Learning Guide

ECO101 - PRINCIPLES OF ECONOMICS

Trimester 1 - 2024
 ECO101 – PRINCIPLES OF ECONOMICS
TRIMESTER 1 - 2024

Course Detail

Course code ECO101

Course name PRINCIPLES OF ECONOMICS

Unit overview
This unit is an introduction to microeconomic and macroeconomic analysis and its applications. In the
microeconomics part, we look at very basic individual and firm decisions such as what to buy; how much to buy;
and what to produce; and how much to produce. From this analysis, a simple model of individual and firm
interaction (supply and demand) will result. Then we use this model to see how government policies affect the
interactions and outcomes of the supply and demand model. This part of the course will also focus on the optimal
behaviour of the firm. We look at how the firm should act depending on whether there is one firm, a couple of
firms, or many firms in the same market and how the actions of individual firms relate back to the model of
supply and demand.
The second part of the unit covers topics in macroeconomics - the study of the economy. It is designed to provide
students with a comprehensive framework for analysing macroeconomic events and issues. The topics include
the determination of output, unemployment, inflation, interest rates, exchange rates, business cycles, and long-
run economic growth. The questions of concern will include: Why are some countries rich and others hopelessly
poor? What are the sources of economic booms and recessions? Why is there unemployment? What are the
sources of inflation? And how do government policies affect output, inflation and unemployment?

Pre-requisites
None.

Contacts
Below is a list of contacts for this unit. Please liaise directly with your unit instructor regarding appropriate
consultation times. It is usually best to contact the staff via email.
Dr. Hoai DO
Unit Coordinator
Email: [email protected]

Mr. Kinwah LO
Email: [email protected]
Dr. Huy PHAM
Teaching team*
Email: [email protected]
Ms. My DUONG
Email: [email protected]
Academic Admin Contact the Academic Admin Team – Please click HERE.
Ms. Tuyen NGUYEN
Student Advisor
Phone: 028 3930 5292 Email: [email protected]
Note:
* Please direct your email to an appropriate lecturer. In addition, please refer to the Email etiquette section
for guidance.

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Course Learning Outcomes

Learning outcomes for the unit are outlined below. Upon completion of this course, students will be able
to:
LO1 Explain and apply key economics concepts appropriately.
LO2 Construct sound economic arguments in terms of these concepts.
LO3 Apply simple economic models to the analysis of relevant economic issues.
LO4 Apply economic reasoning to make deductions about market behavior.
LO5 Explain and evaluate the likely effects of government economic policy.

Assessment
Assessment structure
This course contains four (4) assessments structured as follows:
ASSESSMENT LEARNING WEIGHT
ASSESSMENT ITEM AND DUE DATE TYPE THRESHOLD
NUMBER OUTCOMES (/100)
Weekly Quizzes (Individual)
1. Individual LO1-LO5 30% No
Due: In each class
Activities and Engagement Individual
2. LO1-LO5 10% No
Due: In each class and Group
Economics Project (Group)
3. Due: Week 12 (or as specified Group LO1-LO5 20% No
by the instructor)
Final Exam
4. Individual LO1-LO5 40% No
Due: TBA
Final marks and grades are subject to confirmation by the School Assessment Committees which may scale,
modify, or otherwise amend the marks and grades for the unit, as may be required by the University
policies.
Note: To successfully complete this unit, students must:
- Achieve a minimum of 50 marks,
- Complete all assessment items; and
- Attend 80 percent of class time. See attendance requirements in the section of class policies and rules
below.
- Achieve a final exam mark greater than 0.

Assessment Details
Assessment 1: Weekly Quizzes (Individual) (30%)
Due: Each week before the specified deadline.

