ECO101 Business Economics
Unit Code
ECO101
Level
Undergraduate
Campus
Brisbane | Sydney
Prerequisites
None
Credit Points
10
Overview
Business Economics (ECO101) will provide you with a comprehensive understanding of the role of economics in business. You will explore critical issues of supply and demand, consumer and firm behaviour, price determination, and the operations of markets, inflation, exchange rates, interest rates, and the impact of trade on the well-being and stability of the economy. You will examine and respond to a selection of micro-economic and macro-economic issues prevalent in contemporary business contexts.
Associated Degrees
Bachelor of Business (Information Systems)
Bachelor of Business (Marketing)
Duration | AQF Level
One Semester | Level 7
Core or elective Subject
☒ core subject
☐ elective subject
Study Modes
√ Face to face on site
√ Full-time
√ Part-time
Subject Learning Summary
The subject introduces core microeconomic and macroeconomic principles relevant to business decision-making. It examines demand, supply, elasticity, taxation, production costs and market structures, including perfect and imperfect competition. It also covers GDP, business cycles, inflation, unemployment, aggregate demand and supply, the monetary and financial system, and the role of monetary and fiscal policies in economic performance.
Learning Outcomes
- Apply appropriate economic theories and tools to business situations
- Enhance business decisions by applying knowledge of economic concepts
- Describe and analyse government economic measures affecting markets and the general economy
- Explain the relationship between micro/macro-economic variables external to business and their impacts
Assessment
AIIHE uses a variety of assessment tools to guide and assess each student’s achievement of their learning outcomes. In this subject there will be in–class activities intended to support you to engage in and reflect on your learning journey and understanding of the subject. You will also undertake assessment tasks related to your skills development, your effective engagement in group work and delivery of collaborative outcomes, including a written report and an oral presentation.
Summary of Assessment
- Students must attempt all assessment tasks, and at least a mark of 50% in total, to pass this subject.
- Assessment in this subject is consistent with and informed by the AIIHE Assessment Policy and Procedure.
| Assessment Task | Due Date | Weighting |
|---|---|---|
| Assessment 1: Student Class Activities (SCAs) |  Week 3-12 | 20% |
| Assessment 2: Group Case Study - Microeconomics | Week 5 | 25% |
| Assessment 3: Group Case Study - Macroeconomics | Week 11 | 25% |
| Assessment 4: Final Exam | Week 13 | 30% |
Learning Resources
AIIHE will update the topic coverage of the subject and the available relevant learning resources at the time of subject delivery. In the interim, AIIHE provides the following indicative list of relevant reference material. AIIHE also subscribes to eLearning Resources through the Canvas portal, and where relevant material is available, AIIHE will seek to source reference material from this system for staff and student access.
Prescribed text
- Gans J., King S., Stonecash R., Byford M., Libich J., Mankiw N.G., (2024), Principles of Economics, 9th edition, Cengage Learning.
Prescribed text
- Hubbard, G., O’Brien, A. and Garnett, A. (2025) Essentials of Economics. 6th edn. Pearson Australia.
- Bougrine, H., Rochon, L.-P. and Seccareccia, M. (eds.) (2025) Intermediate Macroeconomics: Theory, Policy and Competing Perspectives. Cheltenham: Edward Elgar Publishing.
Recommended Reading
- Layton, Robinson, Tang, Dharmaratna, Tucker (2021) Economics for today, 7th edition, Cengage Learning.
- Varian, H.R., Melitz, M. and Wells, V. (2024) Intermediate Microeconomics: A Modern Approach. 10th edn. New York: W.W. Norton & Company.