ECX2953 Economics
Faculty of Business and Economics
ECX2953 Economics is a level 2, 6-credit-point, undergraduate unit from the Faculty of Business and Economics, offered in 2027 in Semester 1 and Semester 2 at Clayton. It has no prerequisites and unlocks 4 units, leading on to 28 units in all.
- Credit points
- 6
- Offered in 2027
- Semester 1, Semester 2
- Clayton
- Assessment
- Exam 50%
- and 3 other tasks
- Workload
- 144 hours
- per semester
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Requisites
Before ECX2953
Prohibitions
You can't enrol if you have passed any of these.
- ECM1953Principles of economicsNo reviews yet
- ECC5953EconomicsNo reviews yet
- ECF5953EconomicsNo reviews yet
- ECC1000Principles of microeconomicsNo reviews yet
- ECF1100MicroeconomicsNo reviews yet
- ECB1101Introductory microeconomicsNo reviews yet
- ECW1101Introductory microeconomicsNo reviews yet
- ECC1100Principles of macroeconomicsNo reviews yet
- ECF1200MacroeconomicsNo reviews yet
- ECB1102Introductory macroeconomicsNo reviews yet
- ECW1102Introductory macroeconomicsNo reviews yet
- ECX1200MacroeconomicsNo reviews yet
- ECF5954Economics
After ECX2953
4 units list ECX2953 as a prerequisite or corequisite.
Enrolment rules
If you are enrolled in course B6001 you cannot undertake this unit.
You must be enrolled in B2006, B2008, B2017, B2019, B2020, B2021, B2022,B2023, B2025, B2028, B2045, B2046, B2047, B2049, B2050, B2051, D3007, E3005, F2007, F2011, L3005 to undertake this unit.
Overview
Microeconomics: scarcity; economic choice; economic systems; economic ideology; demand and supply analysis; consumer behaviour and elasticity; costs of production and profit maximisation; perfect competition and monopoly. Macroeconomics: aggregate demand and aggregate supply; Keynesian versus Neoclassical approaches; the money market and monetary policy; the government budget deficit and fiscal policy; the foreign exchange market and exchange rate policy; unemployment and inflation; the current and capital accounts.
Offerings in 2027
| Teaching period | Campus | Mode |
|---|---|---|
| First semester | Clayton | On campus |
| Second semester | Clayton | On campus |
Assessment
- Presentation15%
- Quiz / Test20%
- Written15%
- Examination50%
Assessment details may change. Please refer to the assessment information in Moodle closer to the start of the teaching period.
Learning outcomes
When you finish this unit, you should be able to:
- 1
identify and explain key economic methodologies and principles
- 2
analyse and apply fundamental concepts of microeconomics and macroeconomics to evaluate real-world economic issues and public policies
- 3
critically evaluate economic data and construct evidence-based arguments to support decision-making in various economic contexts.
Workload and teaching
- Seminars22 hours
- Tutorials11 hours
- Assessments2 hours
- Teaching approachActive learning
- Teaching approachProblem-based learning
- Teaching approachResearch activities
Minimum total expected workload to achieve the learning outcomes for this unit is 144 hours per semester typically comprising a mixture of scheduled learning activities and independent study. Independent study may include associated readings, assessment and preparation for scheduled activities. You are expected to complete all pre-class activities prior to your scheduled class, and post-class activities should be completed after your scheduled class. Learning activities may include a combination of teacher directed, peer directed and online engagement activities.
This unit engages you in actively applying your knowledge, skills and attributes in interactive, collaborative and reflective activities.
This unit includes problem-based learning approaches, where you engage in research, integrate theory and practice and apply knowledge and skills to develop viable solutions in response to a problem or set of problems.
This unit allows you to develop your research skills by engaging in structured inquiry using a systematic approach and discipline-specific methodologies.
Learning resources
Required resources
- Gans, King, Stonecash, Byford, and Mankiw, Principles of Microeconomics 9th Edition, Cengage Learning, Copyright 2024. (Micro)
- Stonecash, Gans, King, Byford, Ivanovski, and Mankiw, Principles of Macroeconomics 9th Edition, Cengage Learning, Copyright 2024. (Macro)
Contacts
- Chief Examiners
- Associate Professor Quoc-Anh Do
- Associate Professor He-Ling Shi
Common questions
What are the prerequisites for ECX2953?
ECX2953 has no prerequisites, but enrolment rules apply.
What can I take after ECX2953?
ECX2953 is a prerequisite or corequisite for 4 units, including BFC2140, BFF2140, BFX2140 and ECX5001. Those lead on to 28 units in all.
When is ECX2953 offered?
In 2027, ECX2953 runs in Semester 1 and Semester 2 at Clayton.
How much work is ECX2953?
The handbook expects about 144 hours of study across the semester. No students have rated its difficulty yet.
Does ECX2953 have an exam?
Yes. The exam is worth 50% of the final mark, alongside 3 other tasks.