THE BLUEPRINT UQ BUSINESS MANAGEMENT SUBJECT GUIDE University of Queensland Business Association

Transcription

1 THE BLUEPRINT UQ BUSINESS MANAGEMENT SUBJECT GUIDE

2 The Blueprint published by: The BEL Faculty Collaborative Learning Centre Level 1, Colin Clark Building (39) St Lucia, QLD, 4072 Any feedback or questions? 2

3 Disclaimer: The (UQBA) has produced the 2015 version of The Blueprint (the Guide) for our members and the students of the University of Queensland. Despite every effort being undertaken to ensure the accuracy of its content, reliance on the information contained in the Guide is at the user s own risk. Information for The Blueprint was primarily sourced from student reviews and official course profiles. The student reviews used in this guide have been sourced with permission from student survey results. The information collected has been modified in some instances by the executive members of UQBA to improve readibility. Unconstructive criticism has been removed by the executive members of UQBA whilst maintaining the general opinion of the student reviewer for each subject. Student reviews are based on past course offerings and may not take into consideration changes in course offerings. Official course profiles and teaching staff should be the primary source of information in all instances. The views and opinions contained within The Blueprint do not represent the views of the authors of the guide, UQBA, The University of Queeensland, The University of Queensland Faculty of Business, Economics & Law, nor the sponsors and partners of UQBA. Any content from this guide may not be reproduced without the consent of UQBA.

4 Table of Contents About UQBA...4 UQBA Events...5 Foreword...6 Acknowledgements...7 Group 2 Electives Advertising ADVT2506 ADVT2509 ADVT2510 ADVT2511 ADVT3505 ADVT3506 ADVT3507 ADVT3508 Business Economics Online Advertising...8 Foundations of Advertising...9 Advertising Media...11 Advertising & Consumer Culture...13 Advertising Strategy...15 Advertising Research...16 Creative Advertising and Production...18 Contemporary Issues in Advertising...19 ECON2060 Behavioural and Evolutionary Economics...26 ECON2070 Introduction to Strategic Thinking...28 ECON2200 Management of Financial Institutions...30 ECON2410 Economics of Business Strategy ECON2420 The Macroeconomy & Business Conditions...35 ECON2500 China: Emergence, Implications & Challenges...37 ECON2540 Economics of Innovation and Entrepreneurship...39 ECON2800 The Economics of Labour Markets...41 ECON2810 Industrial & Labour Relations...43 ECON3210 Financial Markets & Institutions...44 ECON3220 Benefit-Cost Analysis for Business...46 ECON3430 Managerial Economics...48 ECON3440 Competition Policy and Regulation...50 Sustainability TIMS3302 TIMS3309 ENVM2100 ENVM2200 ENVM2522 ENVM2524 ENVM3524 ENVM3525 ENVM3526 Entrepreneurship Fundamentals of Technology and Innovation Management Sustainable Development...52 Resource Management & Environmental Planning...53 Carbon & Energy Management...54 Firms, Communities and Social Responsibility...55 Business Management in a Carbon Constrained World...56 Sustainable Business Practice...57 Systems Thinking Systems Dynamics (For a Complex World)

5 Table of Contents Group 2 Electives International Business IBUS2301 International Business Management...62 IBUS2302 Globalisation & Business...64 IBUS3303 Managing International Business Operations...65 IBUS3304 Business Opportunities in Asia...66 IBUS3306 Managing International Legal Environment...67 IBUS3309 Managing Across Cultures...68 MGTS3606 Managing in the Global Workplace...94 ebusiness INFS2233 INFS2244 MGTS3204 MGTS3205 MGTS3207 MGTS3208 Foundations of Electronic Commerce...69 Electronic Commerce Systems Development...70 Electronic Commerce Infrastructure Management...82 Securing the Commercial Internet...83 Managing the Virtual Organisation...84 Managing Information Systems & Services...85 Real Estate and Development GEOG2000 Location & Land Use...60 LAWS2000 Real Estate Law...72 PLAN1001 Introduction to Planning REDE1100 Valuation Principles REDE1300 Building Construction Management & Economics REDE2201 Real Estate Investment REDE3100 Investment Method of Valuation REDE3101 Statutory Valuation REDE3102 Advanced Valuation REDE3200 Real Estate Development Planning REDE3201 Sustainable Real Estate Management REDE3202 Development Appraisal Project Marketing MKTG2501 MKTG2505 MKTG2508 MKTG2511 MKTG3501 MKTG3503 MKTG3504 MKTG3509 Consumer Behaviour...99 Product and Service Management Brand Management and Strategy Marketing Analysis Marketing Strategy Sales and Account Management Applied Market Research Contemporary Issues in Marketing

