GSQ005 Micro & Macro Economics
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: | GSQ005 |
|---|---|
| Antirequisite(s): | GSN491, GSZ491 |
| Credit points: | 12 |
| Timetable | Details in HiQ, if available |
| Availabilities |
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| 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 | $4,992 |
Unit Outline: Session 3 2026, QUT Online, Online
| Unit code: | GSQ005 |
|---|---|
| Credit points: | 12 |
| Anti-requisite: | GSZ/N491 |
| Coordinator: | Tommy Tang | tt.tang@qut.edu.au |
Overview
To make sound decisions, business leaders and managers require an understanding of the economic forces that shape the domestic and global business environments. This unit provides fundamental economic concepts and analytical frameworks needed to understand how markets operate, how government policies and global events determine business environments at both the micro and macro levels, and how to respond to ever-changing market conditions that affect business performance. In doing so, it also considers the economic dimensions of sustainability—equipping students to evaluate trade-offs, assess long-term impacts, and make informed decisions that support both financial and environmental resilience.
Learning Outcomes
On successful completion of this unit you will be able to:
- Apply economic concepts/theories to explain behaviours of consumers and producers, understand working of the economy, and micro and macroeconomic issues in the global context. KS 1.1, HO 2.1
- Read, interpret and synthesise complex economic data. HO 2.1
- Critically analyse and evaluate real world economic, social and public issues to inform business decision making. HO 2.1, SEC 5.2
- Apply critical thinking to a variety of economic settings and professionally communicate the findings orally and in writing to stakeholders. HO 2.1, HO 2.2, PC 3.1, PC3.2
Content
The unit has been designed to facilitate the development of general, transferable analytical skills and competencies in analysis of business, social and public issues.
Topics include:
- The economic way of thinking
- Microeconomic fundamentals
- The price system
- Market structure
- Macroeconomic fundamentals
- Business cycles, unemployment and inflation
- Fiscal and monetary policies
- The international economy
- Sustainable economic decision-making
Course Learning Outcomes (Postgraduate - Executive)
The Graduate School of Business has established the Assurance of Learning (AoL) Goals to meet contemporary industry needs and standards. Achieving these learning outcomes will assist you to meet the desired graduate outcomes set at QUT - aligned with other internationally renowned business schools. Students will develop the following Business capabilities relevant to a contemporary global and sustainable business environment:
Knowledge and Technological Skills (KS)
1.1 Demonstrate and apply integrated and advanced theoretical and practical knowledge (including systems thinking approaches, multidisciplinary frameworks, and knowledge of research principles and methods) that incorporate recent development in business disciplines, professional practice, and digital innovation.
1.2 Apply advanced technical and technological knowledge and skills from a range of business disciplines to critically reflect on, evaluate and contribute to developments that enhance innovative, sustainable, effective, and transformational business performance in local, national, global, and virtual business environments.
Higher Order Thinking (HO)
2.1 Provide evidence of effective analysis, interpretation, evaluation and synthesis of complex data, theories, ideas, issues, situations, and trends across multiple contexts and demonstrate knowledge of how research and inquiry can be used to interpret, contribute to and create theoretical and practical knowledge.
2.2 Provide evidence of higher order thinking including creativity, judgement, cognitive flexibility and critical reflection in designing, planning and implementing transdisciplinary digital strategies and solutions for effective performance in complex digital business environments.
Professional Communication (PC)
3.1 Demonstrate advanced use of language and argumentation in written communication, including digital communication, to frame strategic and influential responses to engage, persuade, negotiate, collaborate, lead, and transform in diverse and complex contexts (both physical and digital) and for diverse audiences.
3.2 Demonstrate advanced use of language and argumentation in oral communication, including digital communication, to frame strategic and influential responses to engage, persuade, negotiate, collaborate and lead across diverse and complex contexts (both physical and digital) and for diverse audiences.
Self and Leadership (SL)
4.1 Demonstrate adaptive personal leadership and accountability, including self-awareness, reflective practice, and foresight in adapting and applying knowledge and skills to inform and influence effective, responsible, innovative and agile practice in contemporary complex digital environments.
4.2 Lead, manage and foster the development of collaborative teams that value and leverage the diverse knowledge and skills of others to contribute to the development of adaptable, transformative, and sustainable courses of action in complex contemporary environments.
Social, Ethical and Cultural Understanding (SEC)
5.1 Demonstrate and apply knowledge of ethical and legal principles and practices of business, to contribute to responsible organisational governance and citizenship in local, national, global, and virtual business environments.
5.2 Apply knowledge and skills to demonstrate, interpret and critically reflect on, appropriate culturally, socially and ecologically inclusive and responsible decisions and actions across complex, diverse social and cultural contexts.
Learning Approaches
In this fully online unit, asynchronous delivery will offer flexible, on-demand learning that supports diverse student needs, particularly those balancing study with professional or personal commitments.
