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Economic Principles

Duration: 1 Teaching Period

Unit Code: ECO10004

Contact Hours: Recommended 10 hours of study per week

About this unit

The aim of this unit is to provide students with an introduction to microeconomic and macroeconomic theory with business and government policy applications. At the conclusion of the subject, students will understand important micro and macroeconomic concepts and how they improve decision making in business and government.

Content

  • Economic concepts of opportunity cost and comparative advantage
  • Market behaviour
  • Market failure
  • Macroeconomic indicators
  • Business cycle and economic growth
  • Government stabilisation policy

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