71120 Economic Reasoning

About the course

This course is an introduction to economic thought. Economic Reasoning presents models and theories whereby business, social and economic issues can be assessed from an economic perspective within the context of the New Zealand economy.

This course is available in the following programme(s):

OP5204 Diploma in Information Systems & Technology for Business
OP5205 Diploma in Information & Library Studies Level 5
OP5206 Diploma in Applied Management Level 5
OP5207 Diploma in Māori Business
OP5225 Diploma in Purchasing & Supply Management for Business Level 5
OP5271 Diploma in Communication Studies Level 5
OP6208 Diploma in Information & Library Studies Level 6
OP7001 Bachelor of Business Level 7
OP7010 Bachelor of Applied Science Level 7
OP7020 Bachelor of Arts Level 7
OP7208Graduate Diploma in Human Resource Management
NZIM Diploma in Management

What's in the course

  • Introduction to economic concepts and thought
  • The allocation of resource to maximise human welfare
  • The government, the market and economic performance
  • The price mechanism
  • Theory of the firm
  • Market failure and government intervention
  • The macroeconomic environment
  • Macroeconomic policy
  • International trade in relation to New Zealand.

What students learn

  • How to comprehend and evaluate the assumption of economic modelling
  • The determination of the equilibrium price in a market by supply and demand
  • To apply marginal analysis to determind price and output decisions
  • Why markets fail and how this may be minimised
  • The role of government in the economy
  • How to measure aggregate economic activity and understand the key components of the circular flow
  • The neo-keynesian approach to the aggregate demand/aggregate supply models
  • To analyse the key macroeconomic areas by the use of models
  • To evaluate the advantage of free trade and to understand why some governments restrict trade with the concomitant impact on the world economy.

Assessment

In-course work 50%
Examination     50%

Fees

New Zealand Student Fee $588.00

Additional Fee Information

What do I do now?

Request a copy of the brochure.
Download an enrolment form.
For further information free phone 0508 650 200 or email