Details
Quizzes are to check the level of knowledge and understanding of students about the theoretical and applied
content of the subject and the ability to express them. Questions will cover materials of the previous lessons and
readings. There will be ten quizzes (length: 15-20 minutes; style and format: True/False, Multiple Choice, and/or
Short Answer) each worth 3 marks.
Questions in problem sets will vary in difficulty to assess different levels of performance from a basic
understanding of the material presented to a mastery of the application of the concepts to new and different

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problems. This assessment task is consistent with the aim of developing deep learning – the ability to apply what
you have learned to solve an economic problem. It also tests analytical reasoning skills.
Assessment 2: Activities and Engagement (Individual and Group) (10%)
Due: During the class and/or each week before the specified deadline.
Details
Students’ engagement in a lesson will be assessed through the successful completion of various activities. These
facilitate the development critical thinking skills. For example, this can include activities such as online surveys,
worksheets, level of participation, and/or other assignments which are assigned at various times during the
lesson.
Questions in worksheets will vary in difficulty to assess different levels of performance from a basic
understanding of the material presented to a mastery of the application of the concepts to new and different
problems. This assessment task is consistent with the aim of developing deep learning – the ability to apply what
you have learned to solve an economic problem. It also tests analytical reasoning skills. Additionally, students
are expected to learn key terms and definitions and demonstrate their proficiency in recalling, explaining and
applying them.
Students must successfully complete all these activities, either individually or in a group as specified by the
lecturer.
Marking criteria and standards
Students are evaluated on your comprehension of assigned materials, and teamwork.

Assessment 3: Economics Project (Group) (20%)

Due: Before the end of the lesson on the deadline date.
Details:
The project requires researching about an economic issue and applying economic knowledge, theory, and
analysis. As a group of 3-5 students, you will present your research, analysis, and recommendations.

Assessment 4: Final Exam (Individual) (40%)

Due: TBA
Length: 2 hours
Details
This is a 120-minute examination and consists of multiple-choice and/or short answer/essay questions. The
final exam will cover all the chapters in Microeconomics and Macroeconomics in the syllabus. You are assessed
on concepts and application of macroeconomic theory to solve economic problems. Your analytical reasoning
skills and ability to see the difficulties in a policy environment are examined.
Note:
- The final examination is held on-campus (unless stated otherwise). Check the examination timetable for
the location (campus, room number) and time (date, hour) of the exam.
- The final examination is a closed-book exam. No course materials are to be brought into the examination
venue.

Marking criteria and standards

For multiple-choice questions, the criterion is that students must be able to select the best available answer from
the options given. Each question in the final exam has the same value – namely, one point. For short
answer/essay questions, students have to give out the right solutions.

General submission requirements

Assignment cover sheet
All assignments are to be submitted with an Assignment Cover Sheet. Group assignments are to be submitted
with a Group Assignment Cover Sheet. Non-contributing team members can sometimes be an issue with group-
work structured assessment. Individual student group work scores may be adjusted as a result of peer
dissatisfaction with a particular student’s contribution to group work assignments, as reflected in additional
submissions of the evaluation form.

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Note: Assignment cover sheets and the evaluation form can be located on E-learning system
(https://lms.westernsydney.edu.vn/). Students are to keep a copy of all assignments submitted for marking.

Submission style and method

A professional standard of presentation is expected for all assignments. Assignments should be typed, one and a
half spaced, on A4 paper. Use a simple clear format, suitable for a report to senior management in a commercial
organisation.

All assignments are required to be submitted electronically via E-learning system

(https://lms.westernsydney.edu.vn/) and lecturer’s email by 11:55 PM on the due date and if required, in hard
copies to the unit coordinator by the due date. The title of assignment submitted via E-learning system shall
be as follows: Student name_Unitname_Name of Assignment.

Late assignment and make-up policy

Coursework and assignments are expected to be completed within the stated time frame. No late assignments
will be accepted unless prior authorisation granted by the coordinator. In case such an authorisation is not
granted, grade deduction will be applied. The coordinator may decide not to accept assignments that are not
submitted within 3 days after the assignment due date. However, if there are extenuating or unforeseen
circumstances, an exception may be granted at the discretion of the unit coordinator and based on a Special
Consideration Application for assessment task extension.

All quizzes, group assignments, and final exam must be taken on the assigned dates. If there are extenuating or
unforeseen circumstances, the unit coordinator must be contacted prior to the quiz or exam dates to authorize
a make-up if required. No make-up quiz or exam will be accepted unless a prior approval granted by the unit
coordinator based on a Special Consideration Application for a supplementary examination.

