we have already studied only demand and supply so far, so the assignment is just based on this two. the lecturer said we can discuss either of the two (demand or supply). she said she does not need plenty graphs, that we should draw all graphs by yourself. she said we should draw a demand or supply curve by our self from excel, that she does not need a copy and paste graph. please make sure to follow all the instruction i have given and the one in the assignment. she is very strict so please use simple words so she won't know i gave it out.
21670 HOLMES INSTITUTE FACULTY OF HIGHER EDUCATION HOLMES INSTITUTE FACULTY OF HIGHER EDUCATION UNIT OUTLINE HI5003 Economics for Business TRIMESTER 1 / 2018 Holmes Institute is committed to providing the highest quality education in a dynamic, student-centred learning environment. Holmes Institute fosters in its students rational thought, intellectual integrity and social responsibility. www.holmes.edu.au http://www.holmes.edu.au/ HI5003 Economics for Business FACULTY OF HIGHER EDUCATION Holmes Institute Faculty of Higher Education offers business, creativity and ICT courses that combine discipline- based excellence with practical applications. The faculty operates on campuses in Melbourne, Sydney, Brisbane and Hong Kong. The faculty offers a Bachelor of Business, a Bachelor of Professional Accounting, a Master of Professional Accounting, a Master of Business Administration and a Graduate Diploma in Business. Details about the members of the faculty can be found on the faculty's home page at www.holmes.edu.au/undergraduate HOLMES INSTITUTE POSTGRADUATE PROGRAMS At Holmes Institute, the Master of Business Administration and Master of Professional Accounting programs offer domestic and international students the opportunity to study a set of contemporary subjects in the field of business, creativity and ICT. This unit prepares students for the challenges in business environments of the 21st century. These programs emphasize the global and cross-cultural dimensions of business. Teaching utilizes a combination of delivery methods and includes critical analysis and case study methods. A combination of exams, case studies and company analysis are used in assessment. The degree programs of Holmes Institute focus on the following: Critical and Creative Thinking Communication Cooperation and Teamwork Digital Literacy International Perspective Knowledge and Lifelong Learning Social Responsibility and Community Engagement UNIT OVERVIEW & RATIONALE Welcome from the Subject Coordinator: Jas Paul Chawla Welcome to HI5003 Economics for Business. In this course, students will be introduced to a variety of topics, including: introduction to economics, micro and macro economics, demand and supply, scarcity of resources and allocation of resources, various market structures, costs of production, market failure, GDP, economic growth, inflation, unemployment economics cycle, monetary and fiscal policies and international economic environment impact on domestic economy and how to understand, analyse and interpret economic news. UNIT OBJECTIVES & LEARNING OUTCOMES On completion of this subject the students will have achieved the following: Knowledge Graduates will be able to, evaluate theoretical and practical knowledge of Economics and its use in daily life and for business decisions. Demonstrate the use of the basic tools and theories of economic analysis for applications in industry; Analyse and evaluate the forces that effect the economic wellbeing of consumers, producers and the community in the market system; Show understanding of the principles and practice of economic theory applied to the Australian business environment; Show understanding of the principles and practice of macroeconomic theory applied to the development of Australia’s international trade. http://www.holmes.edu.au/ HI5003 Economics for Business Skills Graduates will be able to, analyze economic issues facing the country and the industries. Students will be able to appreciate core concepts like Scarcity of resources, Production Possibility Frontier, Elasticity, factors affecting Demand and Supply, Costs of production and GDP and Economic growth. They will be able to develop conceptual, analytical, problem solving, decision making and research skills; Application of Knowledge and skills Graduates will be able to, apply theoretical and practical knowledge of economics in the diagnosis of issues related to organizations and countries and the formulation of appropriate economic solutions and economic policies. Students will demonstrate research skills, showing initiative in consulting the academic literature and integrating fresh ideas into the discourse in preparation for life-long learning. Students will demonstrate