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.
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Synopsis
This unit is designed to analyse the effect of money on the key economic variables such as interest rates, inflation, output and the workings of the banking sector. In addition, we will also examine the roles commerical banks and the central bank play in the process of money creation and implementation of monetary policies. The unit also teaches an economic approach to interpret today's information and policy decisions that can help you to predict future events and the effects those events can have on your own decisions.
Outcomes
The learning goals associated with this unit are to:
- develop a knowledge of the theoretical structure of an open economy with particular emphasis on monetary policy formulation and implementation
- acquire an understanding of the institutional structure of the banking system
- develop skills in analysis and prediction for the key economic variables when the economy is faced with internal and external market shocks
- be able to use an economic model to analyse policy measures.
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.
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