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ECON12-202: Contemporary Macroeconomics Issues May 2017 [Standard]

General information

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.


Academic unit:Bond Business School
Subject code:ECON12-202
Subject title:Contemporary Macroeconomics Issues
Subject level:Undergraduate
Semester/Year:May 2017
Credit points:10

Delivery & attendance

Delivery mode:


Workload items:
  • Lecture: x12 (Total hours: 24) - Weekly Lecture
  • Tutorial: x11 (Total hours: 22) - Weekly Tutorial


Prescribed resources: None
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To access these services, log on to the Student Portal from the Bond University website as

Enrolment requirements

Requisites: ?


Restrictions: ?


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.

Find your program

Subject Learning Outcomes (SLOs)

On successful completion of this subject the learner will be able to:
  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).


Assessment details

TypeTask%Timing*Outcomes assessed
Written Report Assignments (2) 15% Ongoing 1, 2.
Paper-based Examination (Closed) Mid-semester Examination 35% Mid-Semester Examination Period 1, 2.
Paper-based Examination (Closed) Final Examination 50% Final Examination Period 1, 2.
  • * Assessment timing is indicative of the week that the assessment is due or begins (where conducted over multiple weeks), and is based on the standard University academic calendar
  • C = Students must reach a level of competency to successfully complete this assessment.

Assessment criteria

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.

Quality assurance

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.

Study information

Submission procedures

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.

Bond University utilises Originality Reporting software to inform academic integrity.

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.

Disability 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.

Subject curriculum

SLGKBN Reading: Chaper 5 and 6 (NO TUTORIAL IN WEEK 1)

1, 2.

SLGKBN Reading: Chapter 7. Tutorial 1

1, 2.

SLGKBN Reading: Chapter 8. Tutorial 2

1, 2.

SLGKBN Reading: Chapter 10. Tutorial 3

1, 2.

SLGKBN Reading: Chapter 11. Tutorial 4

1, 2.

SLGKBN Reading: Chapter 9. Tutorial 5 (Assignment-1 due)

The MIDTERM EXAM will be held in the lecture time slot. The VENUE and other details are TBA.

1, 2.

SLGKBN Reading: Chapter 12 and 13. Tutorial 6

SLGKBN Reading: Chaper 14. Tutorial 7

SLGKBN Reading: Chaper 15. Tutorial 8

1, 2.

SLGKBN Reading: Chapter 16. Tutorial 9 (Assignment-2 due)

1, 2.

SLGKBN Reading: Chapter 18. Tutorial 10

1, 2.
Approved on: Mar 21, 2017. Edition: 2.1
Last updated: Jun 5, 2017.