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ECO1000 Economics

Semester 3, 2014 External Toowoomba
Units : 1
Faculty or Section : Faculty of Business, Education, Law and Arts
School or Department : School of Commerce

Contents on this page


Examiner: Shane Zhang
Moderator: Khorshed Alam

Other requisites

Students are required to have access to a personal computer, e-mail capabilities and Internet access to UConnect. Current details of computer requirements can be found at //


Economics is a social science that studies how society manages its scarce resources. In this course, students will learn how to use resources more efficiently and how to allocate things in a manner that makes us all better off. All politicians and business people today use the language and ideas of economics. Economics is all around us and has become part of our everyday life. An understanding of the economic way of thinking and the principles of economics are essential for those who want to participate in a modern society.


Economic concepts and ideas are used in both business and government as the basis for much decision-making. This course introduces students to the main economic concepts and provides them with the opportunity to explore some of the key contemporary business and economic issues. Students not only learn the basic tenets of the discipline, but also able to relate these concepts to understand real-world problems through case studies. These case studies place students in real world situations requiring them to apply their theoretical understanding to explain and critically analyse these problems faced by business and economic managers in the 21st century. It covers both micro and macro economics.


On completion of this course students will be able to:

  1. identify and interpret patterns evident in economic data presented in graphs and tables
  2. explain and apply key economic concepts to business and economic decision-making
  3. explain major problems faced by economic and business managers in the 21st Century
  4. evaluate selected instruments of microeconomic and macroeconomic policy
  5. demonstrate academic research and writing, and critical analysis and thinking skills.


Description Weighting(%)
1. Introduction to economics 2.00
2. How the market works 32.00
3. Firms and market structures 16.00
4. Macroeconomic foundation 16.00
5. Monetary and fiscal policy 32.00
6. Conclusion 2.00

Text and materials required to be purchased or accessed

ALL textbooks and materials available to be purchased can be sourced from USQ's Online Bookshop (unless otherwise stated). (

Please contact us for alternative purchase options from USQ Bookshop. (

  • Stiglitz, J, Walsh, C, Gow, J, Guest, R, Richmond, W & Tani, M 2014, Principles of economics: first Australian edition, John Wiley and Sons, Milton, Queensland.
  • Students doing this course should regularly access the ECO1000 course website (textbook resources) to practise the quizzes and tests. The iStudy (interactive study guide) is a multimedia resource containing a vast range of interactive modules and videos, to enhance the understanding and practical application of key economic concepts. The iStudy is fully integrated with the e-text, and is also available as a complement to the printed text.

Reference materials

Reference materials are materials that, if accessed by students, may improve their knowledge and understanding of the material in the course and enrich their learning experience.
  • Hubbard, R, Garnett, A, Lewis, P & O?Brien, A 2012, Essentials of economics, 2nd edn, Pearson, Frenchs Forest, New South Wales, 2nd edn, Pearson, Frenchs Forest, New South Wales.
  • Layton, A, Robinson, T & Tucker, IB 2012, Economics for today, 4th edn, Cengage Learning, South Melbourne, Victoria.
    (Asia-Pacific edition.)
  • McTaggart, D, Findlay, C & Parkin, M 2010, Economics, 6th edn, Pearson, Frenchs Forest, New South Wales.
  • Olney, ML 2009, Microeconomics as a second language, John Wiley & Sons, Hoboken, New Jersey.
  • Olney, ML 2011, Microeconomics as a second language, John Wiley & Sons, Hoboken, New Jersey.

Student workload requirements

Activity Hours
Assignments 30.00
Directed Study 78.00
Private Study 52.00

Assessment details

Description Marks out of Wtg (%) Due Date Notes
ONLINE QUIZ 20 10 12 Dec 2014 (see note 1)
ASSIGNMENT 40 40 12 Jan 2015
EXAMINATION - PART A 10 10 End S3 (see note 2)

  1. The online quiz will be only available on the StudyDesk from 9.00am 12/12/14 to 9.00am 14/12/14 (AEST). Any student in a remote area without access to UConnect should contact the examiner in the first week of the semester.
  2. The examination is scheduled to be held in the end-of-semester examination period. Students will be advised of the official examination date for Exam (Parts A, B and C) after the timetable has been finalised. The total working time for Exam (Parts A, B and C) is 2 hours.

Important assessment information

  1. Attendance requirements:
    If you are an international student in Australia, you are advised to attend all classes at your campus. For all other students, there are no attendance requirements for this course. However, it is the students' responsibility to study all material provided to them or required to be accessed by them to maximise their chance of meeting the objectives of the course and to be informed of course-related activities and administration.

  2. Requirements for students to complete each assessment item satisfactorily:
    To satisfactorily complete an individual assessment item a student must achieve at least 50% of the marks. (Depending upon the requirements in Statement 4 below, students may not have to satisfactorily complete each assessment item to receive a passing grade in this course.)

  3. Penalties for late submission of required work:
    Students should refer to the Assessment Procedure (point 4.2.4)

  4. Requirements for student to be awarded a passing grade in the course:
    To be assured of receiving a passing grade a student must achieve at least 50% of the total weighted marks available for the course.

  5. Method used to combine assessment results to attain final grade:
    The final grades for students will be assigned on the basis of the aggregate of the weighted marks obtained for each of the summative assessment items in the course.

  6. Examination information:
    This is a restricted examination. Candidates are allowed access to specific materials during the examination. The only materials that candidates may use in the examination for this course are:
    1. writing materials (non-electronic and free from material which could give the student an unfair advantage in the examination)
    2. calculators which cannot hold textual information (students must indicate on their examination paper the make and model of any calculator(s) they use during the examination)
    3. English translation dictionaries (but not technical dictionaries).

  7. Examination period when Deferred/Supplementary examinations will be held:
    Any Deferred or Supplementary examinations for this course will be held during the next examination period.

  8. University Student Policies:
    Students should read the USQ policies: Definitions, Assessment and Student Academic Misconduct to avoid actions which might contravene University policies and practices. These policies can be found at

Assessment notes

  1. Assignments:
    1. The due date for an assignment is the date by which a student must submit the assignment to the USQ.
    2. Students must retain a copy of each item submitted for assessment. This must be produced within 24 hours if required by the examiner.
    3. In accordance with university policy, the examiner may grant an extension of the due date of an assignment in extenuating circumstances.

  2. Course weightings:
    Course weightings of topics should not be interpreted as applying to the number of marks allocated to questions testing those topics in an examination paper.

  3. Referencing in assignments:
    Harvard (AGPS) is the referencing system required in this course. Students should use Harvard (AGPS) style in their assignments to format details of the information sources they have cited in their work. The Harvard (AGPS) style to be used is defined by the USQ Library's referencing guide at //

  4. Deferred work:
    Students who, for medical, family/personal, or employment-related reasons, are unable to complete an assignment or to sit for an examination at the scheduled time may apply to defer an assessment in a course. Such a request must be accompanied by appropriate supporting documentation and students should apply before the scheduled date of the assessment. One of the following temporary grades may be awarded IDS (Incomplete - Deferred Examination); IDM (Incomplete Deferred Make-up); IDB (Incomplete - Both Deferred Examination and Deferred Make-up).

Other requirements

  1. Computer, e-mail and Internet access:
    Students are required to have access to a personal computer, e-mail capabilities and Internet access to UConnect. Current details of computer requirements can be found at //