Economics for Leaders is designed to familiarise Master of Business Administration students with economic concepts and principles which are useful in understanding the general economic environment within which businesses and other organisations operate. It provides students with a solid foundation of economics knowledge for a senior management career.

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 examines 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. explain introductory, canonical models of consumer and producer behaviour and of 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
4. apply evidence-based management techniques with an economics perspective

Research-Led Teaching

This course incorporates seminal and contemporary research published in academic journals and working paper series, from which students will be exposed to economic data, statistical methodology, and research practices that can be applied to their own work throughout the semester and in their academic career.

Additional Course Costs

There are no additional class costs

Examination Material or equipment

Open book 2h written Exam

Required Resources

Required resources for this class, mainly academic articles and other readings, will be posted on Wattle.

Recommended Resources

Recommended Textbook: Principles of Economics by Karlan, D., Bajada, C., Melatos, M. & Morduch, J. 2017 McGraw-Hill. E-book availability is being investigated by ANU Library. More details will be made available when known.

A good online resource for general economics, both micro- and macro-, can be found at CORE, The Economy 1.0, available at http://www.core-econ.org. Students may find this a useful supplement. Textbook is available through Library and at ANU bookshop.

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 to Economics for Leaders: Micro- and Macroeconomics
2	Microeconomics: Demand and Supply
3	Microeconomics: Production and Cost
4	Microeconomics: Market Structure and Pricing	Online problem set #1 (15% of total marks) – DUE 21-3-21 23:59
5	Microeconomics: Economics of Strategy and Game Theory
6	Microeconomics: Public Economics and Market Failures
7	Macroeconomics: Measuring Economic Performance and Economic Growth
8	Macroeconomics: Aggregate Demand and Aggregate Supply	Online problem set #2 (15% of total marks) – DUE 02-5-20 23:59
9	Macroeconomics: Employment and Unemployment
10	Macroeconomics: Money, Banking and Fiscal Policy
11	Macroeconomics: International Macroeconomics	Essay (40% of total marks) – DUE 23-05-21 23:59
12	The Future: The Gig Economy

Tutorial Registration

Lectures will be Dual-delivery (Live in classroom with online participants joining through Zoom). ECON8077 will be delivered in the format of 3h Workshop every week. Both - on-campus and off-campus students can take the course. The 3h Workshop every week will combine Lecture and Tutorial format, so no need for tutorial registration. Additional 1h Zoom-Q&A consultation hour will be offered for off-campus students to support remote learning.

Assessment Summary

Assessment task	Value	Due Date	Return of assessment	Learning Outcomes
Online problem set #1 (15% of total marks)	15 %	21/03/2021	01/04/2020	1,2,3,4
Online problem set #2 (15% of total marks)	15 %	02/05/2020	12/05/2020	1,2,3,4
Essay (40% of total marks)	40 %	23/05/2020	03/06/2020	1,2,3,4
Final Examination (30% of total marks)	30 %	20/06/2020	26/06/2020	1,2,3,4

* 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.

Participation

Due to travel restrictions this course will be largely delivered through online platforms. Aspects of the delivery will be asynchronous. However, there will be synchronous activities also taking place (both online and on campus). Details on the delivery of this course and expectations of student participation are outlined in further detail on the Wattle course site in O-week. Attendance at synchronous activities, while not compulsory, is expected in line with “Code of Practice for Teaching and Learning”, clause 2 paragraph (b).

Examination(s)

There will be a final examination, 120 minutes with 15 minutes reading time. 30% of Final Mark. Open Books Exam.

Assessment Task 1

Online problem set #1 (15% of total marks)

There will be two online problem sets during the course of the semester. Each one will be worth 15% of the total course grade (adding up to a total of 30% of the total across the two assignments). Further details will be posted on Wattle before the beginning of the semester. 

Assessment Task 2

Online problem set #2 (15% of total marks)

There will be two online problem sets during the course of the semester. Each one will be worth 15% of the total course grade (adding up to a total of 30% of the total across the two assignments). Further details will be posted on Wattle before the beginning of the semester. 

Assessment Task 3

Essay (40% of total marks)

There is one major essay to be turned in over the course of the semester which will require consideration of the major themes covered in the class. Essay marking will reflect the student’s understanding of the material, effort, exposition, and creativity. Further details on the essay topic and assessment criteria will be posted on Wattle before the beginning of the semester.

Assessment Task 4

Final Examination (30% of total marks)

Final Examination: 120 minutes with 15 minutes reading time. Worth 30% of course mark. The questions will vary in complexity ranging from basic questions up through questions of increasing complexity and requiring creativity and higher analytic and communication skills. Further details will be posted on Wattle before the beginning of the semester. Open Questions, Short-answer Questions, Min-Cases, problem sets will be offered.

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. Extensions may be granted 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