Key components include pre-recorded mini-lectures or explainer videos on core topics such as leadership frameworks or financial analysis, discussion board activities that promote dialogue on curated themes, and self-paced case study analyses that encourage independent thinking and application of concepts. This approach allows students to engage deeply with materials at their own pace, revisit complex ideas as needed, and develop critical reflection skills. While learning is self-directed, students are supported through regular tutor interactions, opportunities for formative feedback, and ongoing engagement in discussion forums. This blend of flexibility and support fosters both academic development and a strong connection to the learning community.
Students are expected to work independently through carefully prepared curated resources in the form of asynchronous modules. These activities in these modules may include:
- Online discussions
- Readings
- Learning activities
- Digital practices for creating professional resources.
You are responsible for your academic progression through this unit. Unit staff will provide a learning environment designed to maximise your learning experience. To realise your full potential, it is strongly recommended that you actively participate in all the learning activities offered in this unit. You should expect to spend on average 15 hours per week, attending scheduled classes, working through asynchronous modules, preparing for and completing assessment tasks as well as in independent study to consolidate your learning.
Feedback on Learning and Assessment
Students will receive a variety of formative feedback throughout this unit.
Informally, feedback will be given verbally in class through class discussions and during the debriefing of learning activities.
Direct feedback will be available to those students who request a private or group consultation session with the lecturer.
Formal feedback will be received on both formative and summative assessment tasks through a Criterion Reference Assessment sheet which will also include written feedback on the assessment task. The Criterion Reference Assessment Sheet will be available in the unit Canvas site at the commencement of the unit. Students will receive feedback on their formative assessment task prior to their summative assessment task being submitted.
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).
Students submit their assessments online via Canvas unit site.
Gen AI tools may be used ethically and responsibly. Students may use generative artificial intelligence (GenAI) tools to prepare for, generate and refine content for this assessment task. AI-generated content may be inaccurate, unreliable, or biased. It is each student's responsibility to critically evaluate any information used.Students must clearly acknowledge and appropriately reference any AI-generated content following the guidance in Cite | Write
Unit Grading Scheme
7- point scale
Assessment Tasks
Assessment: Oral Presentation
Each team is to critically analyse a topical economic issue and present their findings via a narrated slide show.
Postgraduate (AoL goals): KS 1.1, HO 2.1, 2.2, PC 3.1. 3.2, SEC 5.2
If a group member is approved for an academic concession under QUT’s Student Academic Concessions Policy, the concession applies only to that student. The unit coordinator will determine appropriate adjustments to ensure fair assessment for all group members.
Assessment: Essay Assignment
Students are to critically apply economic thinking to examine and evaluate a macroeconomic topic of social and political interest.
Postgraduate (AoL goals): KS 1.1, HO 2.1, 2.2, PC 3.1. 3.2, SEC 5.2
This assignment is eligible for the 48-hour late submission period and assignment extensions.
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
Resources to support your learning including contemporary industry and academic journal articles, podcasts, and videos will be provided.
Risk Assessment Statement
There are no out-of-the-ordinary risks associated with lectures or tutorials in this unit.
Course Learning Outcomes
This unit is designed to support your development of the following course/study area learning outcomes.GQ51 Master of Business Administration
- Demonstrate and apply integrated and advanced theoretical and practical knowledge (including systems thinking approaches, multidisciplinary frameworks, and knowledge of research principles and methods) that incorporate recent development in business disciplines, professional practice, and digital innovation.
Relates to: Oral Presentation, Essay Assignment - Provide evidence of effective analysis, interpretation, evaluation and synthesis of complex data, theories, ideas, issues, situations, and trends across multiple contexts and demonstrate knowledge of how research and inquiry can be used to interpret, contribute to and create theoretical and practical knowledge.
Relates to: Oral Presentation, Essay Assignment - Provide evidence of higher order thinking including creativity, judgement, cognitive flexibility and critical reflection in designing, planning and implementing transdisciplinary digital strategies and solutions for effective performance in complex digital business environments.
Relates to: Oral Presentation, Essay Assignment - Demonstrate advanced use of language and argumentation in written communication, including digital communication, to frame strategic and influential responses to engage, persuade, negotiate, collaborate, lead, and transform in diverse and complex contexts (both physical and digital) and for diverse audiences.
Relates to: Oral Presentation, Essay Assignment - Demonstrate advanced use of language and argumentation in oral communication, including digital communication, to frame strategic and influential responses to engage, persuade, negotiate, collaborate and lead across diverse and complex contexts (both physical and digital) and for diverse audiences.
Relates to: Oral Presentation, Essay Assignment - Apply knowledge and skills to demonstrate, interpret and critically reflect on, appropriate culturally, socially and ecologically inclusive and responsible decisions and actions across complex, diverse social and cultural contexts.
Relates to: Oral Presentation, Essay Assignment