Handbook

ECON10003 Introductory Macroeconomics

Credit Points: 12.5
Level: 1 (Undergraduate)
Dates & Locations:

This subject has the following teaching availabilities in 2017:

Summer Term, Parkville - Taught on campus.Show/hide details
Pre-teaching Period Start not applicable
Teaching Period 02-Jan-2017 to 12-Feb-2017
Assessment Period End 26-Feb-2017
Last date to Self-Enrol 10-Jan-2017
Census Date 13-Jan-2017
Last date to Withdraw without fail 10-Feb-2017

Semester 1, Parkville - Taught on campus.Show/hide details
Pre-teaching Period Start not applicable
Teaching Period 27-Feb-2017 to 28-May-2017
Assessment Period End 23-Jun-2017
Last date to Self-Enrol 10-Mar-2017
Census Date 31-Mar-2017
Last date to Withdraw without fail 05-May-2017

Semester 2, Parkville - Taught on campus.Show/hide details
Pre-teaching Period Start not applicable
Teaching Period 24-Jul-2017 to 22-Oct-2017
Assessment Period End 17-Nov-2017
Last date to Self-Enrol 04-Aug-2017
Census Date 31-Aug-2017
Last date to Withdraw without fail 22-Sep-2017


Timetable can be viewed here.
For information about these dates, click here.
Time Commitment: Contact Hours: Summer Semester - Six hours of lectures, tutorials and workshops per week Semester 1 & Semester 2 - Three hours of lectures, tutorials and workshops per week
Total Time Commitment:

170 hours

Prerequisites:
Subject
Study Period Commencement:
Credit Points:
Semester 1, Semester 2
12.50

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:

Subject
Study Period Commencement:
Credit Points:
Summer Term, Semester 1
12.50
Corequisites:

None

Recommended Background Knowledge:

Please refer to Prerequisites and Corequisites.

Non Allowed Subjects:

None

Core Participation Requirements:

For the purposes of considering request for Reasonable Adjustments under the Disability Standards for Education (Cwth 2005), and Student Support and Engagement Policy, academic requirements for this subject are articulated in the Subject Overview, Learning Outcomes, Assessment and Generic Skills sections of this entry.

It is University policy to take all reasonable steps to minimise the impact of disability upon academic study, and reasonable adjustments will be made to enhance a student's participation in the University's programs. Students who feel their disability may impact on meeting the requirements of this subject are encouraged to discuss this matter with a Faculty Student Adviser and Student Equity and Disability Support: http://services.unimelb.edu.au/disability

Coordinator

Dr Jonathan Thong, Dr Lawrence Uren, Ms Nahid Khan

Contact

Sum: n.khan@unimelb.edu.au
Sem 1: jonathan.thong@unimelb.edu.au
Sem 2: luren@unimelb.edu.au, n.khan@unimelb.edu.au

Subject Overview:

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.

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.
Assessment:

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 1000 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 7 (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.
Prescribed Texts:

You will be advised of prescribed texts by your lecturer.

Breadth Options:

This subject potentially can be taken as a breadth subject component for the following courses:

You should visit learn more about breadth subjects and read the breadth requirements for your degree, and should discuss your choice with your student adviser, before deciding on your subjects.

Fees Information: Subject EFTSL, Level, Discipline & Census Date
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.
Related Course(s): Bachelor of Environments
Related Majors/Minors/Specialisations: Economics
Property major
Related Breadth Track(s): Contemporary Public Economic Policy
Global Economic Issues

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