The University of Newcastle, Australia
Not currently offered
Course code



10 units


6000 level

Course handbook


In a changing global economy, the challenges posed by globalisation have necessitated the need for a deeper understanding of the basic principles and concepts that underlie macroeconomic theory and policy. This course is designed to provide students with an integrated view of the macroeconomy. The course aims to equip students with the fundamental macroeconomic tools and key ideas that have reshaped modern thinking about the macroeconomy. Emphasis is placed on the fundamental questions of what determines the living standards of the citizenry and the role of government in the functioning of the macroeconomy, as it pertains to output, employment and national income determination. Also investigated are contemporary macroeconomic policy debates, such as stimulus versus austerity measures.


Not currently offered.

This Course was last offered in Trimester 2 - 2017.

Learning outcomes

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

1. Demonstrate a critical understanding of the functioning of the macroeconomy.

2. Critically evaluate the relevance of various macroeconomic principles and concepts to business and public policy decision making.

3. Explain the role of government policy in stabilising the business cycle.

4. Describe how the changing global economy impacts on the functioning of the macroeconomy.

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


Topics include but are not limited to the following:

  1. The Global Macroeconomy
  2. Theories of Inflation
  3. Technological Progress and Growth
  4. Exchange Rate Regimes
  5. Open Macroeconomy Models
  6. Monetary Policy
  7. Fiscal Policy
  8. Output, Interest Rates and Exchange Rates
  9. Openness in Goods and Financial Markets
  10. The Financial Crisis and the Great Depression


This course replaces GECO6400. If you have successfully completed GECO6400 you cannot enrol in this course.

Assessment items

Quiz: Weekly on-line quiz

Online Learning Activity: Discussion board contribution

In Term Test: Mid-trimester test

Written Assignment: Written Assignment

Formal Examination: Final Examination