Introductory Macroeconomics (ECON10003)
Undergraduate level 1Points: 12.5Online and Dual-Delivery (Parkville)
Please refer to the return to campus page for more information on these delivery modes and students who can enrol in each mode based on their location.
About this subject
Contact information
Summer Term
Semester 1
Semester 2
Overview
| Availability | Summer Term - Online Semester 1 - Online Semester 2 - Dual-Delivery |
|---|---|
| Fees | Look up fees |
An introduction to macroeconomic theory and policy. Topics will include economic aggregates such as production and employment, the general level of prices and inflation, the exchange rate, interest rates, monetary and fiscal policies, the balance of payments and economic growth. Analysis is particularly directed to current macroeconomic problems and policy issues.
Intended learning outcomes
- Explain the importance of the circular flow of income to macroeconomics.
- Interpret the meaning and measurement of macroeconomic aggregates such as Gross Domestic Product.
- Explain and use the Keynesian model of national income determination.
- Describe the roles of money and the financial system in the macroeconomy.
- Critically analyse macroeconomic policies appropriate to the achievement of the macroeconomic objectives.
- Explain and apply the aggregate demand/aggregate supply model.
- Explain the key features of the neoclassical model of growth.
- Analyse the factors influencing the balance of payments and the exchange rate.
Generic skills
- High level of development: written communication; collaborative learning; critical thinking; synthesis of data and other information; application of theory to practice.
- Moderate level of development: oral communication; problem solving; team work; interpretation and analysis; evaluation of data and other information; accessing data and other information from a range of sources; receptiveness to alternative ideas.
- Some level of development: statistical reasoning.
Last updated: 14 March 2025
Eligibility and requirements
Prerequisites
| Code | Name | Teaching period | Credit Points |
|---|---|---|---|
| ECON10004 | Introductory Microeconomics |
Semester 2 (Dual-Delivery - Parkville)
Semester 1 (Dual-Delivery - Parkville)
|
12.5 |
AND
One of the following prerequisite options
Option 1
Admission into one of the following:
- B-COM Bachelor of Commerce
- B-SCI Bachelor of Science
Option 2
| Code | Name | Teaching period | Credit Points |
|---|---|---|---|
| MAST10012 | Introduction to Mathematics | Semester 1 (Dual-Delivery - Parkville) |
12.5 |
Option 3
A study score of at least 25 in VCE Mathematical Methods (Units 3 and 4) or Specialist Mathematics (Units 3 and 4), or equivalent
Option 4
All of
| Code | Name | Teaching period | Credit Points |
|---|---|---|---|
| MAST10014 | Foundation Mathematics 1 | Semester 1 (Dual-Delivery - Parkville) |
12.5 |
| MAST10015 | Foundation Mathematics 2 | Semester 2 (On Campus - Parkville) |
12.5 |
Corequisites
None
Non-allowed subjects
None
Recommended background knowledge
Please refer to Prerequisites and Corequisites.
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: 14 March 2025
Assessment
Semester 1
| Description | Timing | Percentage |
|---|---|---|
Multiple choice test, end of week 4
| Week 4 | 5% |
Multiple choice test, end of week 11
| Week 11 | 5% |
Assignment 1: Group short answer article review assignment with groups of up to three students with a total word limit of 1000 words or less for the group submission
| 10% | |
Assignment 2: Group short answer written response assignment with groups of up to three students with a total word limit of 1000 words or less for the group submission
| 10% | |
Tutorial attendance and participation, weekly | Throughout the teaching period | 10% |
End-of-semester examination
| During the examination period | 60% |
Semester 2
| Description | Timing | Percentage |
|---|---|---|
Multiple choice test, end of week 4
| Week 4 | 5% |
Multiple choice test, end of week 11
| Week 11 | 5% |
Assignment 1: Group short answer article review assignment with groups of up to three students with a total word limit of 1000 words or less for the group submission
| 10% | |
Assignment 2: Group short answer written response assignment with groups of up to three students with a total word limit of 1000 words or less for the group submission
| 10% | |
Tutorial attendance and participation, weekly | Throughout the teaching period | 10% |
End-of-semester examination
| During the examination period | 60% |
Summer Term
| Description | Timing | Percentage |
|---|---|---|
Multiple choice test
| Week 3 | 5% |
Multiple choice test
| Week 6 | 5% |
One individual short answer article review assignment with a total word limit of 2000 words or less.
| Week 5 | 20% |
Tutorial attendance and participation, weekly | Throughout the teaching period | 10% |
An examination
| During the examination period | 60% |
Additional details
Important Semester 2 online examination information: This examination is the equivalent of a 2-hour assessment; however, students are provided with 3-hours to accommodate the time that will be required for typesetting of mathematical expressions.
Last updated: 14 March 2025
Dates & times
- Summer Term - Online
Principal coordinator Nahid Khan Mode of delivery Online Contact hours Six hours of lectures, tutorials and workshops per week Total time commitment 170 hours Teaching period 4 January 2021 to 14 February 2021 Last self-enrol date 12 January 2021 Census date 22 January 2021 Last date to withdraw without fail 12 February 2021 Assessment period ends 28 February 2021 Summer Term contact information
- Semester 1 - Online
Principal coordinators Bruce Preston and Daeha Cho Mode of delivery Online Contact hours Two 1-hr Lectures and one 1-hr Tutorial per week Total time commitment 170 hours Teaching period 1 March 2021 to 30 May 2021 Last self-enrol date 12 March 2021 Census date 31 March 2021 Last date to withdraw without fail 7 May 2021 Assessment period ends 25 June 2021 Semester 1 contact information
- Semester 2 - Dual-Delivery
Principal coordinator Chris Edmond Mode of delivery Dual-Delivery (Parkville) Contact hours Two 1-hr Lectures and one 1-hr Tutorial per week Total time commitment 170 hours Teaching period 26 July 2021 to 24 October 2021 Last self-enrol date 6 August 2021 Census date 31 August 2021 Last date to withdraw without fail 24 September 2021 Assessment period ends 19 November 2021 Semester 2 contact information
Time commitment details
170 hours
Last updated: 14 March 2025
Further information
- Texts
- Related Handbook entries
This subject contributes to the following:
Type Name Course Bachelor of Environments Major Economics Major Property Breadth Track Contemporary Public Economic Policy Breadth Track Global Economic Issues - Breadth options
This subject is available as breadth in the following courses:
- Bachelor of Arts
- Bachelor of Biomedicine
- Bachelor of Design
- Bachelor of Environments
- Bachelor of Fine Arts (Acting)
- Bachelor of Fine Arts (Animation)
- Bachelor of Fine Arts (Dance)
- Bachelor of Fine Arts (Film and Television)
- Bachelor of Fine Arts (Music Theatre)
- Bachelor of Fine Arts (Production)
- Bachelor of Fine Arts (Screenwriting)
- Bachelor of Fine Arts (Theatre)
- Bachelor of Fine Arts (Visual Art)
- Bachelor of Music
- Bachelor of Science
- Available through the Community Access Program
About the Community Access Program (CAP)
This subject is available through the Community Access Program (also called Single Subject Studies) which allows you to enrol in single subjects offered by the University of Melbourne, without the commitment required to complete a whole degree.
Please note Single Subject Studies via Community Access Program is not available to student visa holders or applicants
Entry requirements including prerequisites may apply. Please refer to the CAP applications page for further information.
- Available to Study Abroad and/or Study Exchange Students
Last updated: 14 March 2025