ECONS101-21B (NWC)

Business Economics and the New Zealand Economy

15 Points

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External Organisations
Study Group

Staff

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Convenor(s)

Lecturer(s)

Administrator(s)

: sally.thompson@waikato.ac.nz

Placement/WIL Coordinator(s)

Tutor(s)

Student Representative(s)

Lab Technician(s)

Librarian(s)

: clive.wilkinson@waikato.ac.nz

You can contact staff by:

  • Calling +64 7 838 4466 select option 1, then enter the extension.
  • Extensions starting with 4, 5, 9 or 3 can also be direct dialled:
    • For extensions starting with 4: dial +64 7 838 extension.
    • For extensions starting with 5: dial +64 7 858 extension.
    • For extensions starting with 9: dial +64 7 837 extension.
    • For extensions starting with 3: dial +64 7 2620 + the last 3 digits of the extension e.g. 3123 = +64 7 262 0123.
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Paper Description

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This paper offers insights into the behaviour of consumers, firms, and the government within the economy, giving students skills in analysing and predicting the actions of individuals and businesses. The course is designed in a way that it will be interactive, fun, and reflective as well. The goal is that you will appreciate how private economic agents (businesses and households) respond to incentives as they seek to maximise their objective within a set of constraints that they might face within the wider business environment. Practical application using case studies and data on the New Zealand economy will make this paper fun and relevant as learners get the opportunity to apply the theories and concepts learned in class.

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Paper Structure

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The delivery approach will be a blend of lectures and tutorials and are all going to be online-based. The synchronous online lecture sessions will rely on Zoom technology. There will be opportunities for breakout sessions during the tutorials to allow students to work as a team in problem-solving a given task. Though online, total participation by each learner is expected to make the course fun, engaging, and interactive. There are other resources such as the recommended (free) online textbook (with its downloadable app), Panopto, videos (based on the topic from the Economy Core Textbook), and a host of online and other materials accessible on Moodle. Your attendance and full participation will ensure that you succeed in this paper. You are encouraged to prepare ahead of class as that is always helpful in ensuring your active participation and can greatly improve your understanding of the key concepts to be discussed.

Again, please note that the amount of time and effort you put into this course will have a significant impact on your successful outcome. You are therefore encouraged to take full advantage of all the resources that would be provided in the Moodle. Class sessions and assessment submission deadlines are set based on NZST. Ensure that you have checked what that means for your own country (local) time zone, so you do not miss any assessment submissions.

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Learning Outcomes

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Students who successfully complete the paper should be able to:

  • apply selected models and the 'economic way of thinking' to explain and solve economic problems.

    Linked to the following assessments:
  • use elasticity and game theory to anticipate how buyers, sellers, and competitors will react to changes in prices and other variables.
    Linked to the following assessments:
  • use descriptive and graphical models to explain the behaviour and decision-making of firms that sell a differentiated product and have some market power.

    Linked to the following assessments:
  • apply the model of supply and demand to analyse market problems in markets characterised by perfect competition.
    Linked to the following assessments:
  • use descriptive and graphical models to explain how New Zealand's GDP, employment and overall price level are determined, and how changes in the macroeconomy may influence the behaviour of buyers and firms.
    Linked to the following assessments:
  • apply their knowledge to problems arising within the general business environment.
    Linked to the following assessments:
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Assessment

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There are three (3) assessments to be completed and submitted. Each assessment is carefully designed to assess your skills around case analysis, problem-solving and critical thinking as key requirements for economic analysis. These sets of assessments cover ALL the six (6) learning outcomes and most parts of the twelve (12) module outlined topics. Please NOTE that, ALL 3 assessments are 'take-home' that require you to strictly keep to the set submission deadline.

The assessments are a blend of PowerPoint presentations, Case-studies, summary responses to the tasks guided by either video contents analysis or data analysis (with an excel spreadsheet). The early start of the assessment preparation will ensure that there would be a proofread assessment that meets the standards for the passing threshold. Plagiarism and substandard assessment can therefore be avoided when learners start their assessment preparation early enough.

Assessments will be submitted through Moodle, either on or ahead of the set deadline. Kindly refer to the detailed submission instructions and assessment-specific requirements in each assessment. Please take advantage of the accompanying marking rubrics for each assessment as that guide you on where more efforts are required. Further insights will be offered during our Zoom meeting to help clarify the submission and any other instructions on the assessments. All assignments will be graded per the University’s grading system, using letters to reflect the learner’s performance.

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Assessment Components

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The internal assessment/exam ratio (as stated in the University Calendar) is 100:0. There is no final exam. The final exam makes up 0% of the overall mark.

The internal assessment/exam ratio (as stated in the University Calendar) is 100:0 or 0:0, whichever is more favourable for the student. The final exam makes up either 0% or 0% of the overall mark.

Component DescriptionDue Date TimePercentage of overall markSubmission MethodCompulsory
1. Case analysis and application of relevant theories and PPTX
15 Aug 2021
11:30 PM
30
  • Online: Submit through Moodle
2. Application of Microeconomic concepts based on set scenarios & PPTX
19 Sep 2021
11:30 PM
30
  • Online: Submit through Moodle
3. Application of Macroeconomic Concepts based on set scenarios & PPTX
21 Oct 2021
11:30 PM
30
  • Online: Submit through Moodle
4. Behavioural Assessment: Attendance and Active Participation
10
  • Other: Not Applicable. Reliance on historical records
Assessment Total:     100    
Failing to complete a compulsory assessment component of a paper will result in an IC grade
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Required and Recommended Readings

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Required Readings

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The CORE Team. (n.d.). The Economy. in the main text for this course

This is a free e-book that can be accessed at https://www.core-econ.org/the-economy/?lang=en and are downloadable as an app from Google Play Store (for android devices) or Windows Store (for Windows 10 devices). The has been developed by economic professors who are experienced and respected in the field of teaching of the subject. The materials are being used by renowned Universities/Institutions globally noted among them are: University College London, Sciences PO (Paris), the Toulouse School of Economics, Azim Premji University (Bangalore), Humboldt University (Berlin), the Lahore University of Management Sciences and a host of other world-class universities.

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Recommended Readings

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Students are encouraged to read widely beyond that text materials recommended. There are host of Free-PDF version of Economics textbooks (both Macro and Micro), content of which cover all or most of the topics to be treated in this course. Learners are encouraged to take advantages of these online resources that are freely available and can prove to be immensely useful. Reading Business and financial news section of Local New Zealand newspapers (online) or from The Economist magazine could be very helpful as well.
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Online Support

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Most communication and information sharing will be on the Moodle forum. ZOOM sessions for the tutorials will present an opportunity for learners to clarify any concept they might have missed during the main lecture sessions.
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Workload

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The 15 point paper translating into 150 hours, with Tutor-Learners contact hours of 48, means that Learners need to spend a minimum of 102 hours for the entire duration of the course. This means that a minimum of anhour a day must be spent on the course as self-directed learning (independent) and for assessment preparation.

Summary of Shared Workload

Contact HoursSelf-directed Hours Total Hours Total Hours
48 102 150
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Linkages to Other Papers

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Prerequisite(s)

Corequisite(s)

Equivalent(s)

Restriction(s)

Restricted papers: ECON100

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