6 Table of Contents Group 2 Electives Human Resources MGTS2603 Leading & Managing People...77 MGTS2604 Introduction to Human Resource Management...78 MGTS2607 Employment Relations...80 MGTS3601 Organisational Design & Change Management...86 MGTS3602 Managing Workplace Conflict...88 MGTS3603 Strategic Human Resource Management...90 MGTS3604 Human Resource Development...91 MGTS3605 Negotiating Employment Agreements...92 MGTS3606 Managing in the Global Workplace...94 MGTS3607 Managing Performance...95 Group 3 Electives ECON1310 ECON1320 FINM1401 LAWS5136 LAWS5151 MGTS3608 MGTS3614 ORGC2601 ORGC2609 ORGC2610 RBUS3999 Quantitative Economic & Business Analysis A...21 Quantitative Economic & Business Analysis B...24 Personal Wealth Management...59 Commercial Law...74 Law and Technology...76 People, Productivity and the Public Sector...97 Knowledge, Innovation and Creativity...98 Influence & Persuasion Communication, Change & Sustainability Corporate Communication Business Industry Placement

7 About UQBA The (UQBA) is a student body whose primary objective is to connect aspiring professionals with their future employers. Established in 2000, UQBA has actively facilitated the professional and social development of the business, economics and commerce students at UQ. UQBA is the largest business society in Queensland and one of the largest student societies in Australia. The association has a prestigious history of hosting innovative career networking events, dynamic social events and valuable professional development events. In 2015, UQBA is looking to expand on the success the society had in 2014 by expanding it s offering and launching new initiatives and events. Be sure to look out for our corporate and social events in 2015, including: Semester 1: Start of Year Party Professional Development: Choosing the Right Major How To Workshop: Job Applications How To Workshop: Job Interviews Professional Pathways Pub Crawl Corporate Walkabout Semester 2: Corporate Connections How To Workshop: Networking and Business Etiquette Women in Business Luncheon Annual UQBA Business Ball Marketing Competition End of Year Party 4

8 UQBA Events Market Day (Semester 1) Professional Pathways (Semester 1) UQBA Business Ball (Semester 2) 5

9 Foreword It is with great pride and pleasure that UQBA is able to deliver to the Business students of UQ the inaugural edition of The Blueprint (Business Management Subject Guide). We hope that this guide will assist you in choosing your elective subjects and developing your own blueprint plan for your uni studies. This guide should allow you to make informed decisions based on the honest opinions, recommendations, and tips of other UQ Business students just like you, so that you may design a targeted plan to maximise the benefits of your university degree. There has been a lack of a guide for business subjects for the past few years. In past years subject guides have been immensely useful for UQ students, hence this year UQBA has taken on the task of developing one for the students we represent: you. We have had a huge response from students who have given their careful and considered advice in completing survey questions on aspects of each course, such as the content, classes, and assessment. It has been a huge task developing a guide from scratch, so this year we have covered only the elective Business subjects (there are over 80 of just those!), but next year we hope to also cover the compulsory ones, as well as including more information such as grade distributions. In 2015, UQBA is looking to expand its offering to members and cater to a wider variety of students. One of UQBA s primary objectives is to cater to the holistic development of its student members, and as part of this objective, this guide will hopefully enable students to make informed decisions when choosing subjects and planning their degrees. UQBA is undertaking fresh, tangible and useful events in We pay particular thanks to all of the students who submitted reviews for this publication. Student feedback if the foundation for The Blueprint, and we couldn t deliver this guide for other current and future students without it. Considering this, we urge all of our readers, especially if you do derive some benefit from using this guide, to complete a survey for all or any business subjects you have studied so that we may continue to provide and update this publication in the future. We also thank the staff at UQ who have assisted us throughout the process. Whether you are brand new to UQ, on the cusp of graduating, or anywhere in between, on behalf of the entire UQBA executive I wish you the absolute best for 2015 and for the rest of your future studies. Warm regards, Sidney Sneddon UQBA Careers and Education Director 6

10 Acknowledgements UQBA would like to thank all of the students who have contributed to this publication, either by submitting reviews of subjects or contributing to the editorial work for The Blueprint The names listed below are students who have provided permission for us to acknowledge their contributions: Nazlee Atmeh Nathan Bleakley Joel Calcutt Cameron Campbell Sarah Cunningham Stuart Doig Alex Doyle Rebecca Hale Kristy James Catherine Jaques Alice Lane Laura McKennariey Vihan Muthanna Joshua Nash Montgomery Quaife-Ryan Mitchell Reinke Amparo Santiago Sabrina Schreiber Lucy Sherington Jack Slater 7

11 ADVT2506: Online Advertising No student review was given for this subject this year. UQBA is working hard on having a review ready for If you have completed this subject we would like to hear your review! Go to uqba.org.au/theblueprint Prerequisites: MKTG units of courses Contact Hours: 2 contact hours Course Coordinator: Dr M Brown Offered: Semester 1 The Advertising industry has undergone significant transformations in recent years as interactive and digital media have changed media and advertising. This course will explore the implications for media content, audiences, modes of media consumption and production, modes of delivery for advertising and methods of audience measurement within an online environment. The course investigates developments in digital and interactive media, the online advertising environment and online media/advertising consumption by audiences. Students will gain practical skills in how to use online environments for advertising: how to target particular audiences, how to manage online content and digital objects, and other practical considerations such as how to utilize social media, and the importance of Search Engine Marketing. Introduction to the Changing Digital Media Environment Digital Advertising: Industry Structure and Content Choices Search Engine Optimisation Search Engine Advertising Digital Media Research and Planning Digital Media Buying Implementation, Analytics, and Accountability Social Media and Social Networks Social Influence Marketing Advertising and Mobile Media Online learning content/project work Advertising and Digital Video Evolving Platforms Video (15%) Group Project Report (30%) Final (55%) 8

