ECX5953 Economics
Faculty of Business and Economics
ECX5953 Economics is a level 5, 6-credit-point, postgraduate unit from the Faculty of Business and Economics, offered in 2023 in Semester 1 and Semester 2 at Caulfield and Clayton. It has no prerequisites and unlocks 2 units.
- Credit points
- 6
- Offered in 2023
- Semester 1, Semester 2
- Caulfield, Clayton
- Assessment
- Exam 50%
- and 1 other task
- Workload
- 144 hours
- per semester
This is the 2023 handbook entry. See the 2027 entry.
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Requisites
Before ECX5953
Prohibitions
You can't enrol if you have passed any of these.
After ECX5953
2 units list ECX5953 as a prerequisite or corequisite.
Enrolment rules
If you are enrolled in course B6001 you cannot 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 2023
| Teaching period | Campus | Mode |
|---|---|---|
| First semester | Caulfield | On campus |
| First semester | Clayton | On campus |
| Second semester | Caulfield | On campus |
| Second semester | Clayton | On campus |
| November teaching period | Caulfield | Block on |
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
- Tutorials12 hours
- Workshops36 hours
- Lectures24 hours
- Seminars24 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. The unit requires on average three/four hours of scheduled activities per week. Scheduled activities may include a combination of teacher directed learning, peer directed learning and online engagement.
This unit engages you in actively applying your knowledge, skills and attributes in interactive, collaborative and reflective activities.
Learning resources
Required resources
Aplia (on-line Quizzing) is required to complete this unit
Contacts
- Chief Examiners
- Associate Professor He-Ling Shi
- Dr Edwyna Harris
Common questions
What are the prerequisites for ECX5953?
ECX5953 has no prerequisites, but enrolment rules apply.
What can I take after ECX5953?
ECX5953 is a prerequisite or corequisite for 2 units, including ECX5300 and ECX5400.
When is ECX5953 offered?
In 2023, ECX5953 runs in Semester 1 and Semester 2 at Caulfield and Clayton.
How much work is ECX5953?
The handbook expects about 144 hours of study across the semester. No students have rated its difficulty yet.
Does ECX5953 have an exam?
Yes. The exam is worth 50% of the final mark, alongside 1 other task.