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
Organisational Unit
Coordinator(s)
Unit guides
Synopsis
This unit develops analytical skills and fundamental concepts that economists need in order to understand the overall macroeconomic policies. It will cover the cyclical behaviour of the economy; the determinants of the level of national income, money and inflation, interest rate, exchange rate, capital flows, international trade, and the natural rate of unemployment; the role of monetary, fiscal and exchange rate policies in influencing economic activities.
Outcomes
The learning goals associated with this unit are to:
- understand the measurement of income, prices, money and unemployment
- distinguish between the short-run and long-run impacts of macroeconomic policy
- understand the concepts of aggregate demand, aggregate supply and general equilibrium, and be able to use them for policy analysis
- understand the effect of macroeconomic policy on the trade balance, inflation, unemployment and income
- be able to critically assess macroeconomic policy.
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.
See also Unit timetable information