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Generating the Wealth of Nations (UNIB10010)
Undergraduate level 1Points: 12.5Dual-Delivery (Parkville)
From 2023 most subjects will be taught on campus only with flexible options limited to a select number of postgraduate programs and individual subjects.
To learn more, visit COVID-19 course and subject delivery.
Overview
| Availability | Semester 1 - Dual-Delivery |
|---|---|
| Fees | Look up fees |
This subject provides an introduction to the development of economic activity in the world in the past 300 years. The main objectives are to present an overview of the main phases and episodes in the evolution of the world economy in the past 300 years, and to develop an understanding of the role of factors such as geography, institutions, technological change and culture in explaining economic development. Through study of the evolution of the world economy knowledge of key economic concepts and ideas will be developed, as well as an understanding of how economics and history can be applied to analyse the economic performance of different countries. The subject will emphasise how an understanding of the history of the world economy can be used to analyse current global economic developments. Main topics that are covered include: Early development of economy; European colonial expansion and the rise of trading economies; in the Industrial Revolution; the rise of the American economy in the twentieth century; the Great Depression; World Wars and economic activity; the eras of globalization in the world economy; evolution of international trade and finance; the Golden age and the era of stagflation in European economies; the rise of the Japanese economy, the Asian miracle, and the development of market economies China and Russia; and Australia's role in the world economy.
Intended learning outcomes
On successful completion of this subject, students should be able to:
- Explain how resource allocation can be considered the central economic problem, and the importance of economic activity for the well-being of societies;
- Explain the nature and role of theory and models in economic analysis, and explain the roles of economic theory and analysis of historical data and records for understanding the causes of events and patterns in the world economy;
- Explain key economic concepts such as comparative advantage, international trade, and economic growth, and key ideas such as the role of trade and markets in promoting well-being
- Describe the main phases and episodes in the history of the world economy over the past 300 years
- Explain the role of factors such as geography, political and legal institutions, technological change, culture, immigration and foreign investment, economic policy, in the development of the world economy
- Use their knowledge of the history of the world economy to inform analysis of current developments in economies in different countries
Generic skills
- High level of development: written communication; application of theory to practice; interpretation and analysis; critical thinking; synthesis of data and other information; evaluation of data and other information; accessing data and other information from a range of sources; receptiveness to alternative ideas.
- Moderate level of development: oral communication; collaborative learning; problem solving; team work; statistical reasoning.
- Some level of development: use of computer software
Last updated: 7 September 2024
Eligibility and requirements
Prerequisites
None
Corequisites
None
Non-allowed subjects
None
Inherent requirements (core participation requirements)
The University of Melbourne is committed to providing students with reasonable adjustments to assessment and participation under the Disability Standards for Education (2005), and the Assessment and Results Policy (MPF1326). Students are expected to meet the core participation requirements for their course. These can be viewed under Entry and Participation Requirements for the course outlines in the Handbook.
Further details on how to seek academic adjustments can be found on the Student Equity and Disability Support website: http://services.unimelb.edu.au/student-equity/home
Last updated: 7 September 2024
Assessment
| Description | Timing | Percentage |
|---|---|---|
Essay 1
| Week 5 | 20% |
Essay 2
| Week 9 | 20% |
Class participation | Throughout the semester | 10% |
End-of-semester examination
| During the examination period | 50% |
Last updated: 7 September 2024
Dates & times
- Semester 1
Principal coordinator John Tang Mode of delivery Dual-Delivery (Parkville) Contact hours Two 1-hour lectures and one 1-hour tutorial per week. Total time commitment 170 hours Teaching period 28 February 2022 to 29 May 2022 Last self-enrol date 11 March 2022 Census date 31 March 2022 Last date to withdraw without fail 6 May 2022 Assessment period ends 24 June 2022 Semester 1 contact information
John Tang: john.tang@unimelb.edu.au
Time commitment details
170 hours
Last updated: 7 September 2024
Further information
- Texts
Prescribed texts
No prescribed text.
- Breadth options
This subject is available as breadth in the following courses:
- Bachelor of Arts
- Bachelor of Biomedicine
- Bachelor of Commerce
- Bachelor of Design
- Bachelor of Environments
- Bachelor of Fine Arts (Acting)
- Bachelor of Fine Arts (Animation)
- Bachelor of Fine Arts (Dance)
- Bachelor of Fine Arts (Film and Television)
- Bachelor of Fine Arts (Music Theatre)
- Bachelor of Fine Arts (Production)
- Bachelor of Fine Arts (Screenwriting)
- Bachelor of Fine Arts (Theatre)
- Bachelor of Fine Arts (Visual Art)
- Bachelor of Music
- Bachelor of Science
- Available through the Community Access Program
About the Community Access Program (CAP)
This subject is available through the Community Access Program (also called Single Subject Studies) which allows you to enrol in single subjects offered by the University of Melbourne, without the commitment required to complete a whole degree.
Entry requirements including prerequisites may apply. Please refer to the CAP applications page for further information.
- Available to Study Abroad and/or Study Exchange Students
This subject is available to students studying at the University from eligible overseas institutions on exchange and study abroad. Students are required to satisfy any listed requirements, such as pre- and co-requisites, for enrolment in the subject.
Last updated: 7 September 2024