MBAZ602-21T1 (C) Term One 2021

Business Economics

15 points

Details:
Start Date: Monday, 1 February 2021
End Date: Sunday, 25 April 2021
Withdrawal Dates
  • Without financial penalty (full fee refund): Sunday, 14 February 2021
  • Without academic penalty (including no fee refund): Friday, 19 March 2021

Description

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.

Learning Outcomes

  • In 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.



    Specific Learning Outcomes:
    At the end of this course, student will be able to:

    1. Identify and critically evaluate the application of appropriate economic tools to organisations

    2. Critique economic systems and analyse the allocation of scarce resources*

    3. Critically analyse economic principles and reasoning and evaluate the application of these to explain the behaviour of individuals and organizations.*

    4. Analyse economic theories to gain an in-depth explanation of observed real world outcomes, with regards to national and international contexts.*

    5. Communicate economic ideas in language appropriate to the audience.


    *Aligned with Tertiary Learning Outcomes for the CA and ACA required Topic Areas: NZICA

Pre-requisites

Subject to the approval of the Programme Director

Restrictions

MBAD604, MBUS614

Timetable 2021

Students must attend one activity from each section.

Lecture A
Activity Day Time Location Weeks
01-P1 Monday 10:00 - 13:00 Rehua 620
1 Feb - 7 Feb
01-P2 Tuesday 17:00 - 20:00 Rehua 620
8 Feb - 14 Feb
01-P3 Monday 09:00 - 12:00 F3 Lecture Theatre (15/2)
Rehua 620 (22/2-12/4)
15 Feb - 18 Apr
Workshop A
Activity Day Time Location Weeks
01 Monday 15:00 - 17:00 Rehua 103 Project Workshop
15 Feb - 21 Feb
Workshop B
Activity Day Time Location Weeks
01 Friday 15:00 - 17:00 Rehua 620
15 Feb - 21 Feb
Workshop C
Activity Day Time Location Weeks
01 Friday 13:00 - 15:00 Rehua 620
22 Feb - 28 Feb

Course Coordinator

Laura Meriluoto

Laura Meriluoto

Waea / Phone ext. 93792 (W)
Imera / Email laura.meriluoto@canterbury.ac.nz

Assessment

Markets assignment                10%                 9am on 15 February

Essay                                      30%                 9am on 15 March

Journal                                    30%                 9am on 12 April

Test                                         30%                 9am on 19 April

The essay, journal and test are individual.  The markets assignment can be done with others.  


Market Assignment
The market assignment contributes 10% to the total grade.  See the document on Learn for details including how this is marked.  You will be able to work with others if you choose.  


Journal
You need to submit an “economic journal”. See the document on Learn for details including how this is marked.  


Essay
The essay will ask you to engage with the academic literature of economics and investigate a relevant topic using the language and lens of economists.


Test
I’ll advise the conditions and format of the test via Learn.  


To pass the course you must meet the 45% threshold in the final test.  Students who obtain 50% or more in the course overall but do not meet the 45% test threshold will be given a re-sit opportunity in the first week of the following term.  The maximum score awarded in the resit version of the test will be 45%.

See https://learn.canterbury.ac.nz/mod/page/view.php?id=1072638&inpopup=1 for information on grading standards and expectations of student work in the BTM programme.

Textbooks / Resources

There is no single text book for this course.  In general the slides will form the core of the material.  On the Learn site there are two sets of resources that you can use to support your learning:

1. A set of useful readings from selected texts on Learn to support the material covered in class and provide a text book like resource for students.

2. Links to relevant videos from the online economics course at Marginal Revolution University (https://mru.org/).

Course links

Learn

Indicative Fees

Domestic fee $1,231.00

* 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.

Minimum enrolments

This course will not be offered if fewer than 10 people apply to enrol.

For further information see Business Taught Masters Programmes on the department and colleges page.

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