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COMM 601 (Online)

Principles of Managerial Economics

S1, 2021


Course Aims and Learning Outcomes

Aims

This course aims to provide students with:

1. An overview of the principles of economic thinking and decision-making and their application to complex business decisions; and,

2. A critical understanding of economic theories and models and problem-solving skills.


Learning outcomes

Aftersuccessfully completing this course,students will be able to:

LO1. Explain the key theories and principles that underpin the discipline of economics.

LO2. Explain the role that economics plays in both business and society.

LO3. Explain the important contribution that economics makes in the creation of global value chains.

LO4. Apply economic principles to generate solutions to complex business problems.

LO5. Apply critical and reasoned thinking to analyse real world business decisions.

LO6. Have a heightened awareness of the social and ethical impacts of economic thinking.


Course Content

The following table provides an indication of the timing of the content for this course.

Week – commencing
Modules
26 April - 2 May 2021
  Module 1 - Introduction-Economic Thinking
3 - 9 May 2021
  Module 2 - GDP & Economic Growth
10 - 16 May 2021
  Module 3 - Employment issues
17 - 23 May 2021
  Module 4 - Financial & Forex Markets
24- 30 May 2021
  Module 5 - International Trade
31 May -6 June 2021
  Module 6 - Consumers & Producers


Learning and Teaching Arrangements

Learning and Teaching Approach

This course is taught through an online learning environment. Students will have opportunities to ask questions of the tutor and practise skills and activities individually as well as in groups through the use of online and interactive technologies. Further learning support is available through Learning, Teaching and Library and can be customised for each enrolled student.


Online Learning Activities

Formally registered students in this course will be able to access the course LEARN site via http://learn.lincoln.ac.nz

Self-study material, review material, other relevant course material, and assessment activities will be made available on the course webpage. The course webpage will also be used as a means of communication with the class and students are advised to check the site and their “@lincolnuni.ac.nz” email regularly.


Resources: Online Free Textbook

Greenlaw, S. & Sharpiro, D. (2011). Principles of Economics 2e. OpenStax: Rice University, Houston, Texas. Click here to access this online textbook.

Students who have no economic background are also encouraged to read the following two books (available at LU library):

Microeconomics: https://www.pearson.com.au/products/detail?isbn=9781442550988

Macroeconomics: https://www.pearson.com.au/9781486003624


Assessment

Formal assessment items

Assessment
Weighting
Due dates
Learning outcomes covered
Modules covered
Quiz 1/Module 1
(weekly)
5%
Mon, 3 May (before 9 pm)
LO1; LO2; LO3
Module 1
Quiz 2/Module 2
(weekly)
5%
Mon, 10 May (before 9 pm)
LO1; LO2; LO3
Module 2
Quiz 3/Module 3
(weekly)
5%
Mon, 17 May (before 9 pm)
LO1; LO2; LO3
Module 3
Quiz 4/Module 4
(weekly)
5%
Mon, 24 May (before 9 pm)
LO1; LO2; LO3
Module 4
Quiz 5/Module 5
(weekly)
5%
Mon, 31 May. (before 9 pm
LO1; LO2; LO3
Module 5
Quiz 6/Module 6
(weekly)
5%
Mon, 7 June (before 9 pm)
LO1; LO2; LO3
Module 6
Assignment 1
(Individual)
10%
Mon, 17 May
(before 11 pm)
LO4; LO5
Modules 1-3
Assignment 2
(Team)
10%
Sun, 6 June
(before 11 pm)
LO4; LO5; LO6
Modules 4-6
Test 1 (Time-restricted
test)
25%
From 9 am on 14 May (Fr.)
to 5 pm on 17 May (Mon.)
LO4; LO5
Modules 1-3
Test 2 (Time-restricted
test)
25%
From 9 am on 4 June (Fr.)
to 5 pm on 6 June (Sun.)
LO4; LO5
Modules 1-6
  Note:
  Please check your Lincoln University emails at least once a week for some important announcements about this course.


Important posting dates

  Assessment
Dates of posting requirements
Dates of posting the results
  Assignment 1
12 pm on 5 May 2021
12 pm on 21 May 2021
  Assignment 2
12 pm on 19 May 2021
Not available
  Test 1
9 am on 14 May 2021
12 pm on 21 May 2021
  Test 2
9 am on 4 June 2021
Not available
  Note: The requirements of Assignments and Tests will be sent to your Lincoln University emails.


