Economics and Society

AUT University

Course Description

  • Course Name

    Economics and Society

  • Host University

    AUT University

  • Location

    Auckland, New Zealand

  • Area of Study

    Business, Economics

  • Language Level

  • Course Level Recommendations

    Lower

    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.

    Hours & Credits

  • Credit Points

    15
  • Recommended U.S. Semester Credits
    3 - 4
  • Recommended U.S. Quarter Units
    4 - 6
  • Overview

    Prescriptor:

    An Introduction to basic economic and legal principles, and their contribution to the functioning of society. The behaviour of individuals, firms and markets will be analysed. Key aggregate economic indicators and the role of the New Zealand Reserve Bank in relation to government policy will be analysed. A general overview of the legal system in New Zealand alongside the Treaty of Waitangi will be provided and students will be introduced to business contractual obligations.

    Paper Content:

    • The Foundations of Economics
    • The Market Forces of Supply and Demand and Government Policies
    • Demand and Supply Elasticities
    • Monopolies and Competition Policies
    • Market failure and possible government responses
    • Money, Banks and the Reserve Bank of New Zealand
    • Overview of NZ legal system and how law is made
    • Legal concepts of rights, duties and remedies under contract. 

    Paper Learning Outcomes:

    1. Apply demand and supply theory to the behaviour of markets and their participants.
    2. Explain the behaviour of firms under perfectly competitive and monopoly market structures.
    3. Recognise, examine and apply key macroeconomic concepts.
    4. Explain the role of the Reserve Bank of New Zealand in maintaining a prudent financial system through utilising monetary policy.
    5. Identify elements of the legislative process and systems in regulating the economy and society
    6. Describe rights and duties and remedies under contract

    Assessment Structure:

    • Assignments 20%
    • Mid semester test 30%
    • Quizzes 10%
    • Final Exam 40%

Course Disclaimer

Courses and course hours of instruction are subject to change.

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.