12 ADVT2509: Foundations of Advertising Prerequisites: MKTG units of courses. BCommun students require COMU1010 Contact Hours: 2L, 1T Course Coordinator: Dr D Von Freyhold Difficulty: Offered: Semester 1 This course examines the business of advertising. It addresses the history, structure, workings, context and regulatory framework of the advertising industry in Australia and situates this in a global context. Theoretical foundations of advertising and their application to planning and implementing advertising strategies will be addressed. Students will gain practical knowledge of the advertising industry, including creation of successful campaigns and assessment of campaign effectiveness. Guest speakers from the advertising industry will demonstrate the roles of advertising industry stakeholders, and what constitutes effective campaigns. Introduction - the advertising industry and Integrated Marketing Commu nications. How advertising is regulated? The social and ethical context. The Communications Process + Project Orientation Guest Lecture One Punch can Kill Starting with the Consumer: Consumer Insight and Consumer Behaviour Building Brand Relationships Setting IMC Objectives and Budgets Message Strategy and Execution Media and Contact Strategy Media Options Measuring Campaign Effectiveness Student Perspective Content/Overall The course gave a strong overview of the themes and concepts built upon in the rest of the advertising major. It provides a great introduction to areas that are covered in greater depth in the rest of the advertising subjects and is therefore a great choice for an elective, particularly early on in your degree. 9

13 ADVT2509: Foundations of Advertising Classes The lectures generally followed the prescribed readings with an interesting and helpful discussion of case studies. Lectures were sometimes disjointed and occasionally became a bit off topic. This means that students should definitely try to complete their readings and background work to ensure they understand where the course is going and what is truly important. The course could be effectively studied from the notes but it is highly recommended to not miss the guest lectures. There have been some excellent guest lecturers in the past which students have always thoroughly enjoyed. The tutorials often lacked structure and students were sometimes unsure of content and criteria; therefore the usefulness of tutorials may be heavily based on which tutor you have. Try to find a tutor who suits your learning style. Midsemester (20%) Group project (30%) Presentation (20%) Final (30%) Students felt that assessment was fairly marked and achieving high marks was relatively easy. Advertising classes are somewhere where creative and aesthetic presentations or reports will earn you extra marks, so go the extra effort with assignments to maximise your grade. Resources available Lecture recordings, Lecture slides, Consultation hours, Past/sample final exams Recommendations/Tips Student feedback was that the textbook was extremely well structured for the course and very easy to read. Students highly recommended buying it. 10

14 ADVT2510: Advertising Media Prerequisites: MKTG units of courses Contact Hours: 2 Seminar hours Course Coordinator: Dr C Hodkinson Difficulty: Offered: Semester 2 This course explores the close relationship between the advertising and media industries. It examines in some detail the various media that are used for advertising. Media and Advertising Industry guests share their experiences, discussing the costs, constraints and opportunities presented when using different media for advertising, and the importance of understanding and measuring media audiences. The course introduces students to current media industry issues of relevance to advertising, in particular media fragmentation, digital media and convergence, and changing media production and consumption practices, which are having significant impact on media/advertising content, modes of delivery, media programming, and advertising strategy. Practical workshops introduce creative advertising genres and formats, creative strategies and skills. Students work on creative concept development, copywriting, design and production of print and outdoor ads. ; The role of advertising in strategic marketing, media and media planning; media fragmentation A Digital Media Primer Creative advertising: Creating an Ad: Persuasive Elements and Appeals+ Message strategy, copywriting and execution Message strategy, copywriting and execution (cont d) + Media Strategy and Planning Traditional media: Print and out-of-home Traditional Media: Radio and Television The Media Plan: Media selection and Media measurement The Media plan: Scheduling and budgets Social Media Ethical, social, and regulatory issues The future of advertising and media At the cutting edge - Proximity Marketing + exam preparation Student Perspective Content/Overall The course builds on the topics of media channels and structure that was introduced in ADVT2509. It examines the key aspects that influence media choice and strategy. Despite this, the course has a reasonably small amount of content and could fairly easily be taken as a fifth subject. 11

15 ADVT2510: Advertising Media Classes The lectures did not add extensively to the lecture slides. Some students found that a thorough study of the slides with a review of the tutorial questions was sufficient to achieve solid marks. Tutorial attendance is definitely recommended, especially in the lead up to the project submission to validate ideas and confirm requirements. Students found the textbook wasn t necessary, however useful for a more comprehensive understanding. Group assignment (ad creation and pitch) (25%) Group project (media plan) (25%) Final exam (50%) In the group assignment, the actual creation of the ad gives you enormous scope for creativity, which students thoroughly enjoyed. If you decided to study advertising for ad creation and design this is certainly a good subject for you! Students didn t enjoy the accompanying media pitch later in the semester as much, however said it was still useful to experience the whole process that a real life advertising executive would go through. Resources available Lecture recordings, Lecture slides, Tutorial questions, Consultation hours, Past/ sample final exams Recommendations/Tips Students said that the textbook wasn t overly useful and very brief, so borrowing the book or just doing other reading would be entirely sufficient. Students strongly suggested working with creative people on the group ad project as it requires imagination and originality. 12

