The first year macroeconomics course provided a broad overview of macroeconomic principles and policy debates, with particular reference to the Global Financial Crisis. Many sovereign and non-sovereign (Eurozone) countries remain mired in recession with stagnant growth and high rates of unemployment.
This course builds on the first year course by extending and deepening the analytical and policy framework. New analytical approaches are developed to examine the important debates about the operation of the labour market and employment determination, the role of financial markets in the changing global economy and the conduct of macroeconomic policy. Students are equipped with the tools, skills and knowledge base necessary to understand the operation of the macroeconomy and to critically evaluate competing views about the conduct of policy.
- Semester 2 - 2016
On successful completion of the course students will be able to:
1. Discuss competing theoretical arguments about the operation of the macroeconomy.
2. Access and analyse macroeconomic data which are pertinent to contemporary macroeconomic debates in Australia and overseas.
3. Engage in critical thinking through the comparative assessment of competing macroeconomic models and policy frameworks.
4. Collaborate with fellow students in the evaluation and presentation of arguments about macroeconomic theory and policy.
The topics in this include but are not limited to the following:
- What is macroeconomics? What is capitalism?
- National and Sectoral Accounting
- Aggregate expenditure models
- Government and money.
- Keynes and the Classics
- Inflation & Unemployment: Buffer stock & price stability
- Government Fiscal Policy
- Money & Banking
- Open economy: BOP, exchange rates, competitiveness
- MMT and IS/LM
- Policy Debates
Successful completion of ECON1002
Written Assignment: Written Assignment and Group Discussion
In Term Test: Class Exam
Formal Examination: Formal Exam
Face to Face On Campus 2 hour(s) per Week for Full Term
Students are expected to complete 4 hours of guided learning via online preparation, lectures, interactive workshops, tutorials, discussion groups or self-directed learning and an additional 6 hours of independent study per week.