| Effective Term: | 2024/05 |
| Institute / School : | Institute of Innovation, Science & Sustainability |
| Unit Title: | Comparative Economic Systems |
| Unit ID: | BUECO2617 |
| Credit Points: | 15.00 |
| Prerequisite(s): | (BE508 or BUECO1508) (BE507 or BUECO1507 or BUECO1509) |
| Co-requisite(s): | Nil |
| Exclusion(s): | Nil |
| ASCED: | 091901 |
| Other Change: | |
| Brief description of the Unit |
This course is designed to allow students to understand and analyse different economic systems and appreciate the diverse range of views on such systems. The content includes: the role of economic systems in economics and economic policy elements of an economic system classification of different economic systems the consistency and viability of economic systems monopoly market capitalism Stalinism in the Soviet Union and Eastern Europe Maoism in China market socialism, Gorbachev reforms and economic transition in China, Russia and Eastern Europe and the processes driving globalisation. |
| Grade Scheme: | Graded (HD, D, C, P, MF, F, XF) |
| Work Experience Indicator: |
| No work experience |
| Placement Component: | |
| Supplementary Assessment:Yes |
| Where supplementary assessment is available a student must have failed overall in the Unit but gained a final mark of 45 per cent or above, has completed all major assessment tasks (including all sub-components where a task has multiple parts) as specified in the Unit Description and is not eligible for any other form of supplementary assessment |
| Course Level: |
| Level of Unit in Course | AQF Level(s) of Course | | 5 | 6 | 7 | 8 | 9 | 10 | | Introductory | | |  | | | | | Intermediate | | | | | | | | Advanced | | | | | | |
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| Learning Outcomes: |
| Knowledge: |
| K1. | Describe what an economic system is and how the study of economic systems fits into an overall study of course |
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| K2. | Review the methods for comparing economic systems |
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| K3. | Identify likely future developments in economic systems and assess theories which predict that economic systems will become more similar over time |
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| K4. | Examine the implications for national and world economic growth of cooperation between nations with differing economic systems |
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| Skills: |
| S1. | Distinguish between capitalist, socialist and communist economic systems and different forms of capitalism |
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| S2. | Analyse economic policy issues within an economic system context by using the relationship between economic analysis and economic systems |
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| S3. | Build and use analytical models to examine differences between various economies and various economic systems |
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| S4. | Apply analytical models to examine the comparative advantages of particular economic systems |
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| Application of knowledge and skills: |
| A1. | Evaluate and critically analyse government policy and make an informed contribution to public debate on economic issues. |
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| A2. | Use initiative and judgement when comparing the diverse range of views on economic systems |
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| A3. | Adapt knowledge and skills in a range of different comparative situations |
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| Unit Content: |
•The role of economic systems in economics and economic policy
•Elements of an economic system
•Classification of different economic systems
•Monopoly market capitalism: Australia, UK, Thatchers reforms, Japan, Germany and the European Union
•Stalinism in the Soviet Union and Eastern Europe and Maoism in China
•Market socialism, Gorbachev reforms, Deng Xiaoping market socialist reforms
•Transition in Russia and Eastern Europe |
| Graduate Attributes: |
| | Learning Outcomes Assessed | Assessment Tasks | Assessment Type | Weighting | | 1. | K1,K2 S1,S2 | Calculations and problem solving, written paragraph type explanations | Mid term test | 20-30% | | 2. | K1,K2,K3,K4 S1,S2,S3,S4 A1,A2,A3 | Individual application, activities to develop and enhance knowledge of Comparative Economic Systems | Written Assignment | 20-30% | | 3. | K1 K2, K4, S1,S2,S4 A2,A3 | Written paragraph type explanations | Written Exam | 40-60% |
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