FACULTY OF HIGHER EDUCATION
Holmes Institute Faculty of Higher Education offers business, creativity and ICT courses that combine discipline- based excellence with practical application. The faculty operates on campuses in Melbourne, Sydney, Brisbane and Hong Kong.
The faculty offers a Bachelor of Business, Bachelor of Professional Accounting, Bachelor of Fashion Business, Bachelor of Information Systems; Graduate Diploma in Business, Master of Business Administration and a Master of Professional Accounting.
Details about the members of the faculty can be found on the homepage of the Faculty of Higher Education at www.holmes.edu.au/undergraduate.
At Holmes Institute, the degree programs offer domestic and international students the opportunity to study a set of contemporary subjects in the field of business, creativity and ICT. These units prepare students for the challenges in business environments of the 21st century. These programs emphasize the global and cross-cultural dimensions of business. Teaching utilizes a combination of delivery methods and includes critical analysis and case study methods. A combination of exams, case studies and company analysis are used in assessment.
The Bachelors’ programs of Holmes Institute focus on:
The degree programs of Holmes Institute focus on the following:
a) Critical and Creative Thinking
c) Cooperation and Teamwork
d) Digital Literacy
e) International Perspective
f) Knowledge and Lifelong Learning
g) Social Responsibility and Community Engagement
Welcome from the Subject Coordinator: Mr. Jas Paul Chawla
This course introduces you to the basic tools and theories of Economic. By studying economics you would enhance your understanding of general business environment, how consumer decides about their choices, demand and supply concept, many more micro level issues and macro level problems in front of the country like inflation, interest rate, unemployment, Gross domestic product (GDP), growth rate of the country and International trade. The topics covered in this Unit are designed to introduce you to the building blocks for economic analysis, and, in the process, to demonstrate the fundamental operation of the economic system.
Our purpose is to build a body of core knowledge in Economics and provide you with greater analytical skills that you will be able to apply in real life work situation and also for further studies in business and management.
Graduates will be able to, evaluate theoretical and practical knowledge of Economics and International Trade.
Demonstrate the use of the basic tools and theories of economic analysis for applications in industry; Analyse and evaluate the forces that effect the economic wellbeing of consumers, producers and the community in the market system;
Show understanding of the principles and practice of economic theory applied to the Australian business environment; Show understanding of the principles and practice of macroeconomic theory applied to the development of Australia’s international trade.
Graduates will be able to, analyze economic issues facing the country and the industries. Students will be able to appreciate core concepts like Scarcity of resources, Production Possibility Frontier, Elasticity, factors affecting Demand and Supply, Costs of production and GDP and Economic growth. They will be able to develop conceptual, analytical, problem solving, decision making and research skills;
Application of Knowledge and skills
Graduates will be able to, apply theoretical and practical knowledge of economics in the diagnosis of issues related to organizations and countries and the formulation of appropriate economic solutions and economic policies.
Students will demonstrate research skills, showing initiative in consulting the academic literature and integrating fresh ideas into the discourse in preparation for life-long learning.
Students will demonstrate the capacity to write persuasive essays and reports containing sound recommendations, in preparation for their career in business.
Students please note:
Holmes Institute provides each student with a Holmes webmail. Faculty and Administrative staff can only communicate with you using your Holmes Institute mail address. Emails from private and/or business email accounts cannot be used and may not be answered.
Please check with your lecturer
For subjects for which a class test is part of the assessments, you need to follow the instructions by your lecturer to confirm any material allowed in the class test. You also need to follow any relevant announcement on Blackboard that confirm the date/time and venue of the class test.
Students must follow the instructions provided on the Blackboard. The assignment must be completed in groups between 4 and 5 students. Only one submission is required per group.
Each trimester concludes with the final examinations that are held during a designated examination period. You are expected to be present for the final examinations, which are held during Examination Week, the exact dates/times and venues are announced via your Blackboard. For each subject you will be allocated a designated seat in one of the examination venues. Your examination venue and seat will be confirmed by the end the teaching period of each trimester via your Blackboard.
