ECONS506-23G (HAM)

Economics for Business

15 Points

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The University of Waikato
Academic Divisions
Division of Management
School of Accounting, Finance and Economics

Staff

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Convenor(s)

Michael Ryan

Michael Ryan
See Moodle
michael.ryan@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)

: em.pooley@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 ECONS506-23G (HAM) : Economics for Business.

The goal of this paper is to help students understand the economic environment in which individuals and businesses operate, and the role of government in shaping that environment. We will also cover some of the important topics in macroeconomics from a New Zealand perspective.

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How this paper will be taught

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This paper is taught via two three-hour lecture/workshop sessions each week.

The first three-hour session will be pre-recorded and made available to students on Fridays via Moodle. The first lecture will be uploaded on Friday 10 November.

The second three-hour session will be taught in person on Tuesdays between 9AM to noon on campus in MSB 1.03. It is expected that you have watched the first three-hour lecture recording before we meet on Tuesdays. Tutorials will be held in the last hour of the Tuesday lecture

We will not meet on campus on Mondays (so ignore the first row of the timetabled information),

Students are expected to complete the assigned readings, activities and assessments.

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Required Readings

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Here is the link to the reading list : ECONS 506 Waikato Reading List

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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All assessment information can be found below.
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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. Weekly Quiz 1
17 Nov 2023
4:00 PM
11
  • Online: Submit through Moodle
2. Weekly Quiz 2
24 Nov 2023
4:00 PM
11.5
  • Online: Submit through Moodle
3. First Test
1 Dec 2023
1:00 PM
33
  • Online: Submit through Moodle
4. Weekly Quiz 3
8 Dec 2023
4:00 PM
11.5
  • Online: Submit through Moodle
5. Final Test
15 Dec 2023
1:00 PM
33
  • 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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