Course Title: Economic Analysis for Business

Part A: Course Overview

Course Title: Economic Analysis for Business

Credit Points: 12


Course Code




Learning Mode

Teaching Period(s)


City Campus


625H Economics, Finance and Marketing


Sem 1 2006,
Sem 2 2006,
Sem 1 2007,
Sem 2 2007,
Sem 1 2008,
Sem 2 2008,
Sem 1 2009,
Sem 2 2009,
Sem 1 2010,
Sem 2 2010,
Sem 1 2011,
Sem 2 2011,
Sem 1 2012,
Sem 2 2012,
Sem 1 2013,
Sem 2 2013,
Sem 1 2014,
Sem 2 2014,
Sem 1 2015,
Sem 2 2015,
Sem 1 2016,
Sem 2 2016,
Sem 1 2017,
Sem 2 2017,
Sem 1 2018

Course Coordinator: Associate Professor Jonathan Boymal

Course Coordinator Phone: +61 3 9925 5671

Course Coordinator Email:

Pre-requisite Courses and Assumed Knowledge and Capabilities


Course Description

Economic Analysis for Business will help you to understand the structure of the economy, how an economy operates, why economic problems occur and the reasons why policy makers make the decisions they do. It will explore and examine economic concepts and their application in “real world” situations.

This course will help you to develop the analytical techniques necessary to examine the economic environment in which you live and in which the businesses you are associated with must operate. It will enable you to make sense of the often confusing array of economic data and events and to place those into a logical and consistent framework. You will make your own judgements about the likely consequences of various economic events, including the likely policy response of decision makers.

Objectives/Learning Outcomes/Capability Development


On successful completion of this program you will be able to:

CLO1: Examine basic economic problems facing society and apply theory to practical problems in a business context 
CLO2: Analyse and evaluate economic issues within the frameworks of modern economic models and analytical techniques to explain and predict the outcomes of changes in a variety of economic variables;
CLO3: Analyse the interrelationships between economic variables and evaluate the major economic aggregates and how they are measured.
CLO4: Analyse and evaluate public policy to determine its economic and societal welfare consequences;
CLO5: Apply the appropriate economic tools to conduct a meaningful analysis of the economy in a professional ethical context

Overview of Learning Activities

In this course you will be encouraged to be an active learner. Your learning will be supported through various in-class and online class activities comprising individual and group work.These may include quizzes; assignments; prescribed readings; sourcing, researching and analysing specific information; solving problems; conducting presentations; producing written work and collaborating with peers on set tasks or projects.

Overview of Learning Resources

Various learning resources are available online through MyRMIT Studies\Canvas. In addition to topic notes; assessment details and a study schedule you may also be provided with links to relevant online information; readings; audio and video clips and communication tools to facilitate collaboration with your peers and to share information. 

Resources are also available online through RMIT Library databases and other facilities. If you require assistance with the RMIT library facilities contact the Business Liaison Librarian for your school. Contact details for Business Liaison Librarians are located online on the RMIT library website.

Additional resources and/or sources to assist your learning will be identified by your course coordinator will be made available to you as required during the teaching period.

Overview of Assessment

The assessment alignment table shows the assessment tasks against the learning outcomes they develop:

Assessment Task 1: 20%   
Linked CLOs: 1,2, 3, 4

Assessment Task 2: 30%   
Linked CLOs: 1, 2, 3, 4, 5

Final Exam: 50%  
Linked CLOs: 1, 2, 3, 4, 5

Feedback will be provided throughout the semester in class and/or in online forums through individual and group feedback on practical exercises and by individual consultation.