Overview
This unit builds on the introductory macroeconomic theory presented in Principles of Economics (ECON11026). It develops the theory of economic growth and explores the causes and effects of the business cycle. It examines the neo-classical, Keynesian and modern theories of income determination and explores the nature and causes of inflation and unemployment. It develops the tools of fiscal and monetary analysis and links the theory to contemporary macroeconomic policy settings. Finally, it examines the balance of payments and the theory of international trade using recent Australian data and explores the roles of the International Monetary Fund (IMF) and the World Trade Organisation (WTO) in stabilising world trade and assisting developing countries to attain macroeconomic maturity.
Details
Pre-requisites or Co-requisites
There are no requisites for this unit.
Important note: Students enrolled in a subsequent unit who failed their pre-requisite unit, should drop the subsequent unit before the census date or within 10 working days of Fail grade notification. Students who do not drop the unit in this timeframe cannot later drop the unit without academic and financial liability. See details in the Assessment Policy and Procedure (Higher Education Coursework).
Offerings For Term 1 - 2019
Attendance Requirements
All on-campus students are expected to attend scheduled classes – in some units, these classes are identified as a mandatory (pass/fail) component and attendance is compulsory. International students, on a student visa, must maintain a full time study load and meet both attendance and academic progress requirements in each study period (satisfactory attendance for International students is defined as maintaining at least an 80% attendance record).
Recommended Student Time Commitment
Each 6-credit Undergraduate unit at CQUniversity requires an overall time commitment of an average of 12.5 hours of study per week, making a total of 150 hours for the unit.
Class Timetable
Assessment Overview
Assessment Grading
This is a graded unit: your overall grade will be calculated from the marks or grades for each assessment task, based on the relative weightings shown in the table above. You must obtain an overall mark for the unit of at least 50%, or an overall grade of ‘pass’ in order to pass the unit. If any ‘pass/fail’ tasks are shown in the table above they must also be completed successfully (‘pass’ grade). You must also meet any minimum mark requirements specified for a particular assessment task, as detailed in the ‘assessment task’ section (note that in some instances, the minimum mark for a task may be greater than 50%). Consult the University’s Grades and Results Policy for more details of interim results and final grades.
All University policies are available on the CQUniversity Policy site.
You may wish to view these policies:
- Grades and Results Policy
- Assessment Policy and Procedure (Higher Education Coursework)
- Review of Grade Procedure
- Student Academic Integrity Policy and Procedure
- Monitoring Academic Progress (MAP) Policy and Procedure – Domestic Students
- Monitoring Academic Progress (MAP) Policy and Procedure – International Students
- Student Refund and Credit Balance Policy and Procedure
- Student Feedback – Compliments and Complaints Policy and Procedure
- Information and Communications Technology Acceptable Use Policy and Procedure
This list is not an exhaustive list of all University policies. The full list of University policies are available on the CQUniversity Policy site.
Feedback, Recommendations and Responses
Every unit is reviewed for enhancement each year. At the most recent review, the following staff and student feedback items were identified and recommendations were made.
Feedback from Student Feedback Survey
The quality of the assessment and the quick feedback helped the student learning
Continue to provide engaging assessment tasks and quick feedback on assessments.
Feedback from Student Feedback Survey
The Moodle site for this unit was easy to navigate.
Continue with the current layout of presenting learning material on Moodle.
Feedback from Student Feedback Survey
Some video lecture explanations did not go beyond the textbook.
Provide additional video explanations covering basic and advanced concepts.
- explain and apply macroeconomic theory to the major macroeconomic problems and policies
- analyse the policies for solving unemployment and inflation problems
- explain how fluctuations in the business cycle can have an impact on economic growth including Gross Domestic Product, interest rates, exchange rates, inflation rates, unemployment rates and the federal budget
- apply economic concepts to the issues of fiscal policy, monetary policy, exchange rate policy and international deficits and surpluses
- compare and contrast the definitive features of different macroeconomic theories of the 1930s and 1970s
Alignment of Assessment Tasks to Learning Outcomes
| Assessment Tasks | Learning Outcomes | ||||
|---|---|---|---|---|---|
| 1 | 2 | 3 | 4 | 5 | |
| 1 - Online Quiz(zes) - 30% | |||||
| 2 - Written Assessment - 30% | |||||
| 3 - Written Assessment - 40% | |||||
Alignment of Graduate Attributes to Learning Outcomes
| Graduate Attributes | Learning Outcomes | ||||
|---|---|---|---|---|---|
| 1 | 2 | 3 | 4 | 5 | |
| 1 - Communication | |||||
| 2 - Problem Solving | |||||
| 3 - Critical Thinking | |||||
| 4 - Information Literacy | |||||
| 5 - Team Work | |||||
| 6 - Information Technology Competence | |||||
| 7 - Cross Cultural Competence | |||||
| 8 - Ethical practice | |||||
| 9 - Social Innovation | |||||
| 10 - Aboriginal and Torres Strait Islander Cultures | |||||
Alignment of Assessment Tasks to Graduate Attributes
| Assessment Tasks | Graduate Attributes | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | |
| 1 - Online Quiz(zes) - 30% | ||||||||||
| 2 - Written Assessment - 30% | ||||||||||
| 3 - Written Assessment - 40% | ||||||||||
Textbooks
Macroeconomics: Australia in the Global Environment
Edition: 1st ed. (2016)
Authors: Parkin & Bade
Pearson Australia
Melbourne Melbourne , Victoria , Australia
ISBN: 9781486019632
Binding: Paperback
Additional Textbook Information
The text is also available as an e-book and can be purchased at the publisher's website here: http://www.pearson.com.au/9781488611117
However, a value pack containing the hard copy and the eBook is available at the CQUni Bookshop here: http://bookshop.cqu.edu.au (search on the Unit code)
IT Resources
- CQUniversity Student Email
- Internet
- Unit Website (Moodle)
All submissions for this unit must use the referencing style: American Psychological Association 6th Edition (APA 6th edition)
For further information, see the Assessment Tasks.
