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Economics & Public Policy (BUSA90073)
Graduate courseworkPoints: 12.5Not available in 2018
Overview
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Global Business Economics examines the broad environment in which firms operate and explains factors that affect the output growth, inflation, unemployment, interest rates, and exchange rates of a country in a globalized world. These economy-wide variables are beyond a firm’s control but critically influence the decision-making of any firm. The course presents a macroeconomic framework to illustrate the dynamic inter-connections among markets (e.g. those for financial assets, goods and services, labor, and money) and government policies. With the aid of country case studies and current policy research, the course aims to demonstrate that economics is not primarily a set of answers but a method of reasoning.
Having completed the course, a student should be able to read The Australian Financial Review or The Economist intelligently, and make informed judgements on questions of economic policy. The course seeks to demystify economics and to enable students to form their own opinions on economic issues. A related aim is to prepare future general managers to deal with professional economists, both those on their own staff and those in government. A student who completes this course should never again be intimidated by economists or economics.
The course will be aimed at students with little or no background in economics, though students who have completed some undergraduate courses in macroeconomics will benefit from the more practical nature of this course.
Intended learning outcomes
On completion of this subject students should:
- understand basic economic terminology and concepts;
- describe the forces governing economic growth and fluctuations in GDP;
- use economic models to explain business cycle fluctuations, unemployment, and inflation;
- understand the determinants of unemployment and inflation;
- explain the role and motivations of central banks in conducting monetary policy;
- understand the factors governing exchange rate movements and associated movements in current and capital accounts of the balance of payments.
Last updated: 3 November 2022
Eligibility and requirements
Prerequisites
None
Corequisites
None
Non-allowed subjects
None
Inherent requirements (core participation requirements)
The University of Melbourne is committed to providing students with reasonable adjustments to assessment and participation under the Disability Standards for Education (2005), and the Assessment and Results Policy (MPF1326). Students are expected to meet the core participation requirements for their course. These can be viewed under Entry and Participation Requirements for the course outlines in the Handbook.
Further details on how to seek academic adjustments can be found on the Student Equity and Disability Support website: http://services.unimelb.edu.au/student-equity/home
Last updated: 3 November 2022
Assessment
Additional details
Mark Crosby and Nilss Olekalns:
- 8 short tests (20%)
- Throughout subject
- Syndicate report and presentation (20%)
- 2,000 word report and 10 minute presentation
- Final examination (60%)
- Hurdle requirement
- End of subject
Andrew John:
- 4 x quizzes (10%)
- 15 minutes each
- Throughout subject
- Syndicate report and presentation (40%)
- 2,000 word report and 15 minute presentation
- Report due week 8; presentation either week 7, 8 or 9
- Final examination (50%)
- Hurdle requirement
- 2 hours and 15 minutes
- End of subject
Last updated: 3 November 2022
Dates & times
Not available in 2018
Last updated: 3 November 2022
Further information
- Texts
Prescribed texts
There are no specifically prescribed or recommended texts for this subject.
- Available to Study Abroad and/or Study Exchange Students
This subject is available to students studying at the University from eligible overseas institutions on exchange and study abroad. Students are required to satisfy any listed requirements, such as pre- and co-requisites, for enrolment in the subject.
Last updated: 3 November 2022