ECON 152 : Principles of Economics

Business and Economics

2020 Semester One (1203) (15 POINTS)

Course Prescription

Analysis of issues that affect our daily lives, including pricing decisions by firms and their impact on our cost of living; game theory and strategic decision-making; tackling problems of pollution and global warming; and how governments use monetary and fiscal policies to stimulate economic growth and address unemployment and inequality. Prerequisite: ECON 151 or 16 credits in NCEA Level 3 Economics with a Merit average including standard 91399 (Demonstrate understanding of the efficiency of market equilibrium), or a scholarship pass in Economics, or B grade in CIE Economics or 4 out of 7 in Economics (HL) in IB

Course Overview

This course offers a foundation analysis of the workings of market systems and the economy. It provides students with a theoretical understanding of consumer and firm behaviour, and the implications of different market conditions for the operation of the market mechanism and government intervention. Aggregate economic activity in an open economy is explored and government policy implications and ramifications are assessed. The framework developed is used to examine and evaluate the operation of microeconomic and macroeconomic mechanisms and their interrelationships.
Goals of the course:
• To provide students with a general understanding of economic principles and their relevance to microeconomic and macroeconomic issues concerning business and the economy.
• To prepare continuing students for progression into stage II economics papers.
• To invoke and maintain a level of interest among students of economics.

Course Requirements

Restriction: ECON 101, 111, 191

Capabilities Developed in this Course

Capability 1: Disciplinary Knowledge and Practice
Capability 2: Critical Thinking
Capability 3: Solution Seeking
Capability 4: Communication and Engagement
Capability 5: Independence and Integrity
Capability 6: Social and Environmental Responsibilities
Graduate Profile: Bachelor of Commerce

Learning Outcomes

By the end of this course, students will be able to:
  1. Analyse consumer and firm responses to a range of problems. (Capability 1, 2 and 6)
  2. Apply models of competitive behaviour to a range of situations. (Capability 2, 3 and 5.2)
  3. Assess the implications of market outcomes and how government can impact on these. (Capability 2, 5.2 and 6)
  4. Analyse the relationships between key macroeconomic variables. (Capability 1 and 2)
  5. Assess the implications of macroeconomic outcomes and how government can impact on these. (Capability 2, 3 and 5.2)
  6. Communicate effectively economic ideas using the written, diagrammatic and mathematical tools of economics. (Capability 4.2 and 5.1)

Assessments

Assessment Type Percentage Classification
Quizzes 10% Individual Coursework
Essay 20% Individual Coursework
Test 20% Individual Test
Final Exam 50% Individual Examination
Assessment Type Learning Outcome Addressed
1 2 3 4 5 6
Quizzes
Essay
Test
Final Exam

The dates for the midterm test, quizzes and for handing in the essay will be announced at the beginning of the semester. Information about the final exam date will be available via SSO.

Workload Expectations

This course is a standard 15 point course and students are expected to spend 10 hours per week involved in each 15 point course that they are enrolled in.

For this course, you can expect 3 hours of lectures, a 1 hour tutorial, 3 hours of reading and working on the content and 3 hours of work on assignments and/or test preparation.

Learning Resources

1. All course material posted on CANVAS by your lecturer
2. Recommended Textbook: Economics 152 Custom e-book, by Robert Frank, Ben Bernanke, Kate Antonovics, Ori Heffetz. McGraw Hill.

Digital 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.

Academic Integrity

The University of Auckland will not tolerate cheating, or assisting others to cheat, and views cheating in coursework 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. This requirement also applies to sources on the internet. A student's assessed work may be reviewed against online source material using computerised detection mechanisms.

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 at 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.

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.

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.

Published on 24/01/2020 11:46 a.m.