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Introduction to Economics (11175.1)

Level: Level 1 - Undergraduate Introductory Unit
Credit Points: 3
HECS Bands: 2, 3
Faculty: Faculty of Business, Government & Law
Discipline: Canberra School of Politics, Economics and Society


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Unit Outlines

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  • UC College Trimester 3, 2020, ON-CAMPUS, UCC-BRUCE (197007) - View
  • Semester 2, 2020, ON-CAMPUS, GBCA-MELB (203528) - View
  • Semester 2, 2020, ON-CAMPUS, BRUCE (195991) - View
  • UC College Trimester 2, 2020, ON-CAMPUS, UCC-BRUCE (195074) - View
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  • Semester 1, 2020, ON-CAMPUS, NSI-SL (193564) - View
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  • Semester 1, 2020, ON-CAMPUS, BRUCE (193566) - View
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  • UC College Trimester 1, 2019, ON-CAMPUS, UCC-BRUCE (191973) - View
  • Semester 1, 2019, ON-CAMPUS, NSI-SL (191646) - View
  • Semester 1, 2019, ON-CAMPUS, GBCA-MELB (184581) - View
  • Semester 1, 2019, ON-CAMPUS, BRUCE (184579) - View

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This is an introductory unit that introduces students to basic concepts of economics and their application to real world phenomena. Students will develop an insight into the economic way of thinking and learn how economics can be used to study every day economic problems and inform policy. The unit covers both microeconomic and macroeconomic topics including demand and supply analysis, market structures, market failure, and economic aggregates such as national output, inflation and unemployment. Students will also get an understanding of how government intervention in the economy will affect individual economic units as well as the working of the macro-economy.

Learning Outcomes

After successful completion of this unit, students will be able to:

1. Demonstrate how businesses can use economic models in their decision making;

2. Identify what determines the demand and supply for goods and services and explain how changes in these factors affect the market equilibrium price and quantity;

3. Analyse efficient production decisions under different types of market structures; and identify when and why markets fail to perform efficiently;

4. Describe macroeconomic aggregates such as GDP, unemployment, and inflation, and their limitations as a measure of the economic performance of a nation;

5. Analyse why and how different branches of government implement policies designed to manage the economy in the short and long-run; and

6. Communicate effectively the outcome of economic research and analysis through written report or oral presentation.

Assessment Items

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Contact Hours

Two 1.5 hour lectures and 1 hour tutorial on campus per week.





Assumed Knowledge


Incompatible Units


Equivalent Units

6355 Introduction to Economics

Referenced Courses

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