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ECON11026 Principles of Economics
This introductory course in economics covers basic microeconomic theory, and an introduction to macroeconomic goals and tools. Examples of the application of the theory within the context of the contemporary Australian economy and internationally are provided. The methodology of economic analysis (the scientific method) is explained at the outset. The course then explains the theory of demand and supply, elasticity and how prices of goods and services and the cost and revenue curves are determined. This is followed by the explanation of the four market structures: perfect competition, monopoly, monopolistic and oligopoly and how wages are set and income distributed in the factor market. The course critically examines why government intervention is necessary in order to correct market failure and achieve allocative and productive efficiency. Finally, the goals and tools of macroeconomics are introduced and their application in development of monetary and fiscal policy is discussed.
Course at a glance
|Requisites:||This course has no pre/co-requisites|
|Student Contribution Band:||3A|
|2012 Term One||BNE FLEX GDC MEL SYD|
|2012 Term Two||BDG BNE FLEX GDC GLD MEL MKY ROK SYD|
|2012 Term Three||BNE FLEX GDC MEL MLR SYD|
Course evaluation reports
Course evaluation results may be accessed using the Course Evaluation application in the My.CQU Portal at http://my.cqu.edu.au
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