Class Test 1 will cover topics 1 to 4. (upto Costs of Production) It will be a total of 25 MCQ’s. Time Allocated will be 1 hour and it will be held as per the advice of your respective Lecturer. It is compulsory to do the Class Test in Week 6
a) Make a group of 4 to 5 people and give your group details (Students ID no, contact number, email Id and your topic) to your lecturer by Week 2. Your lecturer will give you a group No and your group details will be entered on BB. Only 1 submission is required per group. It is compulsory to submit Group Assignment. (2500 words in Report form) Due in Week 10 Fri 5pm
You are required to choose a topic out of the following list:
a) GDP and Economic growth of Australia during last 5 years and analyse Australian Government policy towards this. Which industries have been growing and reasons of this growth?
b) Industry reforms in Agriculture Industry in Australia during last 5 years and its impact on the growth
Demand and Supply of any natural resources in Australia and its impact on Australian Economy.
Prescribed Textbook (compulsory)
J. Jackson, R. McIver and C. Bajada (2012): Economic Principles, 3rd Edition, McGraw-Hill, Sydney.
A calculator is required to do numerical questions during tutorials, class tests and final exam.
To be eligible to pass this subject, you must complete all forms of assessment and demonstrate achievement of the learning outcomes. All assignments must be submitted electronically ONLY using a word processor, uploaded to Blackboard via the Final Check and Submission of SafeAssign.
Submission deadlines are strictly enforced and late submission incurs penalties of 5 (five) % of the assessment value per calendar day unless an extension and/or special consideration has been granted by the lecturer prior to the assessment deadline. Unless an extension and/or special consideration has been granted, no assessments are accepted after 14 calendar days of the due date, or the end of the trimester for assessments due later in a trimester. Students need to allow up to 24 hours for the Final Check of their assignment submission to SafeAssign to be available.
Results, including the final grade, can be viewed via the Grade Centre on Blackboard. Results for all assessments are usually published within two weeks of the due date of the assessment, and the final examination respectively. Students who wish to appeal their mark for any assessment are advised to do so within 14 days of the publication of results (please follow the procedures outlined in the Student Handbook).
Please note that students are eligible to view any of their assessments. For continuous assessments during the teaching period, students need to contact their lecturer immediately after the publication of results. For viewing of the final examination script, students need to complete the respective form (available on your Blackboard) and pay the applicable administrative fee. The form needs to be submitted within 14 days of the publication of the final/overall results. Please note that there is no review/remark option available for any student assessments.
Holmes Institute views any forms of academic misconduct as most serious offences. Academic misconduct in any form, including plagiarism, contract cheating and cheating in a class test or examination, is not tolerated and will be dealt with according to the policies and procedures set out in the Holmes Institute Student Handbook.
Plagiarism occurs when one uses another person’s ideas or manner of expressing them and passes them off as one’s own work by failing to give appropriate acknowledgement (that is, referencing the source). It is important that student reference their work appropriately. The Faculty of Higher Education at Holmes Institute uses the Harvard style of referencing. A detailed guide to referencing can be found in the Student Handbook and Resource Centres. It is expected that you will be familiar with the Harvard style of referencing.
Explanation of Letter Grade
HD Outstanding work which exhibits sophisticated understanding and critical synthesis, analysis and evaluation of the subject matter. While the work utilizes opinions of others, judgements about the value of the subject matter are made and drawn together in an organized whole. Gaps in the subject matter might also be identified and the implications discussed.
D Substantial work of high quality, which demonstrates a clear understanding of the subject matter, in which the relationship between the constituent elements are identified clearly and discussed with some level of critical analysis. The work also applies abstract ideas in concrete situations.
CR Sound and competent work, which demonstrates a reasonable but not complete grasp of the subject matter. The work utilizes recall and paraphrases the work of others concerning the subject matter. Some basic level of critical analysis is evident. Originality in the work is rarely evident.
