Business Economics ECON8069 introduces economic concepts and principles which are useful in understanding the general economic environment within which businesses and other organisations operate.

Microeconomics examines how consumers and firms make decisions and how they interact with each other in markets. Topics covered include supply and demand, consumer and firm behaviour, price determination and the operation of markets, situations of market failure, and the impact and role of government on the economy.

Macroeconomics studies the entire economy and its wellbeing. Macroeconomics looks at the effect of factors such as inflation, exchange rates, interest rates and trade on the well being and stability of the economy.

Learning Outcomes

Upon successful completion, students will have the knowledge and skills to:

1. demonstrate an understanding of the introductory, canonical models of consumer and producer behaviour and of the macroeconomy.
2. demonstrate a basic understanding of the operation of a modern economy.
3. evaluate the effects of government interventions in individual markets and in the macroeconomy.

Research-Led Teaching

Theory and examples covered in the course are derived from research in the field of economics. In addition, students will have the opportunity to themselves engage in a small research tasks to problem solve throughout the semester.

Examination Material or equipment

The only permitted materials in the exam are a non-programmable calculator.

Required Resources

Text Book: Acemoglu, D., Laibson, D., and List, J.A, 2019, Economics, Global Edition, 2nd Edition, Pearson, Australia. You can purchase the textbook from the bookstore on campus, and a copy will also be available for short term loan in the Chifley Library.

Staff Feedback

Students will be given feedback in the following forms in this course:

• written comments
• verbal comments
• feedback to whole class, groups, individuals, focus group etc

Student Feedback

ANU is committed to the demonstration of educational excellence and regularly seeks feedback from students. Students are encouraged to offer feedback directly to their Course Convener or through their College and Course representatives (if applicable). The feedback given in these surveys is anonymous and provides the Colleges, University Education Committee and Academic Board with opportunities to recognise excellent teaching, and opportunities for improvement. The Surveys and Evaluation website provides more information on student surveys at ANU and reports on the feedback provided on ANU courses.

Class Schedule

Week/Session	Summary of Activities	Assessment
1	Introduction; Demand
2	Consumers & Incentives; Supply
3	Producers & Incentives
4	Government and the Economy
5	Perfect Competition	problem set 1 due
6	Imperfect Competition	possible mid-semester exam
7	Defining and measuring macroeconomic aggregates	possible mid-semester exam
8	Aggregate Incomes & Economic Growth
9	Employment & Unemployment
10	Monetary System	problem set 2 due; short research essay due
11	Short Run economic fluctuations
12	Trade & Open economy

Tutorial Registration

You are expected to attend one tutorial each week from Week 2 onwards. You must enrol in a tutorial using the Wattle site for this course, and attend the tutorial in which you are enrolled. A selection of tutorials will be open for enrolment prior to the beginning of the semester - the remaining tutorials will be open in week 1 of Semester. When tutorials are available for enrolment, follow these steps:

1.   Log on to Wattle, and go to the course site

2.   Click on the link “Tutorial enrolment”

3.   On the right of the screen, click on the tab “Become Member of…..” for the tutorial class you wish to enter

4.   Confirm your choice

If you need to change your enrolment, you will be able to do so by clicking on the tab “Leave group….” and then re-enrol in another group. You will not be able to enrol in groups that have reached their maximum number. Please note that enrolment in ISIS must be finalised for you to have access to Wattle.

When tutorials are available for enrolment, follow these steps:

Assessment Summary

Assessment task	Value	Due Date	Return of assessment	Learning Outcomes
Problem Set 1	5 %	19/08/2019	30/08/2019	1,2,3
Mid Semester Exam	40 %	26/08/2019	04/10/2019	1,2,3
Problem Set 2	5 %	07/10/2019	18/10/2019	1,2,3
Short Research Essay	10 %	11/10/2019	30/10/2019	1,2,3
Final Examination	40 %	31/10/2019	26/11/2019	1,2,3

* If the Due Date and Return of Assessment date are blank, see the Assessment Tab for specific Assessment Task details

Policies

ANU has educational policies, procedures and guidelines, which are designed to ensure that staff and students are aware of the University’s academic standards, and implement them. Students are expected to have read the Academic Misconduct Rule before the commencement of their course. Other key policies and guidelines include:

• Student Assessment (Coursework) Policy and Procedure
• Special Assessment Consideration Policy and General Information 
• Student Surveys and Evaluations
• Deferred Examinations
• Student Complaint Resolution Policy and Procedure

Assessment Requirements

The ANU is using Turnitin to enhance student citation and referencing techniques, and to assess assignment submissions as a component of the University's approach to managing Academic Integrity. For additional information regarding Turnitin please visit the ANU Online website. In rare cases where online submission using Turnitin software is not technically possible; or where not using Turnitin software has been justified by the Course Convener and approved by the Associate Dean (Education) on the basis of the teaching model being employed; students shall submit assessment online via ‘Wattle’ outside of Turnitin, or failing that in hard copy, or through a combination of submission methods as approved by the Associate Dean (Education). The submission method is detailed below.

Moderation of Assessment

Marks that are allocated during Semester are to be considered provisional until formalised by the College examiners meeting at the end of each Semester. If appropriate, some moderation of marks might be applied prior to final results being released.

Assessment Task 1

Problem Set 1

The problem set with consist of MCQ and short answer questions covering micro-economic theory delivered in lectures from weeks 1 to 4. Questions will be available in week 3 with the submission due in week 5. The problem set is worth 5% of the total grade for the course. Further details and a grading matrix will be provided on wattle.

