This unit is an introduction to economic concepts and contemporary economic issues. It introduces students to basic concepts such as markets and their operation, the behaviour of firms, the efficiency and potential failings of free markets, the role of government, key macroeconomic variables and problems such as unemployment. It illuminates these concepts via application to contemporary economic issues and debates over different theoretical perspectives. This unit also exposes students to recent developments in economics via presentations by specialist guest lecturers.
Accounting Information for Managers
This unit provides exposure to financial and management accounting information from a user of accounting information viewpoint. The unit aims to provide breadth of awareness and knowledge in relevant fields of accounting essential to decision making for managers.
This unit provides an overview of the processes promoting globalisation and their impact upon Australian economic development. The unit stresses the interaction between the globalisation tendency and counteracting forces such as nationalism, and the contradictory economic, environmental, political, racial and class interests that have mediated and shaped the local impact of globalisation on the development of the Australian economy. The unit concludes by examining the socio-economic and environmental outcomes that ongoing globalisation is likely to produce in the 21st century for the world and Australia including the possibilities and prospects for indigenous economic development.
Financial Institutions and Markets
The investment, financing and risk management decisions that all firms make are implemented by creating and trading financial instruments in financial markets, often with the involvement of a variety of institutions. Using the Australian financial system as an illustration, this unit introduces students to the theory and functions of financial intermediaries and the operation of financial systems. Students also develop an understanding of the role and functions of markets in equities, debt, foreign exchange, options and futures, and theories of interest rate determination and the term structure of interest rates.
Corporate Financial Management
This unit introduces the fundamental concepts of finance theory and the tools of financial decision making in the context of the Australian institutional environment. These concepts relate primarily to the time value of money, risk and return, capital budgeting and capital structure. The unit's purpose is to develop an understanding of the basic practices of financial management from the perspective of a firm (both large and small). Students examine the investment, financing and dividend decisions of corporations.
Introduction to Economic Methods
Introduction to Economic Methods will cover basic concepts in Mathematics and Statistics to help their understanding of subjects like accounting, management, marketing, finance, and economics. In addition, the analytical techniques, concepts and models that will be discussed in this unit will play a foundation role in a Business degree. Topics include: Differential calculus and its application in business and economics; collection, analysis and interpretation of data using simple descriptive and inferential statistical methods; probability distributions, point and interval estimation, hypothesis testing, and an introduction to regression analysis.
This unit is an introduction to macroeconomic concepts, analysis and issues in the Australian context. Basic concepts introduced and applied include: national income accounting, economic structure, price indexes and inflation, the balance of payments, and labour market aggregates. These concepts are applied in describing and explaining the recent evolution of the Australian economy in terms of growth, structural change, price stability, and employment. This leads to a discussion of major policy issues such as the role of governments in managing economic fluctuations, and the implications of Australia's foreign liabilities. The course ends with a brief introduction to modelling income determination.
And one elective
Macroeconomic Theory aims to provide alternative theoretical explanations of the working of the macroeconomy. The unit will be based on the analytical narratives of macroeconomic developments taught in Australian Macroeconomy. Starting from the basic IS-LM model, it derives the aggregate demand (AD) curve and examines the components of commodity and money markets. It also analyses the labour market and derives the aggregate supply (AS) curve of an economy. Using the AD-AS model, it examines the interdependent nature of macroeconomic problems (e.g. inflation, unemployment), and the effectiveness of fiscal and monetary policies within a closed economy context. The basic model is then extended to analyse open economy issues (e.g., exchange rates and balance of payments, external shocks and international interdependence). Whenever appropriate, alternative approaches to macroeconomics are evaluated.
This unit is broken down to four main topic areas. The first topic area will cover the various professions within the property industry with particular emphasis on the valuation profession. The second session will concentrate on the areas of academic and industry report writing. This section will also address the areas of academic study, lecture procedures and examination technique. The third section will cover topics in relation to residential valuation and introduce the valuation methodologies for the more advanced property types as well as the skills required for data collection. The fourth section will introduce the valuation mathematics required for later valuation units.
Economics of Planning and the Environment
This unit equips students with the skills to apply economic principles and theories to issues in planning and the environment. The aim is to provide a broad understanding of microeconomic and macroeconomic systems and how these determine policies for managing the environment. It is a foundation for further studies in environmental economics and core planning courses.
This unit builds on concepts explored in Introduction to Economic Methods. The unit broadens the application of the stochastic linear model in econometrics, exploring its use in the estimation of economic models and in the testing of economic hypotheses associated with these models. The emphasis is on learning by doing in small group workshops.
Industry Economics and Markets
The first part of this unit develops an understanding of the relationships between industry structure, the conduct of firms, and market performance. Alternative theories of the firm and strategic market behaviour are considered. The unit then examines the characteristics and operation of particular markets, including public goods and utilities, human resources, and natural and environmental resources. The analysis developed in the unit is used to provide insights into applied policy areas such as competition policy, regulation of public enterprises, microeconomic reform and industry policy.
And three electives
Property Portfolio Analysis (V2)
This unit examines the role of property in an investment portfolio, with particular attention given to property portfolio performance analysis and property investment strategy. Indirect property investment vehicles in Australia and overseas are assessed, including listed property trusts, property syndicates, property securities funds and listed property trust futures. The performance analysis of both direct and indirect property is also examined to assess the strategic contribution of property to an investment portfolio.
This unit critically evaluates the wide ranging nature of the property development process, from initial development concept through to the end use of completed development projects. Considesr the implications of the property development process and development decisions from the wide ranging points of view of developers, end users, financiers, public authorities and the community at large. Gains both a theoretical and an applied understanding of development appraisal techniques, including financial and feasibility aspects inherent in those techniques.
This unit deals with: models of short-run fluctuations of regional aggregates and the economic relations between regions; models of long-run change in regional aggregates and the long-run economic relations between regions; equilibrium models of intra-urban location; optimal models of intra-urban allocation; and optimal allocation of capital to urban land.
This unit is designed to provide students with the knowledge required for making property investment decisions. It teaches students how to systematically analyse potential property investments in the real world. The analysis is based on the discounted cashflow models, which utilizes techniques such as NPV, IRR and MIRR, etc.
And four electives
Elective units may be used toward obtaining an additional approved major (80 credit points) or sub-major (40 credit points). UWS offers majors and sub-majors in a range of areas including Sustainability and Indigenous Studies. Refer to the Unit Set Index.
Students can apply for these unit sets using the Course Variation Form, which is listed under Enrolment Forms on the Student forms web page.