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This course introduces and applies economic principles, concepts and ways of thinking. The focus is on using the lens of economics to view the world. By doing this we gain insight and understanding into people, organisations and issues that matter to society.
In this course you will be introduced to economic principles, concepts and models; have opportunities to see how these are applied to a range of real world situations; and to apply them yourself.Economics is a social science. It is the study of the choices people make and how they interact with others in the allocation and use of scarce resources. This course will introduce you to a range of fundamental economic principles. By applying these principles to everyday real life you will gain some idea of what it means to “think like an economist”. This course will not turn you into an economist (for which you can be thankful) but it will help you understand the language of economists. This course will not provide you with the right answer to every question but it will help you ask the right questions. And anyway, economists may disagree on the answers to any particular question but they usually agree on what questions to ask.At the end of this course you will find that economics is all around you – not just in the world of business but in the whole world.You will be able to use the tools of economics to understand why people do what they do – tools like supply and demand will help explain the behaviour of people, firms, governments, countries and markets. We will examine the role of information in markets and what happens when there are lots of market participants and what happens when there are not many. We will look at the wider economy and try to understand why growth and inflation matter.Economics is not about graphs though we will use a lot of graphs because graphs can help reduce otherwise complex situations to something that can be more readily analysed. Economics is about explaining behaviour and so we will use news items, stories, facts and figures to help with that explanation and connect to the real world. Sometimes we will have to work through a bit of theory to get to where we want to go but it will be worth it.A final word – this is not a mathy course. The emphasis is on observing which leads to questioning which leads to understanding.
Identify and critically evaluate the application of appropriate economic tools to organisationsCritique economic systems and analyse the allocation of scarce resources*Critically analyse economic principles and reasoning and evaluate the application of these to explain the behaviour of individuals and organizations.*Analyse economic theories to gain an in-depth explanation of observed real world outcomes, with regards to national and international contexts.*Communicate economic ideas in language appropriate to the audience.*Aligned with Tertiary Learning Outcomes for the CA and ACA required Topic Areas: NZICAIn this course the emphasis is on:applying the tools of economics to understand why people do what they do – tools such as supply and demand will help explain the behaviour of people, firms, governments, countries and markets.explaining the behaviour of individuals and organisations as those individuals and organisations go about their everyday lives.using economic thinking to provide in depth explanations of observed real world outcomes.
Any 15 points in ECON at 300-level or above.
Students must attend one activity from each section.
Lectures for this course are recorded using the ECHO360 lecture recording system.
Stephen Hickson
The ‘45% rule’ applies to this course. That is, student needs to reach 45% weighted average across invigilated assessments. Please refer here for further information.Assessment in Te Reo MāoriIn recognising that Te Reo Māori is an official language of New Zealand, the University provides for students who may wish to use Te Reo Māori in their assessment. If you intend to submit your work in Te Reo Māori you are required to do the following:Read the Assessment in Te Reo Māori Policy and ensure that you meet the conditions set out in the policy. This includes, but is not limited to, informing the Course Coordinator 1) no later than 10 working days after the commencement of the course that you wish to use Te Reo Māori and 2) at least 15 working days before each assessment due date that you wish to use Te Reo Māori.The use of AI may or may not be permitted in courses. Within a course, permission may vary by assignment. It is the responsibility of the student to inform themselves about assessment conditions and submit work that is their own and that properly acknowledges the work of other people and tools, including generative artificial intelligence tools.
There is no single text book for this course. In general the slides will form the core of the material and help you understand what material to cover. On the LEARN site there are a set of videos from Marginal Revolution University (https://mru.org/). These can be used as a text – indeed I have set them out as they relate to our classes. They don’t quite cover everything we will but no textbook ever does. However, they are free.
LEARN
Domestic fee $1,198.00
International Postgraduate fees
* All fees are inclusive of NZ GST or any equivalent overseas tax, and do not include any programme level discount or additional course-related expenses.
This course will not be offered if fewer than 10 people apply to enrol.
For further information see Business Taught Masters Programmes on the departments and faculties page .