j.ananda@cqu.edu.au
Module/Topic
Introduction to Macroeconomics: The nature of the economic problem
Chapter
Parkin & Bade (2016), Chs. 1, 2 & 3
Events and Submissions/Topic
Module/Topic
Measuring the Macroeconomy: Gross Domestic Product (GDP).
Chapter
Parkin & Bade (2016) Ch. 5
Events and Submissions/Topic
Module/Topic
Macroeconomic problems: Unemployment and Inflation
Chapter
Parkin and Bade (2016) Chs. 6 & 7
Events and Submissions/Topic
Module/Topic
Economic growth: GDP growth theories and labour productivity
Chapter
Parkin & Bade (2016) Ch. 8
Events and Submissions/Topic
Module/Topic
Finance, Saving and Investment
Chapter
Parkin & Bade (2016) Ch. 9
Events and Submissions/Topic
Module/Topic
Mid-term break
Chapter
Events and Submissions/Topic
Module/Topic
Price level and Inflation: The banking system and money creation
Chapter
Parkin & Bade (2016) Ch. 10
Events and Submissions/Topic
Module/Topic
Australia in the global economy: Exchange rate and the balance of payments
Chapter
Parkin & Bade (2016) Ch. 17
Events and Submissions/Topic
Module/Topic
Aggregate supply and aggregate demand: Business cycles and macroeconomic schools of thought
Chapter
Parkin & Bade (2016) Ch. 11
Events and Submissions/Topic
Module/Topic
Expenditure multiplier: the Keynesian model and the Phillips Curve
Chapter
Parkin & Bade (2016) Chs. 12 & 13
Events and Submissions/Topic
Module/Topic
Fiscal Policy: Government's role in managing macroeconomic fluctuations
Chapter
Parkin & Bade (2016) Ch. 14
Events and Submissions/Topic
Module/Topic
Monetary Policy: The Reserve Bank's role in managing macroeconomic fluctuations
Chapter
Parkin & Bade (2016) Ch. 15
Events and Submissions/Topic
Module/Topic
International Trade Theory: Global markets, trade restrictions and free trade
Chapter
Parkin & Bade (2016) Ch. 16
Events and Submissions/Topic
Module/Topic
Review Week
Chapter
Events and Submissions/Topic
Module/Topic
Chapter
Events and Submissions/Topic
1 Online Quiz(zes)
Assignment Item 1: Written- Weekly Quizzes
Submission in week-5
This will consist of six (6) quizzes, each carrying 5% of total marks. Total weight = 30%.
This will cover learning outcomes 1 - 3, based on first four (4) weeks of study.
6
Week 5 Friday (12 Apr 2019) 11:45 pm AEST
Due on Friday of Week 5, by 23:45 hrs (AEST).
Week 5 Friday (12 Apr 2019)
Feedback is provided after the completion of the quiz each week.
No Assessment Criteria
- explain and apply macroeconomic theory to the major macroeconomic problems and policies
- analyse the policies for solving unemployment and inflation problems
- explain how fluctuations in the business cycle can have an impact on economic growth including Gross Domestic Product, interest rates, exchange rates, inflation rates, unemployment rates and the federal budget
- Problem Solving
- Critical Thinking
- Information Literacy
2 Written Assessment
Assignment 2: Written assessment
This assessment will consist of four (4) detailed discussion questions that will include calculations and graphical analysis. Each question may have sub-questions to answer and will be based on topics covered in weeks 5-8 of the course.
Weighting = 30%, total word length = 2,000 to 2,500.
Assessment 2 will cover learning outcomes 1 - 3.
Week 8 Friday (10 May 2019) 11:45 pm AEST
Due on Friday of Week 8, by 23:45 Hrs AEST
Week 10 Friday (24 May 2019)
Returning two (2) weeks from the date of submission of the assignment.
Assessment criteria for Assessment 2.
Use the DADA framework (Definitions, Assumptions, Diagrams & Analysis) in structuring your answers to all questions. Read on moodle information provided in PDF file, about how to answer questions, write essays in economics.
Concepts and key terms must be Defined accurately and completely.
