ECON71-202: Macroeconomics

Description

Why are economies unstable? Can globalisation benefit all? How do we achieve a sustainable economy? Does inequality undermine macroeconomic performance?  Macroeconomics provides the tools to understand these and many other questions facing entire economies. Unlike microeconomics which examines the economic actions of individual households, firms or industries, macroeconomics considers the economy as a whole. Understanding and explaining the importance of national income, monetary systems, employment, economic productivity and international trade are all central to this subject. You will also learn to explain and interpret current economic conditions and evaluate the short-term and long-term consequences of various macroeconomic interventions (e.g., tax levels, monetary supply, tariffs). 

Subject details

Learning outcomes

1. Apply macroeconomic principles to interpret the recent movements in key economic indicators of the Australia and other economies.
2. Critically evaluate the key differences between the short-run and long-run impacts of macroeconomic policies.
3. Apply the knowledge of 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.
4. Analyse the significance of Australian economy in relation to the rest of the world and the implications of this interdependence in the balance of payments and exchange rate.

Enrolment requirements

Subject outlines

• May 2020 [Standard]
• September 2019 [Standard]
• September 2018 [Standard]
• September 2017 [Standard]

Subject dates