ECB1102 - Introductory macroeconomics

Overview

The unit introduces you to the study of economics from a macroeconomic perspective. Fundamental principles of macroeconomics will be applied to the analysis of Gross Domestic Product, National Income and Aggregate Expenditure, savings and investment, unemployment, money and the Australian monetary system, and aggregate demand and supply in the short … For more content click the Read More button below.

The unit introduces you to the study of economics from a macroeconomic perspective. Fundamental principles of macroeconomics will be applied to the analysis of Gross Domestic Product, National Income and Aggregate Expenditure, savings and investment, unemployment, money and the Australian monetary system, and aggregate demand and supply in the short and long run. The role of monetary and fiscal policy will be discussed, including related debates on regulatory and political environments and how they impact on business and the macroeconomy.

Offerings

S2-01-PENINSULA-ON-CAMPUS

Requisites

Prohibition

Rules

Enrolment Rule

Contacts

Chief Examiner(s)

Dr Jackie So

Notes

ECX1200 can be taken as an alternative to this unit

Learning outcomes

On successful completion of this unit, you should be able to:

gain an insight into the product, money, labour and foreign exchange markets, and knowledge and understanding of the Australian economy and its operation in an international environment

identify and explain economic systems and the concept of resource allocation

discuss the implementation of economic policy in a macroeconomic framework, and the ability of economics as an evolutionary science to address the persistent social and economic problems confronted by society

recognise regulatory and political environments and how they impact on business

acquire the basis for more advanced studies in economics

demonstrate in individual summative assessment tasks the acquisition of a comprehensive understanding of the topics covered.

Teaching approach

Active learning

Assessment

1 - Within semester assessment

2 - Examination

Scheduled and non-scheduled teaching activities

Workshops

Workload requirements

Workload

Minimum total expected workload to achieve the learning outcomes for this unit is 144 hours per semester typically comprising a mixture of scheduled learning activities and independent study. Independent study may include associated readings, assessment and preparation for scheduled activities. You are expected to complete all pre-class activities prior to your scheduled class, and post-class activities should be completed after your scheduled class. Learning activities may include a combination of teacher directed, peer directed and online engagement activities.