Economics for Decision Making 1
Gold Coast, Australia
Area of Study
Taught In English
Course Level Recommendations
ISA offers course level recommendations in an effort to facilitate the determination of course levels by credential evaluators.We advice each institution to have their own credentials evaluator make the final decision regrading course levels.
Recommended U.S. Semester Credits3 - 4
Recommended U.S. Quarter Units4 - 6
Hours & Credits
OverviewCourse DescriptionThe course introduces students to the basic concepts, techniques and principles of economics. It examines the role that economic factors can play in influencing business and government decision-making processes. This course serves as an introduction to economics. As such, it provides a foundation for further studies in economics and, more generally, in commerce, business, administration and management. In particular, it complements other courses in economics, accounting, finance, marketing and management that focus on how various business and government activities occur and interact.Course IntroductionEconomics for decision Making is an introductory foundation course in the Bachelor of Commerce/Bachelor of Business degree programs. It introduces core skills in relation to economics. It provides introductory knowledge and core skills that are integral for other courses within the program.Overview: Course Structure and ContentEconomics for Decision-Making 1 consists of two main parts:A. MicroeconomicsandB. MacroeconomicsMicroeconomics is the study of how individual consumers and firms make decisions to buy and produce goods, and how these decision affect markets and the manner in which scarce goods are distributed throughout the economy.Macroeconomics is the study of the behaviour of national economies and the international/global economy. Macroeconomics also examines the policy decisions and actions of governments as decision makers. Emphasis is placed on the various forms of actions available to governments to try to manage national economies, especially fiscal policy and monetary policy.Microeconomics is taught in the first half of the course and Macroeconomics is the taught in the second half of the course.Course AimsThe Course has the following aims:(a) to introduce students to the basic principles and concepts of microeconomics(b) to introduce students to the basic principles and concepts of macroeconomics; and(c) to introduce students to the role that economic factors can play in influencing business and government decision-making processes.Learning OutcomesAfter successfully completing this course you should be able to:1 be familiar with the basic principles and concepts of microeconomic theory2 understand the basic principles of macroeconomic theory3 apply microeconomic theory to provide insights into real world issues4 apply macroeconomic theory to provide insights into real world issues.5 develop further your generic problem solving skills6 develop further your self-management skills.
Weighting/Marked out of
Test or quiz
Online quiz 2 x 10%
Assignment - Problem Solving Assignment
Mid-semester Problem Set
Exam - selected and constructed responses
Courses and course hours of instruction are subject to change.
Eligibility for courses may be subject to a placement exam and/or pre-requisites.
Credits earned vary according to the policies of the students' home institutions. According to ISA policy and possible visa requirements, students must maintain full-time enrollment status, as determined by their home institutions, for the duration of the program.