ECONOMICS Al 4 points
INTRODUCTION TO MACROECONOMICS
A subject of 2 one-hour lectures and 1 two-hour practical class a week conducted during the second half of the year.
SPECIAL REQUIREMENTS
Practical work is an integral part of the subject and attendance at practical classes is compulsory. A satisfactory standard of practical work must be attained for a pass in the subject.
No prerequisite.
SYLLABUS
An introductory subject in Macroeconomics incorporating two main aims:
• an understanding of basic macroeconomic theory and its applications to the Australian environment and institutions;
• the provision of a foundation for more advanced studies of macroeconomic theory in second year.
The subject is specifically concerned with the major determinants of the level of employment of productive resources in a mixed economy, and will include topics such as unemployment, inflation, banking and monetary policy, fiscal policy and incomes policy.
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BOOKS Prescribed:
Samuelson, P. A., Hancock, K. Economics: Australian 2nd edition McGraw-Hill
and Wallace, R. 1974
Reference:
Book lists will be distributed during the subject.
ASSESSMENT
A two-hour paper at the end of the subject comprising 80 per cent of the assessment.
Performance in practical classes and submissions associated with those classes comprising 20 per cent of the assessment.
ECONOMICS A2 5 points
INTRODUCTION TO MICROECONOMICS
A subject of 2 one-hour lectures and 1 two-hour practical class a week conducted during the second half of the year.
SPECIAL REQUIREMENTS
Practical work is an integral part of the subject and attendance at practical classes is compulsory. A satisfactory standard of practical work must be attained for a pass in the subject.
No prerequisite.
SYLLABUS
An introductory subject in microeconomics incorporating two main aims:
• an understanding of basic microeconomic principles and their application to the Australian economy;
• the provision of a foundation for advanced studies in microeconomic theory in second year.
The subject will examine the actions of individual consumers, groups of consumers, and firms in a predominantly market economy, with special attention given to the pricing, product and output decisions of firms and industries, their implications for public welfare for resources allocation, and for government policies aimed at controlling the economic environment within which such decisions are made. The impact of competitive forces, non-competitive forces, the Prices Justification Act, the Trade Practices Act, the Industries Assistance Commission Act, the Conciliation and Arbitration Commission, and consumer behaviour will be studies included within the subject.
BOOKS
Preliminary Reading:
Maher, J. E. What is Economics? John Wiley 1969 Prescribed:
Caves, R. American Industry: Structure, Conduct, Perfor- mance 3rd edition Prentice-Hall 1972
Turvey, R. Demand and Supply Allen and Unwin 1971 Reference:
Book lists will be distributed throughout the subject.
ASSESSMENT
A two-hour paper at the end of the subject comprising 80 per cent of the assessment.
Performance in practical classes and submissions associated with those classes comprising 20 per cent of the assessment.
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ECONOMICS B1 12 points
MACROECONOMICS
A subject of 2 one-hour lectures and 1 two- hour practical class a week throughout the year.
SPECIAL REQUIREMENTS
Practical work is an integral part of the subject and attendance at practical classes is compulsory. A satisfactory standard of practical work must be attained for a pass in the subject.
Prerequisite: Economics Al SYLLABUS
A subject in advanced macroeconomic theory and policy with the aim of the student being able to analyse, interpret and evaluate the economic policy of the Australian market capitalist system.
The structure of the subject comprises the following areas:
Section A. Statistical Records
Section B. The Objective of Full Employment Section C. The Objective of Price Stability Section D. Fluctuations in Economic Activity BOOKS
Prescribed:
Keiser, N. F. Macroeconomics 2nd edition Random House 1975 Reference:
Book lists will be distributed throughout the year.
ASSESSMENT
• A one-hour paper on Section A comprising 10 per cent of the assessment;
• one assignment on Section A comprising 5 per cent of the assessment;
• one two-hour paper on Section B comprising 30 per cent of the assessment;
• one essay on Section B comprising 15 per cent of the assessment;
• one two-hour paper on Sections C and D comprising 30 per cent of the assessment;
• prescribed class work comprising 10 per cent of the assessment.
ECONOMICS B2 12 points
MICROECONOMICS
A subject of 2 one- hour lectures and 1 two- hour practical class a week throughout the year.
SPECIAL REQUIREMENTS
Practical work is an integral part of the subject and attendance at practical class is compulsory. A satisfactory standard of practical work must be attained fora pass in the subject.
Prerequisite: Economics A2 SYLLABUS
A subject in macroeconomic theory, practice and policy, embracing methodology of economics; theories of consumer behaviour; consumer and household behaviour;
influences on consumer behaviour; attitudes and expectations; consumerism and government policy; the economics of the firm-organization and decision-making, theories of perfect competition, monopoly, monopolistic competition and oligopoly;
the structure of Australian industry; government policy in regard to market structure, conduct and performance.
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BOOKS Prescribed:
Mansfield, E.
Mansfield, E.
Microeconomic Problems: Concepts, Cases and Tests 2nd edition W. W. Norton and Coy 1975 Microeconomics: Theory and Applications 2nd
edition W. W. Norton and Coy 1975 Reference:
Book lists will be distributed throughout the year.
