Available in 2022
Course code



10 units


2000 level

Course handbook


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.


PSB Singapore

  • Trimester 1 - 2022 (Singapore)
  • Trimester 3 - 2022 (Singapore)

Newcastle City Precinct

  • Semester 2 - 2022

Learning outcomes

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: 

  1. The nature and scope of macroeconomics
  2. National and Sectoral Accounting
  3. Growth and aggregate expenditure models
  4. Government, money, output and prices
  5. Inflation & Unemployment
  6. Monetary and Fiscal Policy
  7. Money & Banking
  8. Open economy: BOP, exchange rates, competitiveness
  9. IS/LM
  10. Policy Debates


Students must have successfully completed ECON1002.

Assessment items

In Term Test: Mid-term test

Written Assignment: Group Project

Formal Examination: Final Exam

Contact hours

Newcastle City Precinct and PSB Singapore

Computer Lab

Face to Face On Campus 1 hour(s) per Week for Full Term starting in week 2


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.

The University of Newcastle acknowledges the traditional custodians of the lands within our footprint areas: Awabakal, Darkinjung, Biripai, Worimi, Wonnarua, and Eora Nations. We also pay respect to the wisdom of our Elders past and present.