Lecturer
Dr Temesgen Kifle
Course overview
- Study period
- Semester 2, 2025 (28/07/2025 - 22/11/2025)
- Study level
- Postgraduate Coursework
- Location
- St Lucia
- Attendance mode
- In Person
- Units
- 2
- Administrative campus
- St Lucia
- Coordinating unit
- Economics School
Introduces professional accounting & management students to both microeconomics & macroeconomics; highlights practical applicability of economics to analysis of contemporary problems; market trends & government policies.
There is an increasing reliance on micro and macroeconomic theories in government, business and personal decision making to improve resource allocation decisions. Equally, when there is evidence of a misallocation of resources, there is increased reliance on economic theories to explain how and why the problem has emerged. The aim of this course is to introduce students to relevant micro and macroeconomic theories and their applications in real world situations. The assessment is designed to encourage students to familiarise themselves with economic concepts and to test the application of these concepts to understand real world problems.
Course requirements
Assumed background
There is a mathematical requirement for entry into degree programs offered by the Faculty of Business, Economics and Law. The mathematical requirements of this course are modest. However, just as in most knowledge-intensive private and public sector jobs, basic arithmetic and an ability to understand and manipulate simple graphs and equations are required in order to make good progress.
No previous study in the field of economics, micro or macro, is required.
Incompatible
You can't enrol in this course if you've already completed the following:
([ECON1010 or 2400] + 1020) or 1011 or 7000 or 7003 or 7010 or 7011
Course contact
School enquiries
Student Enquiries, School of Economics
All enquiries regarding student and academic administration (i.e. non-course content information, e.g., class allocation, timetables, extension to assessment due date, etc.) should be directed to enquiries@economics.uq.edu.au.
Enquiries relating specifically to course content should be directed to econ7002@uq.edu.au.
Course staff
Course coordinator
Dr Temesgen Kifle
Tutor
Mr Minh Le
Miss Xiaoxue Dou
Mr Joshua Huisman
Timetable
The timetable for this course is available on the UQ Public Timetable.
Additional timetable information
Lecture commences in Teaching Week 1
Tutorials commence in Teaching Week 2:
Please see the Learning Activities section of this Course Profile for the timetabling implications of public holidays.
Important Dates:
· Public Holidays: Wed 13 August (Royal Queensland Show Holiday), Mon 6 October (King’s Birthday public holiday).
· Mid-Semester Break: 29 September – 3 October. Semester 2 classes recommence on Tue 7 October.
Students should refer to the timetable prior to the commencement of classes to ensure that they have the most up to date information, as from time to time late room changes may occur.
Aims and outcomes
The aim of this course is to provide students with a clear understanding of basic microeconomic and macroeconomicﾠtheories and of how these theories relate to real world economic situations. The first part of the course focusses on understanding key components of the market mechanism, theﾠcircumstances under which it operates to efficiently allocate scarce resources, and some circumstances that lead to market failure. The second part of the course introduces students to a range of macroeconomic phenomena and explanatory models. By the end of the course, students should be able to apply the covered theoretical tools in real world contexts to understand, from an economics perspective, the role of markets and of governments in improving their efficiency when necessary.
Learning outcomes
After successfully completing this course you should be able to:
LO1.
Understand how economists approach, model and analyse problems. That is, you should be able to "think like an economist".
LO2.
Analyse and explain the principles of consumer behaviour.
LO3.
Analyse and explain the principles of firm behaviour.
LO4.
Differentiate between and understand different types of market structures and sources of market failures.
LO5.
Analyse and explain a range of macroeconomic concepts and models.
LO6.
Apply economic principles to policy questions.
Assessment
Assessment summary
| Category | Assessment task | Weight | Due date |
|---|---|---|---|
| Participation/ Student contribution, Quiz, Reflection |
Author, Moderate and Answer Questions via RiPPLE
|
15% (3x5%) |
5/09/2025 1:00 pm 10/10/2025 1:00 pm 31/10/2025 1:00 pm |
| Essay/ Critique, Project, Reflection |
Markets in Action
|
35% |
31/10/2025 4:00 pm |
| Examination |
End-of-Semester Exam
|
50% |
End of Semester Exam Period 8/11/2025 - 22/11/2025 |
Assessment details
Author, Moderate and Answer Questions via RiPPLE
- Online
- Mode
- Written
- Category
- Participation/ Student contribution, Quiz, Reflection
- Weight
- 15% (3x5%)
- Due date
5/09/2025 1:00 pm
10/10/2025 1:00 pm
31/10/2025 1:00 pm
- Other conditions
- Time limited, Peer assessed, Peer assessment factor.
