ECX5953 Economics
Difficulty:
Year Completed: Semester 1, 2022
Prerequisite: N/A
Exemption:
CB2 Business Economics
Minimum of 70% required.
Mean Setu Score: 94.03%
Clarity of Learning Outcomes: 96.23%
Clarity of Assessments: 98.11%
Feedback: 88.68%
Resources: 90.57%
Engagement: 98.11%
Satisfaction: 92.45%
Subject Content:
Lecture(s) and Tutorial(s):
Textbook(s):
Assessments:
Microeconomics: scarcity, supply & demand, consumer behaviour
& elasticity, costs of production & profit maximisation, perfect
competition and monopoly.
Macroeconomics: aggregate demand & aggregate supply; the
money market & monetary policy, the government budget deficit
& fiscal policy, the foreign exchange market and exchange rate
policy; unemployment and inflation; the current & capital
accounts.
2 x 1 hour lectures
1 x 1 hour tutorial
Principles of Microeconomics | 8th Edition | AU/NZ
Principles of Macroeconomics | 8th Edition | AU/NZ
Weekly Homework: 5%
Tutorial Participation: 10%
Mid-semester test: 20%
Assignment: 15%
Final Exam: 50%
Comments
The unit is great for students with some prior knowledge of micro
and macroeconomics. It is especially beneficial for actuarial
students as it enables students to receive the exemption for CB2
with only one subject taken, instead of taking 2 separate economic
subjects.
Lectures were engaging and helpful. Students may experience an
information overload if they have not taken any economic
subjects in the past. The lecturer does a great job in cramming
both Microeconomic and Macroeconomic topics in the short time
span of 12 weeks.
Tutorials are crucial due to the participation marks that are
offered in the subject. Tutorials are a good time to discuss any
issues with tutors as many questions in the realm of economics
are subject to opinions and discussion.
There are two in-semester assessments, one is the mid-semester
exam and the other is an essay style assignment.
The mid-semester exam is an online multiple choice exam,
students are given plenty of time to do this and should be able to
obtain a reasonable result as long as they have a basic
understanding of the first half of the semester (microeconomics).
The Essay style assignment requires students to read and analyse
a given number of articles and incorporate external readings, in
order to answer questions set out by the assignment. Students
are only required to write up to 1,500 words
The exam mostly covers Macroeconomic topics as the mid
-semester exam covers most of the topics covered under
Microeconomics. The exam is 2 hours and 10 minutes long and is
close-book. The time provided is enough for students to complete
the exam and perform checking.
This subject is strongly recommended for students that have
some foundation knowledge of economics. But the subject is also
well delivered even for students who have not learnt economics
before.
General Overview:
Lectures:
Tutorials:
Assessments/Other Assessments
Exams
Concluding Remarks