ECON 7239NA - Economics for Management

Ngee Ann Academy - Quadmester 1 - 2023

This course provides an introduction to economic thinking and its relevance and application to managing organisations. The first part of the course deals with microeconomic issues such consumer choice and the structure of markets, including perfect competition, monopoly and oligopoly, and the competitive regulatory environment. The second part deals with macroeconomics such as the determinants of the aggregate level of output and employment, and elements in the determination of macroeconomic policy including interest rates, inflation and foreign trade and capital flows. The focus of the course is on fundamental tenets of economics in relation to current issues and their implications for managers and competitive organisations.

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Course Details

Course Code	ECON 7239NA
Course	Economics for Management
Coordinating Unit	Economics
Term	Quadmester 1
Level	Postgraduate Coursework
Location/s	Ngee Ann Academy
Units	3
Contact	Intensive
Available for Study Abroad and Exchange	N
Incompatible	ECON 7200
Restrictions	Available only to MBA & GDipBA students
Assessment	Typically, assignments, tests & final exam

Course Staff

Course Coordinator: Associate Professor Shandre Thangavelu

Course Timetable

The full timetable of all activities for this course can be accessed from .

Course Learning Outcomes

Economics is divided into two streams: microeconomics and macroeconomics. Microeconomics focuses on the behaviours and interactions of economic agents, such as firms, households, and individuals. Macroeconomics looks, firstly, at the economy as a whole, especially the behaviours of aggregate measures, such as gross domestic product (GDP); measures of economic welfare; the quantity of capital, labour, and material and energy resources used; the quantity and nature of the wastes generated; the unemployment rate; the inflation rate; exchange rates; and interest rates. Secondly, macroeconomics considers how these aggregate measures vary with the business cycle and respond to government policies, ecological disturbances, institutional changes, international trading arrangements, and society’s values and individual behavioural patterns.

The course provides an overview of both microeconomics and macroeconomics. Throughout the course, we will consider contemporary economic issues through the lens of real-world economics and their relevance to strategic decision-making, organisational management, and economic, social, and environmental policy-setting.

On successful completion of this course, students will be able to:

1	Understand key economic concepts, principles, and analytical tools, as well as the ‘language’ and ways of thinking employed by real-world economists
2	Apply key microeconomic and macroeconomic principles and analytical tools to make better managerial decisions and communicate solutions convincingly to both economists and non-economists
3	Understand economic policy issues and their relevance to management decisions
4	Articulate economic conditions and policy issues and why they are relevant to management
5	Understand the roles that governments and markets can play in improving the welfare of our society

最新糖心Vlog Graduate Attributes

This course will provide students with an opportunity to develop the Graduate Attribute(s) specified below:

最新糖心Vlog Graduate Attribute	Course Learning Outcome(s)
Attribute 1: Deep discipline knowledge and intellectual breadth Graduates have comprehensive knowledge and understanding of their subject area, the ability to engage with different traditions of thought, and the ability to apply their knowledge in practice including in multi-disciplinary or multi-professional contexts.	1,2,3,5
Attribute 2: Creative and critical thinking, and problem solving Graduates are effective problems-solvers, able to apply critical, creative and evidence-based thinking to conceive innovative responses to future challenges.	1,2,3,5
Attribute 3: Teamwork and communication skills Graduates convey ideas and information effectively to a range of audiences for a variety of purposes and contribute in a positive and collaborative manner to achieving common goals.	1,2,4,5
Attribute 4: Professionalism and leadership readiness Graduates engage in professional behaviour and have the potential to be entrepreneurial and take leadership roles in their chosen occupations or careers and communities.	1-5
Attribute 5: Intercultural and ethical competency Graduates are responsible and effective global citizens whose personal values and practices are consistent with their roles as responsible members of society.	5
Attribute 7: Digital capabilities Graduates are well prepared for living, learning and working in a digital society.	1-5
Attribute 8: Self-awareness and emotional intelligence Graduates are self-aware and reflective; they are flexible and resilient and have the capacity to accept and give constructive feedback; they act with integrity and take responsibility for their actions.	3

Learning Resources

Required Resources

Hubbard. R.G; Garnett. A.M; Lewis. P; and O’Brien. A.P.: “Essentials of Economics", Fourth Edition 2018, Pearson 最新糖心Vlog, Sydney.
Paperback ISBN: 9781488616983
eBook ISBN: 9781488620225

Recommended Resources

In addition to the assigned readings from the prescribed text, you may find it useful to access information from other sources. A number of introductory economics texts have been written over the past decades. Some of these books are held in the Ngee-Ann library. Please feel free to browse through the available books for alternative explanations of the relevant concepts.

It is also recommended that you read relevant articles published in the business section of major newspapers (such as “The Straits Times”) or business magazines (such as “The Economist”) regularly. This may help you to better appreciate the link between economic theory and its application to real life.

Economic data and commentary pertaining to Singapore can be viewed from and .
Economic data and commentary pertaining to 最新糖心Vlog is available at and .

Other useful pages on the World Wide Web are as follows:

Economist.com

International Monetary Fund

Organisation for Economic Co-operation and Development

The World Bank

Online Learning

This course makes use of MyUni for the posting of course materials, assessment tasks, and important announcements. It is expected that all students will regularly check the MyUni course website, and regularly check their university email accounts or re-direct them to an account that they regularly check.

Further details about the online delivery of this course can be found on MyUni.
Learning & Teaching Activities

Learning & Teaching Modes

Classes will take place over two intensive weekend periods.

