Built Environment Economics

UTS

Course Description

  • Course Name

    Built Environment Economics

  • Host University

    UTS

  • Location

    Sydney, Australia

  • Area of Study

    Construction Management, Design Management, Economics, Industrial Design

  • Language Level

    Taught In English

  • Prerequisites

    This unit is for construction/built environment/architetcure study majors

  • Course Level Recommendations

    Lower

    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

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

    Description
    Graduate of this subject have the ability to apply economic theory and methods to critically assess economic conditions and current economic policies. The subject is designed to foster an understanding of macroeconomic theory and policy in a modern, open economy. Students are introduced to key concepts in economics and the interaction of demand, supply and prices. Macroeconomic theory and fundamentals, the business cycle and the role of fiscal and monetary policy are covered, and their effect on the property and construction industries explored. Topics such as technology and economic growth and the financial crisis of 2007 are also discussed. This subject is delivered through weekly lectures and tutorials, supported by online resources provided by Cengage through Mindtap, a new cloud-based system that Cengage describes as a 'Personal Learning Experience'. This blended learning approach has a combination of class time and online activities.
    Subject objectives
    On successful completion of this subject students will have achieved the following:
    P-5. Ability to demonstrate digital technology literacy and competency
    R-3. Ability to effectively engage critical and independent thinking in the interpretation of theory and its practical application
    R-4. Ability to apply research to facilitate critical thinking and problem solving processes
    R-5. Ability to source, evaluate and use information within defined parameters
    This subject also contributes to the faculty's five CAPRI graduate attribute categories (see 'Graduate Attribute Development') through the following course intended learning outcomes:
    Ability to demonstrate digital technology literacy and competency (P.05)
    Ability to effectively engage critical and independent thinking in the interpretation of theory and its practical application (R.3)
    Ability to apply research to facilitate critical thinking and problem solving processes (R.4)
    Ability to source, evaluate and use information within defined parameters (R.5)
    Contribution to the development of graduate attributes
    The objectives of this subject contribute to the Course Intended Learning Outcomes (ILOs) of its parent courses as follows:
    ILOs from BCPM
    P-5 ability to demonstrate digital technology literacy and competency
    R-3 ability to effectively engage critical and independent thinking in the interpretation of theory and its practical application
    R-4 ability to apply research to facilitate critical thinking and problem solving processes
    R-5 ability to source, evaluate and use information within defined parameters
    Teaching and learning strategies
    This subject is delivered through weekly lectures and tutorials, supported by a range of online resources, explained in detail below. This approach is called ?blended learning?, where there is a combination of class time and online activities. The teaching and learning strategies in this subject are directed at engaging the students with the topics covered by demonstrating the relevance of economic understanding to the property and construction industries and emphasizing the importance of the business cycle in the functioning of the economy. Some class time is given to discussing current economic events. The strategies used are: Lectures and Tutorials; Problem-based learning; and Group based assessment tasks, delivered through weekly lectures and tutorials, supported by a range of online resources. Teaching and learning strategies in this subject are directed at engaging the students with the topics covered by demonstrating their relevance to the property and construction industries and the importance of the business cycle in the functioning of the economy.
    Content
    The principal topics covered in this subject are:
    Introduction to economics: opportunity costs, the production possibilities frontier, supply and demand, and prices.
    Macroeconomic fundamentals: measuring the economy and economic activity, aggregate demand and supply, economic instability and fiscal policy.
    Monetary policy: the financial system, inflation, bond prices and the interest rate.
    Economic growth: expectations, resources, technology and institutions, economic events and crises.
    Assessment
    Assessment task 1:
    Online tests
    Intent:
    These are multiple choice tests of twenty questions done online, based on the topics covered in two lectures and their book chapters. Each test will be available for seven days, from Monday to Monday. You can only log in to UTS Online once to complete a test.
    Objective(s):
    This task addresses the following subject learning objectives:
    P-5 and R-5
    This task also addresses the following course intended learning outcomes that are linked with a code to indicate one of the five CAPRI graduate attribute categories (e.g. C.1, A.3, P.4, etc.):
    P.05 and R.5
    Weight: 40%
    Criteria:
    The Graduate Attributes this assessment develops and assessment criteria for this task are:
    BCPM P-5 ability to demonstrate digital technology literacy and competency
    BCPM R-5 ability to source, evaluate and use information within defined parameters
    Assessment task 2:
    Tutorials
    Intent:
    In the tutorials, small groups will be asked to discuss a question, or questions, related to the lecture topic, and provide answers on a task sheet that will be handed out at the start of the tutorial and handed back at the end.
    Objective(s):
    This task addresses the following subject learning objectives:
    R-4
    This task also addresses the following course intended learning outcomes that are linked with a code to indicate one of the five CAPRI graduate attribute categories (e.g. C.1, A.3, P.4, etc.):
    R.4
    Weight: 10%
    Criteria:
    The Graduate Attributes this assessment develops and assessment criteria for this task are:
    BCPM R-4 ability to apply research to facilitate critical thinking and problem solving processes
    Assessment task 3:
    Formal exam
    Intent:
    There is a two hour exam at the end of the semester with a mixture of multiple choice, short answer and worked diagram questions.
    Objective(s):
    This task addresses the following subject learning objectives:
    R-3
    This task also addresses the following course intended learning outcomes that are linked with a code to indicate one of the five CAPRI graduate attribute categories (e.g. C.1, A.3, P.4, etc.):
    R.3
    Weight: 50%
    Criteria:
    The Graduate Attributes this assessment develops and assessment criteria for this task are:
    BCPM R-3 ability to effectively engage critical and independent thinking in the interpretation of theory and its practical application

Course Disclaimer

Courses and course hours of instruction are subject to change.

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.