Courses & Units

Introduction to Economic Thought BAA110

Hong Kong Universal Ed


Introduction to Economic Thought is designed to give you a broad introduction to the foundation principles of economic thought, and will demonstrate the usefulness of the principles to better understand the behaviour of people, business, and government.  By introducing you to a small number of core economic concepts and tools, and by demonstrating their wide ranging application, this unit provides you with the opportunity to improve decision making in all domains of your life and to better understand aspects of the business and policy environments in which you operate, both individually and collectively. The unit also highlights the use of key economic concepts that can assist people in their role as managers to form successful competitive strategies, and to run more profitable firms.  Some of the topics covered in this unit include the laws of supply and demand, market structure, specialisation, game theory, information asymmetry and the welfare implication of business decisions and government policy.


Unit name Introduction to Economic Thought
Unit code BAA110
Credit points 12.5
Faculty/School College of Business & Economics
Tasmanian School of Business and Economics
Discipline Economics and Finance

Dr Clinton Levitt

Level Introductory
Available as student elective? Yes
Breadth Unit? No


Location Study period Attendance options Available to
Hong Kong Universal Ed Semester 1 On-Campus International


International students
Domestic students

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Key Dates

Study Period Start date Census date WW date End date
Semester 1 24/2/2020 23/3/2020 13/4/2020 31/5/2020

* The Final WW Date is the final date from which you can withdraw from the unit without academic penalty, however you will still incur a financial liability (see withdrawal dates explained for more information).

Unit census dates currently displaying for 2020 are indicative and subject to change. Finalised census dates for 2020 will be available from the 1st October 2020.

About Census Dates

Learning Outcomes

LO1: Define, measure and use key economic concepts in a business environment.

LO2: Describe the framework used in economics for making and analysing business decisions.

LO3: Use economic theory to explain decisions made by individuals, businesses, government, and identify the ethical and welfare impacts of these decisions.



Band Field of Education
3 091901

Fees for next year will be published in October. The fees above only apply for the year shown.

Please note: international students should refer to this page to get an indicative course cost.





Teaching Pattern

Weekly 1 hr lecture, 1 hr tutorial and 1 hr workshop


In-workshop tests (20%), essays (20%) and final exam (60%)

TimetableView the lecture timetable | View the full unit timetable



Please see the unit outline for details.

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