RECESSIONS, INFLATION AND ECONOMIC GROWTH

ECO1RIG

2015

Credit points: 15

Subject outline

This subject introduces students to the study of the economy as a whole and to the economic way of thinking. Students will learn about national income accounting, consumption and investment demand, government spending, exports and imports, aggregate demand and supply,  and money and banking. Students will also study fiscal and monetary policy, alternative macroeconomic theories, the balance of payments, national and foreign debt, inflation, unemployment, productivity and economic growth.

SchoolLa Trobe Business School

Credit points15

Subject Co-ordinatorLiam Lenten

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, R., Gans, J., King, S., Mankiw, N.CENGAGE LEARNING 5TH EDITION (2011)

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:
Critical Thinking (Critical Thinking)
Information Literacy (Information Literacy)

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:
Critical Thinking (Critical Thinking)
Information Literacy (Information Literacy)

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:
Critical Thinking (Critical Thinking)
Information Literacy (Information Literacy)

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:
Critical Thinking (Critical Thinking)
Information Literacy (Information Literacy)

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:
Information Literacy (Information Literacy)
Critical Thinking (Critical Thinking)

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:
Critical Thinking (Critical Thinking)
Information Literacy (Information Literacy)

Subject options

Select to view your study options…

Start date between: and    Key dates

China, 2015, Week 08-23, Day

Overview

Online enrolmentNo

Maximum enrolment sizeN/A

Enrolment information

Subject Instance Co-ordinatorLiam Lenten

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*
one 1-hour mid-semester test15 01, 02, 03, 04, 05, 06
one 2-hour final examinationHurdle requirement: Students must achieve at least 40% in the final examination as well as an overall total of 50% to pass the subject60 01, 02, 03, 04, 05, 06
weekly problem sets/assignment (maximum 1,000 words)25 01, 02, 03, 04, 05, 06

Dandenong, 2015, 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 other recurrence on weekdays during the day from week 31 to week 43 and delivered via face-to-face.

Assessments

Assessment elementComments% ILO*
one 1-hour mid-semester test15 01, 02, 03, 04, 05, 06
one 2-hour final examinationHurdle requirement: Students must achieve at least 40% in the final examination as well as an overall total of 50% to pass the subject60 01, 02, 03, 04, 05, 06
weekly problem sets/assignment (maximum 1,000 words)25 01, 02, 03, 04, 05, 06

Melbourne, 2015, 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*
one 1-hour mid-semester test15 01, 02, 03, 04, 05, 06
one 2-hour final examinationHurdle requirement: Students must achieve at least 40% in the final examination as well as an overall total of 50% to pass the subject60 01, 02, 03, 04, 05, 06
weekly problem sets/assignment (maximum 1,000 words)25 01, 02, 03, 04, 05, 06

Melbourne, 2015, Semester 1, Day

Overview

Online enrolmentYes

Maximum enrolment sizeN/A

Enrolment information

Subject Instance Co-ordinatorLiam Lenten

Class requirements

Lecture Week: 10 - 22
Two 1.0 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*
one 1-hour mid-semester test15 01, 02, 03, 04, 05, 06
one 2-hour final examinationHurdle requirement: Students must achieve at least 40% in the final examination as well as an overall total of 50% to pass the subject60 01, 02, 03, 04, 05, 06
weekly problem sets/assignment (maximum 1,000 words)25 01, 02, 03, 04, 05, 06

Sydney, 2015, ACN Semester 1, Day

Overview

Online enrolmentNo

Maximum enrolment sizeN/A

Enrolment information

Subject Instance Co-ordinatorLiam Lenten

Class requirements

Lecture Week: 11 - 22
One 3.0 hours lecture per week on weekdays during the day from week 11 to week 22 and delivered via face-to-face.

Assessments

Assessment elementComments% ILO*
one 1-hour mid-semester test15 01, 02, 03, 04, 05, 06
one 2-hour final examinationHurdle requirement: Students must achieve at least 40% in the final examination as well as an overall total of 50% to pass the subject60 01, 02, 03, 04, 05, 06
weekly problem sets/assignment (maximum 1,000 words)25 01, 02, 03, 04, 05, 06

Sydney, 2015, ACN Semester 2, Day

Overview

Online enrolmentYes

Maximum enrolment sizeN/A

Enrolment information

Subject Instance Co-ordinatorLiam Lenten

Class requirements

Lecture Week: 28 - 39
One 3.0 hours lecture per week on weekdays during the day from week 28 to week 39 and delivered via face-to-face.

Assessments

Assessment elementComments% ILO*
one 1-hour mid-semester test15 01, 02, 03, 04, 05, 06
one 2-hour final examinationHurdle requirement: Students must achieve at least 40% in the final examination as well as an overall total of 50% to pass the subject60 01, 02, 03, 04, 05, 06
weekly problem sets/assignment (maximum 1,000 words)25 01, 02, 03, 04, 05, 06