最新糖心Vlog

Trimester 2
Mr David Murphy

Some background information on me is available here.
My office is: Room 10.51, Nexus 10, 10 Pulteney Street.
Consultation times:  Thursday all day.  Other times by appointment.

Email: david.g.murphy@adelaide.edu.au
Mobile phone: 0408809734

Trimester 3
Dr Raul Barreto

Some background information on me is available .
My office is: Room 426, Level 4, Nexus 10 Building, 10 Pulteney Street.
Consultation times: 2pm-3pm every Tuesday or by appointment.

Email: raul.barreto@adelaide.edu.au
Telephone: 83133240.

Economics is often 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 at the economy as a whole, especially the behaviours of aggregate measures (such as gross domestic product, economic growth the unemployment rate, the inflation rate, exchange rates and interest rates) and how they vary with the business cycle and respond to government policies.

Our course provides an overview of both microeconomics and macroeconomics. Throughout the course, we will consider contemporary economic issues – and their relevance to business operational and/or strategic decision-making, as well as economic and/or social policy – through the lens of economics.

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

1	An understand of key economic concepts, principles and analytical tools, as well as the “language” and ways of thinking that economists employ;
2	An ability to apply key microeconomic and macroeconomic principles and analytical tools to make better managerial decisions – and communicate your solutions convincingly to both economists and non-economists;
3	An understanding of economic policy issues and their relevance to management;
4	An ability to communicate your views on economic conditions and policy issues and why they are relevant to management;
5	An understanding of the roles that governments and markets can play in improving the welfare of our society; and
6	Leadership, communication interpersonal skills and an ability to work collaboratively with your peers through group work.

Hubbard, R., Garnett, A., Lewis, P., and O’Brien, A. (2018), “Essentials of Economics 4”, Fourth adaptation edition (4e), Pearson 最新糖心Vlog.

Paperback edition ISBN: 9781488616983 . Both paperback and eBook editions are available (e.g., from the publisher at http://www.pearson.com.au).

The following texts provide another perspective of the concepts covered in the course.  These text are availble for the 最新糖心Vlog library, so please do not purchase a copy.

Other useful Text:

Bajada. C; Jackson. J; McIver, R. and Wilson. E.:“Economic Principles”, Third Edition 2012, McGraw-Hill, Irwin; Sydney.


Krugman. P. and Wells. R.; “Economics”, Third Edition 2013, Worth, New York.The following text books provide another perspective of the concepts presented in the course.

It is also recommended that you read relevant articles published in business sections of major newspapers (such as "The 最新糖心Vlogn" and "The 最新糖心Vlogn Financial Review" or business magazines (such as "The Economist") regularly.  This may help you to better appreciate the link between economic theory and it application to everyday events.

I will post course materials, assessment tasks and important announcements in MyUni. Please check both our MyUni course website and your university email account regularly. 

https://myuni.adelaide.edu.au

Lectures will be automatically recorded (whenever possible) and made available in the Echo 360 folder on MyUni. Please note that there may be occasions when the recording fails for technical reasons.

Our course will be conducted in intensive mode over Friday and Saturday sessions. Each session will begin at 9.00am and end at 4.00pm, with a 30-minute lunch break and two 15-minute breaks in-between. The course is divided into 12 topics and we will generally cover two topics in each session. As it is difficult to predict exactly how long it will take to cover each topic and I don’t want to limit our in-class discussions, we may not finish our coverage of a topic in the designated session; if so, we will finish it in our next session.

Given the breadth of topics covered and the intensive nature of our course, 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 will also break up our sessions with short problem-solving exercises, reviews of tutorial assignment questions/answers and discussion of current economic issues to help us understand and apply what we learn. I’ll bring at least one current issue to each session for us to discuss. Please also feel free to suggest current issues that you would like us to discuss.

While you don’t necessarily have to read the lecture notes prior to the relevant session, it would be useful to complete at least the required reading beforehand.

To help ensure that our classes are as effective as possible, please feel free to provide me with feedback at any time. Your feedback will be particularly valuable in the early stages of our course, as this will enable me to change my teaching style before it is too late. In
addition, I would be grateful if you could complete a SELT form and provide written comments (in addition to numeric scores) at the end of our course, as that will help me improve the course and my teaching for future students.

