eco1rig recessions, inflation and economic growt
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-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
Learning resources
Readings
| Resource Type | Title | Resource Requirement | Author and Year | Publisher |
|---|---|---|---|---|
| Readings | Principles of Macroeconomics | Prescribed | Stonecash, Libich, Gans, King, Byford and Mankiw | Cengage (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…
China, 2018, Week 08-23, Day
Overview
Online enrolmentNo
Maximum enrolment sizeN/A
Enrolment information
Subject Instance Co-ordinatorJan Libich
Class requirements
LectureWeek: 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 element | Comments | % | ILO* |
|---|---|---|---|
| online quizzes (500 words equivalent) | 15 | 01, 02, 03, 04, 05, 06 | |
| one 2-hour final examination | 50 | 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
LectureWeek: 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.
TutorialWeek: 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 element | Comments | % | ILO* |
|---|---|---|---|
| online quizzes (500 words equivalent) | 15 | 01, 02, 03, 04, 05, 06 | |
| one 2-hour final examination | 50 | 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
LectureWeek: 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.
TutorialWeek: 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 element | Comments | % | ILO* |
|---|---|---|---|
| online quizzes (500 words equivalent) | 15 | 01, 02, 03, 04, 05, 06 | |
| one 2-hour final examination | 50 | 01, 02, 03, 04, 05 | |
| open-ended assessment (2,000 words) | 35 | 01, 02, 03, 04, 05, 06 |