Course overview
The aim of this course is to introduce students to important economic concepts and tools that can help them understand how the market system operates and how business decisions are made within a competitive environment. Concepts and tools introduced in the course include determination of the market equilibrium, elasticity of demand, economic efficiency, the role of government, cost of production, and market structure. The course also covers macroeconomic issues including fiscal and monetary policies. The economic concepts and tools introduced in the course are applicable to the local, national, and global business environment.
Course learning outcomes
- Describe and utlilise important economic concepts, tools and methods to analyse economic activity and the business environment in which decisions are made.
- Explain how the market-exchange process works and the impact of competition and other market structure on market outcomes.
- Identify the limitations of the market mechanism and analyse the role of government policy impacting on markets and the general economy.
- Use economic concepts to understand how incentives influence behavior and how economic agents respond to changing economic conditions.
- Apply economic principles and concepts to analyse contemporary economic issues relating to the economy both domestically and internationally.
- Demonstrate business enterprise skills : i) Self-Management (foundation level); ii) Problem Solving (foundation level); iii) Written Communication (foundation level); and iv) International Perspective (foundation level).
Availability
Class details
Adelaide City Campus East
Group 1
Class number 31312
Section SE01
Size 20
Available 17
Fee calculator
To display course fees, please select your status and program below:
We’re updating this Fee Calculator. It currently shows fees for programs only. Please check the relevant program for full fee details.
Study Abroad student tuition fees are available here.
Only some Postgraduate Coursework programs are available as Commonwealth Supported. Please check your program for specific fee information.
If you are studying in a Professional Pathway Psychology or Clinical Psychology program, please refer to the Student Contributions amounts published here.
The Student Contribution amount displayed below is for students commencing a new program from 2021 onwards. If you are continuing in a program you commenced prior to 1 January 2021, or are commencing an Honours degree relating to an undergraduate degree you commenced prior to 1 January 2021, you may be charged a different Student Contribution amount from the amount displayed below. Please check the Student Contribution bands for continuing students here. If you are an international student, or a domestic student studying in a full fee paying place, and are continuing study that you commenced in 2025 or earlier, your fees will be available here before enrolments open for 2026.