Economics examines and analyses the economic activity of people in order to satisfy their needs and desires. It is important to study economics to understand how the individual, business and government operates. Microeconomics studies the individual economic units in detail such as a household, a firm and a government whereas the macroeconomics studies the aggregate behaviour of the entire economy. In order for students to be successful in any field in today’s global market place, they need to understand the fundamental of economic principles.
a) Understand economic terms, concepts and principles and its application to the real world
b) Demonstrate understanding of economic roles of individuals, firms, government and society
c) Demonstrate an understanding of the operation of markets and role of the government
d) Employ the fundamental macroeconomics concepts such as business cycle, inflation and unemployment
e) Explain the theory and practice of protectionist policies and exchange rate in global economy
Exams will take place in week 13. Please refer to the official Exam Timetable for further information.
Learning outcomes for this subject are assessed using a range of assessment tasks as described in the table below.
|a & b
|a, b, c
|a, d, e
|a, d, e
|a, b, c
|a, b, c & d
|a, b, c, d & e
Most assessment tasks are submitted using the Learning Management System, Moodle. For more instruction on submitting the assessment tasks, please refer to the instruction in Moodle for more specific information of the subject assessment submission requirements.
There are penalties for late submission of assessment tasks.
If you would like to request for an extension to submission deadline of your assessment or would like to request for a deferred assessment, you need to meet the eligibility requirements.
Broad topics to be covered
- Introduction to Economics
- Supply and Demand
- Market Equilibrium and Government Intervention
- Elasticity of Demand and Supply
- Production and Cost
- Market Structure: Part I
- Market Structure: Part II
- Introduction to Macroeconomics and National Income
- Business Cycle, Inflation and Unemployment
- Money and Banking
- Current Economic Policies
- International Economics
Please note that these topics are often refined and subject to change so for up to date weekly topics and suggested reading resources, please refer to the Moodle subject page.