ECC1100 - Principles of macroeconomics

Overview

This unit introduces you to macroeconomics, from the leading schools of thought and the microeconomic underpinnings to policy analysis. You will develop a broad understanding of the various indicators of macroeconomic performance of a country, such as inflation, unemployment and economic growth, as well as their interrelation, strengths and deficiencies. … For more content click the Read More button below.

This unit introduces you to macroeconomics, from the leading schools of thought and the microeconomic underpinnings to policy analysis. You will develop a broad understanding of the various indicators of macroeconomic performance of a country, such as inflation, unemployment and economic growth, as well as their interrelation, strengths and deficiencies. The role of monetary and fiscal policy in business cycles and economic growth is studied in the context of the current macroeconomic challenges.

Offerings

S1-01-CLAYTON-FLEXIBLE

S2-01-CLAYTON-FLEXIBLE

Requisites

Prohibition

Rules

Enrolment Rule

If you are enrolled in course B2007 you cannot undertake this unit.

To be successful in this unit, background knowledge and application of maths is required at the equivalent of VCE Year 12 level. You may have satisfied this by completing relevant prerequisite unit/s, or you have covered relevant topics in your final years of secondary study. You should self-assess your maths competency prior to enrolling in this unit.

Contacts

Chief Examiner(s)

Dr Jaai Parasnis

Ms Ayushi Bajaj

Unit Coordinator(s)

Dr Qingyuan Du

Dr Siew Ling Yew

Notes

ECX1200 can be taken as an alternative to this unit

Learning outcomes

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

interpret recent movements in key economic indicators of the Australian and other economies and appreciate some of the definition and measurement problems associated with the available data

understand the importance of distinguishing between the short-run and long-run impacts of macroeconomic policy

apply economic analysis appropriate to achieving an understanding of the working of the macroeconomy

recognise the significance of Australia's economy in relation to the rest of the world and the implications of this interdependence for the balance of payments and exchange rate

understand regulatory and political environments and how they impact on business and the economy.

Teaching approach

Problem-based learning

Enquiry-based learning

Active learning

Case-based teaching

Assessment

1 - Within semester assessment

2 - Examination

Scheduled and non-scheduled teaching activities

Seminars

Tutorials

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.