BEA111 introduces the key concepts in economics, both microeconomics and macroeconomics. It demonstrates how these concepts can be used to describe and explain the decisions of businesses and individuals and their reactions 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 policies for market failures and how to evaluate their welfare consequences for different members of society.
|Unit name||Introduction to Markets and the Economy|
|College/School||College of Business & Economics
Tasmanian School of Business and Economics
|Coordinator||Doctor Bao Nguyen|Doctor Paul Blacklow|
|Teaching staff||Doctor Moses Kangogo|
|Available as an elective?||Yes|
|Delivered By||University of Tasmania and Third Party (Shanghai Ocean University AEIN Institute)|
|Location||Study period||Attendance options||Available to|
|Launceston||Accelerated Study Period 1||On-Campus||International||Domestic|
|Cradle Coast||Accelerated Study Period 1||On-Campus||International||Domestic|
|Online||Accelerated Study Period 1||Off-Campus||International||Domestic|
|Hong Kong Universal Ed||Semester 1||On-Campus||International|
|Shanghai Ocean University||Shanghai Semester 2||On-Campus||International|
- International students
- Domestic students
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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.
|Study Period||Start date||Census date||WW date||End date|
|Shanghai Semester 2||20/2/2023||21/3/2023||1/1/1970||26/5/2023|
|Accelerated Study Period 1||30/1/2023||22/2/2023||16/3/2023||30/4/2023|
* 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 2023 are indicative and subject to change. Finalised census dates for 2023 will be available from the 1st October 2022. Note census date cutoff is 11.59pm AEST (AEDT during October to March).
- Define and interpret key microeconomic and macroeconomic concepts.
- Apply basic microeconomic and macroeconomic concepts to describe the impact of global events, social change, 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
|Field of Education||Commencing Student Contribution 1||Grandfathered Student Contribution 1||Approved Pathway Course Student Contribution 2||Domestic Full Fee|
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.
Please note: international students should refer to What is an indicative Fee? to get an indicative course cost.
You cannot enrol in this unit as well as the following:BEA110, XPD102, BAA110
|Assessment||Quiz (10%)|Final Exam (50%)|Assignment 2 - Macro topics (20%)|Assignment 1 - Micro topics (20%)|
|Timetable||View the lecture timetable | View the full unit timetable|
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.
|Links||Booktopia textbook finder|
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