Outline

Overview

This unit introduces students to the Australian economy, with a strong emphasis on its history. This historical context is used to highlight current aspects of the Australian economy, including population, growth, and inflation. The unit also provides some ways of thinking about how the Australian economy might develop in the future. The unit does not assume any prior knowledge of economics and is designed to be of interest and relevance to both students with and without prior exposure to economics.

Unit details and rules

Academic unit	Economics
Credit points	6
Prerequisites ?	None
Corequisites ?	None
Prohibitions ?	None
Assumed knowledge ?	None
Available to study abroad and exchange students	Yes

Teaching staff

Coordinator	Hugh Harley, hugh.harley@sydney.edu.au

Assessment

The census date for this unit availability is 1 September 2025

Details
Criteria

Type	Description	Weight	Due	Length	Use of AI
Written exam ?	Final exam Paper-based exam: written answers	45%	Formal exam period	2 hours	AI prohibited
Outcomes assessed:
In-person written or creative task	Early Feedback Task Written, closed-book response testing lecture 1/2 content #earlyfeedbacktask	5%	Week 03 Due date: 22 Aug 2025 at 11:00	25 min	AI prohibited
Outcomes assessed:
Written test ?	In-semester test Paper-based test: written answers	20%	Week 08 Due date: 26 Sep 2025 at 11:30	1 hour	AI prohibited
Outcomes assessed:
Written work	Individual assignment Economic policy issue (assignment provided in L7)	20%	Week 11 Due date: 24 Oct 2025 at 23:59	1500 words	AI allowed
Outcomes assessed:
Contribution	Participation Equally weighted to tutorial attendance and contribution to discussion	10%	Weekly	n/a	AI allowed
Outcomes assessed:
= early feedback task ?

Early feedback task

This unit includes an early feedback task, designed to give you feedback prior to the census date for this unit. Details are provided in the Canvas site and your result will be recorded in your Marks page. It is important that you actively engage with this task so that the University can support you to be successful in this unit.

Assessment summary

Detailed information for each assessment can be found on Canvas.

Assessment criteria

The University awards common result grades, set out in the Coursework Policy (Schedule 1).

As a general guide, a High Distinction indicates work of an exceptional standard, a Distinction a very high standard, a Credit a good standard, and a Pass an acceptable standard.

Result name	Mark range	Description
High distinction	85 - 100	A detailed command of the material with a clear and insightful personal interpretation directed specifically to the question.
Distinction	75 - 84	A higher level of achievement than a Credit but not at HD level on all criteria
Credit	65 - 74	A solid understanding of the material well directed to the question with personal interpretation.
Pass	50 - 64	A basic understanding of the material only directed to the question in a general way and with limited personal interpretation.
Fail	0 - 49	When you don’t meet the learning outcomes of the unit to a satisfactory standard.

For more information see guide to grades.

Use of generative artificial intelligence (AI)

You can use generative AI tools for open assessments. Restrictions on AI use apply to secure, supervised assessments used to confirm if students have met specific learning outcomes.

Refer to the assessment table above to see if AI is allowed, for assessments in this unit and check Canvas for full instructions on assessment tasks and AI use.

If you use AI, you must always acknowledge it. Misusing AI may lead to a breach of the Academic Integrity Policy.

Visit the Current Students website for more information on AI in assessments, including details on how to acknowledge its use.

Late submission

In accordance with University policy, these penalties apply when written work is submitted after 11:59pm on the due date:

Deduction of 5% of the maximum mark for each calendar day after the due date.
After ten calendar days late, a mark of zero will be awarded.

Academic integrity

The University expects students to act ethically and honestly and will treat all allegations of academic integrity breaches seriously.

Our website provides information on academic integrity and the resources available to all students. This includes advice on how to avoid common breaches of academic integrity. Ensure that you have completed the Academic Honesty Education Module (AHEM) which is mandatory for all commencing coursework students

Penalties for serious breaches can significantly impact your studies and your career after graduation. It is important that you speak with your unit coordinator if you need help with completing assessments.

Visit the Current Students website for more information on AI in assessments, including details on how to acknowledge its use.

