EFB338 Contemporary Application of Economic Theory
To view more information for this unit, select Unit Outline from the list below. Please note the teaching period for which the Unit Outline is relevant.
| Unit code: | EFB338 |
|---|---|
| Prerequisite(s): | (Completion of 168 credit points) and (EFB222, EFB228 & EFB229) or (EFB330 & EFB331) |
| Equivalent(s): | EFB329, EFX338 |
| Assumed Knowledge: | This unit is the capstone unit for the Economics primary major and is designed to be completed in the final year of study. |
| Credit points: | 12 |
| Timetable | Details in HiQ, if available |
| Availabilities |
|
| CSP student contribution | $2,174 |
| Pre-2021 CSP student contribution | $1,703 The pre-2021 commonwealth supported place (CSP) contribution amount only applies to students enrolled in a course prior to 2021. To learn more, visit our Understanding your fees page. |
| Domestic tuition unit fee | $3,456 |
| International unit fee | $5,640 |
Unit Outline: Semester 2 2026, Gardens Point, Internal
| Unit code: | EFB338 |
|---|---|
| Credit points: | 12 |
| Pre-requisite: | (Completion of 168 credit points) and (EFB222, EFB228 & EFB229) or (EFB330 & EFB331) |
| Equivalent: | EFB329, EFX338 |
| Assumed Knowledge: | This unit is the capstone unit for the Economics primary major and is designed to be completed in the final year of study. |
| Coordinator: | Radhika Lahiri | r.lahiri@qut.edu.au |
Overview
Working as an economist in the real world requires the ability to research and apply economic solutions to often complex problems. This capstone unit is designed to consolidate your studies in economics through the application of a variety of economic concepts, theories, and empirical methods to current public policy issues. You will develop an analytical framework to tackle major economic issues and practise the practical application of a variety of economic approaches to analyse problems facing Australian and international economies and develop policy options with consideration for diverse perspectives, ethical principles and socially responsible behaviour. You will develop the ability to summarise, evaluate and criticise research findings, and learn how research in economics evolves, preparing you for employment as economists in government, business – in particular consulting - and in the not-for profit sector.
Learning Outcomes
On successful completion of this unit you will be able to:
- Synthesize and apply microeconomic and macroeconomic theory to diagnose, model and evaluate complex contemporary policy problems. [HO 2.1, SE 5.2]
- Design and conduct independent economic policy analysis integrating empirical evidence, data sources and ethical considerations to formulate defensible, evidence-based policy recommendations. [KS 1.2, HO 2.2, SE 5.1]
- Communicate and defend complex economic analysis and policy recommendations in professional written and oral formats tailored to policy and industry stakeholders. [PC 3.1, 3.2]
- Collaborate effectively as an economics team to integrate diverse analytical perspectives and critically reflect on professional practice and contribution. [TS 4.1, 4.2]
Content
The content in this unit comprises microeconomic and macroeconomic theories, policy issues and real world applications, and covers:
- public policy and economic approaches,
- a review of economic methods relevant to current policy issues for which options for solutions are of current interest,
- a structured approach to report on policy problems, policy options and their evaluation.
Current economic research topics, trends and policies are explored including welfare analysis, taxation, productivity growth, and climate change
QUT Business Capabilities (Undergraduate)
The content and assessment in this unit are aligned to a selection of the following set of QUT Business Capabilities, also known as Assurance of Learning Goals (AoLs). Developing these capabilities will assist you to meet the desired graduate outcomes set at QUT and equip you with the knowledge and skills to succeed in your chosen career.
Knowledge and Technological Skills (KS)
1.1 Demonstrate and apply integrated discipline (including technical) knowledge across the broad field of business with depth in one or more core business disciplines.
1.2 Apply technical and technological skills appropriate and effective for real world business purposes and contexts.
Higher Order Thinking (HO)
2.1 Investigate real world business issues and situations through the effective analysis, evaluation and synthesis of theory and practice.
