Unit of Study Outline
BUSS1040
Economics for Business Decision Making
Semester 1, 2012
Pre-requisite units: None
Co-requisite units: None
Unit coordinator: Dr Andrew Wait (School of Economics)
Room: Rm 358, Merewether
Email address: andrew.wait@sydney.edu.au
Phone: 9351 3060
Consultation Hours: TBA
Lecturer: Dr Pablo Guillen (School of Economics)
Room: Rm 340, Merewether
Email address: pablo.guillen@sydney.edu.au
Phone: 9036 9188
Consultation Hours: TBA
Lecture and tutorial times:
Stream 1: Merewether Lecture Theatre 1, 13.00-15.00, Thursday (Andrew Wait)
Stream 2: Merewether Lecture Theatre 1, 16.00-18.00, Thursday (Andrew Wait)
Stream 3: Institute Lecture Theatre 1, 9.00-11.00, Friday (Pablo Guillen)
Tutorials (1 hour) begin in week 2; please check your timetable for your specific time and venue
Required Text / Resources: Taylor, J. B. and Frost, L. 2009, Microeconomics, 4th ed., John Wiley &
Sons Australia, Ltd., Milton. It is available at the University Coop. A list of other recommended
readings will be made available on Blackboard.
This Guide to Unit Learning Content and Assessment MUST be read in conjunction with the Guide to Business
School Student Administration Manual
(sydney.edu.au/business/currentstudents/student_information/student_administration_manual) and University Policies
on Academic Honesty, Special Consideration, and all applicable policies that apply to every unit of study offered
by the Business School (http://sydney.edu.au/business/currentstudents/policy) . In determining applications and
appeals relating to these matters it will be assumed that every student has taken the time to familiarise
themselves with these key policies and procedures.
Unit of study information (School handbook description)
https://ssa.usyd.edu.au/ssa/handbook/uosdetail.jsp?uosindex=183282&session=1&academic_year=2
012&back=1
BUSS1040 Semester 1 2012
1
Learning aims
The aims of the unit of study are:
1.
To introduce the key concepts of micro and macro economics.
2.
To develop in students the ability to solve business problems by identifying and critically evaluating
implications of business decisions using micro and macro economics principles.
3.
To develop students’ ability to communicate effectively, both orally and in writing, through assessment
tasks and tutorial participation.
1.
Learning outcomes and links to Program Learning Outcomes
Upon completion of this unit, you should be able to:
Intended Learning Outcome
Relevant program learning
outcome/s
The Unit of Study Learning Outcomes
relate to the following BCom Learning
Outcomes (PLOs)
Learning Outcomes 1 and 2
Learning Outcome 2
Learning Outcome 2
Learning Outcome 3
NA
BUSS1040 Semester 1 2012
PLO 1: Able to demonstrate an
understanding of the key challenges in
managing business in a range of
business and cultural contexts.
PLO 6: Able to demonstrate an
understanding of pertinent moral,
ethical and corporate social
responsibility considerations and the
potential impacts (positive and
negative) that business decisions can
have on a range of stakeholder groups.
PLO 2: Able to solve business
problems by identifying and critically
evaluating implications of business
decisions from a range of disciplinary
business perspectives.
PLO 4: Able to communicate
effectively, both orally and in writing,
using a range of modes of
communication including business
reports and presentations and
including the ability to negotiate and
persuade in a business context.
PLO 5: Able to collaborate effectively
with others in a professional business
manner as both members and leaders
of teams, and in relation to client
interactions.
Links to Learning and
Teaching methods
The main learning
activities through which
students will practice and
develop their knowledge,
skills and attributes
Essay; mid-semester
exam; final exam
Essay; mid-semester
exam; final exam
On-line quizzes; midsemester exam; essay;
final exam
Communicate effectively
key economic arguments
in the essay and in the
exams
NA
2
2.
Assessment
Assessment items
Relevant unit
learning
outcome/s
1. On-line quizzes (best 4 out
of 5)
Word length
Weight
Due Date
1, 2
10%
2. Mid-semester exam
1, 2
25%
3. Essay
1, 2, 3
4. Final exam
Academic honesty module
1, 2
Week 3, Week 5, Week
8,
Week 10,
Week 13
Week 7: Monday 23
April 6.15-7.45pm;
venues TBA
Week 11; Due date
Friday 25 May 11.30am
Final exam period
Wk 4
500 words
15%
N/A
50%
0%
Penalties
On-line quizzes: Given the nature of this assessment, no extensions will be given for on-line quizzes. If
special consideration is granted for a quiz (or quizzes), the remaining quizzes will be reweighted so as to
count for 10% of the final grade. If special consideration is granted for all 5 quizzes, the final exam will
be reweighted to count for the final exam plus the missed quizzes (that is, the final will count for 60%).
