ECON 152 : Principles of Economics
Business and Economics
2024 Semester One (1243) (15 POINTS)
Course Prescription
Course Overview
This course oers 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 dierent 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 ramications are assessed. The framework developed is used to examine and evaluate the operation of microeconomic and macroeconomic mechanisms and their interrelationships.
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 |
Learning Outcomes
- Analyse consumer and firm responses to a range of problems. (Capability 1.1, 3.1, 4.1 and 5.1)
- Apply models of competitive behaviour to a range of situations. (Capability 3.1, 4.1 and 5.1)
- 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)
- Analyse the relationships between key macroeconomic variables. (Capability 3.1, 4.1 and 5.1)
- Assess the implications of macroeconomic outcomes and how government can impact on these. (Capability 1.1, 3.1, 4.1 and 5.1)
- Communicate economic ideas effectively using the written, diagrammatic and mathematical tools of economics. (Capability 4.1, 6.1, 6.2 and 8.2)
Assessments
| Assessment Type | Percentage | Classification |
|---|---|---|
| Quizzes | 32% | Individual Coursework |
| Reflection Journal | 8% | Individual Coursework |
| Presentation | 10% | Individual Coursework |
| Mid-Term Test | 17% | Individual Test |
| Final Exam | 33% | Individual Examination |
| 5 types | 100% |
| Assessment Type | Learning Outcome Addressed | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | 2 | 3 | 4 | 5 | 6 | |||||
| Quizzes | ||||||||||
| Reflection Journal | ||||||||||
| Presentation | ||||||||||
| Mid-Term Test | ||||||||||
| Final Exam | ||||||||||
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 1.5 hours of lecture, a 1 hour tutorial, 4.5 hours of reading/watching/engaging with the content and 3 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 1.5 hour lecture session will focus on working through examples and applied problems. Each tutorial session will be devoted to 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, since many activities will we accomplished by groups working together during class.
The course will not include live online events.
University policy requires that at least 50% of the course credit must be earned via invigilated testing mechanisms. The Final Exam constitutes 1/3 of your grade and will be invigilated on Inspera. The Mid-Term is worth 1/6 of your grade and will be invigilated in person. These two assessments comprise 50% of your grade.
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.
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.
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 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 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 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 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.