ECONS101-23VA (VTN)

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)

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: 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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What this paper is about

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Economics for Business and Management 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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How this paper will be taught

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There are significant assessments that only occur on-­campus. You will not be able to complete this paper remotely. However, there are contingencies in place should any assessment, lecture or tutorial be affected by a nationwide or localised lockdown.

The paper is taught through lectures (3 hours per week), and tutorials (1 or 2 hours per week).

GroupDayTimeRoom
SCMWednesday1pm to 4pmA2-801
DBTuesday1pm to 4pmA2-814
  • Tutorials (all in Hanoi time):
GroupDayTimeRoom
SCMThursday1pm to 3pmA2-801
DBTuesday7:30am to 9:30amA2-814
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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). The book was developed by a team of highly-respected professors, and is currently being used at many other universities throughout the world.

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Learning Outcomes

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Students who successfully complete the course 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 elasticities 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
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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 NZ'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 of economics to problems arising within the general business environment.
    Linked to the following assessments:
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Assessments

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How you will be assessed

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The internal assessment/exam ratio (as stated in the University Calendar) is 50:50. There is no final exam. The final exam makes up 50% of the overall mark.

The internal assessment/exam ratio (as stated in the University Calendar) is 50:50 or 0:0, whichever is more favourable for the student. The final exam makes up either 50% or 0% of the overall mark.

Component DescriptionDue Date TimePercentage of overall markSubmission MethodCompulsory
1. Test 1
20 Apr 2023
3:00 PM
16.5
  • Other: At test venue
2. Test 2
8 Jun 2023
2:00 PM
16.5
  • Other: At test venue
3. Online Tests, best 10 of 11
13
  • Other: TBA
4. Tutorial Completion
4
  • In Class: In Tutorial
5. Exam
50
Assessment Total:     100    
Failing to complete a compulsory assessment component of a paper will result in an IC grade
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