Macroeconomics
Duration
- One teaching period
Contact hours
- 36 contact hours
On-campus unit delivery combines face-to-face and digital learning. For Online unit delivery, learning is conducted exclusively online.
Prerequisites
ECO10002 MicroeconomicsAims and objectives
The unit aims to provide students with the theoretical and analytical skills to understand and interpret the likely impact of macroeconomic conditions on a business, industry, and economic policies.
The unit will examine various economic models to determine the level of economic acitivity both domestically and at an international level. Students will explore how unemployment, prices, GDP growth and external balance can impact on national economies.
1. Interpret economic data, and use graphs to represent economic theory and practice
2. Identify and communicate the main issues of concern to the Australian economy and assess the potential impact of those issues on government, business and individuals.
2. Identify and communicate the main issues of concern to the Australian economy and assess the potential impact of those issues on government, business and individuals.
3. Articulate culturally sensitive and ethical reasoning to changes in economic policy and activity
4. Argue and defend conflicting objectives of economic policy.
Courses with unit
This is a unit of study in the Bachelor of Business suite of courses from 2014.
Also formerly known as ECO20002, HBE220N, LBE200, ECO101 (OUA)
Unit information in detail
- Teaching methods, assessment, general skills outcomes and content.
Teaching methods
Lectures (2 hours), Tutorials (1 hour) (on campus only)
Assessment
1. Tests (Individual) 40-50%
2. Examination (Individual) 50-60%
General skills outcomes
The graduate attributes which relate to this unit help to produce graduates who are:
- Capable in their chosen professional, vocational or study areas
- Entrepreneurial in contributing to innovation and development within their business, workplace or community
- Effective and ethical in work and community situations
- Adaptable and able to manage change
- Aware of local and international environments in which they will be contributing (e.g. socio-cultural, economic, natural)
Content
- Economic output
- Determination of output, employment and prices using an AD/AS model and Aggregate Expenditure (Keynesian) model
- The business cycle and unemployment
- Inflation and its relationship with unemployment
- Balance of payments, external debt and net foreign liabilities
- Foreign exchange markets
- Monetary policy, fiscal policy and policies to promote economic growth
- Policy overview and assessment
Study resources
- Reading materials.
Reading materials
Students are advised to check the unit outline in the relevant teaching period for appropriate textbooks and further reading.