Intermediate Macroeconomics

Course code ECON2002Units 10Level 2000Faculty of Business and LawNewcastle Business School

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.

Available in 2014

Callaghan CampusSemester 2
Previously offered in 2013, 2012
ObjectivesUpon successful completion of this course, students will be able to:
1. Assess 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.
ContentThe topics in this include but are not limited to the following:

1. What is macroeconomics? What is capitalism?
2. National and Sectoral Accounting
3. Aggregate expenditure models
4. Government and money.
5. Keynes and the Classics
6. Inflation & Unemployment: Buffer stock & price stability
7. Government Fiscal Policy
8. Money & Banking
9. Open economy: BOP, exchange rates, competitiveness
10. MMT and IS/LM
11. Policy Debates
Replacing Course(s)This course replaces ECON2510 Macroeconomics II
TransitionThis course is not available to students who have completed ECON2510.
Industrial Experience0
Assumed KnowledgeSuccessful completion of ECON1002.
Modes of DeliveryInternal Mode
Teaching MethodsLecture
Tutorial
Assessment Items
Examination: ClassMid semester test.
Essays / Written AssignmentsGroup essay
Examination: FormalFinal exam in the formal exam period.
Contact HoursLecture: for 2 hour(s) per Week for Full Term
Tutorial: for 1 hour(s) per Week for 12 weeks
Timetables2014 Course Timetables for ECON2002