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FSP006 - Foundation Economics

2024

Sector

Higher Education

Discipline

International Pathways

Credit Points

Equivalent Units

Prerequisites

Incompatible

Assumed Knowledge

Unit Description

This unit equips international students preparing to undertake an undergraduate course with foundation knowledge to undertake first year degree undergraduate study in a range of disciplines, notably Commerce This unit aims for students to:

Understand simple analytical techniques and models to promote an understanding of micro and macro economics
Inquire into and reason clearly and objectively about economic issues, by applying economic theory and skills to real word issues
Interpret and present economic data and arguments in a clear, concise and coherent manner
Develop an awareness of the interrelationship between macroeconomic events and the effects of government macroeconomic policy measures
Develop critical thinking, problem-solving and independent study skills

This unit looks at basic Microeconomic theory followed by the circular flow model, interdependence between macroeconomic sectors, aggregate demand aggregate supply model, Government macro-economic goals, measuring economic growth, Macroeconomic indicators, phases of a business cycle, monetary policy, fiscal policy, measurement of international trade and investment flow, and Economic integration, globalisation, free trade and protectionism.

Important Information

This unit is only available to students enrolled in ZFSP02 International Foundation Studies Program.

Unit Learning Outcomes

1.	Understand the economic problem, the need for economic decision making and the framework for the microeconomic analysis.
2.	Understand the framework for the macroeconomic analysis, including the circular-flow model and aggregate demand agrgegrate supply model.
3.	Identify the government's macroeconomic goals; including price stability, economic growth, full employment.
4.	Describe how economists measure macroeconomic activity (macroeconomic indicators), including national income, output, employment, inflation, balance of payments, terms of trade and the exchange rate.
5.	Analyse the business cycle, the external and internal influences on the level of macroeconomic activity, and the use of fiscal and monetary policies to stabilise the business cycle.
6.	Evaluate the challenges that globalisation presents to the macroeconomy.

Assessment Overview

	Assessment Task	Value (of total mark)	Related Learning Outcome/s
1.	Introductory Economics Concept Presentation (5mins) and submission (1page)	10%	1
2.	News Paper Article Reviews x 2 (300 words each)	20%	2,3,4,5,6
3.	Mid Term Test (60 mins)	10%	1,2,3
4.	Case study Part A ¿ 500 words	10%	2,3,4,5,6
5.	Case Study (1200 words) and mini presentation (5 mins) 25%	25%	2,3,4,5,6
6.	Test (90mins)	25%	1,2,3,4,5,6

Unit Availability

Year	Semester	Att Mode	Location	Learning Method	Timetable*
2024	Semester 2	Internal	CDU Waterfront Darwin	OLS

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Critical Dates

Important Dates for Students

Fee Information:
Fees and Payments
Student Services and Amenities Fees
2025 Domestic Unit Fees (PDF)