Faculty of Business: Finance and Economics
Credit points: 6 cp

Subject level: Undergraduate

Result Type: Grade and marks

Requisite(s): 25115 Economics for Business
These requisites may not apply to students in certain courses.
There are also course requisites for this subject. See access conditions.

Handbook description

This subject aims to: develop basic concepts used by economists to describe and analyse the workings of the Australian labour market and Australian industry in a global context; develop an appreciation of the effects of international structures on the operation of labour markets; describe the manner in which the Australian labour market is performing, and the role of government policy in influencing this performance; examine recent changes in the international and Australian economies and the impact of these changes on industry and job structures; and to look at key current labour market and industry issues and policy debates.

Subject objectives/outcomes

On successful completion of this subject students should be able to:

1. Better appreciate and understand the importance of global and national economic, social and political forces that are shaping the Australian economy and industry
2. Understand the changes to the Australian labour market and critically evaluate the national labour market policy responses to globalisation in Australia
3. Develop an appreciation of the way that new immigration patterns are impacting on Australia and the global economy
4. Be able to evaluate how general industry and labour trends nationally and internationally impact on specific industries and markets in Australia.

Contribution to graduate profile

This subject provides a more advanced treatment of areas dealt with at a foundational level in Economics for Business. Students will develop an understanding of Australian labour markets, the structure of Australian industry and the forces shaping these aspects of the Australian economy. Such an understanding will enhance the ability of graduates to advise business, and organisations dealing with business, and to make strategic and well formulated contributions to the decision making processes of these institutions.

Teaching and learning strategies

This course will be taught in a highly interactive mode which revolves around a lecture-seminar format. The lecture materials cover the theoretical framework and policy debates. The seminar permits current international events to be studied in detail. Seminar papers written by students will be discussed and analysed in class. This helps develop students' understanding of the course material and their ability to debate these issues.

Content

• The nature of globalisation and its implications for the Australian labour market and industry
• Theoretical underpinnings of industry and labour economics and their policy implications
• Interaction between global capital flows and Australian labour and industry
• Contemporary debates and issues in labour and industry economics.

Assessment

Research Essay (Group)	30%
The research essay permits students to explore a recent comparative labour and industry topic. They will be required to apply the theory relating to industry and labour economics to a specific contemporary comparative study of globalisation. This assesses objectives 1-4.
Assignment (Individual)	20%
The seminar presentation emphasises current labour and industry issues in the Australian and international economy. This assesses objective 4 in particular.
Final Examination (Individual)	50%
The examination assures objectives 1-4. Students will be tested on their understanding and appreciation of the key principles in industry and labour economics. They are required to demonstrate an ability to critically evaluate the national industry and labour market policy responses to globalisation.

Examination will be conducted under University examination conditions, and hence thoroughly address concerns regarding secure assessment. The assignment will be secured through a combination of updating of assessment tasks across semesters and/or plagiarism detection software.

Recommended text(s)

Bryant, D. and Rafferty, M. (1999) The Global Economy in Australia, Allen and Unwin, Australia.

Indicative references

Collins, J. (1999). "Globalisation, Deregulation and the Changing Australian Labour Market" Proceedings of the Conference on Migrants and Labour Market Deregulation: A Critical Perspective, Workplace Studies Centre, Victorian University of Technology, Melbourne.

Collins, J. (1999). "Globalisation and changing patterns of immigration and immigrant opportunity in Australia" Proceedings of the Fourth Annual International Metropolis Conference, Georgetown University Conference Center, Washington, D.C. USA.