Assessment Task 2

Mid Semester Exam

The mid-semester exam will cover material delivered lectures in weeks 1 – 6 inclusive (the microeconomics component of the course). The exam will be held as determined by Central Examinations (typically in week 6 or week 7 of the semester). The exam will go for 3 hours and consist of both multiple choice and long answer questions. Details and a practice exam will be made available on Wattle closer to the date. This exam in NOT redeemable and is worth 40% of the total course mark.

Assessment Task 3

Problem Set 2

The problem set with consist of MCQ and short answer questions covering macro-economic theory delivered in lectures from weeks 7 to 9. Questions will be available in week 8 with the submission due in week 10.The problem set is worth 5% of the total grade for the course. Further details and a grading matrix will be provided on wattle.

Assessment Task 4

Short Research Essay

Students will be required to choose a research question from a collection of 4 or 5 topics. The essay involves collecting relevant macroeconomic data on at least two countries, critically evaluating this data and how economic theory explains the data. The essay is a maximum of 800 words and is worth 10% of the final course grade. Questions will be available in week 7. More details and a marking rubric will be available on Wattle.

Assessment Task 5

Final Examination

The final exam will cover material delivered lectures in weeks 7 – 12 inclusive (the macroeconomics component of the course). The exam will be held as determined by Central Examinations. The exam will go for 3 hours and consist of both multiple choice and long answer questions. Details and a practice exam will be made available on Wattle closer to the date. The final exam is worth 40% of the final grade for the course.

Academic Integrity

Academic integrity is a core part of the ANU culture as a community of scholars. At its heart, academic integrity is about behaving ethically, committing to honest and responsible scholarly practice and upholding these values with respect and fairness.

The ANU commits to assisting all members of our community to understand how to engage in academic work in ways that are consistent with, and actively support academic integrity. The ANU expects staff and students to be familiar with the academic integrity principle and Academic Misconduct Rule, uphold high standards of academic integrity and act ethically and honestly, to ensure the quality and value of the qualification that you will graduate with.

The Academic Misconduct Rule is in place to promote academic integrity and manage academic misconduct. Very minor breaches of the academic integrity principle may result in a reduction of marks of up to 10% of the total marks available for the assessment. The ANU offers a number of online and in person services to assist students with their assignments, examinations, and other learning activities. Visit the Academic Skills website for more information about academic integrity, your responsibilities and for assistance with your assignments, writing skills and study.

Online Submission

You will be required to electronically sign a declaration as part of the submission of your assignment. Please keep a copy of the assignment for your records. Unless an exemption has been approved by the Associate Dean (Education) submission must be through Turnitin.

Hardcopy Submission

For some forms of assessment (hand written assignments, art works, laboratory notes, etc.) hard copy submission is appropriate when approved by the Associate Dean (Education). Hard copy submissions must utilise the Assignment Cover Sheet. Please keep a copy of tasks completed for your records.

Late Submission

Individual assessment tasks may or may not allow for late submission. Policy regarding late submission is detailed below:

• Late submission not permitted. If submission of assessment tasks without an extension after the due date is not permitted, a mark of 0 will be awarded.

Referencing Requirements

Accepted academic practice for referencing sources that you use in presentations can be found via the links on the Wattle site, under the file named “ANU and College Policies, Program Information, Student Support Services and Assessment”. Alternatively, you can seek help through the Students Learning Development website.

Extensions and Penalties

Extensions and late submission of assessment pieces are covered by the Student Assessment (Coursework) Policy and Procedure. The Course Convener may grant extensions for assessment pieces that are not examinations or take-home examinations. If you need an extension, you must request an extension in writing on or before the due date. If you have documented and appropriate medical evidence that demonstrates you were not able to request an extension on or before the due date, you may be able to request it after the due date.

Privacy Notice

The ANU has made a number of third party, online, databases available for students to use. Use of each online database is conditional on student end users first agreeing to the database licensor’s terms of service and/or privacy policy. Students should read these carefully. In some cases student end users will be required to register an account with the database licensor and submit personal information, including their: first name; last name; ANU email address; and other information.
In cases where student end users are asked to submit ‘content’ to a database, such as an assignment or short answers, the database licensor may only use the student’s ‘content’ in accordance with the terms of service – including any (copyright) licence the student grants to the database licensor. Any personal information or content a student submits may be stored by the licensor, potentially offshore, and will be used to process the database service in accordance with the licensors terms of service and/or privacy policy.
If any student chooses not to agree to the database licensor’s terms of service or privacy policy, the student will not be able to access and use the database. In these circumstances students should contact their lecturer to enquire about alternative arrangements that are available.

Distribution of grades policy

Academic Quality Assurance Committee monitors the performance of students, including attrition, further study and employment rates and grade distribution, and College reports on quality assurance processes for assessment activities, including alignment with national and international disciplinary and interdisciplinary standards, as well as qualification type learning outcomes.

Since first semester 1994, ANU uses a grading scale for all courses. This grading scale is used by all academic areas of the University.

Support for students

The University offers students support through several different services. You may contact the services listed below directly or seek advice from your Course Convener, Student Administrators, or your College and Course representatives (if applicable).

• ANU Health, safety & wellbeing for medical services, counselling, mental health and spiritual support
• ANU Diversity and inclusion for students with a disability or ongoing or chronic illness
• ANU Dean of Students for confidential, impartial advice and help to resolve problems between students and the academic or administrative areas of the University
• ANU Academic Skills and Learning Centre supports you make your own decisions about how you learn and manage your workload.
• ANU Counselling Centre promotes, supports and enhances mental health and wellbeing within the University student community.
• ANUSA supports and represents undergraduate and ANU College students
• PARSA supports and represents postgraduate and research students