This unit entry is for students who completed this unit in 2016 only. For students planning to study the unit, please refer to the unit indexes in the the current edition of the Handbook. If you have any queries contact the managing faculty for your course or area of study.

ECC1100 - Principles of macroeconomics

6 points, SCA Band 3, 0.125 EFTSL

Undergraduate - Unit

Refer to the specific census and withdrawal dates for the semester(s) in which this unit is offered.

Faculty

Business and Economics

Organisational Unit

Department of Economics

Coordinator(s)

Dr Jaai Parasnis (Clayton)
Dr Audrey Siah (Malaysia)

Offered

Clayton

First semester 2016 (Day)
Second semester 2016 (Day)

Malaysia

First semester 2016 (Day)

Synopsis

The scope of macroeconomics and its microeconomic underpinnings; aggregation problems; partial equilibrium and general equilibrium analysis; the circular flow of income as a general equilibrium model; the mutual dependence of financial flows and flows of goods and services; sectoral composition of aggregate demand; business and investment behaviour; government spending and taxation; external balance and determination of current and capital accounts; labour market and aggregate supply; money, credit, and the conduct of monetary policy; inflation and unemployment; macroeconomic effects of deregulation in Australia.

Outcomes

The learning goals associated with this unit are to:

interpret recent movements in key economic indicators of the Australian and other economies and appreciate some of the definitional and measurement problems associated with the available data
understand the importance of distinguishing between the short-run and long-run impacts of macroeconomic policy
apply economic analysis appropriate to achieving an understanding of the working of the macroeconomy
recognise the significance of Australia's economy in relation to the rest of the world and the implications of this interdependence for the balance of payments and exchange rate.

Assessment

Within semester assessment: 40%
Examination: 60%

Workload requirements

Minimum total expected workload to achieve the learning outcomes for this unit is 144 hours per semester typically comprising a mixture of scheduled learning activities and independent study. Independent study may include associated readings, assessment and preparation for scheduled activities. The unit requires on average three/four hours of scheduled activities per week. Scheduled activities may include a combination of teacher directed learning, peer directed learning and online engagement.