ECONS506-22A (HAM)

Economics for Business

15 Points

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Division of Management
School of Accounting, Finance and Economics

Staff

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Convenor(s)

Dan Marsh

Dan Marsh
4950
MSB.2.13
See Moodle
dan.marsh@waikato.ac.nz

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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Economics for Business aims to introduce you to the essential aspects of the economic environment within which individuals and businesses operate. It provides 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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This is a FLEXI paper that will have learning available both face-to-face (on campus) and online thereby offering flexibility in terms of where and how students learn.

Students should confirm the timing and location of face-to-face and live (synchronous) sessions in Moodle. These are subject to change - because of the University response to Covid -19 and constraints faced by the paper convenor.

Students taking the paper on-line should view the recorded materials and complete the paper requirements via Moodle. Interactive zoom sessions will be scheduled for students taking the paper on-line. For assessment, please note there are some elements that require students to be online at specified times. More details will be provided in Moodle.

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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
    Apply selected models and the 'economic way of thinking' to explain and solve economic problems
    Linked to the following assessments:
  • 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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  • 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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  • Apply the model of supply and demand to analyse market problems in markets characterised by perfect competition
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  • Use descriptive and graphical models to explain how 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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  • Apply their knowledge to problems arising within the general business environment
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Assessment

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Assessment information is provided below, with additional details in Moodle.

PLEASE NOTE: The University of Waikato has zero-tolerance for plagiarism.
Click here for help with APA Referencing.

All assessment must be submitted as a word document unless otherwise stated.

Click here to view the University of Waikato Grading Scale.
Click here to learn how to view Grades in Moodle.
Click here to learn how to use Turnitin to view Feedback.
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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. Online Quiz 1
25 Mar 2022
11:00 AM
5
  • Online: Submit through Moodle
2. Online Quiz 2
14 Apr 2022
11:00 AM
7.5
  • Online: Submit through Moodle
3. Assignment 1 (Group project)
3 May 2022
10:00 PM
25
  • Online: Submit through Moodle
4. Online Quiz 3
20 May 2022
11:00 AM
7.5
  • Online: Submit through Moodle
5. Assignment 2
22 May 2022
10:00 PM
25
  • Online: Submit through Moodle
6. Final Test
13 Jun 2022
2:00 PM
30
  • 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 prescribed textbook for this paper is The Economy by the CORE team. It is available free online here https://core-econ.org/the-economy/?lang=en

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Recommended Readings

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Most resources required for this paper can be found on the CORE website https://www.core-econ.org/

For students who would like to read a 'hard copy' textbook from the library we recommend

Principles of Economics, 6th Ed. by Mankiw

Basic Economics, 5th Ed, by Sowell - Chapter 1 is recommended for those who have not studied economics before.

However, many other principles of economics or introductory economics texts will do just as well.

Additional resources may be identified over the semester.

Students are strongly encouraged to read The Economist and the National Business Review.

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Online Support

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Online support will be provided via Moodle and Zoom
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Workload

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According to the university points system, students are expected to spend 150 hours in total on a 15-point paper.

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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)

Prerequisite papers: Acceptance into the MPAcct or MAppFin programme.

Corequisite(s)

Equivalent(s)

Restriction(s)

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