2.2 Exercise independent judgement and initiative in adapting and applying knowledge and skills for effective planning, problem solving and decision making in diverse contexts.
Professional Communication (PC)
3.1 Use information literacy skills, and communicate effectively and professionally in written forms and using media appropriate for diverse purposes and contexts.
3.2 Use information literacy skills, and communicate effectively and professionally in oral forms, appropriate for diverse purposes and contexts.
Teamwork and Self (TS)
4.1 Exercise self-reflection, responsibility and accountability in relation to own learning and professional practice.
4.2 Apply teamwork knowledge and skills for effective collaboration across diverse purposes and contexts.
Social, Ethical and Global Understanding (SE)
5.1 Demonstrate and apply knowledge of ethical and legal principles and practices in analysing and responding to business issues.
5.2 Demonstrate and apply knowledge of socially responsible behaviour in analysing and addressing business issues in national and international business contexts.
Learning Approaches
The semester will comprise a series of lectures augmented with workshops and online learning material to cover relevant content and support progress on the project report. Weeks 7-9 will use lectures and tutorials to support for assessments that are due in Week 7 (Assessment 1) and subsequent weeks (Assessments 2 and 3). Regular in-person and online tutorials provide guidance to prepare for assessments.
Feedback on Learning and Assessment
Students will receive feedback in various forms throughout the semester which may include:
- Informal: worked examples, such as verbal feedback in class, personal consultation
- Formal: in writing, such as checklists (e.g. criteria sheets), written commentary
- Direct: to individual students, either in written form or in consultation
- Indirect: to the whole class
Assessment
Overview
The assessment in this unit aims to support your achievement of the unit learning outcomes and course assurance of learning goals. The assessment has been designed in order to allow you to:
- receive feedback on your learning as you progress toward the development of knowledge, understanding, skills and attitudes (formative assessment);
- demonstrate your learning in order to achieve a final grade (summative assessment).
Unit Grading Scheme
7- point scale
Assessment Tasks
Assessment: Report
Acting as a group of economists, you will select and define an economics policy problem, and write an individual report on policy options informed by economic theory, literature or empirical analysis.
The group will later synthesize their findings for an oral presentation (i.e. Assessment 2).
The ethical and responsible use of generative artificial intelligence (GenAI) tools is authorised in this assessment. See the relevant assessment details in Canvas for specific guidelines.
This assignment is eligible for the 48-hour late submission period and assignment extensions.
Formative or Summative: Formative and Summative
Business Capabilities (AoL goals): KS (1.2), HO (2.1), PC (3.1), SE (5.1), SE (5.2)
Assessment: Oral Presentation
Acting as economists you will present your analysis and key recommendations from your policy report (i.e., Assessment 1) in response to a real world economics policy problem.
The ethical and responsible use of generative artificial intelligence (GenAI) tools is authorised in this assessment. See the relevant assessment details in Canvas for specific guidelines.
This assessment item is based on teamwork and provides evidence of achievement of associated Unit Learning Outcomes and Course Learning Outcomes. Individual submissions/presentations will not be accepted.
This assessment item requires your attendance at your scheduled session.
This assessment item is Verified Identity Assessment. Requirements are provided on the Unit Canvas site.
The late submission period does not apply, and no assignment extensions are available.
Formative or Summative: Formative and Summative
Business Capabilities (AoL goals): HO (2.2), PC (3.2)
Assessment: Reflective Essay
You will be asked to reflect on you individual learning journey as well as the group experience.
The ethical and responsible use of generative artificial intelligence (GenAI) tools is authorised in this assessment. See the relevant assessment details in Canvas for specific guidelines.
This assignment is eligible for the 48-hour late submission period and assignment extensions.
Formative or Summative: Formative and Summative
Business Capabilities (AoL goals): TS (4.1, 4.2)
Academic Integrity
Academic integrity is a commitment to undertaking academic work and assessment in a manner that is ethical, fair, honest, respectful and accountable.
