Overview

This unit introduces students to Microeconomic and Macroeconomic principles and theory. The aim of the unit is for students to evaluate economic decisions made by individuals, businesses and governments. Students will use and interpret economic indicators and communicate economic analysis. Areas examined include business pricing and production decisions, resource use efficiency, and government economic policies.

Requisites

Teaching periods
Location
Start and end dates
Last self-enrolment date
Census date
Last withdraw without fail date
Results released date
Pathways Teaching 1
Location
Hawthorn
Start and end dates
23-February-2026
29-May-2026
Last self-enrolment date
08-March-2026
Census date
24-March-2026
Last withdraw without fail date
14-April-2026
Results released date
09-June-2026
Pathways Teaching 2
Location
Hawthorn
Start and end dates
22-June-2026
25-September-2026
Last self-enrolment date
05-July-2026
Census date
21-July-2026
Last withdraw without fail date
11-August-2026
Results released date
06-October-2026
Pathways Teaching 3
Location
Hawthorn
Start and end dates
19-October-2026
29-January-2027
Last self-enrolment date
01-November-2026
Census date
17-November-2026
Last withdraw without fail date
15-December-2026
Results released date
09-February-2027

Unit learning outcomes

Students who successfully complete this unit will be able to:

  1. Use economic concepts and knowledge to analyse and interpret the business and economic environment
  2. Analyse and evaluate decision making by individuals, firms and government by using economic principles
  3. Use economic models to inform and explain decisions regarding price and production levels
  4. Identify and explain micro and macro-economic theory to improve efficient resource use
  5. Use theory and analysis to develop arguments supporting economic decisions

Teaching methods

Hawthorn

Type Hours per week Number of weeks Total (number of hours)
Live Online 
(Lecture)		 1 12 weeks  12
On-campus 
(Class 1)		 2.5 12 weeks  30
On-campus 
(Class 2)		 2.5 12 weeks  30
Unspecified Activities
(Independent Learning)		 6.5 12 weeks  78
TOTAL     150

Colombo and Kandy

Type Hours per week Number of weeks Total (number of hours)
On-campus 
(Lecture)		 1 12 weeks  12
On-campus 
(Class 1)		 2.5 12 weeks  30
On-campus 
(Class 2)		 2.5 12 weeks  30
Unspecified Activities
(Independent Learning)		 6.5 12 weeks  78
TOTAL     150

Assessment

Type Task Weighting ULO's
Case StudiesIndividual 20% 1,2,3,5 
Case StudyGroup 30% 1,2,3,4,5 
TestIndividual 25% 1,2,3,4,5 
TestIndividual 25% 1,2,3,4,5 

Content

  • Opportunity cost
  • Market behaviour
  • Market failure
  • Macroeconomic indicators
  • Business cycle and economic growth
  • Government stabilisation policy

Study resources

Reading materials

A list of reading materials and/or required textbooks will be available in the Unit Outline on Canvas.