Studying online
There are now 2 possible online modes for units:
Units with modes Online timetabled and Online flexible are available for any student to self-enrol and study online.
Click on an offering mode for more details.
Unit Overview
- Description
This unit presents a critical set of principles and tools to assist managers to make informed decisions in an environment of economic risk and uncertainty. The unit introduces the basic elements of microeconomics and macroeconomics in terms of understanding the economic basis of business and strategic decision making through the application of economic principles to the role of the modern manager. Built around contemporary business experience and informal case studies, topics include supply and demand; market structures; contemporary market issues; the macroeconomic environment; money and financial markets; interest rates; inflation and unemployment; exchange rates; and a range of topical economic issues.
- Credit
- 6 points
- Offering
(see Timetable) Availability Location Mode Trimester 1 UWA (Perth) Face to face Trimester 2 Online Online flexible Trimester 2 UWA (Perth) Face to face - Outcomes
Students are able to (1) explain the microeconomic foundations of business decision making; (2) articulate the role that economics plays in understanding the issues that confront business in market economy; (3) explain the macroeconomic context within which businesses operate; (4) critically assess the major global economic challenges facing business; (5) demonstrate the ability to communicate clearly, effectively and appropriately in a range of contexts; and (6) demonstrate competencies to work effectively in diverse teams.
- Assessment
Indicative assessments in this unit are as follows: (1) individual assessment; (2) group assessment; and (3) final examination. Further information is available in the unit outline.
Student may be offered supplementary assessment in this unit if they meet the eligibility criteria.
- Unit Coordinator(s)
- Dr Paul Crompton
- Unit rules
- Prerequisites
- enrolment inone of the following courses: Master of Business Administration (coursework).
Master of Business Administration (coursework and dissertation).
Graduate Certificate in Business.
or approval from The Business School only, which will be determined with regard to relevant documented professional work experience. - Incompatibility
- ECON5541 Economics for Business: Applications and Policy
- Contact hours
- trimester teaching periods—lectures/seminars/workshops: up to 3 hrs per week
non-standard teaching period—lectures/seminars/workshops: up to 5 hrs per week over 7 weeks
online—nil
- The availability of units in Semester 1, 2, etc. was correct at the time of publication but may be subject to change.
- All students are responsible for identifying when they need assistance to improve their academic learning, research, English language and numeracy skills; seeking out the services and resources available to help them; and applying what they learn. Students are encouraged to register for free online support through GETSmart; to help themselves to the extensive range of resources on UWA's STUDYSmarter website; and to participate in WRITESmart and (ma+hs)Smart drop-ins and workshops.
- Visit the Essential Textbooks website to see if any textbooks are required for this Unit. The website is updated regularly so content may change. Students are recommended to purchase Essential Textbooks, but a limited number of copies of all Essential Textbooks are held in the Library in print, and as an ebook where possible. Recommended readings for the unit can be accessed in Unit Readings directly through the Learning Management System (LMS).
- Contact hours provide an indication of the type and extent of in-class activities this unit may contain. The total amount of student work (including contact hours, assessment time, and self-study) will approximate 150 hours per 6 credit points.
Face to face
Predominantly face-to-face. On campus attendance required to complete this unit. May have accompanying resources online.
Online flexible
100% Online Unit. NO campus face-to-face attendance is required to complete this unit. All study requirements are online only. Unit is asynchronous delivery, with NO requirement for students to participate online at specific times.
Online timetabled
100% Online Unit. NO campus face-to-face attendance is required to complete this unit. All study requirements are online only. Unit includes some synchronous components, with a requirement for students to participate online at specific times.
Online Restricted
Not available for self-enrolment. Students access this mode by contacting their student office through AskUWA. 100% Online Unit.
NO campus face-to-face attendance. All study and assessment requirements are online only. Unit includes some timetabled activities, with a requirement for students to participate online at specific times. In exceptional cases (noted in the Handbook) students may be required to participate in face-to-face laboratory classes when a return to UWA’s Crawley campus becomes possible in order to be awarded a final grade.
External
No attendance or regular contact is required, and all study requirements are completed either via correspondence and/or online submission.
Off-campus
Regular attendance is not required, but student attends the institution face to face on an agreed schedule for purposes of supervision and/or instruction.
Multi-mode
Multiple modes of delivery. Unit includes a mix of online and on-campus study requirements. On campus attendance for some activities is required to complete this unit.