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ECO130 Business Economics (8)

Abstract

This subject introduces students to the basic economic concepts and principles. Students will gain a sufficient understanding of the concepts to apply them in both work and everyday life. The subject provides a foundation for further studies in economics and more generally in business, management, and marketing.  Students will be also able to follow discussions about the current business environment and effectively participate in the formulation of business strategies. The subject is designed as a combination of micro and macro issues at an introductory level. The first half of the subject introduces students to the tools of economic analysis, an understanding of price formation, the behaviour of firms and consumers and the basic models of market structure and their efficiency. The second half of the subject covers the key macroeconomic concepts such as inflation and unemployment, and fiscal and monetary policy.

+ Subject Availability Modes and Location

Session 1
OnlineBathurst Campus
Session 2
OnlineBathurst Campus
On CampusAlbury-Wodonga Campus
On CampusBathurst Campus
On CampusCSU Study Centre Melbourne
On CampusCSU Study Centre Sydney
On CampusCanberra Inst. of Technology
On CampusNorthern Sydney Institute
On CampusPort Macquarie
On CampusWagga Wagga Campus
Session 3
OnlineBathurst Campus
On CampusCSU Study Centre Melbourne
On CampusCSU Study Centre Sydney
Continuing students should consult the SAL for current offering details: ECO130
Where differences exist between the Handbook and the SAL, the SAL should be taken as containing the correct subject offering details.

Subject information

Duration Grading System School:
One sessionHD/FLSchool of Accounting and Finance

Enrolment restrictions

Not available to students who have completed ECO100, ECO110, ECO120, RMBU1642 or RMBU1639 Sydney University Orange Campus economic subjects.
Incompatible subject(s)Related subject(s)
ECO100 ECO110 ECO120 ECO120 There is significant overlap between the content in ECO120 and the content in the second half of ECO130
ECO100 ECO120 replaced ECO100 in 2000, so there is significant overlap with ECO100 and ECO130
ECO110 There is significant overlap between the content in ECO110 and the content in the first half of ECO130

Learning Outcomes

Upon successful completion of this subject, students should:
  • be able to apply economic concepts and principles to daily life;
  • be able to explain the economic decision making of producers and consumers and their interaction in the market place;
  • be able to describe fiscal and monetary policy in Australia;
  • be able to construct graphs and diagrams to demonstrate how economic concepts and principles work in practice;
  • be able to analyse the impact of monetary and fiscal policy on major economic variables such as inflation, unemployment and gross domestic product.

Syllabus

The subject will cover the following topics:
  • Demand and supply (D-S) model;
  • Using the D-S model to understand how markets work, price elasticity of demand and supply, government interventions in markets such as taxes public goods, price controls and competitive markets versus monopolies:
  • Aggregate demand and aggregate supply (AD-AS model);
  • Applications of the AD-AS model to understand fiscal and monetary policies, unemployment, inflation, international trade and exchange rates.

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The information contained in the 2018 CSU Handbook was accurate at the date of publication: 20 October 2017. The University reserves the right to vary the information at any time without notice.