RECESSIONS, INFLATION AND ECONOMIC GROWTH

ECO1RIG

2018

Credit points: 15

Subject outline

In Recessions, Inflation and Economic Growth, you will get to know the economy as a whole. You will apply simple models to better understand the driving forces of phenomena such as inflation, unemployment, economic growth, foreign debt, and the current account deficit; and discover about their effects on our prosperity and wellbeing. Importantly, you will explore the effectiveness and desirability of policymakers' responses to various economic situations via monetary and fiscal policy. For example, you will discuss whether and when should the central bank change the interest rate, whether the government should run surpluses or deficits, and many other real world relevant questions.

SchoolLa Trobe Business School

Credit points15

Subject Co-ordinatorJan Libich

Available to Study Abroad StudentsYes

Subject year levelYear Level 1 - UG

Exchange StudentsYes

Subject particulars

Subject rules

PrerequisitesN/A

Co-requisitesN/A

Incompatible subjects ECO1IMA and ECO1PPB

Equivalent subjectsN/A

Special conditionsN/A

Readings

Resource TypeTitleResource RequirementAuthor and YearPublisher
ReadingsPrinciples of MacroeconomicsPrescribedStonecash, Libich, Gans, King, Byford and MankiwCengage (6th Edition) (2014)

Graduate capabilities & intended learning outcomes

01. Present an argument, both orally and in writing, using correct economic terminology and appropriate diagrammatic representations, to demonstrate an understanding of various economic methods and concepts within the context of the economy as a whole

Activities:
(1) Weekly Problem Sets (2) Tutorial Participation/Presentation (3) Tutorial Quizzes (4) Midterm Exam: Short Answer (6) Final Exam: Short Answer
Related graduate capabilities and elements:
Inquiry and Analytical Skills (Critical Thinking,Creative Problem-solving,Inquiry/Research)
Discipline -Specific Knowledge and Skills (Discipline-Specific Knowledge and Skills)

02. Find information through independent research and use it to describe and analyse changes in the macroeconomy relating to national income, cost of living and labour market statistics

Activities:
(1) Weekly Problem Sets (2) Tutorial Participation/Presentation (3) Tutorial Quizzes (4) Midterm Exam: Short Answer (5) Midterm Exam: MCQ/TF (6) Final Exam: Short Answer (7) Final Exam: MCQ/TF
Related graduate capabilities and elements:
Inquiry and Analytical Skills (Critical Thinking,Creative Problem-solving,Inquiry/Research)

03. Critically reflect on and apply introductory macroeconomic concepts and theories (including production and growth, the financial and monetary systems, inflation and the open economy) as they apply to given tasks using creative problem-solving

Activities:
(1) Weekly Problem Sets (2) Tutorial Participation/Presentation (3) Tutorial Quizzes (4) Midterm Exam: Short Answer (5) Midterm Exam: MCQ/TF
Related graduate capabilities and elements:
Inquiry and Analytical Skills (Critical Thinking,Creative Problem-solving,Inquiry/Research)
Discipline -Specific Knowledge and Skills (Discipline-Specific Knowledge and Skills)

04. Differentiate between monetary and fiscal policies, identify their defining characteristics, and discuss their implications for economic stability and growth

Activities:
(1) Weekly Problem Sets (some) (2) Tutorial Participation/Presentation (some) (3) Tutorial Quizzes (some) (6) Final Exam: Short Answer (7) Final Exam: MCQ/TF
Related graduate capabilities and elements:
Inquiry and Analytical Skills (Critical Thinking,Creative Problem-solving,Inquiry/Research)
Discipline -Specific Knowledge and Skills (Discipline-Specific Knowledge and Skills)

05. Apply (both orally and in writing) key models of macroeconomics (such as the aggregate-demand-and-supply model) to contemporary national and international macroeconomic problems in order to propose policy options for these contemporary problems and to perform an ex-post evaluation of those policies

Activities:
(1) Weekly Problem Sets (2) Tutorial Participation/Presentation (3) Tutorial Quizzes (4) Midterm Exam: Short Answer (5) Midterm Exam: MCQ/TF (6) Final Exam: Short Answer (7) Final Exam: MCQ/TF
Related graduate capabilities and elements:
Inquiry and Analytical Skills (Critical Thinking,Creative Problem-solving,Inquiry/Research)

06. Interact efficiently and constructively with classmates to prepare a group presentation and argument based on written work

Activities:
(1) Weekly Problem Sets (some) (2) Tutorial Participation/Presentation (3) Tutorial Quizzes (some)
Related graduate capabilities and elements:
Inquiry and Analytical Skills (Critical Thinking,Creative Problem-solving,Inquiry/Research)
Inquiry and Analytical Skills (Critical Thinking,Creative Problem-solving,Inquiry/Research)

Subject options

Select to view your study options…

Start date between: and    Key dates

China, 2018, Week 08-23, Day

Overview

Online enrolmentNo

Maximum enrolment sizeN/A

Enrolment information

Subject Instance Co-ordinatorJan Libich

Class requirements

Lecture Week: 08 - 23
One 2.0 hours lecture other recurrence on weekdays during the day from week 08 to week 23 and delivered via face-to-face.

Assessments

Assessment elementComments% ILO*
online quizzes (500 words equivalent)15 01, 02, 03, 04, 05, 06
one 2-hour final examination50 01, 02, 03, 04, 05
open-ended assessment (2,000 words)35 01, 02, 03, 04, 05, 06

Melbourne, 2018, Semester 2, Day

Overview

Online enrolmentYes

Maximum enrolment sizeN/A

Enrolment information

Subject Instance Co-ordinatorLiam Lenten

Class requirements

Lecture Week: 31 - 43
One 2.0 hours lecture per week on weekdays during the day from week 31 to week 43 and delivered via face-to-face.

Tutorial Week: 31 - 43
One 1.0 hours tutorial per week on weekdays during the day from week 31 to week 43 and delivered via face-to-face.

Assessments

Assessment elementComments% ILO*
online quizzes (500 words equivalent)15 01, 02, 03, 04, 05, 06
one 2-hour final examination50 01, 02, 03, 04, 05
open-ended assessment (2,000 words)35 01, 02, 03, 04, 05, 06

Melbourne, 2018, Semester 1, Day

Overview

Online enrolmentYes

Maximum enrolment sizeN/A

Enrolment information

Subject Instance Co-ordinatorJan Libich

Class requirements

Lecture Week: 10 - 22
One 2.0 hours lecture per week on weekdays during the day from week 10 to week 22 and delivered via face-to-face.

Tutorial Week: 10 - 22
One 1.0 hours tutorial per week on weekdays during the day from week 10 to week 22 and delivered via face-to-face.

Assessments

Assessment elementComments% ILO*
online quizzes (500 words equivalent)15 01, 02, 03, 04, 05, 06
one 2-hour final examination50 01, 02, 03, 04, 05
open-ended assessment (2,000 words)35 01, 02, 03, 04, 05, 06