Task description
You are required to author resources, moderate resources, and answer questions authored by your peers and teaching staff.
Three rounds of RiPPLE will run during the semester, with assessable items due on Friday in Weeks 6, 10 and 13 (at 1:00pm).
Detailed information about RiPPLE will be provided on Learn.UQ (Blackboard) > Assessment > RiPPLE.
This task has been designed to be challenging, authentic and complex. Whilst students may use AI and/or MT technologies, successful completion of assessment in this course will require students to critically engage in specific contexts and tasks for which artificial intelligence will provide only limited support and guidance.
A failure to reference generative AI or MT use may constitute student misconduct under the Student Code of Conduct.
To pass this assessment, students will be required to demonstrate detailed comprehension of their written submission independent of AI and MT tools.
Submission guidelines
Ripple accessed through Blackboard
Deferral or extension
You cannot defer or apply for an extension for this assessment.
Extension is not applicable due to peer evaluation component.
Late submission
You will receive a mark of 0 if this assessment is submitted late.
A 100% penalty (zero mark) for the relevant assessment round will apply to late submissions. RiPPLE automatically assigns marks, in line with the marking criteria, based on the time you created a resource, moderated a resource or answered a question. If you do not meet the criteria, RiPPLE will award zero marks.
Markets in Action
- Online
- Mode
- Written
- Category
- Essay/ Critique, Project, Reflection
- Weight
- 35%
- Due date
31/10/2025 4:00 pm
Task description
Choose a real-world market and find a real-world company that operates in that market. Students must use the template* provided in the Course Blackboard and write a 1,300** word essay using the tools of economic analysis to describe and explain, and relevant diagrams to illustrate, how a current or upcoming domestic and/or international government policy could affect the company and its competitiveness.
(*) Note 1: essays that do not follow the template will be penalised.
(**) Note 2: 1,300 is the maximum number of words allowed, and word counts in excess of 1,300 will be penalised.
-----------------------------------------------------
In completing the essay, you need to provide the following sections (as per the template):
1) Introduction
1.1) Briefly describe the nature and characteristics of the chosen company and its operating environment.
1.2) Outline the market structure of the market you have chosen. Also, argue for the price elasticity of demand and the price elasticity of supply of such product.
*Note 1: If the company produces many types of product/ service, choose only one product/ service to analyse.
*Note 2: If the product/ service is sold in more than one country, you must specify a particular geographical area to identify the relevant competitors and to help establish the market structure.
2) Analysis of the government intervention
-Outline the reason(s) why the government wants/wanted to influence the market (e.g. to alter the market price and/or the market quantity sold or demanded).
-Explain the means by which it could achieve this. How would this impact market suppliers and consumers?
-Describe one real-life example of the current or upcoming government intervention in the market. Note that "current or upcoming" in this context means occurring and/or being reported on no earlier than 12 months before the assignment submission date. A reference for the reported government intervention must be provided. Do not make it up yourself.
-What do you think the intervention was meant to achieve?
-If applicable, how do the price elasticity of demand and the price elasticity of supply affect the magnitude of impact from this market intervention?
-Overall, who is likely to benefit and who is likely to be disadvantaged by the intervention? Is the company you chose likely to benefit or likely to be disadvantaged by the intervention?
3) Cross comparison
-Provide other government intervention, previously engaged in a similar market, that was meant to achieve the similar outcome(s) as in section 2. Compare the outcome(s) to section 2.
4) Critical Reflection
-Critical reflection of the analytical approach, emphasising its strengths and weaknesses for the real world.
5) Reference
----------------------------------------------------------
Please consult the Assessment section of the Blackboard course website for detailed information, including assignment and submission instructions, marking criteria, and recommendations about how to do well.
This task has been designed to be challenging, authentic and complex. Whilst students may use AI and/or MT technologies, successful completion of assessment in this course will require students to critically engage in specific contexts and tasks for which artificial intelligence will provide only limited support and guidance.
A failure to reference generative AI or MT use may constitute student misconduct under the Student Code of Conduct.
To pass this assessment, students will be required to demonstrate detailed comprehension of their written submission independent of AI and MT tools.
Submission guidelines
The essay must be submitted electronically via Blackboard/TurnitIn. The instructions for submission are on the course Blackboard site.
Deferral or extension
You may be able to apply for an extension.
The maximum extension allowed is 7 days. Extensions are given in multiples of 24 hours.
Late submission
A penalty of 10% of the maximum possible mark will be deducted per 24 hours from time submission is due for up to 7 days. After 7 days, you will receive a mark of 0.
End-of-Semester Exam
- Identity Verified
- In-person
- Mode
- Written
- Category
- Examination
- Weight
- 50%
- Due date
End of Semester Exam Period
8/11/2025 - 22/11/2025
- Other conditions
- Time limited.
