Enrolments for 2021 have closed.
Economic Policy in Action
Undergraduate | TAS-BEA121 | 2021
Course information for 2021 intake View information for 2024 course intake
- Study method
- 100% online
- Assessments
- Subject may require attendance
- Entry requirements
- No ATAR needed,
- No prior study
- Duration
- 14 weeks
HECS-HELP and FEE-HELP available
Economic Policy in Action
About this subject
Upon completion of this subject, the student should be able to:
- Define, measure and interpret key microeconomic and macroeconomic concepts
- Apply basic microeconomic and macroeconomic models to describe the impact of global and local events, social change, government policy on markets, market participants and macroeconomy
- Develop and critically evaluate basic microeconomic and macroeconomic policy and identify welfare implications for different members of society
- 1. Week 1 - Unit Introduction The Measurement of Gross Domestic Product The Measurement of Price Level and Inflation
- 1.1) Group problem solving session 1 (group participation assessed)
- 1.2) Reading: Chapter 1
- 2. Week 2 - Saving, Investment and Financial Markets Nominal and Real Interest Rates
- 2.1) Group problem solving session 2 (group participation assessed)
- 2.2) Reading: Chapter 2
- 3. Week 3 - The Labour Market and Unemployment
- 3.1) Group problem solving session 4 (group participation assessed)
- 3.2) Reading: Chapter 3
- 4. Week 4 - Short Term Economic Fluctuations and the Business Cycle Output Gaps and the Okun’s Law Four Components of Aggregate Expenditure
- 4.1) Group problem solving session 4 (group participation assessed)
- 4.2) Reading: Chapters 4 and 5
- 5. Week 5 - Short-run Macreoconomic Analysis Four Sector Model and the Output Gap The Multiplier
- 5.1) Quiz 1 Group problem solving session 5
- 5.2) Reading: Chapter 5
- 6. Week 6 - Fiscal Policy and Business Cycle Fiscal Policy and Debt Stabilization Contemporary Fiscal Policy
- 6.1) Group problem solving session 6 (group participation assessed)
- 6.2) Reading: Chapter 6
- 7. Week 7 - Determinants of Money Supply and Demand Monetary Policy and the Reserve Bank
- 7.1) Group problem solving session 7 (group participation assessed)
- 7.2) Reading: Chapter 7
- 8. Mid-Semester Break
- 8.1) n/a
- 9. Week 8 - RBA's Inflation Targeting Rule Determinants of output, inflation, wage rate and the real interest rate in the short run and in the long run
- 9.1) Group problem solving sessions 8 (group participation assessed)
- 9.2) Reading: Chapter 8
- 10. Week 9 - The Demand for Equilibrium Output and Aggregate Demand Short and Long Run Aggregate Supply Monetary Policy and Fiscal Policy in the face of economic disturbances
- 10.1) Quiz 1 Group problem solving sessions 9
- 10.2) Reading: Chapters 9 and 10
- 11. Week 10 - Sources of Economic Growth The Production Function Growth Accounting
- 11.1) Group problem solving sessions 10 (group participation assessed)
- 11.2) Reading: Chapters 11 and 12
- 12. Week 11 - Exchange Rate and the Open Economy. Determinants of exchange rate. Fixed vs Floating. Nominal vs Real
- 12.1) Discussion about the Assignment. Group problem solving sessions 11 (group participation assessed)
- 12.2) Reading: Chapter 15
- 13. Week 12 - Balance of Payments: Net Exports. International Capital Flows. Exchange rate
- 13.1) Group Assingment due. Group problem solving sessions 12 (group participation assessed)
- 13.2) Reading: Chapter 15
- 14. Week 13 - Review Lecture
- 14.1) n/a
- 15. Exam Period
- 15.1) n/a
BEA121 is the second of two foundation level economics subjects offered by the Tasmanian School of Business and Economics. Taken together with BEA111 Principles of Economics 1, BEA121 provides you with a comprehensive introduction to macroeconomic theory and policy, and forms a strong foundation if you are planning to continue your study of economics.
BEA121 is a compulsory subject in the Bachelor of Economics (BEc) degree. It is also a compulsory subject in all the Economic majors offered by the Tasmanian School of Business and Economics, and is a nominated elective in a wide range of other programs throughout the University of Tasmania. The subject introduces a wide range of macroeconomic concepts that can be used to understand business reports; to investigate economic issues in a scientific way; to address issues of real importance to business performance and to communicate information in an effective manner.
- Final Exam (50%)
- Group Assignment (25%)
- Weekly Quiz (10%)
- Workshop Submission and In-Workshop Participation (15%)
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