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 2024 in Semester 1 and Semester 2 at Caulfield and Clayton. It has no prerequisites and unlocks 4 units, leading on to 29 units in all.
- Credit points
- 6
- Offered in 2024
- Semester 1, Semester 2
- Caulfield, Clayton
- Assessment
- Exam 50%
- and 1 other task
- Workload
- 144 hours
- per semester
This is the 2024 handbook entry. See the 2027 entry.
Reviews
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Requisites
Before ECX2953
Prohibitions
You can't enrol if you have passed any of these.
- ECB1101Introductory microeconomicsNo reviews yet
- ECB1102Introductory macroeconomicsNo reviews yet
- ECF5953EconomicsNo reviews yet
- ECW1101Introductory microeconomicsNo reviews yet
- ECW1102Introductory macroeconomicsNo reviews yet
- ECC1000Principles of microeconomicsNo reviews yet
- ECC1100Principles of macroeconomicsRated 4.0 out of 5 from 1 review
- ECX1200MacroeconomicsNo reviews yet
- ECC5953EconomicsNo reviews yet
- ECF1100MicroeconomicsNo reviews yet
- ECF1200MacroeconomicsNo 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, 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 2024
| Teaching period | Campus | Mode |
|---|---|---|
| First semester | Caulfield | Flexible |
| First semester | Clayton | Flexible |
| Second semester | Caulfield | Flexible |
| Second semester | Clayton | Flexible |
Assessment
- Within semester assessment50%
- Examination50%
Learning outcomes
When you finish this unit, you should be able to:
- 1
have a basic understanding of the methodology and principles of economics
- 2
have a basic understanding of microeconomics and macroeconomics
- 3
present arguments and make decisions in the economic environment.
Workload and teaching
- Seminars24 hours
- Tutorials11 hours
- Teaching approachActive learning
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.
Contacts
- Chief Examiners
- Associate Professor He-Ling Shi
- Dr Wenli Cheng
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 29 units in all.
When is ECX2953 offered?
In 2024, ECX2953 runs in Semester 1 and Semester 2 at Caulfield and 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 1 other task.