Economic Principles - 2018

Unit summary


  • Level of Study: Undergraduate Level 1
  • Study load: 0.125 EFTSL
  • Delivery method: Fully Online
  • Prerequisites: Yes
  • Duration: 13 weeks
  • Government loans available: FEE-HELP, HECS-HELP
  • Availability for 2017: SP1 , SP3
  • Availability for 2018: SP1 , SP3
  • Assessment: Assessment - Individual (50%) , Invigilated Exam - Individual (50%)

Unit provided by

2018 Fees
Domestic 3,070.00
Domestic continuing 1,465.00
HECS 1,368.00
International 3,320.00
International continuing 1,715.00

Tuition fees are reduced for continuing registered SWI students.
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The aim of this unit is to provide students with an introduction to microeconomic and macroeconomic theory with business and government policy applications. Students will use economic concepts to improve decision making in business and government including; how prices and output are set by firms to maximise profit, and how firms respond to changes in market conditions; how key macroeconomic indicators are used to determine macroeconomic conditions and how this information is used by economic agents; the various mechanisms available to the government and reserve bank to address market failure and adverse changes to macroeconomic conditions.

Students who successfully complete this Unit should be able to:

  1. Use economic indicators and models to understand and analyse real-world situations
  2. Use economic concepts and knowledge to understand, explain and evaluate decision making by individuals, firms and government
  3. Describe economic outcomes in markets and how these are affected by market structure and the macroeconomic environment
  4. Identify appropriate business and government strategies to achieve positive outcomes (such as increase profit or reduce market failure or stabilise macroeconomic fluctuations)
  5. Analyse current economic issues and determine/evaluate responses by the relevant economic agents.
  • Assessment — Individual (50%)
  • Invigilated Exam — Individual (50%)
For more information on invigilated exams see Exams and results

If you are completing Swinburne finance or economics major/co-major you must complete ECO10004 + ECO20004 OR ECO10002 + ECO10003 - not mixtures of these two combinations.

This unit addresses the following topics.

1Economic concepts of opportunity cost and comparative advantage
2Market behaviour
3Market failure
4Macroeconomic indicators
5Business cycle and economic growth
6Government stabilisation policy

Each unit offered through OUA provides students with unit information that includes assessment topics and due dates, policy information and contact numbers for university support and academic staff. Study materials will also clearly outline each week's topic, readings, student activities and the format of all assessment.

This unit is a core requirement in the following courses:

This unit may be eligible for credit towards other courses:

  1. Many undergraduate courses on offer through OUA include 'open elective' where any OUA unit can be credited to the course. You need to check the Award Requirements on the course page for the number of allowed open electives and any level limitations.
  2. In other cases, the content of this unit might be relevant to a course on offer through OUA or elsewhere. In order to receive credit for this unit in the course you will need to supply the provider institution with a copy of the Unit Profile in the approved format, which you can download here. Note that the Unit Profile is set at the start of the year, and if textbooks change this may not match the Co-Op textbook list.

Textbook information for this unit is currently being updated and will be available soon. Please check back regularly for updates. Alternatively, visit the The Co-op website and enter the unit details to search for available textbooks.

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