P Work that demonstrates a satisfactory engagement with the subject matter such that the student is said to have a general understanding of the field. Provides an adequate basis for further study.
NN Did not meet the learning objective of the subject
Holmes Institute uses Blackboard Learn as its online learning platform. All students enrolled have access to Blackboard and it is imperative that students log onto their Blackboard immediately after they enrol for the trimester. Blackboard Learn allows students to view and download their lecture material, grades, important announcements on their subjects and discussion rooms for selected subjects.
Please note that it is the student’s responsibility to check Blackboard on a regular basis. It is expected that students will have viewed lecture materials and additional readings before class. All students are advised to familiarize themselves with the use of Blackboard. Guides to Blackboard are available in the Resource Centre on each campus. Should you have difficulties accessing and/or using Blackboard, please contact your lecturer or the Holmes Institute Blackboard Helpdesk on: firstname.lastname@example.org.
As part of their degree studies, students are expected to engage in additional research. Textbooks and teaching materials available in the Resource Centre will be of use here. In addition, current students have access to a range of electronic academic journals via ProQuest, which is accessible once you log into Blackboard. Holmes Institute also supports students using Google Scholar.
Should you require any assistance with the use of ProQuest and/or online research, please contact your lecturer and/or the Resource Centre staff on your campus.
Students who have difficulties with their studies and/or specific forms of assessment are encouraged to contact their lecturer/tutor, academic mentor or the Student Engagement and Support Coordinator.
Holmes Institute offers regular Academic and Study Skills Workshops throughout the semester, which are useful addressing important academic skills and are free for any student to attend. Students with insufficient academic progress may be required to attend these workshops and sessions with the Academic Progress Team.
Academic and Study Skills Workshops are offered throughout the trimester for essay writing, doing research using ProQuest, giving business presentations, referencing and examination preparations. Announcements are made on your Blackboard and on noticeboards on campus.
Do I need to obtain 50% in each assessment to pass a subject?
NO, in order to pass any subject, you need to meet two requirements, namely achieve an overall mark of 50 or more AND obtain at least 40% of possible marks in the final examination (hurdle or threshold requirement). There is no hurdle or threshold requirement for assessments other than the final examination though and you can still pass the subject if you got less than 50% in any assessment – excluding the final examination.
I missed an assessment for a subject, do I now fail the subject?
Whilst Holmes Institute requires that you attempt all pieces of assessments prescribed for any subject, there may be circumstances, where you can still pass a subject even if you have missed an assessment. When you miss a class test due to medical reasons and you submit a medical certificate within three working days, for example, you may be eligible to have the weight of the class test added to the final examination. Please see the Student Handbook for details.
Can I view my assessments?
As a student, you are entitled to view any of your assessments, that is any assignment but also the class test for any subject, and upon request/application also the final examination script. Please note that viewing any assessment is an administrative process and no academic advice is given and students are neither allowed to take pictures or notes of the assessment. Students are only allowed to view any assessment with an administrator present, and for a limited period of time (please check the Student Handbook for details). Other than assignments, the class test and examination script remains the property of Holmes Institute.
Where can I see my marks and grades?
All your results will be available via the Grade Centre on your Blackboard. You can access the results for each subject in the respective folder. Please ensure that you familiarise yourself with the letter grades, especially for the temporary grades of NS (supplementary examination awarded) and ND (deferred examination), which can be found earlier in this subject outline.
I got a final result of 52/NS. Have I passed the subject?
NO, as the letter grade NS (supplementary examination awarded) indicates, you have not passed the subject, but you have been awarded the opportunity to pass the subject if you successfully pass the supplementary examination. Please familiarise yourself with the Supplementary Examination Policy in the Student Handbook.
When do I need to attempt a NS/supplementary or ND/deferred examination?
