Available in 2022
Course code



10 units


3000 level

Course handbook


This course extends intermediate macroeconomic theory and policy analysis to the advanced examination of both historical and contemporary issues in international macroeconomics. Global economic interdependence means our lives – consumption, investment, labour market outcomes, policies, technology and culture among others- are constantly affected by economic developments in other countries. How is Australia affected by open macroeconomic events and how are other countries affected by Australia’s open macroeconomic activities and policies? The national and international macroeconomic aspects shaping current global interdependence is emphasised in this course.The impact of both domestic and international economic institutions and policy constraints on the conduct of policy is emphasised, and illustrated by drawing on international case studies. Students will learn by accessing, analysing and synthesising relevant open macroeconomic theories, policies, models, data and other information and continue to build sector specific skills.


Newcastle City Precinct

  • Semester 1 - 2022

Learning outcomes

On successful completion of the course students will be able to:

1. Review information on the challenges and advantages of international economic interdependence from business and national performance;

2. Demonstrate a deep analytical understanding of concepts and models for international macroeconomic operation and policy analysis;

3. Access, analyse, evaluate and synthesise both quantitative and qualitative economic information pertinent to contemporary macroeconomic and labor markets debates internationally;

4. Participate in groups to analyse and communicate developments in international macroeconomic events both orally and in written form.


This course may include but is not limited to the following topics:

  1. Using appropriate international macroeconomic or open macroeconomic models, analysis of competing schools of macroeconomic thought and issues.   
  2. Debates in international macroeconomic theory and policy, including contemporary issues in fiscal and monetary policy, exchange rate arrangements and capital flows, and currency-financial crises.
  3. Transmission of global macroeconomic shocks and issues in domestic economy stabilisation after crisis.


Students must have successfully completed ECON2002.

Assessment items

Quiz: Group Workshop Activity/Online Quiz

Tutorial / Laboratory Exercises: Workshop Discussion Questions

In Term Test: Mid Semester Test

Formal Examination: Final Exam

Contact hours

Newcastle City Precinct


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.