Mid-semester exam: There are no extensions available for the mid-semester exam. If special
consideration is granted, the student will be allowed to sit a further mid-semester exam, to be held after
the University’s final exam period. Student applying for special consideration must be available to sit the
exam at this time.
Essay: Given the learning outcomes inherent in this assessment task, no extensions are available for
the essay. The penalty for late submission is 10% of the total available marks per day (including
weekend days). No essay will be graded if submitted more than 5 days late. If special consideration is
granted for the essay, the student’s final exam will be reweighted to count for 60% of the final mark. If a
submitted essay is longer than 500 words (excluding references, appendices and diagrams) only the first
500 words will be graded.
Final exam: There are no extensions available for the final exam. If special consideration is granted, the
student will be allowed to sit a further final exam, to be held after the University’s final exam period.
Student applying for special consideration must be available to sit the exam at this time.
Assessment details
Assessment task 1: The online quizzes are designed to test your knowledge on recent material, and give an
indication of whether adequate progress is being made throughout the semester. They will typically be 10
questions in length, and you will be given a number of days to complete the questions.
Assessment task 2: The mid-semester exam takes place in Week 7 and will test all material covered up to that
point in the unit. The mid-semester exam will be held in a venue(s) to be announced – please check Blackboard.
It is your responsibility to now the venue for the exam. The exam will be held on Monday 23 April from 6.15pm7.45pm.
Assessment task 3: The first assignment will be an essay of 500 words (or fewer). It will require you to apply
concepts and knowledge from the course in order to argue a position on a contemporary issue. The essay will be
due on Friday 25 May 2012 at 11.30am. You will be required to submit an electronic copy on Blackboard as
well as a hard copy in the drop-box in the Merewether Building. Both copies must be identical.
Assessment task 4: The final exam will take place during the examination period, and will test all material
contained in the unit.
BUSS1040 Semester 1 2012
3
3.
Specific Improvements made in response to previous feedback (from students, peers etc)
This is a new unit developed with extensive consultation with peers and students. This unit will be continued
to be reviewed both by formal (USE forms) and informal methods throughout the semester.
4.
Unit schedule
Week
Reference
Lecture content
Assessments
Due
1
5 Mar
Taylor and Frost, Chapter 1 & 2;
Bernanke, B., Olekalns, N. and Frank R.
2011, Principles of Macroeconomics, 3rd
Ed., McGraw-Hill, North Ryde. Ch. 1.
Introduction: key concepts
N/A
2
12 Mar
Taylor and Frost, Chapter 2; Handout
(available on Blackboard)
Comparative Advantage
N/A
The Strategy of Negotiation
3
19 Mar
Taylor and Frost, Chapter 3, and 8
Microeconomic fundamentals: supply
and demand
4
26 Mar
Taylor and Frost, Chapter 5 and 6
Market outcomes: competitive markets
5
2 Apr
Taylor and Frost, Chapter 7
Market outcomes II: efficiency
9 Apr
AVCC Common Week
No lecture
6
16 Apr
Taylor and Frost, Chapter 10
Pricing strategies with market power
7
23 Apr
Taylor and Frost, Chapter 10, 11, pp
235-41
Pricing strategies: (continued)
8
30 Apr
Taylor and Frost, Chapter 11
Strategic interaction in markets: An
analysis of business strategy
9
7 May
Taylor and Frost, Chapter 11
Strategic interaction: (continued)
10
14 May
Taylor and Frost, Chapter 13
Externalities and public Goods
Quiz 4
11
21 May
Taylor and Frost Chapter 15
Investment
Essay Due
11.30 Friday 25
May
12
28 May
Hubbard, G., Garnett, A., Lewis, P. and
O’Brien, T. 2010, Essentials of
Economics, Pearson, Frenchs Forest. Ch.
14.
Introduction to macroeconomic
fundamentals: inflation, unemployment
and policy
13
4 Jun
BUSS1040 Semester 1 2012
Review
Quiz 1
Quiz 2
Mid-Semester
Exam
23 April 6.157.45pm; Venue
TBA
Quiz 3
Quiz 5
4