Hobart
Self-enrolment is not available. Enrolment will occur only after attending an orientation or unit counselling session to ensure that you are taking the correct units to fulfill your pathway requirements.
Introduction
Introduction to Markets and the Economy introduces the key concepts in economics, microeconomics and macroeconomics. It demonstrates how these concepts can be used to describe and explain the decisions of businesses and individuals and their reaction to world events, social and economic change and government policy. The unit explains why and when markets work and fail. Many of the problems that nations face such as pollution, unemployment, climate change, deflation, inflation, poverty, education and health, are market failures. The unit devotes considerable time towards explaining how to develop basic microeconomic and macroeconomic policy for market failures and how evaluate their welfare consequences for different members of society.
Summary
| Unit name | Introduction to Markets and the Economy |
| Unit code | XPD102 |
| Credit points | 12.5 |
| College/School | Academic Division DVC - Education |
| Discipline | University Pathways |
| Coordinator | Mr Mustajab Ahmed Soomro |
| Available as an elective? | No |
| Delivered By | University of Tasmania |
| Level | Introductory |
Sustainable Development Goals
The Unit Coordinator has identified that this unit aligns with the following UN Sustainable Development Goals. We welcome your thoughts and feedback on the alignment of the unit with these goals.
Availability
| Location | Study period | Attendance options | Available to | ||
|---|---|---|---|---|---|
| Hobart | IPC Semester 1 |
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| Hobart | IPC Semester 2 |
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| Hobart | IPC Semester 3 |
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- Key:
- On-campus
Off-Campus- International students
Domestic students
Note
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Units are offered in attending mode unless otherwise indicated (that is attendance is required at the campus identified). A unit identified as offered by distance, that is there is no requirement for attendance, is identified with a nominal enrolment campus. A unit offered to both attending students and by distance from the same campus is identified as having both modes of study.
Key Dates
| Study Period | Start date | Census date | WW date | End date |
|---|---|---|---|---|
| IPC Semester 1 | 23/2/2025 | 17/3/2025 | 13/4/2025 | 29/5/2025 |
| IPC Semester 3 | 12/10/2025 | 3/11/2025 | 4/12/2025 | 22/1/2026 |
| IPC Semester 2 | 22/6/2025 | 13/7/2025 | 6/8/2025 | 18/9/2025 |
* 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 (refer to How do I withdraw from a unit? for more information).
Unit census dates currently displaying for 2025 are indicative and subject to change. Finalised census dates for 2025 will be available from the 1st October 2024. Note census date cutoff is 11.59pm AEST (AEDT during October to March).
Learning Outcomes
- Define and interpret key microeconomic and macroeconomic concepts.
- Apply basic microeconomic and macroeconomic concepts to describe the impact of global events, social change, and government policy on markets and the macroeconomy.
- Describe how and why markets work, and how and why they fail. Develop and critically evaluate basic microeconomic and macroeconomic policy solutions to market failures and identify their welfare implications.
Fee Information
| Field of Education | Commencing Student Contribution 1,3 | Grandfathered Student Contribution 1,3 | Approved Pathway Course Student Contribution 2,3 | Domestic Full Fee 4 |
|---|---|---|---|---|
| 091901 | $2,124.00 | $1,663.00 | not applicable | $2,726.00 |
1 Please refer to more information on student contribution amounts.
2 Please refer to more information on eligibility and Approved Pathway courses.
3 Please refer to more information on eligibility for HECS-HELP.
4 Please refer to more information on eligibility for FEE-HELP.
If you have any questions in relation to the fees, please contact UniConnect or more information is available on StudyAssist.
Please note: international students should refer to What is an indicative Fee? to get an indicative course cost.
Requisites
Mutual Exclusions
You cannot enrol in this unit as well as the following:
BEA111Teaching
| Teaching Pattern | 5 hours of face-to-face classes per week over 13 weeks. |
|---|---|
| Assessment | Principles (10%)|Quiz (20%)|Assignment 1 - Micro topics (35%)|Assignment 2 - Macro Topics (35%) |
| Timetable | View the lecture timetable | View the full unit timetable |
Textbooks
| Required |
Frank, R.H., Jennings, S.M. and Bernanke, B.S. (2012), Principles of Microeconomics, (3rd edn), McGraw Hill, North Ryde, NSW. You will need a hard copy of e-text of the following text book: Hubbard, R. Glen., Anne Garnett, Phil Lewis, Anthony O'Brien (2018), Essentials of Economics, (4th edn), Pearson. ISBN 9781488616983, NSW
Hard copies of the book are available for purchase from the Co-op Bookshop in person, or on line at www.coop.com.au/essentials-of-economics. Hard copies and e-text versions of the book are available from the publisher Pearson at https://www.pearson.com/en-au You may also wish to purchase MyLab for Hubbard et. al from Pearson that provides additional resources and opportunities to learn. |
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| Recommended |
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The University reserves the right to amend or remove courses and unit availabilities, as appropriate.