ECON19033 - Macroeconomics

General Information

Unit Synopsis

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

Level Undergraduate
Unit Level 2
Credit Points 6
Student Contribution Band 3
Fraction of Full-Time Student Load 0.125
Pre-requisites or Co-requisites There are no pre-requisites for the 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).

Class Timetable View Unit Timetable
Residential School No Residential School

Unit Availabilities from Term 1 - 2019

Term 1 - 2019 Profile
Online

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).

Assessment Overview

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.

Assessment Tasks

Assessment Task Weighting
1. Online Quiz(zes) 30%
2. Written Assessment 30%
3. Written Assessment 40%

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

Past Exams

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Previous Feedback

Term 1 - 2018 : The overall satisfaction for students in the last offering of this course was 4.7 (on a 5 point Likert scale), based on a 46.15% response rate.

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.

Source: Student feedback survey
Feedback
Positive feedback on the unit structure, assessment, and interactive Zoom sessions.
Recommendation
Continue with the current structure, assessment, and the delivery approach.
Action Taken
Continued with the current assessment structure and the delivery approach.
Source: Student feedback survey
Feedback
Short videos not addressing some difficult concepts in detail and beyond the textbook.
Recommendation
It is recommended that additional video explanations and helpful resources are provided to simplify complex and challenging concepts.
Action Taken
Additional explanations and video content had been provided to simplify some challenging concepts.
Source: Student Feedback Survey
Feedback
The quality of the assessment and the quick feedback helped the student learning
Recommendation
Continue to provide engaging assessment tasks and quick feedback on assessments.
Action Taken
Nil.
Source: Student Feedback Survey
Feedback
The Moodle site for this unit was easy to navigate.
Recommendation
Continue with the current layout of presenting learning material on Moodle.
Action Taken
Nil.
Source: Student Feedback Survey
Feedback
Some video lecture explanations did not go beyond the textbook.
Recommendation
Provide additional video explanations covering basic and advanced concepts.
Action Taken
Nil.
Unit learning Outcomes

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

  1. explain and apply macroeconomic theory to the major macroeconomic problems and policies
  2. analyse the policies for solving unemployment and inflation problems
  3. 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
  4. apply economic concepts to the issues of fiscal policy, monetary policy, exchange rate policy and international deficits and surpluses
  5. 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)
2 - Written Assessment
3 - Written Assessment
Alignment of Graduate Attributes to Learning Outcomes
Introductory Level
Intermediate Level
Graduate Level
Graduate Attributes Learning Outcomes
1 2 3 4 5
1 - Communication
2 - Problem Solving
3 - Critical Thinking
4 - Information Literacy
Alignment of Assessment Tasks to Graduate Attributes
Introductory Level
Intermediate Level
Graduate Level
Assessment Tasks Graduate Attributes
1 2 3 4 5 6 7 8 9
2 - Written Assessment
3 - Written Assessment
1 - Online Quiz(zes)