Task description
- Students will sit the exam on campus (paper-based).
- Exam may cover all material presented in the lectures and tutorials.
- The final examination will have two parts. Part A will consist of multiple choice questions. Part B will consist of short answer/essay and/or problem solving questions.
- The final exam will be held during the examination period at a time and place set by the Examinations Section. The final examination timetable will be published on my.UQ under "Important Info" as soon as it becomes available
- You will be alerted to further information about the final exam via our course Blackboard site.
This assessment task is to be completed in-person. The use of generative Artificial Intelligence (AI) or Machine Translation (MT) tools will not be permitted. Any attempted use of AI or MT may constitute student misconduct under the Student Code of Conduct.
Exam details
| Planning time | 10 minutes |
|---|---|
| Duration | 120 minutes |
| Calculator options | (In person) Casio FX82 series only or UQ approved and labelled calculator |
| Open/closed book | Closed book examination - no written materials permitted |
| Exam platform | Paper based |
| Invigilation | Invigilated in person |
Submission guidelines
Deferral or extension
You may be able to defer this exam.
Course grading
Full criteria for each grade is available in the Assessment Procedure.
| Grade | Cut off Percent | Description |
|---|---|---|
| 1 (Low Fail) | 0% - 29% |
Absence of evidence of achievement of course learning outcomes. |
| 2 (Fail) | 30% - 46% |
Minimal evidence of achievement of course learning outcomes. |
| 3 (Marginal Fail) | 47% - 49% |
Demonstrated evidence of developing achievement of course learning outcomes |
| 4 (Pass) | 50% - 64% |
Demonstrated evidence of functional achievement of course learning outcomes. |
| 5 (Credit) | 65% - 74% |
Demonstrated evidence of proficient achievement of course learning outcomes. |
| 6 (Distinction) | 75% - 84% |
Demonstrated evidence of advanced achievement of course learning outcomes. |
| 7 (High Distinction) | 85% - 100% |
Demonstrated evidence of exceptional achievement of course learning outcomes. |
Additional course grading information
A student’s final overall end of semester percentage mark will be rounded to determine their final grade. For example, 64.5% rounds to 65%, while 64.4% rounds to 64%.
Supplementary assessment
Supplementary assessment is available for this course.
Additional assessment information
Using AI at UQ
Visit the AI Student Hub for essential information on understanding and using Artificial Intelligence in your studies responsibly.
Plagiarism
The School of Economics is committed to reducing the incidence of plagiarism. You are encouraged to read the UQ Student Integrity and Misconduct Policy available in the Policies and Procedures section of this course profile.
The Academic Integrity Module (AIM) outlines your obligations and responsibilities as a UQ student. It is compulsory for all new to UQ students to complete the AIM.
SUBMISSION OF ASSIGNMENTS
All assignments must be submitted by the due date and time stated in the course profile. For this course, students are required to submit the essayﾠelectronically via Turnitin on Blackboard.
DEFERRED EXAMINATIONS
If you are unable to attend a scheduled exam: an In-Class Quiz, Mid-Semester or Final Exam (e.g. due to illness or other unavoidable circumstances which can be evidenced – e.g. medical certificate), you may be eligible to sit a deferred examination at a later time.
Information on grounds for applying for deferred examinations can be viewed here:
https://my.uq.edu.au/information-and-services/manage-my-program/exams-and-assessment/deferring-examﾠ
How to apply for a deferred exam can be found on the web at:
https://my.uq.edu.au/node/189/3#3
Please read this information very carefully before submitting your request.ﾠ
Requests for deferred examinations and supporting documentation must be submitted online via mySI-net > myRequests tab
https://www.sinet.uq.edu.au/psp/ps/?cmd=loginﾠ
Requests for Deferral of End of Semester examinations apply to examinations held at the end of semester during the University’s examination period.
If you are unable to sit a deferred exam, you can apply to defer an already approved deferred exam. Information can be viewed here:ﾠhttps://my.uq.edu.au/information-and-services/manage-my-program/exams-and-assessment/deferring-exam
Application Rulings:
Application rulings will be notified to you by email to your University student email address. Should you not receive a response to your application for an end of semester deferred examination by the time the final results are released, please contact Examinations Section or your faculty, as appropriate.
Learning resources
You'll need the following resources to successfully complete the course. We've indicated below if you need a personal copy of the reading materials or your own item.
Library resources
Find the required and recommended resources for this course on the UQ Library website.
Additional learning resources information
Lecture notes and tutorial questions will be made available on Blackboard throughout the semester. Solutions to tutorial questions will be posted after the last tutorial class for the week.
