| Semester 2, 2021 Online | |
| Short Description: | The Macro-economy and Business |
| Units : | 1 |
| Faculty or Section : | Faculty of Business, Education, Law and Arts |
| School or Department : | School of Business |
| Student contribution band : | Band 4 |
| ASCED code : | 091901 - Economics |
| Grading basis : | Graded |
Staffing
Examiner:
Other Requisites
Students are required to have access to a personal computer, e-mail capabilities and Internet access to UConnect. Current details of computer requirements can be found at .
Rationale
The 2008-09 global financial crisis was one of the most serious macroeconomic shocks to the world economy and had lasting profound impacts on individuals and businesses. This is an example of why it is important for businesses and households to understand the macroeconomic environment in which they operate, and to monitor macroeconomic development. Students of Business Economics need to be familiar with macroeconomic theories and to be able to use the analytical framework offered by this course to evaluate macroeconomic information, events and policies. This course is designed for those students who intend running their own business as well as those pursuing careers in finance and banking, consulting, government, the Reserve Bank of Australia, and in non-profit organisations such as the IMF and the World Bank.
Synopsis
This course focuses on contemporary macroeconomic events and theories. It examines analytical tools such as aggregate demand and aggregate supply, and IS-LM models as well as policy issues in closed and open economy. Emphasis is placed on the development of skills required for macroeconomic analysis in the context of business decision making and government policy.
Objectives
On successful completion of this course, students should be able to:
- use macroeconomic models to explain and solve real world problems;
- use macroeconomic theories to evaluate and improve macroeconomic policies;
- develop collaborative and autonomy skills through engaging in online discussion and participation;
- present macroeconomic analysis in research essay format using language literacy, computer literacy and numeracy;
- communicate the results of an economic analysis to an audience of stakeholders in a potential project or decision;
- design, develop and implement creative and appropriate initiatives with regard to economic and financial decisions.
Topics
| Description | Weighting(%) | |
|---|---|---|
| 1. | Introduction and national income accounting | 10.00 |
| 2. | Economic growth and policy | 10.00 |
| 3. | Aggregate supply and aggregate demand | 10.00 |
| 4. | Inflation and unemployment | 20.00 |
| 5. | IS-LM model in a closed economy | 40.00 |
| 6. | IS-LM model in an open economy | 10.00 |
Text and Materials
ALL textbooks and materials available to be purchased can be sourced from (unless otherwise stated). (https://omnia.usq.edu.au/textbooks/?year=2021&sem=02&subject1=ECO2000)
Please for alternative purchase options from USQ Bookshop. (https://omnia.usq.edu.au/info/contact/)
Reference Materials
Student Workload Expectations
| Activity | Hours |
|---|---|
| Assessments | 30.00 |
| Directed Study | 35.00 |
| Private Study | 100.00 |
Assessment Details
| Description | Marks out of | Wtg (%) | Due Date | Objectives Assessed | Notes |
|---|---|---|---|---|---|
| ONLINE QUIZ | 10 | 10 | 04 Aug 2021 | 1,2,6 | |
| ASSIGNMENT 1 | 40 | 40 | 05 Oct 2021 | ||
| ASSIGNMENT 2 | 40 | 40 | 22 Oct 2021 | (see note 1) | |
| PARTICIPATION | 10 | 10 | 22 Oct 2021 | 1,2,3,4,5,6 | (see note 2) |
Notes
- Students will be provided further instruction regarding the assignment by their examiner via StudyDesk.
- Details of participation will be provided in the course materials. Postings made to StudyDesk after the due date will not be assessed.
Important assessment information
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Attendance requirements:
There are no attendance requirements for this course. However, it is the students' responsibility to study all material provided to them or required to be accessed by them to maximise their chance of meeting the objectives of the course and to be informed of course-related activities and administration. -
Requirements for students to complete each assessment item satisfactorily:
To satisfactorily complete an individual assessment item a student must achieve at least 50% of the marks for that item. -
Penalties for late submission of required work:
Students should refer to the Assessment Procedure (point 4.2.4) -
Requirements for student to be awarded a passing grade in the course:
To be assured of receiving a passing grade a student must achieve at least 50% of the total weighted marks available for the course. -
Method used to combine assessment results to attain final grade:
The final grades for students will be assigned on the basis of the aggregate of the weighted marks obtained for each of the summative assessment items in the course. -
Examination information:
There is no examination in this course. -
Examination period when Deferred/Supplementary examinations will be held:
There is no examination in this course, there will be no deferred or supplementary examinations. -
University Student Policies:
Students should read the USQ policies: Definitions, Assessment and Student Academic Misconduct to avoid actions which might contravene University policies and practices. These policies can be found at .
Assessment Notes
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Referencing in assignments:
Harvard (AGPS) is the referencing system required in this course. Students should use Harvard (AGPS) style in their assignments to format details of the information sources they have cited in their work. The Harvard (AGPS) style to be used is defined by the USQ Library's referencing guide at .