16 ADVT2511: Advertising and Consumer Culture Prerequisites: MKTG units of courses Contact Hours: 2L, 1T Course Coordinator: Dr Liz Ferrier Difficulty: Offered: Semester 2 The course examines advertising in a social and cultural context. It introduces students to some foundational theoretical concepts and methods for the analysis of advertisements and consumer culture. While other subjects may concentrate on the workings of the advertising industry and the production of advertisements, ADVT2511 concentrates on cultures of consumption, and includes training in textual analysis to enable students to make informed readings of ads. Students apply previously learned theories by analysing advertising texts and by examining how advertising strategies have evolved. Introduction What is consumer culture? Cultural Analysis of Ads: Visual Codes and Conventions Cultural analysis of ads: Ad types and genres; cultural codes; semiotics. Cultural analysis of ads: narrative analysis Cultures of consumption - how consumption practices have changed and what that means for advertisers. Cultures of Consumption: understanding consumption in everyday life. Cultures of consumption - subcultures and niche cultures Cultures of consumption - luxury in travel & fashion Consumers as producers of meaning: consumer participation. Consumption communities: consumers as tribes. Student Perspective Content/Overall Students found that this was a much more theoretical elective. Overall, students thought that the assessment pieces were weighted disproportionately to the effort that was required, for example assignments that didn t require much work contributed significantly to the final grade. For this reason students recommended talking to the academic staff a lot to get a good understanding of the assessment structure. 13

17 ADVT2511: Advertising and Consumer Culture Classes Students found the lectures to be interesting and liked that real advertisements and issues were used to demonstrate what was being taught in class. Students noted that there was some delay in getting the lecture recordings online. Tutorials were very helpful for the assignment in particular. Students appreciated having time each week to get feedback on their progress and to steer them in the right direction. Midsemester (25%) Project plan (15%) Essay (35%) Final (25%) Students thought that assessment seemed to be somewhat abstract at the beginning of the course, but over time and especially with the tutorials, it became easier to understand what was required. Resources available Lecture recordings, Lecture slides, Consultation hours Recommendations/Tips Students found that they could have completed the course without the textbook. They noted that students should get as much use out of the tutorial time and seek help if required then, because this would get you on the right path for the assignment. 14

18 ADVT3505: Advertising Strategy No student review was given for this subject this year. UQBA is working hard on having a review ready for If you have completed this subject we would like to hear your review! Go to uqba.org.au/theblueprint Prerequisites: ADVT2506 or 2509 or 2510 or 2511 or MKTG2506 or 3502 Contact Hours: 2L, 1T Course Coordinator: Dr M Brown This course provides students with an advanced understanding of advertising strategy. It brings together and builds on the various practical and theoretical aspects of advertising addressed in other ADVT courses, and offers guidelines for best practice in advertising strategy. The lectures, readings and discussions give an important theoretical framework for the students practical, intellectual and creative development in advertising. Students will learn how to develop, critique and assess advertising strategy. The course will include: analysis of advertising strategy, with detailed discussion of significant global and local advertising campaigns; an overview of current theory and research about advertising strategy, and examination of what makes for effective advertising; advanced media analysis, applying audience research to strategy development; practical application of these various elements in advertising strategy development exercises. Advertising and the Role of Strategy The Advertising/Media Plan Audience Strategy: Defining the Target Account Planning and Research-Driven Strategy Creative Strategy How to Give a Great Presentation Media Analysis: Print and out-of-home media Media Analysis: Broadcast media Media Analysis: Interactive and Digital media Media strategy International Advertising Strategy Critique (5%) Group Project (35%) Final (60%) Offered: Semester 1 15

19 ADVT3506: Advertising Research Prerequisites: ADVT2506 or 2509 or 2510 or 2511 or MKTG2506 or 3502 Contact Hours: 2 seminar hours Course Coordinator: Dr Chris Hodkinson Advertisers expenditure on media and related activities continues to rapidly change and expand (especially in emerging economies), and more than ever before this expenditure is subject to significant financial and marketplace scrutiny. This course is designed to offer students an opportunity to develop in-depth knowledge of the main quantitative and qualitative methods used in advertising and media research, especially for the purposes of advertising evaluation. Emphasis is placed on the importance of research in advertising and media, applied research skills for advertising evaluation and media measurement, and critical analysis skills relating to advertising and media research. Students will gain a strong theoretical and practical understanding of relevant research techniques and topical research issues in the field, through exposure to academic and industry research readings, case studies, assessment relating to a real campaign, and industry guest lecturers. The nature and process of advertising and media research Research ethics Research methods: Quantitative Research Methods: Qualitative Media and audience research Advertising evaluation: awareness Advertising evaluation: affect Advertising Evaluation: Behaviour Guest Lecture Sponsorship-linked advertising research Message source and execution research Student Perspective Difficulty: Offered: Semester 2 Content/Overall Students noted that whilst the course description suggests that this subject is based significantly around industry case studies and examination of innovative techniques, the course is mainly structured around academic journals and theory (although the former description does form some of the course). 16