The Assumptions upon which the analysis is based must be stated at the outset.
Diagrams must be drawn properly, correctly labelled, and the relations they depict explained.
Answers must be complete, addressing the specific tasks nominated in the questions.
Critical Analysis overall should be provided by relating economic theory to real-life economic examples.
Where a question has more than one part, so too should the answer. Ensure complete coverage.
Students should refer to a range of sources including textbooks, online resources, articles and news items related to the questions.
Please do not depend solely on the set textbook for writing the assignment.
Plagiarism is a punishable offense, therefore, please remember to include in-text references and a Reference list.
Working on the assignment questions progressively each week will prevent you from requesting extensions.
It is suggested that you work on your assignment questions each week rather than leaving it all close to the due date. Penalties (5% of assessment marks per day) will apply for any late submissions without an approved extension.
- explain and apply macroeconomic theory to the major macroeconomic problems and policies
- analyse the policies for solving unemployment and inflation problems
- explain how fluctuations in the business cycle can have an impact on economic growth including Gross Domestic Product, interest rates, exchange rates, inflation rates, unemployment rates and the federal budget
- Communication
- Problem Solving
- Critical Thinking
- Information Literacy
3 Written Assessment
Assessment 3: Written Assessment (Take Home Paper).
This assessment will consist of a case study, where students will have to apply macroeconomic theory to real life macroeconomic examples and problems covering weeks 9 - 12 of study.
Students will be required to research the case study related topic and answer analytical, discussion, policy-oriented and graphical type of questions.
Assessment 3 will cover learning outcomes 1, 3, 4, & 5.
Weighting = 40%, total word length = 3,000 to 3,500.
Week 12 Friday (7 June 2019) 11:45 pm AEST
Due on Friday of Week 12 by 23:45 Hrs AEST
Feedback and marks will be released after the grade certification.
Assessment Criteria for Assessment Item 3.
Use the DADA framework (Definitions, Assumptions, Diagrams & Analysis) in structuring your answers to all questions. Read the Moodle information provided in PDF file about how to answer questions, write essays and analyse case studies in economics.
Concepts and key terms must be Defined accurately and completely.
The Assumptions upon which the analysis is based must be stated at the outset.
Diagrams must be drawn properly, correctly labelled, and the relations they depict explained.
Critical Analysis overall should be provided by relating economic theory to real-life economic examples.
Plagiarism is a punishable offense. All sources of reference must be acknowledged with in-text referencing and a list of references provided.
Where a question has more than one part, so too should the answer. Ensure complete coverage and apply theory to real life economic examples.
Students should refer to a wide range of sources including textbooks, online resources, research articles, news items related to the questions in the case study.
Assessment 3 requires a significant research effort and it will take some time to develop a quality answer. It is suggested that you commence work early on Assessment 3 rather than leaving it all close to the due date. Penalties (5% of the assessment marks per day) will apply for late submissions without an approved extension.
- explain and apply macroeconomic theory to the major macroeconomic problems and policies
- explain how fluctuations in the business cycle can have an impact on economic growth including Gross Domestic Product, interest rates, exchange rates, inflation rates, unemployment rates and the federal budget
- apply economic concepts to the issues of fiscal policy, monetary policy, exchange rate policy and international deficits and surpluses
- compare and contrast the definitive features of different macroeconomic theories of the 1930s and 1970s
- Communication
- Problem Solving
- Critical Thinking
- Information Literacy
As a CQUniversity student you are expected to act honestly in all aspects of your academic work.
Any assessable work undertaken or submitted for review or assessment must be your own work. Assessable work is any type of work you do to meet the assessment requirements in the unit, including draft work submitted for review and feedback and final work to be assessed.
When you use the ideas, words or data of others in your assessment, you must thoroughly and clearly acknowledge the source of this information by using the correct referencing style for your unit. Using others’ work without proper acknowledgement may be considered a form of intellectual dishonesty.
Participating honestly, respectfully, responsibly, and fairly in your university study ensures the CQUniversity qualification you earn will be valued as a true indication of your individual academic achievement and will continue to receive the respect and recognition it deserves.
As a student, you are responsible for reading and following CQUniversity’s policies, including the Student Academic Integrity Policy and Procedure. This policy sets out CQUniversity’s expectations of you to act with integrity, examples of academic integrity breaches to avoid, the processes used to address alleged breaches of academic integrity, and potential penalties.
What is a breach of academic integrity?
A breach of academic integrity includes but is not limited to plagiarism, self-plagiarism, collusion, cheating, contract cheating, and academic misconduct. The Student Academic Integrity Policy and Procedure defines what these terms mean and gives examples.
Why is academic integrity important?
A breach of academic integrity may result in one or more penalties, including suspension or even expulsion from the University. It can also have negative implications for student visas and future enrolment at CQUniversity or elsewhere. Students who engage in contract cheating also risk being blackmailed by contract cheating services.
Where can I get assistance?
For academic advice and guidance, the Academic Learning Centre (ALC) can support you in becoming confident in completing assessments with integrity and of high standard.
What can you do to act with integrity?
