ECONS101-22A (HAM)

Economics for Business and Management

15 Points

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Division of Management
School of Accounting, Finance and Economics

Staff

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Convenor(s)

Lecturer(s)

Administrator(s)

: denise.martin@waikato.ac.nz

Placement/WIL Coordinator(s)

Tutor(s)

Student Representative(s)

Lab Technician(s)

Librarian(s)

: yilan.chen@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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Business Economics and New Zealand Economy aims to introduce students to the essential aspects of the economic environment within which individuals and businesses operate. It will provide an introduction to the characteristics of economic decision-making by individuals and businesses, the central issues of business strategy from an economic perspective, and the key aspects of how businesses operate within and interact with the macroeconomy.

This paper will help you to understand and cope with the diverse economic problems that you might encounter as a business manager.

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Paper Structure

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IMPORTANT: ECONS101-22A(HAM) is a FLEXI-Sync paper. This means teaching is delivered online and some on-campus activities are available face-to-face. These on-campus activities are available for students to attend in person, however students can complete the whole paper online if they choose. The online content requires students to engage at specific points in time and is therefore synchronous.

The paper is taught through lectures and tutorials. Some lectures will be available pre-recorded (podcast form) prior to the sessions. All lectures will be recorded and available via Panopto for you to refer to later. However, attendance at Zoom sessions and tutorials is strongly recommended. The paper is supported online through Moodle, and information about the paper will be shared via Moodle.

Please note because of the current COVID-19 situation, further adjustments may be needed to the arrangement and structure of the paper and any such changes will be communicated via Moodle.

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Learning Outcomes

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Students who successfully complete the paper should be able to:

  • 1. Apply selected models and the 'economic way of thinking' to explain and solve economic problems;
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  • 2. Use elasticities and game theory to anticipate how buyers, sellers, and competitors will react to changes in prices and other variables;
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  • 3. Use descriptive and graphical models to explain the behaviour and decision-making of firms that sell a differentiated product and have some market power;
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  • 4. Apply the model of supply and demand to analyse market problems in markets characterised by perfect competition;
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  • 5. Use descriptive and graphical models to explain how NZ's GDP, employment and overall price level are determined, and how changes in the macroeconomy may influence the behaviour of buyers and firms;
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  • 6. Apply their knowledge to problems arising within the general business environment.
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Assessment

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Please note: ECONS101-22A is a FLEXI-SYNC paper. There will be no exams and references to examinations below should be ignored.

The assessments for the paper and due dates are described in the assessment components below

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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. Test 1
14 Apr 2022
6:00 PM
30
  • Online: Submit through Moodle
2. Test 2
9 Jun 2022
6:00 PM
30
  • Online: Submit through Moodle
3. Weekly Quizzes, best 5 of 6
15
  • Online: Submit through Moodle
4. Tutorial Completion
6
  • Other: Through Zoom
  • In Class: In Tutorial
5. Video Completion
6
  • Online: Submit through Moodle
6. Critical Appraisal
16 Jun 2022
11:00 PM
13
  • Online: Submit through Moodle
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.

This book is a free e-book that can be accessed at http://www.core-econ.org/the-economy/index.html and can be downloaded as an app from the Google Play Store (for Android devices) or the Windows Store (for Windows 10 devices) (an iOS version will be released soon).

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Other Resources

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In addition to the required textbook (and additional resources that are associated with it online), students are encouraged to read widely including the business section of newspapers, The Economist magazine, and other similar sources.

Many other introductory microeconomics textbooks are available in the library and provide slightly different explanations that may help with learning. Posts on Michael Cameron's Sex, Drugs and Economics blog (tagged ECON100 or ECONS101) may also be helpful and provide additional real-world context to the concepts and theory discussed in class.
Students are also encouraged to visit interest.co.nz (http://interest.co.nz/) for commentary on current financial and economic issues in New Zealand.

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Online Support

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The paper is supported through Moodle
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Workload

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Students will be expected to spend four to eight hours per week additional to class contact hours as described above. This time should be spent on reading the textbook, reviewing the lecture notes and completing any computer based quiz questions. Students who have not studied Economics prior to this paper may find that they will need to spend a few extra hours on reading the textbook, or using one of the textbook-related computer packages or websites, compared to students who have studied up to NCEA Level 3 Economics or equivalent.
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Linkages to Other Papers

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Note any linkages to other papers where the linkage is of importance.
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Prerequisite(s)

Corequisite(s)

Equivalent(s)

Restriction(s)

Restricted papers: ECON100

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