This subject examines the behaviour of aggregate economic variables like GDP, interest, inflation, exchange and unemployment rates and studies the aggregate demand and supply. Topics include fiscal and monetary policies, budget surplus and deficit, foreign trade and balance of payments and the determination of exchange rates. The subject applies macroeconomic principles to the firm's problem of predicting changes in its macroeconomic environment. We will develop some theoretical models that will help to understand how key economic variables in the economy are determined and how different types of government policies work. We will review and analyse different macroeconomic issues and events from the perspective of the business community as well as government policy-makers, including: business cycles and growth, interest rates and exchange rates, causes of trade deficits, consequences of government deficits, and short- and long-term effects of monetary policy. To achieve these objectives we will acquaint ourselves with the set of tools - terminology, methodology, and the way of thinking - of an economist and practice using these.
Academic unit: Bond Business School Subject code: ECON71-202 Subject title: ECON71-202: Macroeconomics Subject level: Postgraduate Semester/Year: September 2017 Credit points: 10.000
Delivery & attendance
Timetable: https://bond.edu.au/timetable Delivery mode: Standard Workload items:
- Personal Study Hours: x12 () - Study time and reviewing materials
- Lecture: x12 () - Weekly Lecture
- Tutorial: x12 () - Weekly Tutorial
Attendance and learning activities:
- Robin Ellen Stonecash,Joshua Gans,Jan Libich,Stephen King,N. Gregory Mankiw,Martin Byford Principles of Macroeconomics. 6th, Cengage Learning
[email protected] & Email: [email protected] is the online learning environment at Bond University and is used to provide access to subject materials, lecture recordings and detailed subject information regarding the subject curriculum, assessment and timing. Both iLearn and the Student Email facility are used to provide important subject notifications. Additionally, official correspondence from the University will be forwarded to students’ Bond email account and must be monitored by the student.
To access these services, log on to the Student Portal from the Bond University website as www.bond.edu.au
|Academic unit:||Bond Business School|
|Subject title:||ECON71-202: Macroeconomics|
|Attendance and learning activities:|
|[email protected] & Email:||[email protected] is the online learning environment at Bond University and is used to provide access to subject materials, lecture recordings and detailed subject information regarding the subject curriculum, assessment and timing. Both iLearn and the Student Email facility are used to provide important subject notifications. Additionally, official correspondence from the University will be forwarded to students’ Bond email account and must be monitored by the student.
Assumed knowledge is the minimum level of knowledge of a subject area that students are assumed to have acquired through previous study. It is the responsibility of students to ensure they meet the assumed knowledge expectations of the subject. Students who do not possess this prior knowledge are strongly recommended against enrolling and do so at their own risk. No concessions will be made for students’ lack of prior knowledge.
Assurance of learning
Assurance of Learning means that universities take responsibility for creating, monitoring and updating curriculum, teaching and assessment so that students graduate with the knowledge, skills and attributes they need for employability and/or further study.
At Bond University, we carefully develop subject and program outcomes to ensure that student learning in each subject contributes to the whole student experience. Students are encouraged to carefully read and consider subject and program outcomes as combined elements.
Program Learning Outcomes (PLOs)
Program Learning Outcomes provide a broad and measurable set of standards that incorporate a range of knowledge and skills that will be achieved on completion of the program. If you are undertaking this subject as part of a degree program, you should refer to the relevant degree program outcomes and graduate attributes as they relate to this subject.
Subject Learning Outcomes (SLOs)
On successful completion of this subject the learner will be able to:
- Understand elements of macroeconomic theory and its applications to policy debate.
- Understand specific issues in macroeconomics pertinent to recent changes to the global economic environment and policy conditions faced by the Australian Government and the Reserve Bank of Australia.
- Provide a coherent framework for analyzing the world we live in.
