Macroeconomics in the Global Economy

Course code ECON1002
Available in 2015
2015 Course Timetables

Description

The state of the macroeconomy is a major influence on employment opportunities and pay, which impacts directly on the economic and social welfare of most citizens; this is most apparent at times of economic crisis. This course provides a coherent theoretical framework within which to analyse and understand the evolution of (macro)economies over time, and the impact of policies. Key economic issues including the Global Financial Crisis and its real manifestation in the form of persistent unemployment, high public debt, and growing poverty are investigated. Highly contested, contemporary policy debates with respect to issues such as inflation, exchange rate regimes, fiscal rules and prudential regulation, are also reviewed, along with their impact on business organisations and households. Students will have the opportunity to develop an international macroeconomic perspective, while developing attributes, including critical and adaptive thinking, the capacity to synthesise competing points of view and effective communication.

Availability

Callaghan

  • Semester 1 - 2015
  • Semester 2 - 2015

UoN Singapore

  • Trimester 2 - 2015 (Singapore)

Ourimbah

  • Semester 2 - 2015

Learning Outcomes

1. Utilise basic macroeconomic concepts and theoretical principles to understand the evolution of the macroeconomy and how it impacts on both the welfare of households and the sustainability of business organisations.

2. Access economic data which are pertinent to contemporary macroeconomic debates and use numerical and graphical techniques to analyse these data.

3. Demonstrate that Macroeconomics is a contested discipline with different intellectual perspectives on the most appropriate way to manage the macroeconomy.

4. Adopt critical and adaptive thinking to assess current media and government reports about macroeconomic analysis and policy, with particular reference to the Global Financial Crisis.

5. Interpret and effectively communicate economic processes and policies to suit the context and audience.

6. Demonstrate that a solid understanding of Macroeconomics is important for a well-rounded education in the Business and Commerce disciplines, since it underpins well informed business decisions.

Content

Lectures may include, but are not restricted to, the following topics:

  1. Key macroeconomic concepts
  2. GDP and the circular flow of income.
  3. The determination of economic activity
  4. Money and banking. The behaviour of Central Banks: monetary policy and the term structure of interest rates.
  5. Fiscal policy, deficits and public debt crises.
  6. Theories of inflation.
  7. Exchange rates and international trade.
  8. Contemporary macroeconomic policy debates with particular reference to the Global Financial Crisis.

Assessment Items

Tutorial / Laboratory Exercises: Tutorial Assessments

Presentation: Tutorial group engagement and presentation

Quiz: Quiz

In Term Test: Mid Semester Test

Formal Examination: Final Examination

Contact Hours

Callaghan

Workshop

Face to Face On Campus 2 hour(s) per Week for 13 Weeks

Ourimbah

Lecture

Face to Face On Campus 2 hour(s) per Week for 12 Weeks

Tutorial

Face to Face On Campus 1 hour(s) per Week for 12 Weeks

Workshop

Face to Face On Campus 1 hour(s) per Week for 12 Weeks

UoN Singapore

Lecture

Face to Face On Campus 2 hour(s) per Week for Full Term

Tutorial

Face to Face On Campus 1 hour(s) per Week for 12 Weeks

Workshop

Face to Face On Campus 1 hour(s) per Week for 12 Weeks