The Academic Integrity Policy sets out the range of conduct that can be a failure to maintain the standards of academic integrity. This includes, cheating in exams, plagiarism, self-plagiarism, collusion and contract cheating. It also includes providing fraudulent or altered documentation in support of an academic concession application, for example an assignment extension or a deferred exam.
You are encouraged to make use of QUT’s learning support services, resources and tools to assure the academic integrity of your assessment. This includes the use of text matching software that may be available to assist with self-assessing your academic integrity as part of the assessment submission process.
Breaching QUT’s Academic Integrity Policy or engaging in conduct that may defeat or compromise the purpose of assessment can lead to a finding of student misconduct (Code of Conduct – Student) and result in the imposition of penalties under the Management of Student Misconduct Policy, ranging from a grade reduction to exclusion from QUT.
Resources
Resource Materials
Other
No prescribed text; see Canvas site for curated resources.
Risk Assessment Statement
There are no out-of-the-ordinary risks associated with lectures or tutorials in this unit.
Standards/Competencies
This unit is designed to support your development of the following standards\competencies.
QUT Business Capabilities (Undergraduate)
HO (2.1): Critical Analysis
HO (2.2): Independent Judgement and Decision-Making
Relates to: ULO2, Oral Presentation
KS (1.2): Technical and Technological Skills
PC (3.1): Professional Communication (Written)
PC (3.2): Professional Communication (Oral)
Relates to: ULO3, Oral Presentation
SE (5.1): Ethical and Legal Understanding
SE (5.2): Global Social Responsibility
TS (4.1): Self-Reflection and Accountability
Relates to: ULO4, Reflective Essay
TS (4.2): Teamwork Knowledge and Skills
Relates to: ULO4, Reflective Essay
Course Learning Outcomes
This unit is designed to support your development of the following course/study area learning outcomes.BS05 Bachelor of Business
- Demonstrate and apply knowledge of socially responsible behaviour in analysing and addressing business issues in national and international business contexts.
Relates to: ULO1, Report - Apply technical and technological skills appropriate and effective for real world business purposes and contexts.
Relates to: ULO2, Report - Investigate real world business issues and situations through the effective analysis, evaluation and synthesis of theory and practice.
Relates to: ULO1, Report - Exercise independent judgement and initiative in adapting and applying knowledge and skills for effective planning, problem solving and decision making in diverse contexts.
Relates to: ULO2, Oral Presentation - Use information literacy skills, and communicate effectively and professionally in written forms and using media appropriate for diverse purposes and contexts.
Relates to: ULO3, Report - Use information literacy skills, and communicate effectively and professionally in oral forms, appropriate for diverse purposes and contexts.
Relates to: ULO3, Oral Presentation - Exercise self-reflection, responsibility and accountability in relation to own learning and professional practice.
Relates to: ULO4, Reflective Essay - Apply teamwork knowledge and skills for effective collaboration across diverse purposes and contexts.
Relates to: ULO4, Reflective Essay - Demonstrate and apply knowledge of ethical and legal principles and practices in analysing and responding to business issues.
Relates to: ULO2, Report
BS08 Bachelor of Business - International
- Demonstrate and apply knowledge of socially responsible behaviour in analysing and addressing business issues in national and international business contexts.
Relates to: ULO1, Report - Apply technical and technological skills appropriate and effective for real world business purposes and contexts.
Relates to: ULO2, Report - Investigate real world business issues and situations through the effective analysis, evaluation and synthesis of theory and practice.
Relates to: ULO1, Report - Exercise independent judgement and initiative in adapting and applying knowledge and skills for effective planning, problem solving and decision making in diverse contexts.
Relates to: ULO2, Oral Presentation - Use information literacy skills, and communicate effectively and professionally in written forms and using media appropriate for diverse purposes and contexts.
