Course Title: Fundamentals of Economics

Part A: Course Overview

Course Title: Fundamentals of Economics

Credit Points: 12.00


Course Code




Learning Mode

Teaching Period(s)


City Campus


TRN RMIT Training


Term2 2018,
Term2 2019,
Term1 2020

Course Coordinator: Team Leader Business

Course Coordinator Phone: +61 3 9925 3043

Course Coordinator Email:

Course Coordinator Location: Level 4, B108

Pre-requisite Courses and Assumed Knowledge and Capabilities


Course Description

In this course, you will study microeconomic and macroeconomic fundamentals. These concepts will demonstrate the operation of the economy at consumer, firm and market levels. You will also look at decisions that impact upon the overall economy of a country and areas such as inflation, unemployment and trade. You will examine the behaviour of economic agents and how consumers and firms make decisions in a market environment. Emphasis is placed on the interrelationship between real world situations and the application of economic theory to practical scenarios.

Objectives/Learning Outcomes/Capability Development

See Learning Outcomes.

Upon successful completion of this course, you will be able to:

  1. Identify and explain how consumers, firms and government make economic decisions.
    2. Apply microeconomic concepts to explain real life economic scenarios.
    3. Analyse and interpret issues arising from economic policy.
    4. Explain how GDP, inflation and unemployment are measured.
    5. Identify and explain how various key factors determine economic output and prices in the economy.
    6. Apply macroeconomic concepts to explain real life economic scenarios.
    7. Identify and explain the importance and types of trade.
    8. Analyse and interpret the value of trade.

Overview of Learning Activities

Your learning experience will include face-to- face teaching, in-class discussions, group work, individual problem-solving exercises and out of class research.

Overview of Learning Resources

RMIT will provide you with the resources and tools for learning in this course through our online systems. Students will be provided with a student book in the first week of classes.

The University Library has extensive resources for Education students. The Library has produced a number of subject guides that includes quality online and print resources for your studies

The Library provides guides on academic referencing http// and subject specialist help via your Liaison Librarians.

Overview of Assessment

You will be assessed on how well you meet the course’s learning outcomes and on your development against the program learning outcomes.

Assessment Task 1: Locked down browser quiz, 15%

Assessment Task 2: Locked down browser quiz, 15%

Assessment Task 3: Portfolio, 40%

Assessment Task 4: Exam, 30%

If you have a long term medical condition and/or disability it may be possible to negotiate to vary aspects of the learning or assessment methods. You can contact the course teacher or the Equitable Learning Services Unit if you would like to find out more.

Your course assessment conforms to RMIT assessment principles, regulations, policies, procedures and instructions which are available for review online: