This subject is designed to familiarise students with some of the basic concepts and relationships of the discipline. It was developed to prepare students for undergraduate study in the academic discipline area of commerce/business and educate students as to the crucial role economic decisions have in society and how economic problems and issues dominate media and politics. By understanding Economics, students are empowered to participate effectively and knowledgeably in economic debate.

This subject is designed to familiarise students with some of the basic concepts and relationships of the discipline. It was developed to prepare students for undergraduate study in the academic discipline area of commerce/business and educate students as to the crucial role economic decisions have in society and how economic problems and issues dominate media and politics. By understanding Economics, students are empowered to participate effectively and knowledgeably in economic debate.

This subject is an introduction to microeconomics. It provides students with an understanding of basic concepts such as value, rational consumer behaviour, the behaviour of firms in various market structures, the efficiency and failings of markets, the distribution of wealth and income, and the role of government regulation and intervention. It illuminates these concepts by considering and debating their application to contemporary economic and social issues such as: the influence of marketing on consumer choices, the concentration of market power in Australian industries, rising income and wealth inequality, minimum wage laws, and governmental responses to environmental problems and climate change.

The investment, financing and risk management decisions made by individuals, firms and governments are implemented by creating and trading financial instruments in financial markets, often with the involvement of a variety of institutions. Using the Australian financial system as an illustration, Financial Institutions and Markets introduces students to the theory and functions of financial institutions and markets. Students develop an understanding of the role and functions of bank and non-bank financial institutions and of markets in equities, debt, foreign exchange and derivatives.

The investment, financing and risk management decisions made by individuals, firms and governments are implemented by creating and trading financial instruments in financial markets, often with the involvement of a variety of institutions. Using the Australian financial system as an illustration, Financial Institutions and Markets introduces students to the theory and functions of financial institutions and markets. Students develop an understanding of the role and functions of bank and non-bank financial institutions and of markets in equities, debt, foreign exchange and derivatives.

This subject provides an overview of the processes promoting globalisation and their impact upon Australian economic development. The subject stresses the interaction between the globalisation tendency and counteracting forces such as nationalism, and the contradictory economic, environmental, political, racial and class interests that have mediated and shaped the local impact of globalisation on the development of the Australian economy. The subject concludes by examining the socio-economic and environmental outcomes that ongoing globalisation is likely to produce in the 21st century for the world and Australia including the possibilities and prospects for indigenous economic development.

Introduction to Economic Methods covers basic concepts in mathematics and statistics to help student understanding of subjects such as accounting, management, marketing, finance, and economics. Students taking this subject are expected to improve their numeracy and analytical skills. In particular, students will learn how to collect, analyse and interpret data using simple descriptive and inferential statistical methods including simple regression analysis. In addition, by working through applied exercises, students are expected to improve their problem solving skills and acquire a basic understanding of calculus relevant to fields such as finance.

This subject is an introduction to economic concepts and contemporary economic issues. It introduces students to basic concepts such as markets and their operation, the behaviour of firms, the efficiency and potential failings of markets, the role of government, key macroeconomic problems such as recessions, inflation and unemployment, as well as contemporary fiscal and monetary policies. It illuminates concepts via application to contemporary economic issues and debates over different theoretical perspectives. This subject also exposes students to recent developments and policy controversies in economics.

This subject is an introduction to macroeconomic concepts, analysis and issues in the Australian context. Basic concepts introduced and applied include: national income accounting, economic structure, price indexes and inflation, the balance of payments, and labour market aggregates. These concepts are applied in describing and explaining the recent evolution of the Australian economy in terms of growth, structural change, price stability, and employment. This leads to a discussion of major policy issues such as the role of governments in managing economic fluctuations, and the implications of Australia's foreign liabilities. The course ends with a brief introduction to modelling income determination.

This subject is an introduction to microeconomics. It provides students with an understanding of basic concepts such as value, rational consumer behaviour, the behaviour of firms in various market structures, the efficiency and failings of markets, the distribution of wealth and income, and the role of government regulation and intervention. It illuminates these concepts by considering and debating their application to contemporary economic and social issues such as: the influence of marketing on consumer choices, the concentration of market power in Australian industries, rising income and wealth inequality, minimum wage laws, and governmental responses to environmental problems and climate change.

