Queensland University of Technology

Course Description

  • Course Name


  • Host University

    Queensland University of Technology

  • Location

    Brisbane, Australia

  • Area of Study


  • Language Level

    Taught In English

  • Course Level Recommendations


    ISA offers course level recommendations in an effort to facilitate the determination of course levels by credential evaluators.We advice each institution to have their own credentials evaluator make the final decision regrading course levels.

    Hours & Credits

  • Credit Points

  • Recommended U.S. Semester Credits
    3 - 4
  • Recommended U.S. Quarter Units
    4 - 6
  • Overview

    This unit introduces students to the key economic concepts and their practical applications. It comprises twelve topics each focusing on a current economic issue. Microeconomic topics include demand and supply, elasticity, production and cost theory and market structure. Macroeconomic topics include measuring GDP, inflation and unemployment, money and banking, and fiscal and monetary policy.
    Learning Outcomes
    Upon completion of this unit, you should be able to:
    1. Explain the aims and purpose of economics including key concepts, terminologies and tools of economic analysis;
    2. Interpret, present and apply economic data correctly and effectively to support analysis of contemporary economic issues;
    3. Accurately describe and effectively use economics theories and thinking to explain and analyse economic issues and policies that affect Australia and the global economy;
    4. Use professional written communication and information literacy skills, including the effective use of scholarly resources, to present and support economic thinking.
    In this unit you will cover key elements of both micro and macro economic theory. In microeconomics, the unit will focus on understanding how competitive markets allocate resources through the interaction of demand and supply, what happens when markets fail and why and how governments intervene in markets (for better and worse). In macro economics the unit will examine key macro economic variables (economic growth, inflation, unemployment and international trade) and the role of macroeconomic policy tools (fiscal and monetary policy) in the management of a stable economy and future economic prosperity of the nation. Throughout the unit, students broader economic understanding of Australian and global economic issues will be developed through the use of contemporary real world examples and issues.
    Approaches to Teaching and Learning
    This unit utilises a blended learning approach with a mix of face-to-face and online learning activities. There will be a weekly lecture and tutorial, with opportunities to access these learning activities face to face and online. Examples of additional, online learning opportunities include: MyEconLab, a dedicated learning platform which provides structured and self-directed learning, the BSB113 connected short video series that bridges the gap between the weekly lecture and tutorial and social media support via a dedicated moderated FaceBook page.
    Assessment name: Online Quiz
    Description: The online quizzes will be weekly and relate to the material delivered in the respective lectures weeks 1-6 (and further developed in tutorials weeks 2-7). The online quiz is designed to provide students with an immediate opportunity to apply their understanding of the concepts. This assessment is based on developing progressive learning and is therefore both formative and summative.
    Length/Duration: Weekly online quiz/approx 30 minutes per week.
    Formative or Summative: Formative and Summative
    Relates to objectives: 1, 2
    Weight: 20
    Internal or external: Internal
    Group or individual: Individual
    Due date: Weeks 3-8
    Assessment name: Essay
    Description: A critical analysis of contemporary economics issues informed by economic theory and appropriate supporting evidence.
    Length/Duration: 1,250 words
    Formative or Summative: Formative and Summative
    Relates to objectives: 1, 2, 3, 4
    Weight: 30
    Internal or external: Internal
    Group or individual: Individual
    Due date: Week 10
    Assessment name: End of Semester Examination
    Description: The examination will be closed book. It will consist of both theoretical and applied economic questions, and will examine work covered in lectures weeks 8-12, tutorials weeks 9-13 inclusive.
    Length/Duration: 2 hours (no perusal)
    Formative or Summative: Summative
    Relates to objectives: 1, 2, 3
    Weight: 50
    Internal or external: Internal
    Group or individual: Individual
    Due date: Central Exam Period

Course Disclaimer

Courses and course hours of instruction are subject to change.

Eligibility for courses may be subject to a placement exam and/or pre-requisites.

Some courses may require additional fees.

Credits earned vary according to the policies of the students' home institutions. According to ISA policy and possible visa requirements, students must maintain full-time enrollment status, as determined by their home institutions, for the duration of the program.