ASSESSMENT
• A two-hour paper in mid-year comprising 30 per cent of the assessment;
• a two-hour paper at the end of the year comprising 30 per cent of the assessment;
• one essay in the first half of the year comprising 15 per cent of the assessment;
• one essay in the second half of the year comprising 15 per cent of the assessment;
• prescribed class work comprising 10 per cent of the assessment.
ECONOMICS Cl 4 points
PUBLIC FINANCE
A subject of 2 one-hour seminars a week throughout the year. Classes are not held during periods of Practice Teaching.
Prerequisite: Economics.B1 SYLLABUS
The subject will examine:
• the economic and equity effects of government receipts, including receipts from taxation and sale of goods;
• the economic and welfare effects of government expenditure, including the impact upon the political-economic system;
• the economic and functional effects of intergovernment finance, including Federal financial assistance to the Australian States.
All studies will be centered upon the Australian economy in the 1970s.
BOOKS
Preliminary Reading:
Eckstein, O. Public Finance Prentice-Hall Reference:
Book lists will be distributed during the year.
ASSESSMENT
Assignments set during the year will comprise the assessment.
ECONOMICS C2 4 points
INTERNATIONAL ECONOMICS
A subject of 2 one-hour. seminars a week throughout the year. Classes are not held during periods of Practice Teaching. Seminar participation is an integral part of the subject and attendance is compulsory.
Prerequisite: Economics B1 or Economics B2.
SYLLABUS
A study of theories of free trade and protection; the Australian Balance of Payments;
exchange rates, tariffs and other weapons of balance of payments control; the conflict between internal and external balance; international capital movements; the international monetary system; current international issues.
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BOOKS
Preliminary Reading:
Perkins, J. O. N. Australia in the World Economy Sun Books Prescribed:
Soderstein, B. International Economics Macmillan Reference:
Book lists will be distributed throughout the year.
ASSESSMENT
Assignments set during the year will comprise the assessment.
ECONOMICS C3 4 points
INDUSTRIAL RELATIONS
A subject of 2 one-hour seminars a week throughout the year. Classes are not held during periods of Practice Teaching. Seminar participation is an integral part of the subject and attendance at classes is compulsory.
Prerequisite: Economics B1 or Economics 82.
SYLLABUS
The nature of an industrial relations system; industrial conflict—its nature and significance; trade unions and employer associations, their function, structure and legal status; settlement of industrial disputes—including collective bargaining, conciliation and arbitration; government intervention in industrial relations.
BOOKS Prescribed:
Hyman, R. Strikes Fontana Paperback 1972
Isaac, J. E. and Ford, G. W. Australian Labour Relations: Readings 2nd edition
(eds) Sun Books 1971
Martin R. M. Trade Unions in Australia Penguin 1975 Matthews, P. W. D. and Australian Trade Unions Sun Books 1968
Ford. G. W. (eds)
Walker, K. F. Australian Industrial Relations Systems Harvard University Press 1970
Reference:
Book lists will be distributed throughout the year.
ASSESSMENT
Assignments set during the year will comprise the assessment.
ECONOMICS C4 4 points
ECONOMIC GROWTH AND DEVELOPMENT
A subject of 2 one-hour seminars a week throughout the year. Classes are not held during periods of Practice Teaching. Seminar participation is an integral part of the subject and attendance at classes is compulsory.
Prerequisite: Economics B1.
SYLLABUS
• The subject will begin with an introductory section on the meaning and measurements of economic growth and development.
• Examination of models of economic growth will provide a theoretical framework for the analysis of the growing economy.
• Consideration of the desirability of economic growth as a policy objective and 'the costs of economic growth' will be made.
• Major emphasis in the subject will be given to the problems facing less developed countries in their attempts to formulate policies aimed at both short-run 'survival' action and the longer term objectives of development. The role of planning, the government and social institutions will be considered within this framework.
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BOOKS
Preliminary Reading:
Baldwin, R. E. Economic Development and Growth 2nd edition Wiley
Reference:
Book lists will be distributed during the year.
ASSESSMENT
Assignments set during the year will comprise the assessment.
ECONOMICS C5 4 points
COMPARATIVE ECONOMIC SYSTEMS
A subject of 2 one-hour seminars a week throughout the year. Classes are not held during periods of Practice Teaching. Seminar participation is an integral part of the subject and attendance at classes is compulsory.
Prerequisite: Economics B1 or Economics B2.
SYLLABUS
A comparative study of different economic systems in terms of their goals, methods of allocating resources, organization and institutions. Particular emphasis will be given to the following systems: competitive capitalism, competitive socialism, contemporary capitalism, market socialism and non-market socialism.
BOOKS
Preliminary Reading:
Grossman, G. Economic Systems 2nd edition Prentice-Hall 1974 Reference:
Book lists will be distributed throughout the year.
ASSESSMENT
Assignments set during the year will comprise the assessment.
ECONOMICS C6 4 points
HISTORY OF ECONOMIC THOUGHT This subject will not be offered in 1976.
ECONOMICS C7 1 point
CURRENT ISSUE
A subject of 2 one-hour seminars a week for four weeks of third term. Classes are not held during periods of Practice Teaching. Seminar participation is an integral part of the subject and attendance at classes is compulsory.
Prerequisite: Economics B1 or Economics B2.
SYLLABUS
An analysis of a current economic prpblem.
BOOKS
A detailed reading list will be issued at the commencement of the subject.
ASSESSMENT
One essay to be submitted after the completion of the subject.
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