Type Task % Timing Outcomes assessed Paper-based Examination (Closed) Final Examination 50% Final Examination Period 1,2,3 Paper-based Examination (Limited Open) Mid-semester Examination. 1 A4 page of notes sheet is allowed (front and back). 30% Mid-Semester Examination Period 1,2,3 Essay Group Assignment 20% Ongoing 1,2,3
High Distinction 85-100 Outstanding or exemplary performance in the following areas: interpretative ability; intellectual initiative in response to questions; mastery of the skills required by the subject, general levels of knowledge and analytic ability or clear thinking. Distinction 75-84 Usually awarded to students whose performance goes well beyond the minimum requirements set for tasks required in assessment, and who perform well in most of the above areas. Credit 65-74 Usually awarded to students whose performance is considered to go beyond the minimum requirements for work set for assessment. Assessable work is typically characterised by a strong performance in some of the capacities listed above. Pass 50-64 Usually awarded to students whose performance meets the requirements set for work provided for assessment. Fail 0-49 Usually awarded to students whose performance is not considered to meet the minimum requirements set for particular tasks. The fail grade may be a result of insufficient preparation, of inattention to assignment guidelines or lack of academic ability. A frequent cause of failure is lack of attention to subject or assignment guidelines.
For the purposes of quality assurance, Bond University conducts an evaluation process to measure and document student assessment as evidence of the extent to which program and subject learning outcomes are achieved. Some examples of student work will be retained for potential research and quality auditing purposes only. Any student work used will be treated confidentially and no student grades will be affected.
|Paper-based Examination (Closed)||Final Examination||50%||Final Examination Period||1,2,3|
|Paper-based Examination (Limited Open)||Mid-semester Examination. 1 A4 page of notes sheet is allowed (front and back).||30%||Mid-Semester Examination Period||1,2,3|
Students must check the [email protected] subject site for detailed assessment information and submission procedures.
Policy on late submission and extensions
A late penalty will be applied to all overdue assessment tasks unless an extension is granted by the subject coordinator. The standard penalty will be 10% of marks awarded to that assessment per day late with no assessment to be accepted seven days after the due date. Where a student is granted an extension, the penalty of 10% per day late starts from the new due date.
Policy on plagiarism
University’s Academic Integrity Policy defines plagiarism as the act of misrepresenting as one’s own original work: another’s ideas, interpretations, words, or creative works; and/or one’s own previous ideas, interpretations, words, or creative work without acknowledging that it was used previously (i.e., self-plagiarism). The University considers the act of plagiarising to be a breach of the Student Conduct Code and, therefore, subject to the Discipline Regulations which provide for a range of penalties including the reduction of marks or grades, fines and suspension from the University.
Feedback on assessment
Feedback on assessment will be provided to students within two weeks of the assessment submission due date, as per the Assessment Policy.
Accessibility and Inclusion Support
If you have a disability, illness, injury or health condition that impacts your capacity to complete studies, exams or assessment tasks, it is important you let us know your special requirements, early in the semester. Students will need to make an application for support and submit it with recent, comprehensive documentation at an appointment with a Disability Officer. Students with a disability are encouraged to contact the Disability Office at the earliest possible time, to meet staff and learn about the services available to meet your specific needs. Please note that late notification or failure to disclose your disability can be to your disadvantage as the University cannot guarantee support under such circumstances.
Additional subject information
Week 1. National Income Accounting
SLGKBN Reading: Chaper 5 and 6 (NO TUTORIAL IN WEEK 1)
Week 2. Productivity and Growth
SLGKBN Reading: Chapter 7. Tutorial 1.
Week 3. Consumption, Saving, Investment and Financial System
SLGKBN Reading: Chapter 8. Tutorial 2.
Week 4. Money and Inflation: The Monetary System
SLGKBN Reading: Chapter 10 and 11. Tutorial 3.
Week 5. Unemployment
SLGKBN Reading: Chapter 9. Tutorial 4.
Week 6. The Open Economy - Basic Concepts
SLGKBN Reading: Chapter 12. Tutorial 5.
Week 7: Mid-term Exam
No lectures this week. Mid-term exam will be held during the usual lecture time. Topics 1 - 5 will be covered.
Week 8. A Macroeconomic Theory of the Open Economy
SLGKBN Reading: Chapter 13. Tutorial 6.
Week 9. Aggregated Demand and Aggregated Supply
SLGKBN Reading: Chaper 14. Tutorial 7 (Group Assignment Due this week)
Week 10. Influence of Monetary and Fiscal Policy on Aggregate Demand
SLGKBN Reading: Chaper 15. Tutorial 8.
Week 11. Shortrun Trade off Between Inflation and Unemployment
SLGKBN Reading: Chapter 16. Tutorial 9.
Week 12. Final Tutorial
No lectures this week. Tutorial 10.