EXMBM514-22C (HAM)

Economics and the Global Context

15 Points

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Division of Management
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Convenor(s)

Zac Isaac

Zac Isaac
See Moodle
zac.isaac@waikato.ac.nz

Lecturer(s)

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: mbmenquiries@waikato.ac.nz

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: yilan.chen@waikato.ac.nz

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Paper Description

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This paper will provide you with a robust introduction to economics. After establishing the tools used to analyse and understand the economic environment in which individuals and businesses operate, we will proceed to consider the key aspects of how businesses operate within and interact with the macroeconomy. By improving your understanding of essential aspects of the economic environment and extending to the global context, this paper will help you to understand and cope with the diverse economic problems that you will encounter as a business manager.

Study Hints

Lecture slides will be provided before each class. Readings will be listed to support each set of lecture notes. The lecture notes themselves will be a valuable resource providing a summary of the main concepts and applications in the readings.

The assessment will consist of three online quizzes, a case study/group project that includes a significant individual component, and a final test. The online quizzes and final test will be based on concepts covered in the preceding lectures. The final test will consist of multiple-choice and short-answer questions. The case study/group project will be based on an analysis of the business and macroeconomic environment of a chosen country.

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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. Face-to-face classes will take place during the scheduled periods (11 a.m. to 2 p.m., New Zealand time) while maintaining remote and recorded access options for those not on campus. For assessment, please note there are some elements that will require students to be online at specified times. More details can be found on Moodle.

Students should confirm the timing and location of face-to-face and live (synchronous) sessions on Moodle. These are subject to change, though the intention is for the lecture times and locations to remain as listed.

Students taking the paper online should view the recorded materials and complete the paper requirements via Moodle. Interactive Zoom sessions will be scheduled for students taking the paper online.

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Learning Outcomes

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Students who successfully complete the paper should be able to:

  • Use elasticities, the supply and demand model, and game theory to anticipate how buyers, sellers and competitors will react to changes in prices and other variables.
    Linked to the following assessments:
  • Solve business problems relating to pricing and other strategies.
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  • Identify and evaluate business opportunities.
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  • Identify the role of government in shaping business opportunities and challenges.
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  • Appraise and explain the complex domestic and international business environment.
    There will be a focus on macroeconomic issues like inflation, unemployment, and exchange rates.
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  • Demonstrate an understanding of the macroeconomic environment, especially government fiscal and monetary policies and their implications for business.
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  • Demonstrate an understanding of issues related to international trade, and why international trade is important.
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  • Identify and respond to emerging opportunities in a dynamic global economy.
    Linked to the following assessments:
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Assessment

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Assessment information is provided below, with additional details on Moodle

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

All assessments 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
4 Dec 2022
11:30 PM
5
  • Online: Submit through Moodle
2. Online Quiz 2
18 Dec 2022
11:30 PM
7.5
  • Online: Submit through Moodle
3. Online Quiz 3
15 Jan 2023
11:30 PM
7.5
  • Online: Submit through Moodle
4. Case Study: Group Project
5 Feb 2023
11:30 PM
20
  • Online: Submit through Moodle
5. Case Study: Individual Component
5 Feb 2023
11:30 PM
30
  • Online: Submit through Moodle
6. Final Test
9 Feb 2023
11:00 AM
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 "PRINCIPLES OF ECONOMICS", 7TH EDITION, BY GANS, KING, STONECASH, ET AL.

Note: The 6th edition of the textbook is also suitable.

Lecture notes are provided for all key elements of this paper and can be found on Moodle. Students will also find it useful to keep up to date with New Zealand and international business news. There will be additional readings compiled from news articles that focus on the relevant topics in the class materials. These topical issues from news articles will be discussed in tutorials.

You may download relevant material and read prior to attending each session via this University of Waikato Reading List:

https://rl.talis.com/3/waikato/lists/F8756586-069B-D04A-5F33- 315D2CE00F0C.html

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Recommended Readings

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Other strongly recommended texts are:

Economics for Business: Blending Theory and Practice, 2nd Ed, by Worthington, Britton and Rees

Principles of Economics, 6th Ed. by Mankiw

Economics, 10th Ed. by Begg et al.

Principles of Economics, 4th Ed, by Frank and Bernanke

Economics, 4th Ed, by McTaggart

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

However, almost any 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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Waikato Management School Helpdesk: wms_helpdesk@waikato.ac.nz, 0800 WAIKATO, extn 4599

ITS: https://landesk.waikato.ac.nz0800 WAIKATO,extn 4008

Moodle help files

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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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Prerequisite(s)

Corequisite(s)

Equivalent(s)

Restriction(s)

Restricted papers: EXPM506

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