This unit (VBE1002) of study introduces students to the fundamental principles of economics and their application to business decision making and development of economic policy. Students will be introduced to the economic way of thinking and how key concepts, theories and methods of modern economic analysis can be applied to everyday economic issues and problems. The unit will support students to develop skills enabling them to apply economics principles to a range of common problems in a variety of contexts and will assist in developing a range of transferable skills to be of value in further study and employment. The learning and teaching in the unit supports and prepares students for further study and the workplace through the scaffolded development of academic and professional skills.
Unit details
Location:
Study level:
Undergraduate
Credit points:
12
Unit code:
VBE1002
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Learning Outcomes
| 1. | Discuss the basic fundamental problem of scarcity facing modern societies; | ||
| 2. | Demonstrate the developing use of the market dynamics model in economic reasoning and problem solving; | ||
| 3. | Analyse key forces that influence economic decision making for sustainable use of resources; | ||
| 4. | Evaluate key economic indicators relevant to business, household and government for sustainable development; and | ||
| 5. | Apply and explain elementary economic theories and techniques in business decision making and government policy, incorporating social, cultural and environmental objectives. |
Assessment
Melbourne campuses
Students studying under the VU Block Model.
| Assessment type | Description | Grade |
|---|---|---|
| Test | In-class multiple choice and short answer questions (x2 progressive assessments) 15% and 10% respectively | 25% |
| Assignment | Analytical Economics Assignment (x2 progressive assessments) 25% each | 50% |
| Test | End of Block Test – (paper based) | 25% |
Other locations
| Assessment type | Description | Grade |
|---|---|---|
| Assignment | Analytical Assignment (1000 words) | 25% |
| Test | Class Test (500 words) | 15% |
| Test | Class Test (500 words) | 10% |
| Examination | Final Exam (1500 words) | 50% |
Where to next?
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