Unit

School Of Economics And Finance

Introductory EconomicsWestern Sydney University Unit Code: 200076.1

Discipline: ECONOMICS

Student Contribution Band: 3

Level: 1

Credit Points: 10

Equivalent Units
D1023 - Economics for Technology Manageement (A), D1801 - Economics for Technology Management, EC102A - Principles of Economics

Incompatible Units
61321 - Microeconomics, 61331 - Macroeconomics, EC101A - Economics of Planning and the Environment, H1728 - Macroeconomics 1, H1732 - Microeconomics 1

About this Unit
This unit replaced by 200525 Principles of Economics in 2008. This unit introduces students from other disciplines to the fundamentals of economics. Topics include: demand as consumer choice in individual markets and in the economy as a whole; costs of production as basic to supply; national income measurement and determination; the role and functions of money and the financial system; inflation; employment; government and externalities; the effects of market structure on costs and profitability; the distinction between the long run and short run, particularly with regard to aggregate supply. Students who want a more comprehensive understanding of economics or who may want to take higher level economic or finance electives should take Macroeconomics and Microeconomics.