Important note: This course assumes no previous training in economics. Please be aware that when people first study economics,
they will almost-certainly feel frustrated for some time. I certainly did! We do need to learn a number of economic concepts/tools before we are able to tackle the more interesting stuff. It will almost-certainly take some time before you feel that what we are learning starts to “clicks together”. Therefore, if you feel somewhat frustrated in our first few sessions, that is completely normal. You will also feel somewhat frustrated even at the end of our course because, given the time available and the territory we have to
cover, we will not be able to go into as much depth as you would like on various issues. It is more important that you gain some knowledge of a range of economic concepts/tools rather than an in-depth knowledge of only a few. However, to partially ease your frustration, I will provide optional (non-assessable) readings and/or optional attachments to our lecture notes so that you can explore particular topics in more depth if you wish to.

The information below is provided as a guide to assist students in engaging appropriately with the course requirements.

The 最新糖心Vlog of Adelaide expects full-time students (i.e., those taking four 3-unit course at a time) to devote a total of 48 hours per week to their studies. This translates to an average of 12 hours per week (48 hours per 4 weeks) for our 3-unit course. Therefore, in addition to our 12 class hours (two 6-hour sessions, excluding breaks) every 4 weeks, you should expect to devote an average of 36 hours per 4-week period to your studies in this course.

Schedule

Session	Topic	Textbook reading	Class date
1	1.  Introduction to Microeconomics; Demand & Supply Part 1	Hubbard Ch. 1, 2 & 3 (but not the appendices)	September 20
1	2.  Demand & Supply Part 2	Hubbard Ch. 4	September 20
2	3.  Firms, Revenues, Costs & Supply	Hubbard Ch. 6	September 21
2	4.  Market Structures Part 1: Perfect Competition & Monopoly	Hubbard Ch. 7 & 8	September 21
3	5.  Market Structures Part 2: Monopolistic Competition and Oligopoly	Hubbard Ch. 9	October 18
3	6.  Economic Efficiency, Market Failure & the Role of Government	Hubbard, Ch. 5 & 11	October 18
4	Mid-trimester test (in-class)	Nil	October 19
4	7.  Introduction to Macroeconomics: GDP, Unemployment & Inflation	Hubbard Ch.12 & 13	October 19
4	8.  Aggregate Demand & Aggregate Supply	Hubbard Ch. 14 (but not the appendix)	October 19
5	9.  Monetary Policy	Hubbard Ch. 15 & 16	November 15
5	10.  Fiscal Policy	Hubbard Ch. 17	November 15
6	11. International Economics - Part 1	Hubbard Ch. 18	November 16
6	11.  International Macroeconomics - Part 2	Hubbard Ch. 19	November 16
	Final Exam	Nil	November 30

Type	Weight
Online quiz X 12	20%
Mid-trimester test	35%
Final exam	45%

Online Assessment

There will be a total of 12 online quizzes. Each quiz will consist of 10 multiple choice questions. The quizzes are timed; you have 45 minutes to complete each quiz. Your grade will be the average of your 10 best scores.

Quizzes 1 2 3 4 5 & 6 must be completed by Sunday 20 October 23:59pm
Quizzes 7 8 9 10 11 & 12 must be completed by Saturday 30 November 23:59pm

Important - You must find a reliable internet connection to compete each quiz. You have 45 minutes to complete the quiz. You may complete each quiz as often as you like prior to the due date. Only your HIGHEST mark will be recorded.

Mid Semester Test

The mid semester test will be held during session number 7 on Saturday morning 19 October from 9am until 12pm. It will cover topics 1 through 6. The test will consist of 40 multiple choice questions and 2 essays. The 40 multiple choice questions will be similar to the ones from the online quizzes. The essays will be similar to the tutorial questions discussed in class. You will have 3 hours to complete the test.

Final Examination

The final exam will be held on Saturday, 30 November from 9am until 12pm. It will have the same format as the midterm: 40 multiple choice plus 2 essays. While the multiple choice questions will cover the entire semester, the essays will cover only topics 7 through 11.

Please refer to MyUni for further instructions regarding how to submit tutorial assignments. Late submissions will not be accepted. Please retain a copy of all assignments submitted.

Additional Assessment
If a student receives 45-49 for their final mark for the course they will automatically be granted an additional assessment. This will most likely be in the form of a new exam (Additional Assessment) and will have the same weight as the original exam unless an alternative requirement (for example a hurdle requirement) is stated in this semester’s Course Outline. If, after replacing the original exam mark with the new exam mark, it is calculated that the student has passed the course, they will receive 50 Pass as their final result for the course (no higher) but if the calculation totals less than 50, their grade will be Fail and the higher of the original mark or the mark following the Additional Assessment will be recorded as the final result.