Enrolments for 2022 have closed.
Principles of Economics
Undergraduate | USA-ECON1010 | 2022
Course information for 2022 intake View information for 2024 course intake
- Study method
- 100% online
- Assessments
- Subject may require attendance
- Entry requirements
- No ATAR needed,
- No prior study
- Duration
- 10 weeks
FEE-HELP available
Principles of Economics
About this subject
By the end of this 10-week course, you’ll be able to:
- Describe and utilise the fundamental tools, methods and language of economics to analyse resource allocation issues.
- Explain some of the economic factors underlying individual decision-making, markets and firms.
- Describe the impact of incentives and use economic models to illustrate how agents and markets respond to incentives.
- Identify the limitations of the market mechanism and analyse the role of government in affecting markets and decision-making in the general economy.
- Apply economic principles and concepts to analyse business cycles and monetary and fiscal policy in an open macroeconomy, and to demonstrate the significance of trade and globalisation.
- Demonstrate Business Enterprise Skills
- Economic Foundations and Models Economic Problem and Gains from Trade
- Understanding where the prices come from: Demand and Supply
- Introducing the concept of Elasticity of demand and Incidence of Tax
- Production and Cost
- Perfect Competition
- Monopoly and Oligopoly
- Monopolistic Competition and Market Failure
- Introduction to Open Macroeconomy
- Role of Monetary and Fiscal Policy using AD/AS Analysis
An understanding of economics can change the way you see the world. This course introduces you to the fundamental principles of economics and explores how they can impact consumer behaviour, business decisions, government policies and important social issues like climate change and poverty.
Learning economics will also help you examine your thinking, developing your ability to critically analyse issues and arguments. These thinking skills are an important component of becoming a positive contributor to society and will position you well no matter where your career takes you.
UniSA Online’s 10-week short courses give you the flexibility to upskill in a certain area, stay current with developments in your field, diversify your knowledge, or even explore a new direction in your career – without having to commit to the time and cost of a full university degree.
Delivered 100% online, you’ll be able to study where and when it suits you. Access online academic and student support seven days a week, fit study around work and life commitments, view learning resources 24/7, and log in to the interactive online environment anywhere, any time and on any device.
This is a first-year course from UniSA Online’s Accounting degree. Please note: you are responsible for completing any relevant prerequisite courses before enrolling in this course.
Should your course have an exam it will be scheduled for Australian Central Standard Time or Australian Central Daylight Time, depending on the time of the year.
- Continuous assessment (50%)
- Examination (50%)
For textbook details check your university's handbook, website or learning management system (LMS).
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Entry requirements
No entry requirements
Study load
- 0.125 EFTSL
- This is in the range of 10 to 12 hours of study each week.
Equivalent full time study load (EFTSL) is one way to calculate your study load. One (1.0) EFTSL is equivalent to a full-time study load for one year.
Find out more information on Commonwealth Loans to understand what this means to your eligibility for financial support.
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Gain Uni credit
Most single subjects are part of a full degree. That means if you’re keen to keep learning, you can gain credit for the subjects you’ve successfully completed.
What to study next?
Once you’ve completed this subject it can be credited towards one of the following courses
UndergraduateGRF-BUS-DEG
Single subject FAQs
Single subjects are the individual components that make up a degree. With Open Universities Australia, you’re able to study many of them as stand-alone subjects, including postgraduate single subjects, without having to commit to a degree.
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