20 ADVT3506: Advertising Research Classes The lectures presented some interesting cases amidst the more dry review of academic articles. The depth of the article reviews in class meant that there was no need to comprehensively read them beforehand. Students found that the tutorials were particularly helpful in the lead-up to the second assessment piece. Apart from that, students found that they sometimes seemed less relevant to the course and the tutor could sometimes get sidetracked. Article Review (20%) Advertisement Evaluation group assessment (40%) Final (40%) Students thought that the article critique was straightforward and easy to understand. The group assignment is worth a large proportion of your mark so it is very important to find good group members as soon as possible! Resources available Lecture recordings, Lecture slides, Tutorial questions, Consultation hours Recommendations/Tips Some tutors tend to drift off topic and beyond the course material, leaving students uncertain of course content and requirements. Come prepared with specific questions or comments to ensure you get the most out of tutorials. 17

21 ADVT3507: Creative Advertising and Production No student review was given for this subject this year. UQBA is working hard on having a review ready for If you have completed this subject we would like to hear your review! Go to uqba.org.au/theblueprint Prerequisites: ADVT2506 or 2509 Offered: Semester 2 or 2510 or 2511 or MKTG2506 or 3502 Contact Hours: 3 contact hours Course Coordinator: Dr D Nguyen This course further develops students understanding of production processes involved in the execution of creative advertising. Using digital videos and production/editing software, the students will undertake practical creative tasks. The course examines several different aspects of creative production, from creating powerful visual images, using digital cameras and videos, creating, recording and manipulating sound for creative purposes, filming and editing video, copywriting, scriptwriting and narrative development. Media production professionals will be involved in guest lectures and workshops, to help develop students skills in producing and understanding creative and persuasive content. However, emphasis is placed on the management and coordination of content production. Advertising - Contemporary Topics Designing Advertising Concepts Designing Settings and Characters Effective Writing Effective Composition Effective Juxtaposition Individual Assignment Information Applied Creative Advertising Midsemester (20%) Work-based assessment project (40%) Group project (40%) 18

22 ADVT3508: Contemporary Issues in Advertising Prerequisites: ADVT2506 or 2509 or 2510 or 2511 or MKTG2506 or 3502 Contact Hours: 4 contact hours Course Coordinator: Dr Nicole Hartley ADVT3508 provides students with an in-depth and critical review of contemporary advertising research and issues. A broad overview of influential advertising theories, research and practice underpins this analysis. The course aims to equip students with the knowledge and skills needed to undertake a comprehensive review of contemporary issues that pushes the boundaries of our knowledge of the field. The effective use of advertising can strongly enhance the successfulness of an organisation s marketing communications strategy. This course will emphasize academic discussion of current issues affecting advertising at both a national and global level. An ability to critically analyse the current advertising environment, coupled with a strong understanding of key theoretical models, is paramount for the successful promotion of products within the consumer and business markets. The course will provide a refresher to key advertising concepts and theories, then build to a critical examination of a selection of contemporary issues shaping advertising today. As such, the course will revolve around, inclass discussions, presentations and industry-based assessment. Overview of Advertising - Contemporary Issues in Australia Audience Online Advertising Social Networking Mobile Communications Measures of Effectiveness Creativity Advertising - Special Topic Ethical Issues in Advertising Student Perspective Difficulty: Offered: Semester 1 Content/Overall Students found that the course was mainly focused around an industry project where they worked with a small start-up company. Students had to implement a strategic marketing/advertising/pr plan which had the potential to have an incredibly significant real-life impact on their partner business. The course gives students a truly unique opportunity to put theory into practice and many students have highly recommended the course to anyone eligible to study it. 19

23 ADVT3508: Contemporary Issues in Advertising Classes Lectures and tutorials were combined into a 3 hour interactive seminar. This way, all of the course s contact hours were on one day of the week. Although the seminars were three hours, they were effectively broken up with breaks so it wasn t noticeably long. There were no separate tutorials in this course. Advertising industry project (45%) Presentation (25%) Final (30%) The assessment was to implement the strategic plan for their real-life partner business. Students found this was an engaging and rewarding form of assessment, and was quite different to other courses they had studied. Resources available Lecture recordings, Lecture slides, Consultation hours, Past/sample final exams Recommendations/Tips Student feedback on the whole recommends that students undertake this course. Some students noted that it was the best course they had studied so far in their undergraduate degree! Also, some students found that fulfilling the prerequisite courses was not necessary to still achieve high marks in this course. 20