This subject introduces the fundamental concepts of finance theory and the tools of financial decision making in the context of the Australian institutional environment. These concepts relate primarily to the time value of money, risk and return, capital budgeting and capital structure. The unit's purpose is to develop an understanding of the basic practices of financial management from the perspective of a firm (both large and small). Students examine the investment, financing and dividend decisions of corporations.

Globalisation and Trade focuses on the role of trade in the process of globalisation. It covers the history and analytical methods of international trade theories and their applications in private industry and the public sector. The theories are applied to contemporary issues in their institutional settings, in particular to: growth and development; trading blocs; and trade strategies in the developed, underdeveloped and formerly planned economies. The subject provides students with a critical understanding of the major economic, environmental, social and ethical issues stemming from the process of globalisation and trade in the twenty first century.

This subject introduces the ideas of the most influential economic writers since Aristotle. Their theoretic contributions are discussed in the context of the political and philosophical debates and the economic issues of their times. The subject focuses on the theories of value and distribution; business cycles; and money and economic growth. It examines the criteria for progress in economic thought and considers the role of ideology and values. Students read selections from the writings of Smith, Ricardo, Mill, Marx, Marshall, Keynes and institutional writers.

Macroeconomic Theory aims to provide alternative theoretical explanations of the working of the macroeconomy. The subject will be based on the analytical narratives of macroeconomic developments taught in Australian Macroeconomy. Starting from the basic IS-LM model, it derives the aggregate demand (AD) curve and examines the components of commodity and money markets. It also analyses the labour market and derives the aggregate supply (AS) curve of an economy. Using the AD-AS model, it examines the interdependent nature of macroeconomic problems (e.g. inflation, unemployment), and the effectiveness of fiscal and monetary policies within a closed economy context. The basic model is then extended to analyse open economy issues (e.g., exchange rates and balance of payments, external shocks and international interdependence). Whenever appropriate, alternative approaches to macroeconomics are evaluated.

This subject builds on the econometric methods of Economic Modelling. The focus is on the linear model in econometrics in its application to economic and financial time series. The emphasis is on learning by doing in small group workshops.

Australia's industrial, financial and retail sectors are dominated by powerful corporations which engage in a wide variety of competitive and cooperative behaviours. This subject examines how modern corporations position themselves in terms of investment in large-scale production, technological innovation, the manipulation of information, marketing, and cooperative strategies to gain market share and enhance their profitability. It also explores the effects of the interactions of corporate behaviour and public policy, including the governmental function of constructing and regulating explicit market rules of exchange.

This subject provides an introduction to the major classes of derivatives: forwards, futures, swaps and options. It examines how these instruments can be used by companies for the purposes of hedging, speculation and arbitrage. Each of these categories of derivatives is examined in some detail. Considerable attention is also given to various models used to price derivative products. The historical background to contemporary risk management is also considered.

In 2016, this subject replaced by 200925 - Growth, Cycles and Crises. Economic Theories, Controversies and Policies presents alternative approaches to economic theories, controversies and policies. Topics may include recent developments or theoretical controversies in development economics, international trade, monetary economics, labour economics, environmental economics, managerial and industry economics, political economy, the economics of inequality, behavioural economics or feminist economics. Controversial contemporary policy debates, both in Australia and globally, will be examined. This subject will be team taught to expose students to a range of perspectives.

Economic and Financial Modelling examines regression analysis and its use in business especially in economics, finance and accounting. Topics will include the properties of estimators, hypothesis testing, specification error, multicollinearity, dummy variables, heteroskedasticity, serial correlation. It also introduces other modelling techniques in finance and economics. Empirical assignments undertaken by the student form an integral part of the unit. The emphasis is on learning by doing in small group workshops.

This subject will provide students with exposure to problems with which economists and finance professionals are confronted in their daily work. They will learn about and examine the multi-dimensional nature of the issues addressed by economists and finance professionals in real-life. Students will need to consider the nature of the problems, propose solutions, as well as address how realistic the solutions they are proposing are. They will learn how to systematically reflect on their contribution to the industry or community setting with which they engage.