the capacity to write persuasive essays and reports containing sound recommendations, in preparation for their career in business. Learning Outcomes: Examine a broad understanding of the principles of macro and micro economics in a variety of business environments Analyse economic environment nationally and internationally and its influence on business and national economic performance Critically Analyse government’s fiscal and monetary policy and how they influence business decisions Synthesise theoretical and practical knowledge of economic, a well- developed understanding of the language of economics and the tools of economics used by any policy maker within or outside the country. UNIT ADMINISTRATION Awards Duration Core/Elective Subject weight Campus MBA, MPA, GradDip 1 semester Core 3 credit points Melb / Syd/Bris Mode of delivery On campus Prerequisites Nil Workload Students are expected to attend all classes Delivery A weekly three hour class including two hrs lecture and one hr tutorial Independent study 5 hrs per week HI5003 Economics for Business CONTACT DETAILS Subject Coordinator and Lecturer Sydney Campus 02) 9299 1400 Mr. Jas Paul Chawla
[email protected] Please see the Blackboard Site for your Campus Lecturer’s details Students please note: Holmes Institute provides each student with a Holmes webmail. Faculty and Administrative staff can only communicate with you using your Holmes Institute mail address. Emails from private and/or business email accounts cannot be used and may not be answered. STUDENT ASSESSMENT OVERVIEW ASSESSMENT TYPE DUE DATE WEIGHT LENGTH Tutorial and /or seminar activity Weekly individual contribution 10% Individual Paper Week 6 – Upload Soft copy on BB By FRI 5pm 15% 1000 words Group Assignment Week 10 – Upload Soft copy on BB By FRI 5pm 25% 2500 words Final Exam Exam Week 50% 2 hrs and 10 minutes Tutorial and Seminar Activity Students need to come prepared in the class for the relevant topics covered during each week and engage themselves. These marks are rewarded to students on the basis of their attendance, weekly discussion and attempting some short quizzes both written and oral during the semester. Individual and Group Assignments Your assignment must be completed and submitted on time in the prescribed format and via the online Safe Assign portal. Late penalties will apply to overdue assignments. mailto:
[email protected] HI5003 Economics for Business Business Presentations You are expected to arrive for any presentation ahead of time. If you are late for your presentation, you may not be eligible to present and may not receive any marks. Where a business presentation involves a group, it is expected that all group members are present. Unless your lecturer advises otherwise, students are expected to dress in business attire. NOT APPLICABLE TO THIS UNIT Class Tests - NOT APPLICABLE TO THIS UNIT Final Examinations Each trimester concludes with the final examinations that are held during a designated examination period. You are expected to be present for the final examinations, which are held during Examination Week, the exact dates/times and venues are announced via your Blackboard. For each subject you will be allocated a designated seat in one of the examination venues. Your examination venue and seat will be confirmed by the end the teaching period of each trimester via your Blackboard. STUDENT ASSESSMENTS DETAILS 1. Tutorial and/or seminar activity: Discussion of Issues ASSESSMENT Weighting: 10% 1 Every lecture session begins with a discussion of Issues in Economics for Business. You will be assessed on the frequency (how many) and quality (how good) of your contributions to those discussions over the trimester. TOTAL 10% HI5003 Economics for Business 2. Individual Paper Assessment criteria Due: Week 6 (FRI 5pm) ASSESSMENT Weighting: 15% 2 Length: Maximum 1000 words Newspaper Analysis (Written report): 15% 1) Choose ANY One topic from the following list: - Australia’s stand on Renewable energy - Demand and supply of ANY resources in Australia which includes human resource also - Oligopoly, Monopoly and Duopoly structures in any ONE or TWO industries in Australia and its affect in the market - Growth in Australian Agricultural sector for Export market - Costs of Production in any one or two industries in Australia 2) Evaluate your chosen topic from economic perspectives. You should include The essence of the story (1 to 2 paragraphs): Introduce the issue, who is interested in it and why. The economic analysis (3 to 4 paragraphs): Explain how you can present the issue in terms of economic concepts and theories you have learnt in class. Explain your view (2 to 3 paragraphs): Explain what actions you would recommend to the key players and/or policy holders.