24 ECON1310: Quantitative Economic & Business Analysis A Prerequisites: Maths B or Maths C or MATH1040 Contact Hours: 2L, 1.5T Course Coordinator: Mr Carl Sherwood Difficulty: Offered: Semester 1 & 2 ECON1310 is an introductory course in quantitative analysis for business and economics. The course covers a variety of techniques applicable to the presentation, interpretation and use of data. The main emphasis is inferential statistics with Estimation and Hypothesis Testing techniques being an important part of the course. Inferential statistics is continued in the simple linear regression topic. There is an emphasis on the use of Excel for analysis and presentation. This course is widely regarded as challenging by many students. One reason is that the work is totally cumulative. This means that it is exceptionally difficult to catch up if a student gets behind in the work. Success in the subject depends on keeping up-to-date. With this in mind, each topic is assessed as it is completed via a computer managed quiz. As well as covering concepts that are an essential part of the analytical tool box for well-trained professionals, ECON1310 provides a foundation that is critical for success in later statistical courses, particularly ECON2300 Introductory Econometrics. Descriptive Statistics eg. data types, sources, levels, descriptive and inferential statistics, sampling methods and errors Probability conditional probability, discrete distributions, binomial probability Normal Distribution interpreting normal distribution table, Z-scores Sampling Distributions Confidence Intervals for the difference between two means Hypothesis Testing methodology, one and two-tailed tests, critical val ues, errors, p-values Simple Linear Regression - standard error, SLR model Student Perspective Content/Overall Overall, students found that the course was well structured and concepts built progressively on each other over the duration of the course. The content covers the basic aspects of statistics and is a solid foundation for future courses. Students found that the initial difficulty and dry nature of statistics could be tough but once they learned the basics the content wasn t overly difficult. 21

25 ECON1310: Quantitative Economic & Business Analysis A Classes Lectures were relatively informative, with content introduced and then applied through worked examples. Lecture content and notes were based on textbook material and were reinforced in PASS and tutorials. It would be possible to use lecture recordings rather than attending the lectures themselves to adequately cover the content and still achieve quality grades. The lectures were fairly content heavy, so reading before the lecture or revising the lecture recording afterwards could be a good idea as well. PASS and tutorials were both helpful and well-organised and provided an opportunity to apply content covered in the lecture. Students noted that the questions in both classes were very similar to those in the mid-semester and final exam. Students stressed that tutorials and PASS were a must as the course is very progressive and you cannot afford to fall behind. Tutorials can have a lot of questions for the tutor to get through, so attempt the questions beforehand if you can as they can move quickly. PASS was particularly helpful to further consolidate the understanding of the content as they do a summary of the main points from the lecture at the start and then move onto applied questions. Summary sheets were also provided in PASS. Midsemester (25%) 5 x CML Quiz (computer based assessments) (4% each) Final (55%) requirements were clearly communicated and questions were of similar standard, difficulty and nature to those covered throughout the semester in tutorials and PASS sessions. Results were returned relatively quickly and expectations in terms of assessable content were reasonable. Students found time to be an issue in exams. Being able to correctly identify what type of problem each question is will be important, as some questions can appear similar but have a minor difference which changes the formula you will use, so be careful. Exams were very otherwise very similar to past exams. The weekly quizzes were a good way to pick up extra marks, so definitely make your best attempt. Resources available Lecture recordings, Lecture slides, Tutorial questions, Consultation hours, Past/ sample final exams, PASS (Peer Assisted Study Sessions) 22

26 ECON1310: Quantitative Economic & Business Analysis A Recommendations/Tips The textbook was useful in supplementing lecture notes and activities covered in tutorials and PASS. However, with that said, I would say the majority of the assessment items came from lecture slides and exam questions were similar to those covered in tutorials, meaning students could achieve similar results with or without a textbook. Students who aren t as strong at mathematics may benefit from having the textbook to refer to as it simplifies and breaks down each concept without having to go to a tutor. As ECON1310 is a core subject for many degrees, students should easily be able to find second hand copies or borrow the book which could save a lot! Having done Maths B at school will be an advantage, however if you haven t done Maths B, don t worry as it is a first year subject and a lot of resources are provided. Attempt the tutorial questions before class as it s a good indicator if you know what s going on and are keeping up. It might seem really simple and make sense when the tutor is doing it on the board, but it s not quite the same as figuring it out for yourself. Students highly suggest doing all the quizzes and aiming for full marks on each as it s an easy opportunity to pick up marks, so don t waste it! Students strongly discourage cramming for exams in this subject! There is a lot of content to cover and students need to grasp the methodology to do well. Keep up as you go as one week s work directly relates to the previous week s work. This is a good subject to get done in first or second year. 23