Learning activities
The learning activities for this course are outlined below. Learn more about the learning outcomes that apply to this course.
Filter activity type by
Please select
| Learning period | Activity type | Topic |
|---|---|---|
Week 1 (28 Jul - 03 Aug) |
Lecture |
Topic 1. Introduction & Key Economic Concepts Reading HGLO (Ch. 1-2). |
Week 2 (04 Aug - 10 Aug) |
Tutorial |
Topic 1. Introduction & Key Economic Concepts Reading: HGLO (Ch. 1-2). |
Lecture |
Topic 2. Demand, Supply and Elasticity I Reading: HGLO (Ch. 3-4). Learning outcomes: L02 |
|
Week 3 (11 Aug - 17 Aug) |
Tutorial |
Topic 2. Demand, Supply and Elasticity I NOTE: Wed 13 August is Royal Queensland Show Holiday (EKKA). Affected students are advised to attend another tutorial session, for this week only. Reading: HGLO (Ch. 3-4). Learning outcomes: L02 |
Week 4 (18 Aug - 24 Aug) |
Lecture |
Topic 3. Elasticity II & Economic Efficiency Reading: HGLO (Ch. 4-5). |
Week 5 (25 Aug - 31 Aug) |
Tutorial |
Topic 3. Elasticity II & Economic Efficiency Reading: HGLO (Ch. 4-5). |
Lecture |
Topic 4. Firm Behaviour & Perfect Competition I Reading: HGLO (Ch. 6-7). Learning outcomes: L03, L04 |
|
Week 6 (01 Sep - 07 Sep) |
Tutorial |
Topic 4. Firm Behaviour & Perfect Competition I Reading: HGLO (Ch. 6-7). Learning outcomes: L03, L04 |
Lecture |
Topic 5. Perfect Competition II & Monopoly Reading: HGLO (Ch. 7-8). Learning outcomes: L03, L04, L06 |
|
Week 7 (08 Sep - 14 Sep) |
Tutorial |
Topic 5. Perfect Competition II & Monopoly Reading: HGLO (Ch. 7-8). Learning outcomes: L03, L04, L06 |
Lecture |
Topic 6. Government Intervention in Markets Reading: HGLO (Ch. 11). Learning outcomes: L04, L06 |
|
Week 8 (15 Sep - 21 Sep) |
Tutorial |
Topic 6. Government Intervention in Markets Reading: HGLO (Ch. 11). Learning outcomes: L04, L06 |
Lecture |
Topic 7. The Macroeconomic Perspective Reading: HGLO (Ch. 13). |
|
Week 9 (22 Sep - 28 Sep) |
Tutorial |
Topic 7. The Macroeconomic Perspective Reading: HGLO (Ch. 13). |
Lecture |
Topic 8. Unemployment and Inflation I Reading: HGLO (Ch. 14). |
|
Mid Sem break (29 Sep - 05 Oct) |
No student involvement (Breaks, information) |
Mid-Semester Break No lecture or tutorials this week. |
Week 10 (06 Oct - 12 Oct) |
Tutorial |
Topic 8. Unemployment and Inflation I Monday, October 6 is King's Birthday public holiday. Students with Monday tutorials are advised to attend any other tutorials scheduled for the week. Reading: HGLO (Ch. 14). |
Lecture |
Topic 9. Unemployment and Inflation II Reading: HGLO (Ch. 14). Learning outcomes: L05, L06 |
|
Week 11 (13 Oct - 19 Oct) |
Tutorial |
Topic 9. Unemployment and Inflation II Reading: HGLO (Ch. 14). Learning outcomes: L05, L06 |
Lecture |
Topic 10. AD-AS Model Reading: HGLO (Ch. 15). |
|
Week 12 (20 Oct - 26 Oct) |
Tutorial |
Topic 10. AD-AS Model Reading: HGLO (Ch. 15). |
Lecture |
Topic 11. Money and Monetary Policy Reading: HGLO (Ch. 16). Learning outcomes: L05, L06 |
|
Week 13 (27 Oct - 02 Nov) |
Tutorial |
Topic 11. Money and Monetary Policy Reading: HGLO (Ch. 16). Learning outcomes: L05, L06 |
Lecture |
Topic 12. Revision |
Policies and procedures
University policies and procedures apply to all aspects of student life. As a UQ student, you must comply with University-wide and program-specific requirements, including the:
- Student Code of Conduct Policy
- Student Integrity and Misconduct Policy and Procedure
- Assessment Procedure
- Examinations Procedure
- Reasonable Adjustments for Students Policy and Procedure
Learn more about UQ policies on my.UQ and the Policy and Procedure Library.