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Unit of study_

ECOP1001: Economics as a Social Science

Semester 1, 2023 [Normal day] - Camperdown/Darlington, Sydney

This unit explores different views about the economy, the role of government, policies, and the causes, social and political aspects of economic events. You are introduced to the principal schools of economic thought -Classical, Marxian, Institutional, Neoclassical, Keynesian and Contemporary Political Economy. You will learn to apply these different perspectives to a political economy analysis of contemporary issues like climate change, social protest, the gig economy, wage theft, and global health pandemics. You will study the analytical focus, core concepts and insights of the different schools of economic thought within the context of the historical development of capitalist economies.

Unit details and rules

Unit code ECOP1001
Academic unit Political Economy
Credit points 6
Prohibitions
? 
None
Prerequisites
? 
None
Corequisites
? 
None
Assumed knowledge
? 

None

Available to study abroad and exchange students

Yes

Teaching staff

Coordinator Joe Collins, joe.collins@sydney.edu.au
Type Description Weight Due Length
Assignment Issues paper
250 paper on a current issue analysed from a political economy perspective
15% Week 05
Due date: 24 Mar 2023 at 23:00
250 words
Outcomes assessed: LO1 LO4 LO5 LO7 LO8
Assignment Essay 1
Essay
35% Week 08
Due date: 21 Apr 2023 at 23:00
2250 words
Outcomes assessed: LO1 LO4 LO5 LO7 LO8
Assignment Essay 2
Essay
30% Week 13
Due date: 26 May 2023 at 23:00
2000 words
Outcomes assessed: LO4 LO5 LO6 LO7 LO8
Online task Quiz
10 x multiple choice quizzes
20% Weekly
Due date: 26 May 2023 at 11:33
10 questions per quiz
Outcomes assessed: LO1 LO5 LO3 LO2

Assessment summary

Assessment criteria and grade descriptors are available on Canvas. 

Assessment criteria

The University awards common result grades, set out in the Coursework Policy 2014 (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

 

Distinction

75 - 84

 

Credit

65 - 74

 

Pass

50 - 64

 

Fail

0 - 49

When you don’t meet the learning outcomes of the unit to a satisfactory standard.

For more information see sydney.edu.au/students/guide-to-grades

For more information see guide to grades.

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.

This unit has an exception to the standard University policy or supplementary information has been provided by the unit coordinator. This information is displayed below:

Late penalties are applied in accordance with Faculty policy.

Academic integrity

The Current Student website  provides information on academic integrity and the resources available to all students. The University expects students and staff to act ethically and honestly and will treat all allegations of academic integrity breaches seriously.  

We use similarity detection software to detect potential instances of plagiarism or other forms of academic integrity breach. If such matches indicate evidence of plagiarism or other forms of academic integrity breaches, your teacher is required to report your work for further investigation.

You may only use artificial intelligence and writing assistance tools in assessment tasks if you are permitted to by your unit coordinator, and if you do use them, you must also acknowledge this in your work, either in a footnote or an acknowledgement section.

Studiosity is permitted for postgraduate units unless otherwise indicated by the unit coordinator. The use of this service must be acknowledged in your submission.

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.

WK Topic Learning activity Learning outcomes
Week 01 Real-world economics Lecture (2 hr) LO2 LO3 LO7
Economics before capitalism Lecture (2 hr) LO1 LO5 LO6
Classical political economy? Lecture (2 hr) LO3 LO6 LO7
Historical Materialism Lecture (2 hr) LO1 LO2 LO3 LO7
Neoclassical economics? Lecture (2 hr) LO1 LO2 LO3
Institutional economics: old and new? Lecture (2 hr) LO2 LO3 LO7
What is political economy? Tutorial (1 hr) LO6
Week 02 Why study political economy? Tutorial (1 hr) LO2
Week 03 How is political economy done? Tutorial (1 hr) LO7
Week 04 Political economy before economics? Tutorial (1 hr) LO3
Week 05 What's the difference between value and price? Tutorial (1 hr) LO7
Week 06 Economics after political economy? Tutorial (1 hr) LO1
Week 07 Depression economics Lecture (2 hr) LO1 LO2 LO3
Neoclassical synthesis? Lecture (1 hr) LO1 LO2 LO3 LO8
Economics Imperialism Lecture (1 hr) LO1 LO2 LO3 LO5 LO7
Historical materialism(s) Lecture (2 hr) LO1 LO2 LO3 LO6 LO7
Feminist political economy Lecture (2 hr) LO1 LO2 LO3 LO7
Ecological political economy Lecture (2 hr) LO1 LO2 LO3 LO7
Political economy now! Lecture (2 hr) LO1 LO2 LO3 LO7
Is the economy an instituted process? Tutorial (1 hr) LO5
Week 08 Is the economy more than the sum of its parts? Tutorial (1 hr) LO2
Week 09 How can the value of capital goods be measured? Tutorial (1 hr) LO4
Week 10 Can the 'economic approach' explain all human behaviour? Tutorial (1 hr) LO7
Week 11 What is the role of the state in capitalist society? Tutorial (1 hr) LO3
Week 12 Why is there a gender wage gap? Tutorial (1 hr) LO2
Week 13 What is the relationship between capitalism and climate change? Tutorial (1 hr) LO7

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

The following texts are recommended and all required reading material will be made available on Canvas. 

  • Chang, H-J. 2014. Economics: The User’s Guide, London: Pelican.
  • Chang, H-J. 2011. 23 Things They Don't Tell You About Capitalism, London: Pelican.
  • Stilwell, F. 2013. Political Economy: The Contest of Economic Ideas, 3rd edition, Melbourne: Oxford University Press. 

 

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.

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

  • LO1. Demonstrate literacy in basic economic concepts.
  • LO2. Demonstrate an understanding of the strengths and limitations of basic analytical tools used in economic analysis.
  • LO3. Distinguish the principal schools of economic thought in terms of their historical origins, their political orientation and their contemporary relevance.
  • LO4. Independently gather information from library and other sources.
  • LO5. Apply information collected to construct answers to economic questions.
  • LO6. Explain the connections between different views on economic issues and different schools of economic thought.
  • LO7. Demonstrate the capacity for thinking critically about contemporary political economic issues.
  • LO8. Prepare clearly written arguments about political economic issues.

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
GQ1 GQ2 GQ3 GQ4 GQ5 GQ6 GQ7 GQ8 GQ9

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

This unit has been changed in various ways to address issues raised by students in previous semesters.

More information about this unit can be found on Canvas.

Work, health and safety

There are no specific work, health and safety requirements for this unit.

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.