The major focus of this subject is the assessment and management of credit risk exposures and resulting implications on loan decisions and loan pricing decisions. The subject provides students with knowledge of traditional and modern credit risk measurement and management techniques, regulatory capital adequacy guidelines and economic capital decisions. Special topics covered include modern lending products and pertinent issues in lending. The subject covers current developments and debates in the field.

This subject provides an introduction to the theory and analytical techniques relevant to the management of Australian financial institutions. The subject presents a thorough examination of the major financial risks faced by Australian banks, and methods of measuring and managing these risks.

This subject aims to examine the role of the diverse economies of East Asia, Southeast Asia, and South Asia in the Global economy, and the complex economic, historical, political, social and cultural factors which have influenced and continue to shape the transformation of these economies. The subject will evaluate alternative development paradigms in light of the experience of these economies. The discussion will be cast within the wider debate about the role of foreign trade and investment flows. The subject will take the political economy approach to understanding both the transformation of these economies and their role in the Global Economy.

This subject focuses on the nature of state activity in the economy. The subject introduces students to different analytical approaches to the economic role of the state and considers their practical implications for economic policy analysis.

Growth, Cycles and Crises gives students an up-to-date understanding of macroeconomic developments, empirical puzzles, theoretical controversies and policy dilemmas of the day. It begins with an overview of different schools of thought and their historical roots. There follows an investigation of recent global crises, their underlying causes, and the policy responses in the major economic powers. We also consider the stresses on Australia resulting from global economic fluctuations and shifts, causing disruptive exchange rate swings and fiscal difficulties. Finally with major developments around the world and the controversies arising from them, such as debt crises and austerity debate, the problem of unbalanced growth in rapidly developing economies, and stagnation and policy zigzags apparent in some advanced economies.

The first part of this subject develops an understanding of the relationships between industry structure, the conduct of firms, and market performance. Alternative theories of the firm and strategic market behaviour are considered. The subject then examines the characteristics and operation of particular markets, including public goods and utilities, human resources, and natural and environmental resources. The analysis developed in the subject is used to provide insights into applied policy areas such as competition policy, regulation of public enterprises, microeconomic reform and industry policy.

The study of international finance from the vantage point of a multinational enterprise provides students with a global insight into international trade for both manufactured and financial products. The subject recognises the increasing importance of global integration of money and capital markets - a trend that is creating expanded opportunities for both investors and organisations that need to raise capital. The recognition and management of risks associated with international operations are explored including cost of capital and financial structure, international financial markets crisis, international financial management, international monetary system, international diversification, foreign exchange risk management including the use of futures and options, foreign investment analysis, determination of exchange rates, balance of payments analysis, international debt crisis and country risk analysis.

In 2016, this subject replaced by 200926 - Macroeconomic Measures and Models. Macroeconomic Issues provides tools to assess competing explanations, predictions and policy recommendations regarding the macroeconomy. Building on the introductory concepts, measures and simple theories, this subject develops a comprehensive model for identifying and quantifying the sources and mechanisms of macroeconomic change. A systematic modelling approach reveals whether differences are rooted in assumptions or empirical claims. We focus on Australia, but consider controversies relating to the USA, Asia and Europe, given their impact on global conditions and the lessons they offer for Australia. Topics include productivity and growth, the determinants of unemployment and inflation, the role of exchange rates in adjustment, and monetary and fiscal policy design.

The subject equips students with formal tools to analyse macroeconomic problems. Students learn to use macroeconomic terms and measures competently in discussion, and interpret data from the income, product, external and government accounts, and labour force surveys. Through hands-on experience constructing and applying price indices, deflators and productivity measures, they acquire practical skills and a sound conceptual understanding of economic variables and the accounting framework. Students come to appreciate the power of macroeconomic models, learning how to capture myriad mechanisms and feedbacks in a single framework, for example to define and quantify multipliers and crowding-out effects. Finally, students gain an understanding of fundamental external constraints, such as international parity and balance of payments equilibrium conditions.

