ECON 152 : Principles of Economics

Business and Economics

2024 Summer School (1240) (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.

Course Overview

This course oers a foundation analysis of the workings of market systems and the economy. It provides students with a theoretical understanding of consumer and rm behaviour, and the implications of dierent 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 ramications are assessed. The framework developed is used to examine and evaluate the operation of microeconomic and macroeconomic mechanisms and their interrelationships.

Course Requirements

Prerequisite: BUSINESS 115 or ECON 151 Restriction: ECON 101, 111, 191

Capabilities Developed in this Course

Capability 1: People and Place
Capability 2: Sustainability
Capability 3: Knowledge and Practice
Capability 4: Critical Thinking
Capability 5: Solution Seeking
Capability 6: Communication
Capability 7: Collaboration
Capability 8: Ethics and Professionalism
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 1.1, 3.1, 4.1 and 5.1)
  2. Apply models of competitive behaviour to a range of situations. (Capability 3.1, 4.1 and 5.1)
  3. Assess the implications of market outcomes and how government can impact on these. (Capability 1.1, 2.1, 2.2, 3.1, 4.1, 5.1, 6.1, 7.1 and 8.1)
  4. Analyse the relationships between key macroeconomic variables. (Capability 3.1, 4.1 and 5.1)
  5. Assess the implications of macroeconomic outcomes and how government can impact on these. (Capability 1.1, 3.1, 4.1 and 5.1)
  6. Communicate economic ideas effectively using oral, written, diagrammatic and mathematical tools of economics. (Capability 3.1, 3.2, 4.1, 6.1, 6.2 and 8.2)


Assessment Type Percentage Classification
Pre-Class Knowledge Checks 8% Individual Coursework
Reflection Journal 8% Individual Coursework
Module Quizzes 24% Individual Coursework
Presentation 10% Individual Examination
Mid-Term Test 17% Individual Coursework
Final Exam 33% Individual Coursework
Assessment Type Learning Outcome Addressed
1 2 3 4 5 6
Pre-Class Knowledge Checks
Reflection Journal
Module Quizzes
Mid-Term Test
Final Exam

Workload Expectations

This course is a standard 15 point course and students at Summer School are expected to spend 20 hours per week involved in each 15 point course that they are enrolled in.

For this course, you can expect 4 hours of in-class lecture/tutorial, 6 hours of reading/watching/engaging with the online content and 10 hours of work on assignments and/or exam preparation.

Delivery Mode

Campus Experience

Attendance is expected at scheduled activities including lectures and tutorials but is not required; no specific credit in this course is allocated to attendance. 
Each two-hour lecture session will include 1 hour of working through examples and applied problems and the other hour will be an interactive learning activity involving student interaction and demonstrative in-class experiments. Group learning events will be recorded, but we expect that the recordings will be low quality and marginally beneficial. A learning reflections journal will be submitted at midterm and at the end of the semester, summarizing key learning points from each in-class active learning experience. 

The course will not include live online events.
Attendance in class is required for the mid-term, and attendance on campus is required for the Final Exam. 

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.

All course material will be posted on CANVAS by your lecturer.

Recommended Textbook: Economics 152 Custom e-book, by Robert Frank, Ben Bernanke, Kate Antonovics, Ori Heetz. McGraw Hill.
This is compiled from selected chapters of two textbooks: 
Robert Frank, Microeconomics and Behavior (9th Edition), McGraw-Hill
Robert Frank, Ben Bernanke, Kate Antonovics and Ori Heetz, Principles of Economics (6th Edition), McGraw-Hill

Other supplementary texts:
Greg Mankiw, Debasis Bandyopadhyay and Paul Wooding, Principles of Macroeconomics in New Zealand (2nd Edition), Cengage
Ian Jacques, Mathematics for Economics and Business (7th Edition), Pearson

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.

The most frequent request to improve the course in the most recent semester's feedback is to shift away from a 3-hour lecture format. We are specifically redesigning the course to allow students access to online learning material for the lecture portion, and cutting the in-class lecture time in half. We will use that lecture time for guiding students through learning examples and practice problems. The previous tutorial time will be used to conduct group active-learning experiences and demonstrative experiments to provide memorable learning experience pillars. 

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 for potential plagiarism or other forms of academic misconduct, using computerised detection mechanisms.

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

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

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 course assessment continues to meet the principles of the University’s assessment policy. Some adjustments may need to be made in emergencies. You will be kept fully informed by your course co-ordinator/director, 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


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 students may be asked to submit 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. In exceptional circumstances changes to elements of this course may be necessary at short notice. Students enrolled in this course will be informed of any such changes and the reasons for them, as soon as possible, through Canvas.

Published on 06/11/2023 01:08 p.m.