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 yourself with the set of tools - terminology, methodology, and the way of thinking - of an economist and practice using these.
|Faculty||Bond Business School|
|Study abroad||Available to Study Abroad students|
1. Understand elements of macroeconimic theory and its applications to policy debates.
2. Understand certain specific issues in macroeconomics pertinent to recent changes in the global economic environment and policy considerations faced by the Australian Government and the Reserve Bank of Australia (RBA).
Students must have successfully completed ECON11-100 Principles of Economics or equivalent prior to undertaking ECON12-202.