Relates to: ULO3, Report - Use information literacy skills, and communicate effectively and professionally in oral forms, appropriate for diverse purposes and contexts.
Relates to: ULO3, Oral Presentation - Exercise self-reflection, responsibility and accountability in relation to own learning and professional practice.
Relates to: ULO4, Reflective Essay - Apply teamwork knowledge and skills for effective collaboration across diverse purposes and contexts.
Relates to: ULO4, Reflective Essay - Demonstrate and apply knowledge of ethical and legal principles and practices in analysing and responding to business issues.
Relates to: ULO2, Report
Unit Outline: Semester 2 2026, Online
| Unit code: | EFB338 |
|---|---|
| Credit points: | 12 |
| Pre-requisite: | (Completion of 168 credit points) and (EFB222, EFB228 & EFB229) or (EFB330 & EFB331) |
| Equivalent: | EFB329, EFX338 |
| Assumed Knowledge: | This unit is the capstone unit for the Economics primary major and is designed to be completed in the final year of study. |
Overview
Working as an economist in the real world requires the ability to research and apply economic solutions to often complex problems. This capstone unit is designed to consolidate your studies in economics through the application of a variety of economic concepts, theories, and empirical methods to current public policy issues. You will develop an analytical framework to tackle major economic issues and practise the practical application of a variety of economic approaches to analyse problems facing Australian and international economies and develop policy options with consideration for diverse perspectives, ethical principles and socially responsible behaviour. You will develop the ability to summarise, evaluate and criticise research findings, and learn how research in economics evolves, preparing you for employment as economists in government, business – in particular consulting - and in the not-for profit sector.
Learning Outcomes
On successful completion of this unit you will be able to:
- Synthesize and apply microeconomic and macroeconomic theory to diagnose, model and evaluate complex contemporary policy problems. [HO 2.1, SE 5.2]
- Design and conduct independent economic policy analysis integrating empirical evidence, data sources and ethical considerations to formulate defensible, evidence-based policy recommendations. [KS 1.2, HO 2.2, SE 5.1]
- Communicate and defend complex economic analysis and policy recommendations in professional written and oral formats tailored to policy and industry stakeholders. [PC 3.1, 3.2]
- Collaborate effectively as an economics team to integrate diverse analytical perspectives and critically reflect on professional practice and contribution. [TS 4.1, 4.2]
Content
The content in this unit comprises microeconomic and macroeconomic theories, policy issues and real world applications, and covers:
- public policy and economic approaches,
- a review of economic methods relevant to current policy issues for which options for solutions are of current interest,
- a structured approach to report on policy problems, policy options and their evaluation.
Current economic research topics, trends and policies are explored including welfare analysis, taxation, productivity growth, and climate change
QUT Business Capabilities (Undergraduate)
The content and assessment in this unit are aligned to a selection of the following set of QUT Business Capabilities, also known as Assurance of Learning Goals (AoLs). Developing these capabilities will assist you to meet the desired graduate outcomes set at QUT and equip you with the knowledge and skills to succeed in your chosen career.
Knowledge and Technological Skills (KS)
1.1 Demonstrate and apply integrated discipline (including technical) knowledge across the broad field of business with depth in one or more core business disciplines.
1.2 Apply technical and technological skills appropriate and effective for real world business purposes and contexts.
Higher Order Thinking (HO)
2.1 Investigate real world business issues and situations through the effective analysis, evaluation and synthesis of theory and practice.
2.2 Exercise independent judgement and initiative in adapting and applying knowledge and skills for effective planning, problem solving and decision making in diverse contexts.
Professional Communication (PC)
3.1 Use information literacy skills, and communicate effectively and professionally in written forms and using media appropriate for diverse purposes and contexts.
3.2 Use information literacy skills, and communicate effectively and professionally in oral forms, appropriate for diverse purposes and contexts.