In 2016, this subject replaced by 200923 - Corporations, Economic Power and Policy. The aim of Microeconomic Theory and Applications is to extend students' knowledge of microeconomic theory developed in Principles of Economics. After a more formal presentation, the rather idealistic assumptions used in the context of the perfectly competitive markets will be relaxed in order to model typical situations encountered in the business world. The theory of choice will be extended to situations where individuals face uncertainty regarding the outcome of their own actions. In terms of market structure, we will investigate the consequences in terms of price, quantity and consumer's surplus, of monopoly, oligopoly or duopoly markets. As some of these market structures imply that the individuals' decisions might strongly affect or be affected by a limited number of other decision makers, an introduction to Game Theory will be presented. Finally, our concerns for investigating more realistic economic situations will lead us to make a brief incursion into markets characterised by asymmetric information, the presence of public goods or the existence of externalities.

This subject examines various political economy approaches to the analysis of economics, mainly associated with Marxian, post-Keynesian, evolutionary schools of thought as well as development economics and the perspectives of international political economy. These may be regarded as the main alternatives to neo-classical economic theory. As they do not represent a unified body of thought, the subject will survey the main contributions of each, focusing on both the positive aspects of theory and the negative aspects relating to the critique of neo-classical theory.

This subject provides students with an understanding of the economics of retirement and retirement income provision, with particular emphasis on the Australian superannuation industry. On completion of this subject, students should have a comprehensive understanding of superannuation in Australia, as well as an appreciation of the economic issues associated with alternative models of retirement income provision.

Students wishing to enrol in this subject are advised to contact the Subject Coordinator. This subject deals with: models of short-run fluctuations of regional aggregates and the economic relations between regions; models of long-run change in regional aggregates and the long-run economic relations between regions; equilibrium models of intra-urban location; optimal models of intra-urban allocation; and optimal allocation of capital to urban land.

Building on the introduction to the analysis of qualitative data presented in the core subject Research Design 1: Theories of Enquiry this subject, Advanced Analysis and Interpretation, will provide candidates with the techniques necessary to use, analyse and interpret qualitative data in business research. Presented as a series of seminar-workshops, candidates consider the theories that underpin the employed analytical methods, and then move to employ introduced qualitative software tools to analyse and interpret research data.

Innovation is essential to unlocking new frontiers of growth, development, and quality of life. Successful innovation requires a synergy of creative entrepreneurship and strategic management. In this subject, students will develop the ability to recognize both opportunities and the limitations of cognitive biases when pursuing potential prospects. Cognitive and neuropsychological processes underpin incremental and radical innovations and distinctive personality traits may also be associated with successful entrepreneurship. Further, students will also explore self-management, interpersonal management, and leadership skills as essential to succeeding in the innovation economy. Successful innovation has the potential to unleash forces of creative destruction that requires to assess the resultant social and economic transformations.

What does it mean to live and work sustainably? There are many ways to ensure that businesses, communities and individuals continue to thrive into the future. This subject explores the evolving concept of sustainability in practice. Students will learn how to view complex policy, business, consumer, and individual performance problems and opportunities through the various lenses of sustainability. Through the application of psychological knowledge on individual values, collective power and impacts on human behaviour, student will develop the skills to implement new practices while also reconciling different aspects of sustainability in their own work or personal context.

This subject presents a broad overview of economics and the way economic activity, institutions and regulations shape social and business outcomes, knowledge that is critical for any student in a business-related discipline. Students will reflect critically on the key economic processes, theories and ideas. We study the way economics defines growth and wellbeing and the economic theories of income determination and business cycles that shape macroeconomic policy. Students will form perspectives on globalisation, trade, colonisation and development and the causes of, and solutions to, inequalities between Indigenous and non-Indigenous Australians. In the microeconomic component of the subject, we study the way economics understands and models individuals and the consumer, production and firms, markets and market structures, the role of government intervention and regulation, environmental outcomes and policy to control processes of economic power.

In 2004, this subject replaced by 800035.2 Higher Degree Research Thesis FT - Property Economics.