Analysis of issues that affect our daily lives, including pricing decisions by firms and their impact on our cost of living; game theory and strategic decision-making; tackling problems of pollution and global warming; and how governments use monetary and fiscal policies to stimulate economic growth and address unemployment and inequality.
Prerequisite: BUSINESS 115 or ECON 151 or 16 credits in NCEA Level 3 Economics with a Merit average including standard 91399 (Demonstrate understanding of the efficiency of market equilibrium), or a scholarship pass in Economics, or B grade in CIE Economics or 4 out of 7 in Economics (HL) in IB
The standard Stage I Statistics course for the Faculty of Business and Economics or for Arts students taking Economics courses. Its syllabus is as for STATS 101, but it places more emphasis on examples from commerce.
Economics affects our daily lives and the global environment in many ways. Through the media we are constantly made aware of price increases, interest rate changes, exchange rate movements and balance of payments problems, growth and recessions, standard of living comparisons, regional trading agreements. What does it all mean and how does it all work?
3 semester credits. This course is designed as an introduction to the study of economics. Students develop an understanding of economic institutions, history, and principles. Topics include basic tools of microeconomics and macroeconomics. Microeconomics deals with consumers, firms, markets, and income distribution. Macroeconomics deals with national income, employment, inflation, and money. Models that determine long-term growth and short-term fluctuations in national economies will be explored. Additional discussion will focus on the role of government regulation, monetary policy, and fiscal policy. Also, students will analyze major economic institutions, such as property rights, markets, business organizations, labor unions, money and banking, trade, and taxation.
Pre-requisites: course 1, Mathematics 31A, 31B, with grades of C or better.
Laws of demand, supply, returns, and costs; price and output determination in different market situations.
Pre-requisites: Mathematics 31A, 31B, with grades of C or better. Not open to students with credit for former Statistics 11. Introduction to theory and practice of mathematical statistics with emphasis on its use in economics. Introduction of basic statistical concepts such as random variables, probability distributions, estimation, confidence intervals, and hypothesis testing.
