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The information below is relevant from 24/02/2014 to 08/03/2015
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ECON19033 - Macroeconomics

General Information

Unit Synopsis

This course 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 SCA Band 4
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 3 - 2014

Term 1 - 2017 Profile
Distance
Term 1 - 2018 Profile
Distance
Term 1 - 2019 Profile
Online
Term 1 - 2020 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. Written Assessment 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 - 2020 : The overall satisfaction for students in the last offering of this course was 4.4 (on a 5 point Likert scale), based on a 53.33% 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 Evaluation Survey
Feedback
There was a lot of good content provided, including current media updates linking theory to current events.
Recommendation
Continue to provide current media and other resources relating to the topics and theory covered in the Unit.
Action Taken
Efforts were made to provide engaging and current material relating to the macroeconomic impacts of COVID-19.
Source: Student Evaluation Survey
Feedback
The last part of Assessment 3 requires more information.
Recommendation
Provide detailed and clear instructions on the final part of Assessment 3.
Action Taken
Minor adjustments were made to assessment 3 to improve clarity of instruction.
Source: Student correspondence
Feedback
Swift response to queries and continuous engagement throughout the term are appreciated.
Recommendation
Continue to support students as swiftly as possible and maintain regular communication throughout the term about student progress.
Action Taken
Student queries and communication were handled in a swift manner. Personalised and rapid feedback was provided during the Term.
Source: Student Evaluation Survey
Feedback
The unit presentation, the textbook and the quality of teaching were outstanding.
Recommendation
It is recommended to continue to provide high-quality learning material.
Action Taken
Nil.
Source: Student Evaluation Survey
Feedback
The assessments were aligned with real world events (COVID-19) and this made the unit very interesting and enjoyable.
Recommendation
It is recommended to continue to incorporate topical and real-world examples into assessment tasks.
Action Taken
Nil.
Source: Student Evaluation Survey
Feedback
An after-hours Zoom session would be beneficial for distance students who are working.
Recommendation
It is recommended to reconsider scheduling the Zoom session in after working hours for greater student participation.
Action Taken
Nil.
Unit learning Outcomes

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

  1. understand and explain contemporary macroeconomic theory at an intermediate level
  2. explore and analyse the major macroeconomic problems and policies of the late 1990s and the 21st century
  3. understand and analyse the policies for solving unemployment and inflation problems
  4. explain how fluctuations in the business cycle can have an impact on Gross Domestic Product (GDP), interest rates, exchange rates, inflation rates, unemployment rates and the federal budget
  5. understand the working of fiscal policy, monetary policy, and international trade policy
  6. compare and contrast the definitive features of different macroeconomic theories of the 1930s and 1970s
  7. understand the reasons for and critically evaluate the emergence of new market economies and economic development theories.

 

Upon completion of this course you should be able to understand and explain contemporary macroeconomic theory and explore and analyse the major macroeconomic problems and policies of the late 1990s and the 21st century. Understand and analyse the policies for solving unemployment and inflation problems. Explain how fluctuations in the business cycle can have an impact on Gross Domestic Product (GDP), interest rates, exchange rates, inflation rates, unemployment rates and the federal budget. Further understand the working of fiscal policy, monetary policy, and international trade policy and compare and contrast the definitive features of different macroeconomic theories of the 1930s and 1970s. Finally, critically evaluate the emergence of new market economies and economic development theories.

Alignment of Assessment Tasks to Learning Outcomes
Assessment Tasks Learning Outcomes
1 2 3 4 5 6 7
1 - Written Assessment
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 6 7
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
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
1 - Written Assessment
2 - Written Assessment
3 - Written Assessment