Subject details

At the completion of this subject students will be able to:

  1. Describe, explain and apply basic macroeconomic terms and concepts
  2. Use simple macroeconomic models to interpret the Australian economy
  3. Explain the macroeconomic environment in Australia
  4. Use simple macroeconomic models to analyse the impact of changes in the economy
  5. Evaluate current macroeconomic events, policy issues and debates from an economic perspective.
  • Topics

    • GDP: It's Measurement
    • Unemployment and Inflation
    • Business Cycles and Long-Run Economic Growth
    • Aggregate Expenditure and Output in the Short-Run
    • Aggregate Demand - Aggregate Supply (AD-AS Model)
    • Money and the Reserve Bank
    • Monetary Policy
    • Fiscal Policy
    • Macroeconomics in an Open Economy
  • Study resources

    • Instructional Methods

      • Chat Rooms
      • Disscusion forum/Discussion Board
      • Embedded Multimedia
      • Glossary
      • Online Quizzes/Tests
      • Online assignment submission
      • Standard Media
      • Virtual Classroom
      • Web links
    • Online Materials

      • Printable format materials
      • Online Assessment
      • FAQs
      • Audio-Video streaming
      • Quizzes
    • Other Materials

      • Video

Entry Requirements

Others

There are no pre-requisites for this subject. However, if you have not previously studied economics, you may wish to consider undertaking ECO11 'Principles of Economics' before enrolling in ECO12.

Special requirements

  • OtherDetails -

    To obtain a pass grade overall students will normally need to achieve at least 40% in the final examination

The aim of this subject is to familiarise students with fundamental macroeconomic principles and the Australian economy in an international economic setting.

This subject 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.

  • Continuous Assessment (25%)
  • 1500 words (25%)
  • Invigilated Exam - 3 hours (50%)

Textbooks are subject to change within the academic year. Students are advised to purchase their books no earlier than one to two months before the start of a subject.

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