If you have been awarded a supplementary (NS) or deferred (ND) examination, you are required to sit the examination during the next examination period for these examinations, which is different from the final examination period at the end of the teaching period each trimester.
I missed to sit for a NS/supplementary or ND/deferred examination, do I have to repeat the subject?
YES, if you do not attempt any supplementary or deferred examination during the designated examination period, you will receive a Fail/NN grade and you have to repeat the subject.
I have a question about the subject material and/or assessments, who do I contact?
For any questions related to any subject you study, the first point of contact is always your lecturer. The subject outline includes the contact details of each lecturer on each campus. Please ensure that you use your Holmes Webmail for any email correspondence with your lecturer.
I did not submit my assignment by the due date, can I still submit and receive marks?
If you submit your assignment after the due date, penalties of 5% of the weight of the assignment apply per day that you submit late. A maximum penalty of 50% applies. Your lecturer may not accept your assignment if you submit later than 14 days after the due date. If you are late with your assignment, please contact your lecturer.
I am not a member of a group for my group assignment. What do I do, can I submit individually?
If you work submit a group assignment individually, you may be penalized and only receive 50% of the mark of your assignment. If you don’t have a group to work with, please urgently consult your lecturer.
I have problems with members in my group. What can I do, who do I contact?
Each group is required to manage its members and contributions. In exceptional circumstances, however, and where initial negotiation attempts of the group members were unsuccessful, you should contact your lecturer.
FAQ for Studying in Block Mode (BM)
What does ‘Studying in Block Mode’ mean to you as a student?
Units offered in Block Mode (BM) means that these units are delivered over a ‘compressed’ period of time; that is six instead of twelve weeks. BM units have the same 36 hours of face to face contact (lectures and tutorials) as units offered in normal mode, however, for these units students study six hours per week instead of three hours.
When are the classes for Block Mode (BM) units?
Units offered in Block Mode (BM) are delivered over two periods of time, as following:
a) Week 1 to Week 5 inclusive + Week 12
b) Week 6 to Week 11 inclusive
Please refer to the timetable for your campus and degree course that specifies which weeks the respective unit in Block Mode will be delivered. Please also note that your timetable will specify the actual days and dates of class for all BM units.
Are the assessments for units in Block Mode (BM) different?
No, units delivered in Block Mode (BM) are assessed in the same way as all other units; that is through a mixture of class tests, assessments, presentations, assignments and so on. Please note all BM units have a final exam that is held during final examination week. For grading and assessment weightings please refer to the unit outline for the respective unit.
Is it important to attend lectures when studying in Block Mode?
YES, absolutely. We recommend that you attend all classes for the unit delivered in Block Mode (BM). Please remember that for units in this delivery mode there are six hours of class scheduled over two days per week!
Is there a Census Date for a Block Mode class unit?
YES, Census Date – as the last day for students to enrol and change an existing enrolment – also applies to units offered in Block Mode.
When is my class test and final exam for my Block Mode unit?
As Block Mode units are delivered over a compressed period of time, please refer to your lecturer to confirm when your class tests will be. Final exams for all units, including block mode units, will be held in the final week of the trimester.
Studying at degree level, you may experience a number of difficulties and/or challenges. These might involve academic, personal and/or professional issues. At Holmes Institute, we have a range of people who can help you with various challenges. The following table identifies contact points should you require any support.
Although we may be able to help on the spot, please note that we can help best if you make an appointment. Please use your Holmes webmail to communicate with staff at the institute at all times.
This subject outline was prepared by the Course Development Team for the Undergraduate Programs, Faculty of Higher Education, Holmes Institute. It was correct at the time of publication. Change to the Subject Outline may occur at any time. However, the Faculty of Higher Education endeavours to inform the students accordingly. This publication is copyright. Apart from any fair dealing for the purpose of private study, research, criticism, or review as permitted under the Copyright Act, no part may be reproduced by any process or placed in computer memory without written permission. Enquires should be made to Holmes Institute Faculty of Higher Education. © Copyright 2017.
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