Singapore Polytechnic

School of Business

BA0508
ECONOMICS
AY2021/2022 Semester Two
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MODULE OVERVIEW (2021/2022)

ECONOMICS (BA0508)

1. Introduction

Economics is core module taught to all first year students in SP School of Business.

2. Module Aims

Economics provides students with a scientific understanding of decision-making

processes in the real world through the lens of microeconomic and macroeconomic
models.

3. Module Contents

The topics for Economics and their allocated lecture hours are listed below:

Economics

Topic Title Hours

1 Understand the basic concept of economics 2
2 Understand the basic concept of demand 1
3 Understand the basic concept of supply 1
4 Understand the market equilibrium 2
5 Understand and apply the concept of elasticity in the industry 2
6 Understand the principles of production and costs 3
7 Understand the various market structures 1
8 Understand what profit maximization means for firms 2
9 Understand unemployment and inflation 3
10 Understand gross domestic product and business cycles 2
11 Understand the aggregate demand and supply curves 3
12 Understand fiscal policy 3
13 Understand money and monetary policy 2
14 Understand international trade and finance 3

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4. Teaching Plan
The following table outlines the suggested timetable for instruction, subject to
changes to accommodate students’ pace of learning and/or events or activities in SP.
Economics – Semester Two
30 hrs 60 hrs
Week Lecture Tutorial Remarks
st
Term 3 1 2 hours 1. Tutors to use common slides
(8 weeks) 1. Bonding & briefing for briefing & module
1 on module, tutor’s overview.
18 – 22 Oct expectations and 2. Tutorial 1 available in
2021 flipped classroom. Go Blackboard, Learning
through module Resources folder Week 1.
overview. 3. Remind students to watch
2. Watch Topic 1 in Topic 2 & Topic 3 (Demand &
class. Supply) in Week 1 & prepare
the 2 tutorials on ‘Demand’ &
‘Supply’ for Week 2 discussion.
Topic 1: 2nd 2 hours Inform students
Basic Concepts 1. Buy notes.
Tutorial 1
Basic Concepts 2. Bring laptop and ear piece
for the first tutorial lesson.
2 Topic 2: 1st 2 hours
25 – 29 Oct Demand Tutorial 2
Demand
Topic 3: Supply 2nd 2 hours
Tutorial 3
Supply
3 Topic 4: 1st 2 hours
1-5 Nov Market
(PH - Thursday, Tutorial 4
Equilibrium
4 Nov) Market Equilibrium 1
Deepavali
2nd 2 hours
Tutorial 5
Market Equilibrium 2
4 Topic 5: 1st 2 hours
8 – 12 Nov Elasticity Tutorial 6
Elasticity
Topic 6: 2nd 2 hours
Production & Tutorial 7
Costs Production

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5 1. Grouping for CA2

Topic 6: 1st 2 hours
15 – 19 Nov assignment.
Production & Tutorial 8 3. CA2 assignment will be
Costs Costs published on MST week.
Topic 7: 2nd 2 hours
Market Tutorial 9
Structures Market Structures
6 Topic 8: Profit 1st 2 hours
22 – 26 Nov Maximisation Tutorial 10
and Shutdown Profit
Condition Maximisation
2nd 2 hours
Tutorial 11
Unemployment

7 Topic 9: 1st 2 hours

29 Nov – 3 Dec Unemployment Tutorial 12
and Inflation Inflation

2nd 2 hours
Mid-Semester Test
(MST) Revision

8 MST – Written Test

6 – 10 Dec MID SEMESTER CA2 assignment published in
-
(End of Term 3) TEST WEEK Blackboard (week 8 folder).
VACATION : 3 Weeks (Week 9 – 11)
11 Dec 2021 – 2 Jan 2022
Term 4 Topic 10: Gross 1st 2 hours
(7 weeks) Domestic
12 Tutorial 13
Product &
3 – 7 Jan GDP
Business Cycle
2nd 2 hours
Tutorial 14
Business Cycle

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13 1. Submit CA2 assignment.

Topic 11: 1st 2 hours
10 – 14 Jan 2. Do peer evaluation in class.
Aggregate Catch-up tutorial
Demand & session (buffer)
Supply curves
2nd 2 hours
Tutorial 15
ADAS

14 Topic 12: 1nd 2 hours

17 – 21 Jan Fiscal Policy Tutorial 16
Fiscal Policy 1
1nd 2 hours
Tutorial 17
Fiscal Policy 2
15 Topic 13: 1st 2 hours
24 – 28 Jan Monetary Policy Tutorial 18
Monetary Policy 1
2nd 2 hours
Tutorial 19
Monetary Policy 2
16 Topic 14: 1st 2 hours
31 Jan – 4 Feb
International
(PH – Tuesday & Tutorial 20
Trade & Finance
Wednesday, International Trade
1 & 2 Feb, CNY)
2nd 2 hours
Tutorial 21
International
Finance
17 Review past year
Revise lecture
7 – 11 Feb paper + Make up if Revision week
videos
necessary
18 BlackBoard quizzes due on 13
14 – 18 Feb Feb, 11.59 PM. The scores will
Study Week Study Week
be downloaded on 15 Feb at
8 am.
21 Feb – 4 Mar
EXAM EXAM

VACATION : 6 Weeks
(5 Mar – 17 Apr 2022)

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Assessment

The assessment for Economics consists of two course assessments (CAs), semester
examination and class participation (PM). The weightage and format are as follows:

Test Weightage Format

Mid-Semester Test 20% 15 Multiple Choice Questions = 30 marks
(MST) (Term 3) 2 Short Answer Questions = 20 marks
One hour 50 marks

CA2 (Term 4) 25% Assignment = 50 marks

Semester Exam 40% 10 Multiple Choice Questions = 20 marks

2 hours 4 Short Answer Questions = 80 marks
100 marks

Class Participation 15% Preparation of tutorial

(PM) Participation in class
Participation in e-learning
Total 100%

5. Resource Material

5.1 Text

Economics: 22nd Edition by Campbell R. McConnell, Stanley L. Brue & Sean M. Flynn,
McGraw-Hill Irwin, 2021 (SmartBook)

Economics: 19th Edition by Campbell R. McConnell, Stanley L. Brue & Sean M. Flynn,
McGraw-Hill Irwin, 2012 (compiled by SP Business School) (available in SP library).

5.2 References

The following references are available in the library.

Singapore Polytechnic School of Business, Economics, Pearson Publishing, 2009.

Principles of Economics: An Asian Edition by N. Gregory Mankiw, Euston Quah, Peter

Wilson