This course builds on the microeconomic principles developed in first and second year by extending students knowledge of markets and the firm to the role of the entrepreneur and their interaction with the wider economy.
The course is structured into four parts:
(1) We examine who becomes an entrepreneur and why, by examining the theories of entrepreneurship, methods for applied entrepreneurial research, the incentives to become an entrepreneur and examine the entrepreneurship of specific groups.
(2) We examine the financing of entrepreneurial ventures, from debt (finance) to venture capital and other sources of capital.
(3) The examination of entrepreneurial inputs, performance and the broader community - covering performance measures, wealth accumulation, job creation, innovation, returns to human capital and entrepreneurial survival.
(4) Finally, we explore the entrepreneur and public policy - examining public policy, taxation, market regulation and their impact on the entrepreneur.
The course provides an economic understanding of entrepreneurs and the role that they play in the development of the wider economy. Additionally, the course provides an insight into the emerging field of the economics of entrepreneurship and a platform from which to undertake research or implement economic analysis of entrepreneurial endeavors.
Not currently offered.
This Course was last offered in Semester 2 - 2020.
On successful completion of the course students will be able to:
1. Demonstrate an understanding of the economic traits and roles of an entrepreneur.
2. Demonstrate the use of microeconomics to analyse entrepreneurial markets and behaviours.
3. Demonstrate an understanding of entrepreneurial financing and capital arrangements.
4. Demonstrate an understanding of public policy and constraints on entrepreneurs.
5. Analyse and present an analysis of entrepreneurial policy.
This course includes but is not limited to the following topics:
- Introduction & Theories
- Empirical research methods
- Determinants of entrepreneurship
- Ethnic & Female entrepreneurship
- Debt Finance & Venture Capital
- Wealth and entrepreneurship
- Job creation, Innovation & Growth
- Effort, Income & Human Capital Return
- Principles, policy & Finance
- Taxation, Regulation & Policy
Students must have successfully completed ECON1001 and ECON2001.
Presentation: Group Presentation
Written Assignment: Tutorial Discussion Questions
In Term Test: Mid-Term Test
Formal Examination: Final Examination
The University of Newcastle acknowledges the traditional custodians of the lands within our footprint areas: Awabakal, Darkinjung, Biripai, Worimi, Wonnarua, and Eora Nations. We also pay respect to the wisdom of our Elders past and present.