Queensland University of Technology
Area of Study
Taught In English
PrerequisitesEFB223 or EFB102
Course Level Recommendations
ISA offers course level recommendations in an effort to facilitate the determination of course levels by credential evaluators.We advice each institution to have their own credentials evaluator make the final decision regrading course levels.
Recommended U.S. Semester Credits3 - 4
Recommended U.S. Quarter Units4 - 6
Hours & Credits
OverviewSynopsis:This unit develops an analytical framework which can be used to understand and evaluate the macroeconomic performance of the Australian economy. It also provides extensive discussion of the monetary and fiscal policy approaches that are taken to maintain a sustainable economy with low inflation and low unemployment. Key issues addressed include unemployment, inflation, economic growth, saving and the balance of payments.Learning OutcomesUpon completion of this unit, you should be able to:
ContentIn this unit you will be introduced to the following topics:
- Apply knowledge of fundamental macroeconomic theories and ideas to analyse real world economic issues
- Critically analyse and evaluate government policy decisions and their intended outcomes for the aggregate economy, including consequences and limitations
- Critically analyse and evaluate monetary policies and their intended outcomes for the aggregate economy, including consequences and limitations
- Apply teamwork knowledge skills to work effectively and responsibly with others
Approaches to Teaching and LearningThe content of this unit is delivered via a lecture (two hours per week), an open workshop (one hour per week), a tutorial program (one hour per week), and the prescribed textbook.Resources such as additional study material, weekly assignments and the solutions to the assignments are provided on the unit's Blackboard site. Students will need their student number and password to access the Blackboard site.Students are required to check the Blackboard site regularly for new announcements and materials.To complement classroom learning, and to provide an opportunity for self-learning, MyEconLab has been integrated into this unit. Students will be able to practice, check their understanding of the learning material, get feedback, and track individual progress by using MyEconLab, which can be accessed via the unit's Blackboard site. There is no additional fee for using MyEconLab for the students.Students are expected to study the relevant material (textbook and notes), complete the assignment provided beforeattending the lecture/workshop/tutorial , so that effective use can be made of the time allocated to solve difficulties and discuss further issues. It is not the purpose of the workshop and tutorial to work through each question from scratch, but rather to resolve any problems or difficulties that arise from the week's work.The assignments form an important part of the work in this unit and are a good indicator of possible examination questions. Historically, students who do not keep up with weekly tutorial work have a very poor success rate.AssessmentAssessment name: Online QuizDescription: During the course of the semester, six online quizzes will be conducted. The five best scores will be considered relevant for the final grade. Each quiz will be based on the material covered in earlier week(s). Length/Duration: 15 - 30 minutes per quiz, depending on the number of questions.Formative or Summative: Formative and SummativeRelates to objectives: 1Weight: 20Internal or external: InternalGroup or individual: IndividualDue date: Week 3-13Assessment name: Research ProjectDescription: During the course of the semester, the students will write a project on a relevant macroeconomic topic. The students are required to form groups (number of members in a group to be specified later) and engage in collaborative activities to complete the project. Each member of a group is also required to write about own contributions to the project.Length/Duration: A maximum of 20 A4 size pages pages including all tables, figures, and appendices (12 font size, double spaced, 1" margin all around).Formative or Summative: Formative and SummativeRelates to objectives: 1, 2, 3, 4Weight: 30Internal or external: InternalGroup or individual: GroupDue date: Week 13Assessment name: End of Semester ExaminationDescription: Compulsory, closed book, comprehensive final examination - The end of semester exam is closed book and will consist of multiple choice questions and short answer type questions. In a short answer type question, the student may be asked to write a short essay where she or he can demonstrate professional communication skills. Note: Negative marking on the multiple choice questions will not be employed. To successfully complete the final exam, students must demonstrate their ability to use the tools they have acquired in broader contexts, in particular with respect to policy making in the real world.Length/Duration: 2 hoursFormative or Summative: SummativeRelates to objectives: 1, 2, 3Weight: 50Internal or external: InternalGroup or individual: IndividualDue date: Central exam period
- Functioning of goods and money markets
- Theory of unemployment
- The aggregate demand-aggregate supply framework
- Short run economic fluctuations
- Inflation and its connection with unemployment
- Monetary and fiscal policy
- Economic growth
- Open economy and exchange rate
Courses and course hours of instruction are subject to change.
Eligibility for courses may be subject to a placement exam and/or pre-requisites.
Some courses may require additional fees.
Credits earned vary according to the policies of the students' home institutions. According to ISA policy and possible visa requirements, students must maintain full-time enrollment status, as determined by their home institutions, for the duration of the program.