Overview
Introduces concepts central to understanding market economies, including allocation of scarce resources, consumer and business reactions to changing market conditions, and the application of economic principles to decision-making.
About this paper
| Paper title | Principles of Economics |
|---|---|
| Subject | Pathway |
| EFTS | 0.150 |
| Points | 18 points |
| Teaching period | Semester 1 (On campus) |
| Domestic Tuition Fees ( NZD ) | $802.35 |
| International Tuition Fees | Tuition Fees for international students are elsewhere on this website. |
- Restriction
- BSNS 113
- Limited to
- DipCom
- Contact
- Teaching staff
To Be Advised
- Textbooks
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- Graduate Attributes Emphasised
- Global perspective, Critical thinking, Information literacy.
View more information about Otago's graduate attributes. - Learning Outcomes
1. Apply the principles of economics to business and personal decision making
2. Explain how a market economy allocates scarce resources, how consumers and firms respond to changing market conditions, and the factors that affect market efficiency
3. Identify cases of market failure (e.g. income inequality), to evaluate the effects of such market failure and analyse alternative policy responses and their effect on businesses and individuals
4. Demonstrate an understanding of the relevance of economic analysis to environmental issues
5. Provide a basic introduction to the contemporary Māori economy and its development
6. Produce a clear and effective written and oral presentation