1. Handbook
  2. Subjects
  3. Introductory Macroeconomics
  4. Print

Introductory Macroeconomics (ECON10003)

Undergraduate level 1Points: 12.5On Campus (Parkville)

You’re viewing the 2019 Handbook:
Or view archived Handbooks

Overview

Year of offer2019
Subject levelUndergraduate Level 1
Subject codeECON10003
Campus
Parkville
Availability
Summer Term
Semester 1
Semester 2
FeesSubject EFTSL, Level, Discipline & Census Date

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.

Eligibility and requirements

Prerequisites

Code Name Teaching period Credit Points
ECON10004 Introductory Microeconomics
Semester 1
Semester 2
12.5

And, for students who did not achieve a study score of at least 25 in Mathematical Methods or Specialist Mathematics in VCE Units 3 & 4 or equivalent, successful completion of: MAST10012. OR both MAST10014 Foundation Mathematics 1 and MAST10015 Foundation Mathematics 2.

Code Name Teaching period Credit Points
MAST10012 Introduction to Mathematics
Summer Term
Semester 1
12.5

Corequisites

None

Non-allowed subjects

None

Recommended background knowledge

Please refer to Prerequisites and Corequisites.

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

Assessment

Description

Summer

  • Two 30-minute multiple choice tests, weeks 3 and 6 (2 x 5% each, total 10%)
  • One group short answer article review assignment with groups of up to three students with a total word limit of 2000 words or less for the group submission, due week 5 (20%)
  • A 2-hour end-of-semester examination, end of semester examination period (60%)
  • Tutorial attendance and participation, weekly (10%)
  • To pass this subject students must pass the end of semester examination.

Semesters 1 & 2

  • Two 30-minute multiple choice tests, end of weeks 4 and 11 (10%)
  • 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%)
  • A 2-hour end-of-semester examination, end of semester examination period (60%)
  • Tutorial attendance and participation, weekly (10%)
  • To pass this subject students must pass the end of semester examination.

Dates & times

  • Summer Term
    Principal coordinatorGraham Richards
    Mode of deliveryOn Campus — Parkville
    Contact hoursSix hours of lectures, tutorials and workshops per week
    Total time commitment170 hours
    Teaching period 7 January 2019 to 17 February 2019
    Last self-enrol date15 January 2019
    Census date18 January 2019
    Last date to withdraw without fail15 February 2019
    Assessment period ends 3 March 2019

    Summer Term contact information

  • Semester 1
    Principal coordinatorNahid Khan
    Mode of deliveryOn Campus — Parkville
    Contact hoursTwo 1-hr Lectures and one 1-hr Tutorial per week
    Total time commitment170 hours
    Teaching period 4 March 2019 to 2 June 2019
    Last self-enrol date15 March 2019
    Census date31 March 2019
    Last date to withdraw without fail10 May 2019
    Assessment period ends28 June 2019

    Semester 1 contact information

  • Semester 2
    Principal coordinatorsNahid Khan and Lawrence Uren
    Mode of deliveryOn Campus — Parkville
    Contact hoursTwo 1-hr Lectures and one 1-hr Tutorial per week
    Total time commitment170 hours
    Teaching period29 July 2019 to 27 October 2019
    Last self-enrol date 9 August 2019
    Census date31 August 2019
    Last date to withdraw without fail27 September 2019
    Assessment period ends22 November 2019

    Semester 2 contact information

Time commitment details

170 hours

Further information

Last updated: 10 August 2019