Programs & Courses 2013
Student Handbook Home: Edition 2

ECON11029 Introduction to Economics

Course details

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
Career: Undergraduate
Credit points: 6
Requisites: Only students enrolled in CG35, CG36, CG39 and CF91 are able to enrol in this course
Student Contribution Band: 3A
EFTSL: 0.12500
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Course availability
Term Campus
2012 Term One BNE GDC MEL SYD
2012 Term Two BNE GDC MEL SYD
2012 Term Three BNE GDC MEL SYD
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