You are currently viewing the 2018 version of this course. Change to 2019

Subject details

Students who successfully complete this subject 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.
    • Economic concepts of opportunity cost and comparative advantage
    • Market behaviour
    • Market failure
    • Macroeconomic indicators
    • Business cycle and economic growth
    • Government stabilisation policy

Others

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.

Special requirements

No special requirements

The aim of this subject 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.

  • Portfolio — Individual Assessment (40-60%)
  • Invigilated Exam — Individual (40-60%)

Textbook information is pending.

Related degrees

undergraduate SWI-BUS-DEG-2018

Bachelor of Business

close
  • Bachelor of Business Core Subjects
  • Major in Advertising (this Major is currently in teach-out)
  • Major in Economics
  • Major in Finance
  • Major in Information Systems
  • Major in Marketing
  • Co-Major in Advertising (this Co-Major is currently in teach-out)
  • Co-Major in Economics (for Finance students)
  • Co-Major in Economics (not for Finance students)
  • Co-Major in Finance (cannot be taken with the Finance or Economics Major)
  • Co-Major in Finance (for Economics students)
  • Co-Major in Information Systems
  • Co-Major in Marketing (cannot be taken with the Marketing Major)