparation, for an exam or eligible written test, refer to the University’s aegrotat or compassionate consideration page https://www.auckland.ac.nz/en/students/academic-information/exams-and-final-results/during-exams/aegrotat-and-compassionate-consideration.html.

This should be done as soon as possible and no later than seven days after the affected test or exam date.

Learning Continuity

In the event of an unexpected disruption we undertake to maintain the continuity and standard of teaching and learning in all your courses throughout the year. If there are unexpected disruptions the University has contingency plans to ensure that access to your course continues and your assessment is fair, and not compromised. Some adjustments may need to be made in emergencies. You will be kept fully informed by your course co-ordinator, and if disruption occurs you should refer to the University Website for information about how to proceed.

Student Charter and Responsibilities

The Student Charter assumes and acknowledges that students are active participants in the learning process and that they have responsibilities to the institution and the international community of scholars. The University expects that students will act at all times in a way that demonstrates respect for the rights of other students and staff so that the learning environment is both safe and productive. For further information visit Student Charter https://www.auckland.ac.nz/en/students/forms-policies-and-guidelines/student-policies-and-guidelines/student-charter.html.

Disclaimer

Elements of this outline may be subject to change. The latest information about the course will be available for enrolled students in Canvas.

In this course you may be asked to submit your coursework assessments digitally. The University reserves the right to conduct scheduled tests and examinations for this course online or through the use of computers or other electronic devices. Where tests or examinations are conducted online remote invigilation arrangements may be used. The final decision on the completion mode for a test or examination, and remote invigilation arrangements where applicable, will be advised to students at least 10 days prior to the scheduled date of the assessment, or in the case of an examination when the examination timetable is published.