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Acknowledgement of Country We respectfully acknowledge the Indigenous Elders, custodians, their descendants and kin of this land past and present. The Centre for Aboriginal Studies aspires to contribute to positive social change for Indigenous Australians through higher education and research.

Unit study package code: ECON1000

Mode of study: Internal

Tuition pattern summary: Note: For any specific variations to this tuition pattern and for precise information refer to the Learning Activities section.

Lecture: 1 x 2 Hours Weekly Tutorial: 1 x 1 Hours Weekly

This unit does not have a fieldwork component.

Credit Value: 25.0

Pre-requisite units: Nil

Co-requisite units: Nil

Anti-requisite units: Nil

Result type: Grade/Mark

Approved incidental fees: Information about approved incidental fees can be obtained from our website. Visit fees.curtin.edu.au/incidental_fees.cfm for details.

Unit coordinator: Title: Dr Name: Andrew Brennan Phone: +618 9266 2868 Email: Andrew.Brennan@curtin.edu.au Location: Building: 408 - Room: 3008

Teaching Staff: Name: Cheng-Lung Wang Phone: +65 65938000 Email: Cheng-Lung.Wang@curtin.edu.sg Location: Building: SING - Room: SING

Administrative contact: Name: Ann Tan Phone: +65 65938000 Email: assessments@curtin.edu.sg Location: Building: SING - Room: SING

Learning Management System: Blackboard (lms.curtin.edu.au)

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Unit Outline

ECON1000 Introductory Economics Trimester 3A, 2018

Faculty of Business and Law School of Economics and Finance

 ECON1000 Introductory Economics Singapore Campus 26 Oct 2018 School of Economics and Finance, Faculty of Business and Law

Page: 1 of 17 CRICOS Provider Code 00301J

The only authoritative version of this Unit Outline is to be found online in OASIS

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Syllabus Introduction to economic concepts and principles, Demand and supply analysis, Elasticity ,Economic Efficiency, Market failure, Introduction to macroeconomics, Unemployment and inflation, Model of aggregate demand and aggregate supply, Global markets.

Introduction “The ideas of economists ... are more powerful than is commonly understood. Indeed the world is ruled by little else.” John Maynard Keynes

Welcome to ECON1000 Introductory Economics and the School of Economics and Finance. Introductory Economics (ECON1000) is a one semester course that offers an introductory flavour of economics. The course aims to cover key economic concepts of both microeconomics and macroeconomics in an Australian as well as international context. The syllabus incorporates the following five (5) concepts in microeconomics: the economic way of thinking; demand and supply; elasticity; market efficiency; behavioural economics and asymmetric information. In addition, the syllabus covers the following five (5) topics in macroeconomics: economic growth (GDP), unemployment and inflation; the business cycle and aggregate demand/supply; monetary policy; fiscal policy; and exchange rates. The syllabus emphasises the application of economic theory to real-world events.

Economics is part of our everyday lives, when we’re studying, shopping, dealing with customers or finding a place to live. Economics effects everything in our lives—what we earn, how we work, where we learn, what we eat; the list goes on. An understanding of economics is very important in an uncertain world, where market forces have such a significant influence on our lives. Any student undertaking a course in commerce or business at the undergraduate level requires an understanding of economics—how markets work, the price system, macroeconomic activity, the global economy, economic policy, and so on. A good grasp of introductory principles of economics is crucial if we, as student collaborators and critical social-ecological observers, are to make informed judgements about solving real-world problems. Dearest student, enjoy your study-life time in 2018 (to 2019) with ECON1000! :-)

Unit Learning Outcomes All graduates of Curtin University achieve a set of nine Graduate Attributes during their course of study. These inform an employer that, through your studies, you have acquired discipline knowledge and a range of other skills and attributes which employers would value in a professional setting. Each unit in your course addresses the Graduate Attributes through a clearly identified set of learning outcomes. They form a vital part in the process referred to as assurance of learning. The learning outcomes notify you of what you are expected to know, understand or be able to do in order to be successful in this unit. Each assessment for this unit is carefully designed to test your knowledge of one or more of the unit learning outcomes. On successfully completing all of the assessments you will have achieved all of these learning outcomes.

Your course has been designed so that on graduating you will have achieved all of Curtin's Graduate Attributes through the assurance of learning processes in each unit.

Faculty of Business and Law School of Economics and Finance

 ECON1000 Introductory Economics Singapore Campus 26 Oct 2018 School of Economics and Finance, Faculty of Business and Law

Page: 2 of 17 CRICOS Provider Code 00301J

The only authoritative version of this Unit Outline is to be found online in OASIS

Curtin's Graduate Attributes

Learning Activities You should listen to one lecture series per week (~70 to 90 minutes) and attend one tutorial class i.e. 'workshop' per week (~44 to 50 minutes).

l The lectures cover the syllabus material. Lecture slides and other relevant learning resources are available on Blackboard (Bb). The lectures will summarise the relevant material covered in the textbook and will help focus your learning on the important concepts of the course. The workshop exercises and quizzes, article analysis and the final exam will be based on the material covered in the lectures.

l The tutorials (also referred to as 'workshops') are a key opportunity you will have for regular group discussion of topics covered in the lectures and textbook. Tutorials should provide you with a useful guide as to your understanding of the course material. Students are encouraged to participate in each tutorial class (i.e. 'workshop') by preparing answers to the set questions for each workshop. The ECON1000 (2018) Student Tutorial Guide and the questions set out for each workshop (in the teaching weeks) are available on Bb. Attend regularly and be prepared to contribute in some positive way to the discussion. This means reading the prescribed text, revising your lecture notes and preparing answers to the tutorial questions and problems. You should ask your tutor to explain any parts of the course that you have not understood or found difficult.