[vc_row][vc_column][themeum_title alignment=”center” title=”DETAILS FOR ECONOMICS” title_style=”customstyle” title_heading=”h2″ title_size=”32px” title_line_height=”35px” title_color=”#ff8500″ title_weight=”700″ introtext=”New to university studies & it all seems too hard? Worried about writing essay papers? Or where to begin researching? Or you feel confident in writing, but want to learn the skills of evaluating the masses of information we are bombarded with? This unit is for you! It will give you the tools of how to succeed in your undergraduate academic studies. It will examine how you learn, plus challenge you to think deeper, wider and more creatively. It will also encourage you in how to critically evaluate and reflect on information. Plus develop your skills in how to put it all together in an essay paper or oral presentation.” introtext_size=”14px” introtext_line_height=”24px”][vc_separator border_width=”2″ css=”.vc_custom_1527257617150{margin-top: 30px !important;}”][vc_column_text]

This subject introduces students to the approach and theoretical tools of contemporary mainstream economics.  It sets economics in its historical, ethical and theological contexts.  There will be a special study of the economics of religious behaviour and institutions.

Quick Info

  • Currently offered by Alphacrucis: Yes
  • Course code: BUS102
  • Credit points: 10
  • Subject coordinator: Andrew Youd

Awards offering Economics

This unit is offered as a part of the following awards:

  • Bachelor of Business
  • Bachelor of Business / Bachelor of Ministry

Unit Content


  1.  Ability to explain basic economics concepts, including:
    • Scarcity, opportunity cost, marginal analysis;
    • Supply and demand;
    • Market efficiency and market failure;
    • Cost-benefit principle;
    • Forecasting;
    • Growth, employment and fluctuations;
    • Real vs nominal;
    • International Trade

    2.    Skill in applying basic economic concepts to a public policy issue;

    3.    Skill in applying basic economic concepts to a business problem.

Subject Content

  • Introduction to Economics
  • Supply and Demand
  • Elasticity
  • Externalities and Public Goods
  • Discussion of Assignment
  • Production and Costs
  • Market Structures
  • Competition, Monopoly, Monopsony.
  • Labour Markets,
  • Inequality and Poverty.
  • Macroeconomics.
  • Money, Interest Rates and the Financial System.
  • Growth and Business Cycles
  • Inflation
  • Unemployment
  • Monetary and Fiscal Policy
  • International Trade
  • Exchange Rates
  • Economics of Religion
  • Religious Economics

This course may be offered in the following formats

  1. Face-to-Face
  2. Distance / Global Online

Please consult your course prospectus or enquire about how and when this course will be offered next at Alphacrucis College.

Assessment Methods

  • Online Exams (20%)
  • Economic Analysis (15%)
  • Group Case Study (15%)
  • Exam (50%)

Prescribed Text

  • Gans J., King, S., Stonecash, R., Byford,M., Libich, J. & Mankiw, N.G.  Principles of Economics: Australia and New Zealand Edition,  6th Ed, South Melbourne, Vic: Cengage Learning, 2015.Check with the instructor each semester before purchasing any textbooks