Assessment Summaries

Quizzes

Quizzes

The online quizzes will cover the modules covered in weeks 1 to 6 of the course. The quiz will open after discussion of the module and will close on each Monday of the following week. Each quiz contributes to 5% of your final marks. One attempt is permitted. This means that once you submit your answers, you are not able to edit them anymore.

Assignments

The two assignments will cover topics from the online module materials. It will be designed to test knowledge, interpretation and application of concepts from all of the material up to the time of the assignment due date. Assignment 1 is an individual task. Assignment 2 is a team task. The allowable member size of each team and the way to build a team will be announced by emails.

Tests

Time-restricted online tests, as outlined in the assessment table above, will assess your understanding of online materials, including assigned readings and supplementary material (unless otherwise stated by the Lecturer/Examiner). It will be important to demonstrate critical thinking and a broad understanding of concepts, course content, and their applicability when completing the tests.


Penalties

Students who do not submit a reasonable attempt of the internal assessment itemsmay be awarded a grade ofNC (NotComplete): Assignment andTest. To be awarded a passing grade in the course students must attain 50% or more in the course overall.


Late Submission of Assessment

Unless alternative arrangements have been made with the examiner, items of assessment that are submitted after the due date and time will be awarded a mark of zero.


Academic Dishonesty

The examiner will apply the discipline regulations to any incidents of academic dishonesty, e.g. cheating or plagiarism. Your attention is drawn to the Universal Course Regulations.

All students have access to the lecturer through email (Dr. Wanglin Ma: [email protected]), or during Zoom sessions. Student feedback is always welcomed at any time during the course. Students are advised to seek help early if they are having difficulties with this course by contacting the lecturer in charge in the first instance.


Feedback Opportunities

Feedback is welcomed and appreciated throughout the semester. Contact information for staff is provided at the top of this course outline and on the course site. Students may give feedback in any format you feel comfortable with (e.g. via email, through a student rep, via a phone call). Constructive feedback is welcomed and appreciated throughout the semester to allow the Examiner to improve the course and the learning environment. There will be an opportunity to formally evaluate the course at the end of the semester.


Student Workload

The total student workload of 100 hours in this course represents the minimum amount of time that an average or B grade student might be expected to spend in tuition and applied learning to receive a passing grade. The total student workload for a course is not spread evenly from week to week and students are expected to proactively manage their workload through the semester. Achievement in a course is based on how well a student performs, not on the time committed to studying the course. No matter how many hours a student puts into this course, he/she is not guaranteed a pass.

The following time-use guidelines are provided as an example of how the 100 hours may be allocated in this course.

  Online Learning Hours
Total hours (over semester)
  Online resources, online activities
40
  Self-directed Hours

  Self-directed learning, e.g. study, projects, assignments, preparation for tests
60
  Total Student Workload
100


Student Help and Support

Learning, Teaching and Library

The Learning, Teaching and Library team offers free programs and resources that can help you to succeed in your studies. The Learning Advisors provide workshops, individual appointments (including online appointments) and resources for students who would like to further develop their academic writing, study, and mathematics/statistics skills. https://ltl.lincoln.ac.nz/


Advice and Support

A range of advice and support services are available to students. These include, but are not restricted to Inclusive Education (support for illness, injury and disability), International Student Support, Māori Student Support and Students’ Association, Student Health, Counselling, Pastoral Support. For details, please visit: http://www.lincoln.ac.nz/student-life/student-support/


Student Reps

A Student Rep’s role is to facilitate communication between the students and the University. They can help with matters relating to the course (assessment, lectures, etc.) and can also assist with the appeals procedure. Your student rep should make her/himself known at the start of each semester.


LUSA - Student Advice and Support

The student advice and support that LUSA offers is separate from the University and is completely confidential. The team can provide advice on a range of issues and can assist in representation in any formal appeals process. http://www.lusa.org.nz/sas


Appeals Procedure

The appeals framework is designed to enable students grievances to be addressed and resolved as close to the level at which they arose. Students are advised to contact LUSA or their student rep in the first instance.


Faculty Student Liaison

The role of the Student Liaison is to provide additional support to students and guide them to appropriate University support. If you believe you would benefit from additional support or just need someone to talk to please contact Nicos Tescos – he is here to listen to you and help. Nicos Tescos can be found in Orchard 001C or contacted by email: [email protected].