27 ECON1320: Quantitative Economic & Business Analysis B Prerequisites: Semester 2 & Summer Sem. Contact Hours: 2L, 1.5T Course Coordinator: A/Prof J. Asafu Adjaye Difficulty: Offered: Semester 2 & Summer This course is a continuation of ECON1310 (Quantitative Economic and Business Analysis A). It introduces students to several new statistical techniques for making informed and objective decisions in a range of economic and business environments. It provides a broad platform for the advanced study of econometrics, finance and operations research. The course deals with basic statistical models and methods used in business and economics. Topics may include multiple regression analysis, time series analysis, survey sampling, index numbers and decision theory. Problems & exercises are solved manually & using Microsoft Excel. Inferences Concerning Two Populations Analysis of Variance Chi-square Tests From Simple to Multiple Regression Multiple Linear Regression Time Series Analysis Index Numbers Nonparametric Tests Student Perspective Content/Overall If you enjoyed and understood ECON1310, ECON1320 is a great elective to consider. The content follows on straightaway from ECON1310, and depending on the lecturer, can sometimes even double up on what was taught. The course has a similar structure to ECON1310 with reference to CMLs, the mid-semester and final. It would also be worth noting that this course is often available to study over the Summer, so if you re looking to speed up your degree this may be something that interests you. Classes In previous semesters, the lecture slides were greatly used, such that students said if you were strong at maths and statistics you may get away with learning the lecture content just from the slides. The slides were detailed with worked examples that give enough detail for students to attempt themselves. 24

28 ECON1320: Quantitative Economic & Business Analysis B Students found that sometimes the content could be dry with the more complex worked examples. Students sometimes did not understand until they went back and worked through these harder questions themselves. Tutorials were not assessed, with answers uploaded to blackboard at the end of the week. Students found that the tutorial work was great to get additional practice. PASS is also offered for ECON1320, and again, is helpful for getting further assistance and practice to help ensure you do well on the course. PASS helps to breakdown long worked examples, such as Deseasonalising, which can be valuable come CML s. Answers are only given in PASS classes or PASS consult. Students strongly recommend doing the questions before going to the tutorials to check whether you understand what the question is asking and how to solve it. Mid Semester Exam 25% 5x CML Quiz (computer based assessment) 3% each Final 60% In the past, a formula sheet has been provided for exams or sometimes one page of notes. However it is unknown at the time of publishing what the exam format will be in As in ECON1310, CMLs are used as a piece of assessment. Make sure you keep a note of quiz closing times and do a second attempt if you don t do so well the first time. CMLs may seem like a low % per quiz, but they do add up and can be the difference between a 6 and a 7 at the end of semester. Students thought that the mid-semester and final were as they expected with no real surprises. Past exams were helpful, but be careful on different lecturers writing different exams as some content can be missed or added. Resources available Lecture recordings, Lecture slides, Tutorial questions, Consultation hours, Past/ sample midsemester exams, Answers to past/sample midsemester exams, Past/sample final exams, Answers to past/sample final exams Recommendations/Tips Students recommended that students do the tutorial questions and go over the practice exams provided, as they were extremely similar to what was in the actual exams. The textbook from Stats A (ECON1310) can be used for ECON1320, and it is good for further understanding but isn t critical to have. Make sure you have completed ECON1310 prior to this subject as a lot of information will be assumed knowledge. Students noted that if you keep up with the work and seek help from the ample resources available, ECON1320 is a very good elective to choose as getting a good grade is very achievable. 25

29 ECON2060: Behavioural and Evolutionary Economics Prerequisites: EC101 or 121 or ECON1010 Contact Hours: 2L, 2T Course Coordinator: Dr Peter Earl Difficulty: Offered: Semester 1 Examines approaches to economics of consumers and firms based upon applications of psychology and studies of actual behaviour in complex, uncertain and rapidly changing environments. Examines the policy implications of these contributions and includes coverage of recent work on the economics of happiness. The significance of behavioural economics was acknowledged by Nobel Prizes awarded to Herbert Simon (1978) and Daniel Kahneman (2002) and it has become widely taught in the past decade. The unit will be taught in a way that aims to develop critical thinking skills rather than focusing on mathematical techniques. Note that the course has undergone major changes in recent years. The 2014 onwards version moved away from mathematical models and back to a more discursive, reading based approach. Introduction Marshallian and Schumpeterian Roots Keynes and Shackle on Coping with Uncertainty Bounded Rationality, Routines and Organizations Information, Knowledge and Consumer Behaviour Twisted Cognitions and Resistance to Change Common Human Failings Thinking Fast and Slow/Prospect Theory Manipulating and Protecting the Consumer Behavioural & Evolutionary Macroeconomics Macroeconomics (2) growth, inflation happiness Overspill, Overview and Exam Advice 26

30 ECON2060: Behavioural and Evolutionary Economics Student Perspective Content/Overall Students thought that this course was particularly interesting as it was very different to any other economics courses they had previously studied. The course moves away from the traditional assumptions that economics students are taught to implement in most economic analyses and delves into the psychological, physical, and social reasons why humans do not always behave as a perfectly rational homo economicus decision maker. Classes Students thoroughly enjoyed lectures which ranged from mathematical models to neuroscience. Students engaged with concepts and topics, though some definitely were more difficult than others. Tutorials were particularly helpful in allowing students to practice the quantitative aspects of the course, but were not very focussed on the soft theory which had to be revised in individual study time. Tutorial Participation (10%) Editing Task (15%) Annotated Bibliography (Assessed Reading) (25%) Final (50%) Students thought that it was not made clear enough that the quantitative aspects of the course would be so heavily assessed in the midsemester. Students also thought that there was not enough of a range of quantitative questions provided for practice in tutorials or before exams. Resources available Lecture recordings, past exams, consult Recommendations/Tips Students recommended seeking as much advice from academic staff as possible on both the likely exam coverage and also the quantitative models should students not feel entirely comfortable with the content, as it does count for a fair bit of your marks. Students also stressed that it is important to keep up on the readings as this is a very theory-heavy course. 27

