TECO401 Principles of Economics TECO401 Principles of Economics Campus: Australian Technology Park, Eveleigh, NSW 2015 Units of Credit: 6 Prerequisite or Corequisite: There is no required prerequisite for this unit. EFTSL*: 0.125 Indicative Contact Hours per Week: 3 Tuition Fee See Tuition Fee Schedule Application Date: See Key Dates Unit Overview: For this unit, students will study and acquire an understanding Microeconomics (how individual businesses and sectors operate) and Macroeconomics (how an economy works as a whole). Students will also explore key questions such as why institutions are very important in an economy, and how internal and international trade creates economic wealth?Key goals in this unit are to develop student understanding of the importance of economic systems, different fields of economic theory that are relevant to business, and to develop analytical skills relevant to economics. *EFTSL = Equivalent full-time study load