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The current and official versions of the course specifications are available on the web at https://www.usq.edu.au/course/specification/current.
Please consult the web for updates that may occur during the year.

UEC5011 How do I Price?

8W Teaching Period 3, 2021 Online
Short Description: How do I Price?
Units : 0.25
Faculty or Section : Faculty of Business, Education, Law and Arts
School or Department : School of Business
Student contribution band : Band 4
ASCED code : 091901 - Economics
Grading basis : Graded
Version produced : 11 April 2021

Requisites

Enrolment is not permitted if ECO5000 has been previously completed

Rationale

Economic ideas and methodologies significantly influence politics and business. In this minicourse we take your point of view as a manager or aspiring manager, seeking to understand and use the advice of professional economists to effectively develop and implement a simple pricing model as a powerful tool for your profit maximisation.

Synopsis

This minicourse provides a deeper understanding of pricing, including how to apply the conventional economics model in a real-world business context. Students will look at how pricing decisions are made, and learn how to apply these to business.

Please be advised that this minicourse is made up of four parts please see ECO5000 for the full course specification.

Objectives

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

  1. demonstrate advanced knowledge and understanding of pricing concepts including market conditions and consumer elasticity of demand (ECO5000 LO3;
  2. generate a profit-maximising pricing solution in response to a current professional context (ECO5000 LO3).

Topics

Description Weighting(%)
1. Demand 25.00
2. Marginal Analysis 25.00
3. Elasticity 25.00
4. Demand and Pricing Decision Impacts 25.00

Text and materials required to be purchased or accessed

ALL textbooks and materials available to be purchased can be sourced from USQ's Online Bookshop (unless otherwise stated). (https://omnia.usq.edu.au/textbooks/)

Please contact us for alternative purchase options from USQ Bookshop. (https://omnia.usq.edu.au/info/contact/)

There are no texts or materials required for this course.

Reference materials

Reference materials are materials that, if accessed by students, may improve their knowledge and understanding of the material in the course and enrich their learning experience.

Student workload expectations

Activity Hours
Assessments 10.00
Directed Study 30.00

Assessment details

Description Marks out of Wtg (%) Due Date Notes
Assessment 1 50 100 18 Jun 2021 (see note 1)

Notes
  1. The assessment for this minicourse is due 4 weeks after teaching concludes. Students have access to the learning platform for a total of 11 weeks.

Important assessment information

  1. Attendance requirements:
    There are no attendance requirements for this course. However, it is the students’ responsibility to study all material provided to them or required to be accessed by them to maximise their chance of meeting the objectives of the course and to be informed of course-related activities and administration

  2. Requirements for students to complete each assessment item satisfactorily:
    To satisfactorily complete an individual assessment item a student must achieve at least 50% of the marks for that item. Depending upon the requirements in Statement 4 below, students may not have to satisfactorily complete each assessment item to receive a passing grade in this course

  3. Penalties for late submission of required work:
    Students should refer to the Assessment Procedure http://policy.usq.edu.au/documents.php?id=14749PL (point 4.2.4)

  4. Requirements for student to be awarded a passing grade in the course:
    To be assured of receiving a passing grade a student must achieve at least 50% of the total weighted marks available for the course.

  5. Method used to combine assessment results to attain final grade:
    The final grade for the full course will be assigned on the basis of the aggregate of the weighted marks obtained for each mapped minicourse, once all assessments have been successfully undertaken.

  6. Examination information:
    There is no examination in this course.

  7. Examination period when Deferred/Supplementary examinations will be held:
    There is no examination in this course, there will be no deferred or supplementary examinations.

  8. University Student Policies:
    Students should read the USQ policies: Definitions, Assessment and Student Academic Misconduct to avoid actions which might contravene University policies and practices. These policies can be found at http://policy.usq.edu.au.

Assessment notes

  1. Referencing in assignments must comply with the Harvard (AGPS) referencing system. This system should be used by students to format details of the information sources they have cited in their work. The Harvard (APGS) style to be used is defined by the USQ library’s referencing guide. This guide can be found at http://www.usq.edu.au/library/referencing.

Evaluation and benchmarking

internal USQ accreditation/reaccreditation processes which include (i) stringent standards in the independent accreditation of its academic programs, (ii) close integration between business and academic planning, and (iii) regular and rigorous review.

Other requirements

  1. There are 4 minicourses at 0.25 credit point that map to 1 full course. To receive credit for this minicourse into the full course, students must successfully pass the assessment. Once all 4 mapped minicourses have been successfully completed, a credit into the full course applies.

Date printed 11 April 2021