Hobart
Introduction
Principles of Economics 1 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 2020
| Unit name | Principles of Economics 1 |
|---|---|
| Unit code | XPD102 |
| Credit points | 12.5 |
| Faculty/School | Academic Division Office of the Provost & AD |
| Discipline | University Pathways |
| Coordinator | TBC |
| Level | Introductory |
| Available as student elective? | No |
| Breadth Unit? | No |
Availability
Note
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Fees
Requisites
Mutual Exclusions
You cannot enrol in this unit as well as the following:
BEA111
Teaching
| Assessment | In-tutorial tests – 20%, x 2 Essays – 10% and Final Examination 60% |
|---|---|
| Timetable | View the lecture timetable | View the full unit timetable |
Textbooks
| Required | Hubbart, R. Glen., Garnett, Phil Lewis, Anthony O'Brien (2018), Essentials of Economics, (4th edn), Pearson. ISBN 9781488616983, NSW |
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