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Teaching and Learning Activities

Course Schedule
SESSION LECTURE TUTORIALS READINGS
Introduction Course overview. Chapter 1: Ten Principles of
Discussion on assessment, Economics
expectation, and deadlines. Chapter 2: Thinking Like an
1
Economist
Chapter 3: Interdependence and
the Gains from Trade
How Markets Work Forming groups Chapter 4: The Market Forces of
2 Quiz 1. Supply and Demand
▪
How Markets Work Exercises from Chapters 5 & 6. Chapter 5: Elasticity and Its
(cont.) Quiz 2. Application.
3
▪ Chapter 6: Supply, Demand, and
Government Policies
Firm Behaviour and the ▪ Exercises from Chapters 13. Chapter 13: The Costs of
4 Organization of Industry ▪ Quiz 3. Production

Firm Behaviour and the ▪ Exercises from Chapters 14 & Chapter 14: Firms in Competitive
Organization of Industry 15 Markets
5
(cont.) ▪ Quiz 4. ▪ Chapter 15: Monopoly

Topics for Further Study ▪ Exercises from Chapters 22. ▪ Chapter 22-3: Behavioural
6 ▪ Quiz 5. Economics

The Real Economy in the ▪ Exercises from Chapters 23, 24 Chapter 23: Measuring a Nation’s
Long run. & 25. Income
7 Quiz 6. Chapter 24: Measuring the Cost of
▪ Living
Chapter 25: Production and Growth
The Real Economy in the ▪ Exercises from Chapters 26 & Chapter 26: Savings, Investment,
8 Long run (cont.). 28. and the Financial System
▪ Quiz 7. ▪ Chapter 28: Unemployment
Money and Prices in the ▪ Exercises from Chapters 29 & Chapter 29: The Monetary System
9 Long Run 30. ▪ Chapter 30: Money Growth and
▪ Quiz 8. Inflation
Short-Run Economic ▪ Exercises from Chapters 33. ▪ Chapter 33: Aggregate Demand and
10 Fluctuations Quiz 9. Aggregate Supply
▪
Short-Run Economic ▪ Exercises from Chapters 34. Chapter 34: The Influence of
11 Fluctuations. Quiz 10. Monetary and Fiscal Policies on
Aggregate Demand
12 Group presentation ▪ ▪
● Note: Group list and schedule will be separately announced at the beginning of the class based on the
size of the class.

Tutorials
Tutorials following the lecture in each session provide students the opportunity to apply and share knowledge
by doing a variety of in-class activities individually or in groups such as exercises, discussion, and presentation.
These activities focus on demonstrating your skills and help you build your ability to achieve the learning
outcomes for this unit. It is required to set tutorial appointments with lecturer in a prior notice via email.
Tutorial questions/exercises will be regularly set. You will be expected to have completed specific reading and
exercises from the textbook and other required materials prior to attending each lecture and tutorial class. If
you have not prepared adequately, you will not get the full benefit from this learning opportunity.

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Learning resources
List of readings
Prescribed Mankiw, N. G. Principles of Economics (9th ed.). South - Western Cengage Learning.
Textbook
Recommended Greenlaw, Steven A, David Shapiro et al. (2020). Principles of Economics 2e,
readings Openstax.

Online resources
Smart Library
E-library https://smartlib.ueh.edu.vn/
Sign in with student email and password.
E-learning https://lms.westernsydney.edu.vn/

Referencing requirements
Student assignments are to contain original content created by the students. Assignments will be rejected if they
include plagiarised content or contain excessive amounts of quoted/cited material and minimal original content.
Students will receive a grade of ZERO (0%) for any assignments rejected for this reason. Written assignments
WILL BE RANDOMLY checked by the lecturer with Turnitin.com, an online plagiarism-checking tool.

Furthermore, your reference to support your statements must be from a reliable source, such as textbooks,
additional reading materials, and reference books. However, many websites are not reliable sources. Examples
are Wikipedia.org, about.com, and ask.com. If you are not sure if a reference is acceptable or not, please contact
the lecturer.

