Macroeconomics 1
ECO12
Overview
Level of study: What does Undergraduate Level 1 mean?
Undergraduate Level 1
EFTSL: What does EFTSL mean?
0.125
Delivery Method: What does delivery method mean?
Web Supplemented
Prerequisites: What are the prerequisites?
Duration:
13 weeks
Government loans available:
FEE-HELP FEE-HELP
Domestic student fee:
$1,090.00 (AUD)
International student fee:
$1,315.00 (AUD)
Description
This unit is an introduction to macroeconomics and includes topics such as: the economy over time, fundamental relationships in the macroeconomy; the introduction of simple macroeconomic models; the simple aggregate demand/aggregate supply model of the macroeconomy; money; the open economy; economic policy; contemporary economic issues.
Prerequisites
Recommended prerequisites
You are recommended to have completed the following unit(s) or have equivalent knowledge before starting this unit:
You should also have a knowledge of basic algebra, interpretation and the use of graphs.
Assessment
- Assignment — Applied Writing Exercise (20%)
- Invigilated Exam — 3 hours (50%)
- Test 1 — Online test (15%)
- Test 2 — Online test (15%)
Learning Outcomes
At the completion of this unit students will be able to:
- describe, explain and apply basic macroeconomic terms and concepts
- use simple macroeconomic models to interpret the Australian economy
- explain the macroeconomic environment in Australia
- use simple macroeconomic models to analyse the impact of changes in the economy
- evaluate current macroeconomic events, policy issues and debates from an economic perspective.
Topics
This unit addresses the following topics.
| Number | Topic |
|---|---|
| 1 | Macroeconomics and national objectives |
| 2 | Spending in the economy |
| 3 | The multiplier |
| 4 | The aggregate demand and supply model |
| 5 | Money and the financial system |
| 6 | Australia in the international economy |
| 7 | Demand management policies and feedbacks |
| 8 | Supply-side policies |
Study Resources
This unit is delivered using the following methods and materials:
Instructional Methods
- Chat rooms
- Discussion Forum/Discussion Board
- Embedded Multimedia
- Glossary
- Interactive Games
- Online Quizzes/Tests
- Online assignment submission
- Podcasting/Lecture capture
- Streaming Multimedia
- Web links
Print based materials
- Study Guide
- Welcome Letter
Online materials
- Audio/Video - Streaming
- Online Assessment
- Printable format materials
- Quizzes
- Resources and Links
Textbooks
Textbook information for this unit is currently being updated and will be available soon. Please check back regularly for updates. Alternatively, visit the Unibooks website and enter the unit details to search for available textbooks.
Relevant Courses
This unit is a core requirement in the following courses:
- Bachelor of Business (Financial Planning), RMIT University
- Bachelor of Business (Logistics and Supply Chain Management), RMIT University
- Bachelor of Commerce (Sport Management), Curtin University
This unit is part of a major, minor, stream or specialisation in the following courses:
This unit is an approved elective in the following courses:
- Bachelor of Technology (Computing Studies), RMIT University
- Bachelor of Technology (Information Systems), Swinburne University of Tnlgy
- Bachelor of Accounting, University of South Australia
This unit may be eligible for credit towards other courses:
- Many undergraduate courses on offer through OUA include 'open elective' where any OUA unit can be credited to the course. You need to check the Award Requirements on the course page for the number of allowed open electives and any level limitations.
- In other cases, the content of this unit might be relevant to a course on offer through OUA or elsewhere. In order to receive credit for this unit in the course you will need to supply the provider institution with a copy of the Unit Profile in the approved format, which you can download here. Note that the Unit Profile is set at the start of the year, and if textbooks change this may not match the Unibooks textbook list.
