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Global Business Economics (BUSA90072)
Graduate courseworkPoints: 12.5On Campus (Parkville)
Overview
Availability(Quotas apply) | November |
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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 (such as those for financial assets, goods and services, labour, 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 set of frameworks and a method of reasoning.
Having completed the course, a student should be able to read The Australian Financial Review or The Economistintelligently, 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.
Intended learning outcomes
On completion of this subject, students should be able to:
- Obtain useful economic data and explain 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;
- Evaluate the role and motivations of central banks in conducting monetary policy;
- Evaluate the role and motivations of governments in conducting fiscal policy;
- Read a country’s balance of payments accounts and explain the factors governing exchange rate movements and the associated movements in the current and capital accounts.
Last updated: 8 November 2024