ECONS506-23A (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)

Niyi Alimi

Niyi Alimi
9203
MSB.2.05
See Moodle
niyi.alimi@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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What this paper is about

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Welcome to ECONS506-23A (HAM) : Economics for Business. This paper provides an introduction to the tools to analyse and understand the economic environment in which individuals and businesses operate, and the role of government in shaping that environment. It will provide an introduction to the key characteristics of different types of economic environments from both a business and a policy perspective, the ways in which market types can be analysed, and an introduction to macroeconomic issues that are helpful for business decision making.
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How this paper will be taught

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This paper will be taught via a mix of online activities, videos, and classes.
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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.

Students can also use the 6th Edition

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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
    [LO1]
    Linked to the following assessments:
  • Apply the model of supply and demand to analyse market problems in markets characterised by perfect competition
    [LO2]
    Linked to the following assessments:
  • Apply their knowledge to problems arising within the general business environment
    [LO3]
    Linked to the following assessments:
  • 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
    [LO4]
    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
    [LO5]
    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
    [LO6]
    Linked to the following assessments:
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Assessments

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How you will be assessed

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Extra Credit

During the semester we will run several spot quizzes in lectures. These quizzes will provide you feedback on how you are going with the paper, and give you the opportunity to practice multiple choice questions from the same test bank that we choose questions from for the tests and quizzes. Each spot quiz will be just five minutes long, and consist of a maximum of four multiple choice questions which may be on any topic covered up until the time of the quiz. You will receive immediate feedback. Each spot quiz that you complete will be worth extra credit for the next on-campus test (1 quiz completed = 2 extra test marks). In order to earn the extra credit, you must be in class at the time the quiz is taken.

The internal assessment/exam ratio (as stated in the University Calendar) is 100:0. Other assessment information is provided below, with additional details in Moodle.

PLEASE NOTE: The University of Waikato has zero-tolerance for plagiarism.

Click here to view the University of Waikato Grading Scale.
Click here to learn how to view Grades in Moodle.

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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
18 Mar 2023
11:00 PM
8
  • Online: Submit through Moodle
2. Online Quiz 2
1 Apr 2023
11:00 PM
8
  • Online: Submit through Moodle
3. Online Quiz 3
15 Apr 2023
11:00 PM
8
  • Online: Submit through Moodle
4. First Test
27 Apr 2023
2:00 PM
30
  • Online: Submit through Moodle
5. Online Quiz 4
13 May 2023
11:00 PM
8
  • Online: Submit through Moodle
6. Online Quiz 5
27 May 2023
11:00 PM
8
  • Online: Submit through Moodle
7. Final Test
8 Jun 2023
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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