Faculty of Business and Economics

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Monash University

Monash University Handbook 2010 Undergraduate - Unit

6 points, SCA Band 3, 0.125 EFTSL

FacultyFaculty of Business and Economics
OfferedClayton First semester 2010 (Day)
Clayton Second semester 2010 (Day)
Coordinator(s)Dr Stephen Miller


Keynesian macroeconomics; the open-economy, IS-LM framework and the aggregate demand-aggregate supply framework as a basis for more advanced macroeconomic analysis; principles of monetary and fiscal policy and problems of implementation; alternative theories of aggregate supply; new classical macroeconomics and the implications of imperfect information; new Keynesian macroeconomics and the implications of labour market rigidities; explaining and correcting inflation and unemployment.


The learning goals associated with this unit are to:

  • analyse systematically the forces that determine changes in macroeconomic performance and living standards in Australia
  • understand the relationship between the domestic economy and the international economic environment, as reflected in the behaviour of the balance of payments and exchange rates
  • appraise critically the issues underlying important contemporary policy debates in Australia and elsewhere
  • appreciate the nature and relevance of some significant recent developments in macroeconomics
  • engage in rigorous economic analysis.


Within semester assessment: 20%
Examination (2 hours): 80%

Chief examiner(s)

Siew Ling Yew

Contact hours

Two 1-hour lectures and one 1-hour tutorial


ECC1100 or ECC2100


ECC2010, ECC9010