No offerings have been identified for this subject in 2015
ECO120 Macroeconomics (8)
Abstract| Macroeconomic concepts and principles are used to study the structure and performance of the Australian economy. Topics include national income measurement and the business cycle; theories of income determination, money, financial system and the monetary policy; balance of payments and trade; macroeconomic policy issues; stagflation and economic growth. |
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+ Subject Availability Modes and Location
Continuing students should consult the SAL for current offering details prior to contacting their course coordinator: ECO120
Where differences exist between the handbook and the SAL, the SAL should be taken as containing the correct subject offering details.
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Subject information| Duration | Grading System | School: |
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| One session | HD/FL | School of Accounting and Finance |
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Enrolment restrictions|
Not available to students who have completed ECO100 or RMBU1642. |
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Learning OutcomesUpon successful completion of this subject, students should:
- be able to demonstrate understanding of the meaning and significance of basic macroeconomic concepts and principles;
- be able to show familiarity with the key theoretical frameworks in macroeconomics and be able to manipulate simple macroeconomic models in both diagrammatic and quantitative terms;
- be able to demonstrate understanding of the theories and evidence relating to the determination of aggregate output income and expenditure;
- be able to evaluate the theories and policy prescriptions of major schools of economics and their relation to government macro-policy;
- be able to logically relate basic macroeconomic theory to current macroeconomic policy;
- be able to demonstrate understanding of the fundamentals of the current debate about budgetary, monetary, wage and exchange rate policy and how to promote economic growth;
- be able to demonstrate understanding of the special problems faced by Australia as a relatively small economy, operating in a highly volatile international trading environment;
- be able to demonstrate understanding of the general nature of the Australian economy and the structure of its industry, government, household, finance and trade sectors;
- be able to critically analyse, evaluate and write short essays / reports / policy measures. |
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SyllabusThe subject will cover the following topics:
Introduction to Macroeconomics: definition of key macro concepts.
Macroeconomic concepts: economic growth, unemployment and inflation.
Introduction to income determination: measuring economic aggregates.
Income determination continued: consumption, investment and government expenditure and net exports.
Business Investment and Investment Multiplier in the Macro-economy.
The Keynesian Model: Aggregate Expenditure, Aggregate Demand and Aggregate Supply.
Introduction to Fiscal Policy - Role of the Treasury.
Government Budgets, Multipliers and Public Policy.
Money, Money Supply and the Australian Financial System.
Banking, Credit creation and Money Multipliers.
Monetary Theory and Policy.
The Contemporary Policy Debate: Fiscal, Monetary and Wages Policy.
External Accounts, Balance of Payments and International Finance. |
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The information contained in the 2015 CSU Handbook was accurate at the date of publication: 01 October 2015. The University reserves the right to vary the information at any time without notice.