Teamwork and Self (TS)
4.1 Exercise self-reflection, responsibility and accountability in relation to own learning and professional practice.
4.2 Apply teamwork knowledge and skills for effective collaboration across diverse purposes and contexts.
Social, Ethical and Global Understanding (SE)
5.1 Demonstrate and apply knowledge of ethical and legal principles and practices in analysing and responding to business issues.
5.2 Demonstrate and apply knowledge of socially responsible behaviour in analysing and addressing business issues in national and international business contexts.
Learning Approaches
The semester will comprise a series of lectures augmented with workshops and online learning material to cover relevant content and support progress on the project report. Weeks 7-9 will use lectures and tutorials to support for assessments that are due in Week 7 (Assessment 1) and subsequent weeks (Assessments 2 and 3). Regular in-person and online tutorials provide guidance to prepare for assessments.
Feedback on Learning and Assessment
Students will receive feedback in various forms throughout the semester which may include:
- Informal: worked examples, such as verbal feedback in class, personal consultation
- Formal: in writing, such as checklists (e.g. criteria sheets), written commentary
- Direct: to individual students, either in written form or in consultation
- Indirect: to the whole class
Assessment
Overview
The assessment in this unit aims to support your achievement of the unit learning outcomes and course assurance of learning goals. The assessment has been designed in order to allow you to:
- receive feedback on your learning as you progress toward the development of knowledge, understanding, skills and attitudes (formative assessment);
- demonstrate your learning in order to achieve a final grade (summative assessment).
Unit Grading Scheme
7- point scale
Assessment Tasks
Assessment: Report
Acting as a group of economists, you will select and define an economics policy problem, and write an individual report on policy options informed by economic theory, literature or empirical analysis.
The group will later synthesize their findings for an oral presentation (i.e. Assessment 2).
The ethical and responsible use of generative artificial intelligence (GenAI) tools is authorised in this assessment. See the relevant assessment details in Canvas for specific guidelines.
This assignment is eligible for the 48-hour late submission period and assignment extensions.
Formative or Summative: Formative and Summative
Business Capabilities (AoL goals): KS (1.2), HO (2.1), PC (3.1), SE (5.1), SE (5.2)
Assessment: Oral Presentation
Acting as economists you will present your analysis and key recommendations from your policy report (i.e., Assessment 1) in response to a real world economics policy problem.
The ethical and responsible use of generative artificial intelligence (GenAI) tools is authorised in this assessment. See the relevant assessment details in Canvas for specific guidelines.
This assessment item is based on teamwork and provides evidence of achievement of associated Unit Learning Outcomes and Course Learning Outcomes. Individual submissions/presentations will not be accepted.
This assessment item requires your attendance at your scheduled session.
This assessment item is Verified Identity Assessment. Requirements are provided on the Unit Canvas site.
The late submission period does not apply, and no assignment extensions are available.
Formative or Summative: Formative and Summative
Business Capabilities (AoL goals): HO (2.2), PC (3.2)
Assessment: Reflective Essay
You will be asked to reflect on you individual learning journey as well as the group experience.
The ethical and responsible use of generative artificial intelligence (GenAI) tools is authorised in this assessment. See the relevant assessment details in Canvas for specific guidelines.
This assignment is eligible for the 48-hour late submission period and assignment extensions.
Formative or Summative: Formative and Summative
Business Capabilities (AoL goals): TS (4.1, 4.2)
Academic Integrity
Academic integrity is a commitment to undertaking academic work and assessment in a manner that is ethical, fair, honest, respectful and accountable.
The Academic Integrity Policy sets out the range of conduct that can be a failure to maintain the standards of academic integrity. This includes, cheating in exams, plagiarism, self-plagiarism, collusion and contract cheating. It also includes providing fraudulent or altered documentation in support of an academic concession application, for example an assignment extension or a deferred exam.
You are encouraged to make use of QUT’s learning support services, resources and tools to assure the academic integrity of your assessment. This includes the use of text matching software that may be available to assist with self-assessing your academic integrity as part of the assessment submission process.