Learning support

Simple extensions

If you encounter a problem submitting your work on time, you may be able to apply for an extension of five calendar days through a simple extension.  The application process will be different depending on the type of assessment and extensions cannot be granted for some assessment types like exams.

Special consideration

If exceptional circumstances mean you can’t complete an assessment, you need consideration for a longer period of time, or if you have essential commitments which impact your performance in an assessment, you may be eligible for special consideration or special arrangements.

Special consideration applications will not be affected by a simple extension application.

Using AI responsibly

Co-created with students, AI in Education includes lots of helpful examples of how students use generative AI tools to support their learning. It explains how generative AI works, the different tools available and how to use them responsibly and productively.

Support for students

The Support for Students Policy reflects the University’s commitment to supporting students in their academic journey and making the University safe for students. It is important that you read and understand this policy so that you are familiar with the range of support services available to you and understand how to engage with them.

The University uses email as its primary source of communication with students who need support under the Support for Students Policy. Make sure you check your University email regularly and respond to any communications received from the University.

Learning resources and detailed information about weekly assessment and learning activities can be accessed via Canvas. It is essential that you visit your unit of study Canvas site to ensure you are up to date with all of your tasks.

If you are having difficulties completing your studies, or are feeling unsure about your progress, we are here to help. You can access the support services offered by the University at any time:

Support and Services (including health and wellbeing services, financial support and learning support)
Course planning and administration
Meet with an Academic Adviser

Weekly schedule

WK	Topic	Learning activity
Week 01	Introduction to the Australian Economy. Key concepts and measures: population, GDP, and productivity	Lecture (2 hr)
Week 02	Key concepts and measures: employment and inflation	Lecture (2 hr)
Week 02	Case study on Australian economy/policy	Tutorial (1 hr)
Week 03	Key concepts and measures: finance and trade	Lecture (2 hr)
Week 03	Case study on Australian economy/policy	Tutorial (1 hr)
Week 04	Indigenous and C19th Australian History - Chau Chak Wing Museum	Lecture (2 hr)
Week 04	Case study on Australian economy/policy	Tutorial (1 hr)
Week 05	Summary of Key Measures and Concepts; Introduction to Australian Economic History	Lecture (2 hr)
Week 05	Case study on Australian economy/policy	Tutorial (1 hr)
Week 06	Australian Economic History - Gold to Federation	Lecture (2 hr)
Week 06	Case study on Australian economy/policy	Tutorial (1 hr)
Week 07	Australian Economic History - Federation to WW2	Lecture (2 hr)
Week 07	Case study on Australian economy/policy	Tutorial (1 hr)
Week 08	In-semester test (1 hour) followed by class discussion	Lecture (2 hr)
Week 08	Case study on Australian economy/policy	Tutorial (1 hr)
Week 09	Australian Economic History - Post-war growth and reform	Lecture (2 hr)
Week 09	Case study on Australian economy/policy	Tutorial (1 hr)
Week 10	Australian Economic History - Recent Decades	Lecture (2 hr)
Week 10	Case study on Australian economy/policy	Tutorial (1 hr)
Week 11	Australia today	Lecture (2 hr)
Week 11	Case study on Australian economy/policy	Tutorial (1 hr)
Week 12	Economics as a career option in Australia	Lecture (2 hr)
Week 12	Case study on Australian economy/policy	Tutorial (1 hr)
Week 13	Common themes and future perspectives	Lecture (2 hr)
Week 13	Case study on Australian economy/policy	Tutorial (1 hr)

Attendance and class requirements

Attendance: According to Faculty Board Resolutions, students in the Faculty of Arts and Social Sciences are expected to attend 90% of their classes. If you attend less than 50% of classes, regardless of the reasons, you may be referred to the Examiner’s Board. The Examiner’s Board will decide whether you should pass or fail the unit of study if your attendance falls below this threshold.
Preparation: Students should commit to spend approximately three hours’ preparation time (reading, studying, homework, essays, etc.) for every hour of scheduled instruction.

Study commitment

Typically, there is a minimum expectation of 1.5-2 hours of student effort per week per credit point for units of study offered over a full semester. For a 6 credit point unit, this equates to roughly 120-150 hours of student effort in total.