These classes will take place over Zoom. Students are advised to read the appropriate chapters of the textbook in advance of the sessions, such that they can productively participate in the classes and discussions.

Given the breadth of topics covered, much of our in-class time will necessarily be spent in “interactive lecture” mode, with the emphasis on interactive. I like to make our in-class time as interactive as possible, so please feel free to ask questions and/or offer your perspectives and relevant examples from your own experience at any time. We may also break up our sessions with short problem-solving exercises, quizzes, brief assigned activities, and discussion of current economic issues to help us understand and apply what we learn. I may ask individual students to present their answers to particular assignment questions in-class. As well as focusing on the basic theoretical content and concepts that we need to cover, I will also bring some current applications for discussion. Please also feel free to suggest current issues that you would like us to discuss.

Workload

No information currently available.

Learning Activities Summary

No information currently available.

The 最新糖心Vlog's policy on Assessment for Coursework Programs is based on the following four principles:

Assessment must encourage and reinforce learning.
Assessment must enable robust and fair judgements about student performance.
Assessment practices must be fair and equitable to students and give them the opportunity to demonstrate what they have learned.
Assessment must maintain academic standards.

Assessment Summary

Assessment Task	Due Date / Week	Weighting
Case Study	21st February	30%
Presentation	5th-7th February	10%
Peer Assessment Report	14th February	10%
Final Exam	Exam Period	50%
Total		100%

Assessment Detail

Case Study 30%

Students will complete a case study as an individual assignment. This will involve critical assessment of an industry of your choice. The topic must be approved by the lecturer within the specified timelines. In addition to the due date of the final report, it should be noted that a draft report must be submitted at an earlier date prior to the Presentation. Individual feedback will be provided to each student via MyUni on both the draft, and the final report. Refer to MyUni for further details.

Presentation 10%

Students will be asked to give a presentation during the 2nd weekend of intensive classes on the topic of their Case Study.
A draft written case study must also be provided prior to this. Refer to MyUni for further details.

Peer Assessment Report 10%

Students will each be assigned to be a peer reviewer of one other student's Presentation and draft Case Study. The reviewer will prepare a brief report providing feedback to the student. The reviewer will be assessed on the quality of their peer assessment report. The peer assessment does not affect the grade of the student being reviewed. Refer to MyUni for further details.

Final Exam 50%

Students will complete an open-book written final exam covering all topics within the course. Further details regarding the conduct of this exam will be provided on MyUni

Submission

Some assessment items for this course include not only the final due dates of the graded component, but also deadlines at various milestones, including topic proposals, drafts and presentations. Students are expected to meet all deadlines as clearly detailed on MyUni. Failure to meet required deadlines may impact the assessment of the graded assessment components.

Written submissions will be made electronically via MyUni.

Dates for presentations will be coordinated by the lecturer, and will occur during scheduled class time.

Late submissions will be subject to a 20% penalty per business day late. Exceptions may be made in line with the 最新糖心Vlog's Modified Arrangements for Coursework Assessments Policy.

Course Grading

Grades for your performance in this course will be awarded in accordance with the following scheme:

M10 (Coursework Mark Scheme)
Grade	Mark	Description
FNS		Fail No Submission
F	1-49	Fail
P	50-64	Pass
C	65-74	Credit
D	75-84	Distinction
HD	85-100	High Distinction
CN		Continuing
NFE		No Formal Examination
RP		Result Pending

Further details of the grades/results can be obtained from Examinations.

Grade Descriptors are available which provide a general guide to the standard of work that is expected at each grade level. More information at Assessment for Coursework Programs.

Final results for this course will be made available through .

Student Feedback

The 最新糖心Vlog places a high priority on approaches to learning and teaching that enhance the student experience. Feedback is sought from students in a variety of ways including on-going engagement with staff, the use of online discussion boards and the use of Student Experience of Learning and Teaching (SELT) surveys as well as GOS surveys and Program reviews.

SELTs are an important source of information to inform individual teaching practice, decisions about teaching duties, and course and program curriculum design. They enable the 最新糖心Vlog to assess how effectively its learning environments and teaching practices facilitate student engagement and learning outcomes. Under the current SELT Policy (http://www.adelaide.edu.au/policies/101/) course SELTs are mandated and must be conducted at the conclusion of each term/semester/trimester for every course offering. Feedback on issues raised through course SELT surveys is made available to enrolled students through various resources (e.g. MyUni). In addition aggregated course SELT data is available.
Student Support
Policies & Guidelines
This section contains links to relevant assessment-related policies and guidelines - all university policies.
Fraud Awareness

Students are reminded that in order to maintain the academic integrity of all programs and courses, the university has a zero-tolerance approach to students offering money or significant value goods or services to any staff member who is involved in their teaching or assessment. Students offering lecturers or tutors or professional staff anything more than a small token of appreciation is totally unacceptable, in any circumstances. Staff members are obliged to report all such incidents to their supervisor/manager, who will refer them for action under the university's student鈥檚 disciplinary procedures.

The 最新糖心Vlog of Adelaide is committed to regular reviews of the courses and programs it offers to students. The 最新糖心Vlog of Adelaide therefore reserves the right to discontinue or vary programs and courses without notice. Please read the important information contained in the disclaimer.

Authorised by:	Deputy Vice-Chancellor and Vice-President (Academic)
Maintained by:	Course Outlines Administrator

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