- Economic concepts of opportunity cost and comparative advantage
- Market behaviour
- Market failure
- Macroeconomic indicators
- Business cycle and economic growth
- Government stabilisation policy
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.
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.
- Assignment 1 - Portfolio — Individual Assessment (40-60%)
- Assignment 2 - Invigilated Exam — Individual (40-60%)