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-ordinatorBuly Cardak

Available to Study Abroad/Exchange StudentsYes

Subject year levelYear Level 1 - UG

Available as ElectiveYes

Learning ActivitiesThrough certain selected lectures and weekly problem sets, as well as quizzes and the final examination

Capstone subjectNo

Subject particulars

Subject rules



Incompatible subjectsECO1PPB OR ECO1IMA

Equivalent subjectsN/A

Quota Management StrategyN/A

Quota-conditions or rulesN/A

Special conditionsN/A

Minimum credit point requirementN/A

Assumed knowledgeN/A

Learning resources

Principles of Macroeconomics

Resource TypeBook

Resource RequirementPrescribed

AuthorStonecash, Libich, Gans, King, Byford and Mankiw


Edition/Volume7th Edition



Chapter/article titleN/A



Other descriptionN/A

Source locationN/A

Career Ready


Work-based learningNo

Self sourced or Uni sourcedN/A

Entire subject or partial subjectN/A

Total hours/days requiredN/A

Location of WBL activity (region)N/A

WBL addtional requirementsN/A

Graduate capabilities & intended learning outcomes

Graduate Capabilities

INQUIRY AND ANALYSIS - Creativity and Innovation
INQUIRY AND ANALYSIS - Critical Thinking and Problem Solving
INQUIRY AND ANALYSIS - Research and Evidence-Based Inquiry

Intended Learning Outcomes

01. Present an argument, both orally and in writing, to demonstrate an understanding of various economic methods and concepts within the context of the macroeconomy
02. Find information through independent research and use it to analyse changes in the macroeconomy relating to national income, cost of living and labour markets
03. Critically reflect on and apply introductory macroeconomic concepts and theories as they apply to given tasks using creative problem-solving
04. Differentiate between monetary and fiscal policies, and discuss their implications for economic stability and growth
05. Apply (orally and in writing key models of macroeconomics to contemporary national and international macroeconomic problems in order to propose policy options and to perform evaluations of those policies

Subject options

Select to view your study options…

Start date between: and    Key dates

Melbourne (Bundoora), 2021, Semester 2, Day


Online enrolmentYes

Maximum enrolment sizeN/A

Subject Instance Co-ordinatorBuly Cardak

Class requirements

LectureWeek: 31 - 43
One 2.00 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 1.00 hour tutorial per week on weekdays during the day from week 31 to week 43 and delivered via face-to-face.


Assessment elementCommentsCategoryContributionHurdle% ILO*

Quizzes (in total 500 words equivalent) A series of quizzes.

N/AQuizzesIndividualNo15 SILO1, SILO2, SILO3, SILO4, SILO5

One 2-hour final examination (2,000 words equivalent) Held during examination period.

N/ACentral examIndividualNo50 SILO1, SILO2, SILO3, SILO4, SILO5

Open-ended assessment (2,000 words equivalent in total) Ten (10) problem sets and tutorial participation, due throughout semester

N/AOtherIndividualNo35 SILO1, SILO2, SILO3, SILO4, SILO5