Breaching QUT’s Academic Integrity Policy or engaging in conduct that may defeat or compromise the purpose of assessment can lead to a finding of student misconduct (Code of Conduct – Student) and result in the imposition of penalties under the Management of Student Misconduct Policy, ranging from a grade reduction to exclusion from QUT.
Resources
Resource Materials
Other
No prescribed text; see Canvas site for curated resources.
Risk Assessment Statement
There are no out-of-the-ordinary risks associated with lectures or tutorials in this unit.
Standards/Competencies
This unit is designed to support your development of the following standards\competencies.
QUT Business Capabilities (Undergraduate)
HO (2.1): Critical Analysis
HO (2.2): Independent Judgement and Decision-Making
Relates to: ULO2, Oral Presentation
KS (1.2): Technical and Technological Skills
PC (3.1): Professional Communication (Written)
PC (3.2): Professional Communication (Oral)
Relates to: ULO3, Oral Presentation
SE (5.1): Ethical and Legal Understanding
SE (5.2): Global Social Responsibility
TS (4.1): Self-Reflection and Accountability
Relates to: ULO4, Reflective Essay
TS (4.2): Teamwork Knowledge and Skills
Relates to: ULO4, Reflective Essay
Course Learning Outcomes
This unit is designed to support your development of the following course/study area learning outcomes.BS05 Bachelor of Business
- Demonstrate and apply knowledge of socially responsible behaviour in analysing and addressing business issues in national and international business contexts.
Relates to: ULO1, Report - Apply technical and technological skills appropriate and effective for real world business purposes and contexts.
Relates to: ULO2, Report - Investigate real world business issues and situations through the effective analysis, evaluation and synthesis of theory and practice.
Relates to: ULO1, Report - Exercise independent judgement and initiative in adapting and applying knowledge and skills for effective planning, problem solving and decision making in diverse contexts.
Relates to: ULO2, Oral Presentation - Use information literacy skills, and communicate effectively and professionally in written forms and using media appropriate for diverse purposes and contexts.
Relates to: ULO3, Report - Use information literacy skills, and communicate effectively and professionally in oral forms, appropriate for diverse purposes and contexts.
Relates to: ULO3, Oral Presentation - Exercise self-reflection, responsibility and accountability in relation to own learning and professional practice.
Relates to: ULO4, Reflective Essay - Apply teamwork knowledge and skills for effective collaboration across diverse purposes and contexts.
Relates to: ULO4, Reflective Essay - Demonstrate and apply knowledge of ethical and legal principles and practices in analysing and responding to business issues.
Relates to: ULO2, Report
BS08 Bachelor of Business - International
- Demonstrate and apply knowledge of socially responsible behaviour in analysing and addressing business issues in national and international business contexts.
Relates to: ULO1, Report - Apply technical and technological skills appropriate and effective for real world business purposes and contexts.
Relates to: ULO2, Report - Investigate real world business issues and situations through the effective analysis, evaluation and synthesis of theory and practice.
Relates to: ULO1, Report - Exercise independent judgement and initiative in adapting and applying knowledge and skills for effective planning, problem solving and decision making in diverse contexts.
Relates to: ULO2, Oral Presentation - Use information literacy skills, and communicate effectively and professionally in written forms and using media appropriate for diverse purposes and contexts.
Relates to: ULO3, Report - Use information literacy skills, and communicate effectively and professionally in oral forms, appropriate for diverse purposes and contexts.
Relates to: ULO3, Oral Presentation - Exercise self-reflection, responsibility and accountability in relation to own learning and professional practice.
Relates to: ULO4, Reflective Essay - Apply teamwork knowledge and skills for effective collaboration across diverse purposes and contexts.
Relates to: ULO4, Reflective Essay - Demonstrate and apply knowledge of ethical and legal principles and practices in analysing and responding to business issues.
Relates to: ULO2, Report