The Publication Manual of the American Psychological Association (APA) 7th ed. will serve as the primary
reference materials for all students. Therefore, all papers must be submitted in APA format. The mechanics of
student papers and work will be evaluated, as well as the content. It is imperative that guidelines be reviewed
before an assignment is begun. It is also important that the required submission format be followed in compiling
the final paper or assignment.

Course Evaluation and Quality Assurance

Feedback is regularly sought from students and continual improvements are made based on this feedback. At
the end of this course, students will be asked to complete some surveys, which provide a source of student
evaluative feedback on teaching and on course quality. Your input into this quality enhancement process is
extremely valuable in assisting us to meet the needs of our students and provide an effective and enriching
learning experience. The results of all surveys are carefully considered and do lead to action towards enhancing
educational quality.

Class Policies
Teaching times and location
Please note that teaching times and locations are subject to change. Students are strongly advised to refer to the
ISB website (https://myisb.isb.edu.vn/) for the most up-to-date teaching times and locations.

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Attendance requirement
UEH-ISB policy requires to check class attendance for each class. Class attendance is compulsory, and students
should provide reasons for the failure to attend the class on a particular lecture/workshop session. Students are
required to attend a minimum of 80% of all classes to secure class participation marks. Please let your lecturer
and/or UEH-ISB know if you are unable to attend any session.

Arriving to class late by 15 minutes at the beginning, arriving late by 5 minutes after the break, or leaving
prior to the scheduled end time without the permission of the lecturer will equate to an absence. Grade
reductions for the unit will be assessed when final grades are assigned if the above absence rule is violated during
the unit.

Electronic device use

Cell phones will be turned off or switched to vibrate mode before class starts. No phone calls or text messaging
are allowed inside classroom during class time. Portable listening and/or music devices may not be operated in
the classroom. Headphones and/or ear buds of any type may not be worn while in the classroom whether
operating or not. Laptop and other electronic devices are not permitted unless specifically authorised by the
lecturer exclusively for note taking and doing class work. If you are in violation of these policies, you will be
excused from class and an absence will be assessed.

Email etiquette
Your lecturer receives many emails each day. In order to enable them to respond to your emails appropriately
and in a timely fashion, students are asked to follow basic requirements of professional communication. Firstly,
all emails should have a concise and descriptive title, including the class and name of the unit you are enquiring
about as your teacher may be teaching more than one unit/class. Students need to be clear about the intention
of their emails, use appropriate tone and language, proof-read what is written in the email before sending it.
Students should also allow 3-4 working days for a response before following up. If the matter is legitimately
urgent, you may indicate this in the email subject header but be sure that the email does require an immediate
response before using this strategy. If your email request is complex and requires a lengthy response it may be
probably best to make an appointment with your teacher to meet in person.

Student behaviour guidelines

Everyone must behave professionally. Students are expected to always demonstrate respect for teacher and
fellow students. Behaviour that is disruptive to a positive learning environment reported to the teacher will
result in a warning on the first instance; the second instance might result in a failing grade along with expulsion
from the course or program.

Students are to be punctual at every class session and group meeting. Homework, readings, and other required
assignments must be well prepared and completed as scheduled. Students must also actively participate in
classroom activities and discussions.

Any student caught (1) cheating on an exam, (2) collaborating with others on work to be presented, if contrary
to the stated rules of the course, (3) submitting, if contrary to the rules of the course, work previously submitted
in another course, (4) knowingly and intentionally assisting another student in any of the above actions,
including assistance in an arrangement whereby work, classroom performance, examination, or other activity is
submitted or performed by a person other than the student under whose name the work is submitted or
performed, or (5) plagiarising, may fail the class and be subject to further disciplinary action. First violation will
result in a grade ZERO (0%) for that assignment. Second violation will result in a failing course grade.

Disability support services

Students with disabilities are advised that accommodations and services are available at UEH-ISB. It is the
student's responsibility to contact UEH-ISB office and submit appropriate documentation prior to receiving such
services.

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Additional information
This Learning Guide may be revised at the discretion of the Unit Coordinator with approval from Program
Academic Director and School Academic Committee where appropriate.

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