Required readings

Required readings are available on the internet.

Learning outcomes

Learning outcomes are what students know, understand and are able to do on completion of a unit of study. They are aligned with the University's graduate qualities and are assessed as part of the curriculum.

Outcomes
Graduate qualities

At the completion of this unit, you should be able to:

LO1. demonstrate an understanding of the basic principles and tools of economics
LO2. understand Australian economic history and its relevance to Australia’s economic future
LO3. understand the benefits of objects-based learning
LO4. identify critical economic issues facing Australia and analyse them using economic methods
LO5. critically evaluate government policy responses.

Graduate qualities

The graduate qualities are the qualities and skills that all University of Sydney graduates must demonstrate on successful completion of an award course. As a future Sydney graduate, the set of qualities have been designed to equip you for the contemporary world.

GQ1	Depth of disciplinary expertise Deep disciplinary expertise is the ability to integrate and rigorously apply knowledge, understanding and skills of a recognised discipline defined by scholarly activity, as well as familiarity with evolving practice of the discipline.
GQ2	Critical thinking and problem solving Critical thinking and problem solving are the questioning of ideas, evidence and assumptions in order to propose and evaluate hypotheses or alternative arguments before formulating a conclusion or a solution to an identified problem.
GQ3	Oral and written communication Effective communication, in both oral and written form, is the clear exchange of meaning in a manner that is appropriate to audience and context.
GQ4	Information and digital literacy Information and digital literacy is the ability to locate, interpret, evaluate, manage, adapt, integrate, create and convey information using appropriate resources, tools and strategies.
GQ5	Inventiveness Generating novel ideas and solutions.
GQ6	Cultural competence Cultural Competence is the ability to actively, ethically, respectfully, and successfully engage across and between cultures. In the Australian context, this includes and celebrates Aboriginal and Torres Strait Islander cultures, knowledge systems, and a mature understanding of contemporary issues.
GQ7	Interdisciplinary effectiveness Interdisciplinary effectiveness is the integration and synthesis of multiple viewpoints and practices, working effectively across disciplinary boundaries.
GQ8	Integrated professional, ethical, and personal identity An integrated professional, ethical and personal identity is understanding the interaction between one’s personal and professional selves in an ethical context.
GQ9	Influence Engaging others in a process, idea or vision.

Outcome map

Learning outcomes	Graduate qualities
Learning outcomes

Responding to student feedback

This section outlines changes made to this unit following staff and student reviews.

Key feedback from 2024 was a desire to continue the focus on post-WW2 Australian history and this year's syllabus reflects that. It also extends the very successful input from the Chau Chak Wing Museum in 2023 and 2024, which also received excellent feedback.

Additional information

School of Economics Student Portal

Disclaimer

The University reserves the right to amend units of study or no longer offer certain units, including where there are low enrolment numbers.

To help you understand common terms that we use at the University, we offer an online glossary.

Current students

Overview

Overview

Unit details and rules

Teaching staff

Assessment

Assessment

Early feedback task

Assessment summary

Assessment criteria

Use of generative artificial intelligence (AI)

Late submission

Academic integrity

Learning support

Learning support

Simple extensions

Special consideration

Using AI responsibly

Support for students

Weekly schedule

Weekly schedule

Attendance and class requirements

Study commitment

Required readings

Learning outcomes

Learning outcomes

Graduate qualities

Outcome map

Responding to student feedback

Responding to student feedback

Additional information

Additional information

Disclaimer

On this page

Useful links

ECON1005: The Australian Economy

Semester 2, 2025 [Normal day] - Camperdown/Darlington, Sydney

Overview

Overview

Unit details and rules

Teaching staff

Assessment

Assessment

Early feedback task

Assessment summary

Assessment criteria

Use of generative artificial intelligence (AI)

Late submission

Academic integrity

Learning support

Learning support

Simple extensions

Special consideration

Using AI responsibly

Support for students

Weekly schedule

Weekly schedule

Attendance and class requirements

Study commitment

Required readings

Learning outcomes

Learning outcomes

Graduate qualities

Outcome map

Responding to student feedback

Responding to student feedback

Additional information

Additional information

Disclaimer

On this page

Useful links