31 ECON2070: Introduction to Strategic Thinking Prerequisites: ECON1010 Contact Hours: 2L, 1T Course Coordinator: A/Prof J. Kline Difficulty: Offered: Semester 1 ECON2070 introduces many of the main concepts, methods and terminology of game theory and demonstrates how these tools may be applied to both economic settings and situations in other disciplines. The aims of this course include teaching students strategic considerations to regard when making personal choices, and the ability to predict the behaviours of other people or organisations when they are in strategic settings. Students will apply tools learned to settings from economics and other disciplines. Students will also play several games in class. Strategic Form Games Dominance & Iterative Deletion Nash Equilibrium Cooperation and Conflict Concentrated Markets: Oligopoly Coordination Games and Strategic Uncertainty Choice under Uncertainty and Mixed Strategies Games and Evolution Extensive Games of Perfect Information Sub-Game Perfect Nash Equilibrium Backward Induction: Limitations and difficulties Student Perspective Content/Overall Students thought that the course was incredibly useful and engaging as the concepts learned could be applied both in an economic and real-life context. Students have highly recommended the course, particularly for students interested in traditional game theory economics. Classes Students enjoyed the style of lecture delivered and highly recommended attending classes. They thought that the content was covered in detail and prepared them well for assessment. 28

32 ECON2070: Introduction to Strategic Thinking Midsemester (35%) Final (65%) Student feedback was that the final was fairly difficult, so don t rest on your laurels if you get a good mark in the midsemester.. However students have generally done well in this course in the past regardless. Resources available Lecture recordings, past exams Recommendations/Tips Students thought that the textbook was not really necessary, especially for students with a strong grasp on economics. However it does provide a solid introduction to the concepts and can be good to have on hand as a reference. Spend plenty of time preparing for exams as they can be deceptively hard. 29

33 ECON2200: Management of Financial Institutions Prerequisites: ECON1010 (recommended ECON1020) Contact Hours: 2L, 1T Course Coordinator: Dr B Morgan Difficulty: Offered: Semester 2 The course introduces students to the Australian financial system, and provides an overview of a financial system in a developed economy by describing its main components. The course explains the role of a financial system in the economy, the functioning of financial markets, the main characteristics of common financial products, the valuation of financial assets, the nature and management of financial institutions, the role of central banks in the payment system and the regulation of the financial system. Thus, the course does not exclusively focus on financial institutions management issues, as the title may suggest, but aims at providing a wide picture of the different components making the Australian financial system, components that are present in a form or another in the financial systems of all developed economies. The course provides the background recommended for students who plan to take more advanced topics in Financial Economics such as ECON3210 Financial Markets and Institutions or ECON3550 Economic Institutions and Global Banking. Although not a formal requirement, the course is also useful for students planning to study FINM2401 Financial Management, FINM3401 Corporate Finance or FINM3404 Banking and Lending Decisions. The course has also been designed to appeal to students outside the BEL Faculty who are interested in obtaining an overview of the operation of the financial system. A basic level of maths is required for the course. Financial transactions and balance sheets An overview of the financial system The Payment System Introduction to markets Interest Rates and Financial Calculations The bond market The money market Shares and the share market Authorised deposit-taking institutions The stability of deposit-taking institutions Public unit trusts and superannuation Interest rates and monetary policy 30

34 ECON2200: Management of Financial Institutions Student Perspective Content/Overall Students found this course fairly easy and a good introduction to the finance side of economics. The lecturer provided a lot of relevant resources for students to assist them with studying. Students thought that overall, this course was well put together. Definitely do this course if you are considering ECON3210 later in your degree. ECON3210 includes a lot of the same content so having done ECON2200 makes it much easier. Classes The lectures are quite engaging and will likely interest even most non-economic students because of the real world applicability of the content. Students recommended this subject to all university students because it provides a rudimentary understanding of much of Australia s financial system. The readings are not essential for passing the course as the content is fairly simple to understand for students with a solid business background, but they do provide a good read and will help to explain many topics. Students aiming to get a 7 should complete the reading as quizzes and MCQs are often based off small details in the readings. The content of the course is very basic, so tutorials were not really necessary. However, there would often be a good class discussion of the questions which allowed for greater understanding and the occasional difficult question would arise during tutes, so they are worth attending. Midsemester (30%) 2 x online test (10% each) Final (50%) The assessment was very fair, and gave you plenty of opportunities to make sure you get a good grade. The midsemester and final exam were unsurprising and followed the sample and past exams fairly well. Ensure you consult academic staff to understand what level of detail is expected in essay questions, as this has varied in the past. You may be required to cover a large chunk of the course in an essay, or you may be required to know in a lot of detail a more narrow subject in the course. 31