Queensland University of Technology
Area of Study
Taught In English
PrerequisitesEFB223 or EFB102
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.
Recommended U.S. Semester Credits3 - 4
Recommended U.S. Quarter Units4 - 6
Hours & Credits
OverviewSynopsis:This unit is concerned with the economic analysis of the decisions and actions of consumers, firms, and governments in modern economies. It focuses on the interplay between government, private firms, and consumers and on developing the student's ability to apply microeconomic concepts to a range of economic issues and problems. The theoretical and empirical content of this unit provides the basis for understanding the decisions and actions of consumers, firms and governments in modern economies with a focus on applying theories to real world problems.Learning OutcomesUpon completion of this unit, you should be able to:
Approaches to Teaching and LearningThis unit makes use of applications where possible, to expound the economic principles involved and to demonstrate the applicability of microeconomics to "real world" issues.One two-hour lecture is provided each week. The lecture program involves the presentation of theoretical and empirical material by the lecturer, with some opportunity for questions from students.A one-hour tutorial, organised in the format of a workshop is provided each week. The tutorial program depends integrally on student preparation of solutions to set questions, prior to the tutorial. The questions are designed to test basic understanding, critical analysis, and higher-level thinking, as well as applications of microeconomic principles to questions of an empirical or applied nature. The questions used for the tutorial program are also designed to prepare students for the end-of-semester examination.AssessmentAssessment name: Mid semester examinationDescription: Multiple choice questions.Length/Duration: 1 hour + ten minutes perusalFormative or Summative: Formative and SummativeRelates to objectives: 1 and 2Weight: 20Internal or external: InternalGroup or individual: IndividualDue date: Week 8Assessment name: End of semester examinationDescription: Problem-solving/discussion oriented exercises based on material covered in the unit. Length/Duration: 2 hours + ten minutes perusalFormative or Summative: SummativeRelates to objectives: 1, 2, 3Weight: 50Internal or external: InternalGroup or individual: IndividualDue date: Central exam periodAssessment name: Problem Solving TaskDescription: Multiple Choice QuestionsRelates to objectives: 1, 2 and 4Weight: 30Internal or external: InternalGroup or individual: IndividualDue date: Week 6
- Analyse the response of consumers to changes in price, income, and other important variables;
- Demonstrate and apply knowledge of the economic relationships between production and costs to analyse and evaluate the price and output decisions of firms in diverse market structures;
- Analyse and evaluate the impacts of externalities and public goods on market outcomes and the role of Government in addressing problems of market failures;
- Demonstrate self reflection, responsibility and accountability in relation to own learning and in applying economic knowledge and skills.
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.