EC5206 - Macroeconomic Policy

Credit points:	03
Year:	2007
Student Contribution Band:	Band 2
Administered by:	Discipline of Economics

This subject focuses on short to medium term issues pertinent to macro economics. (Macroeconomics is the branch of economics that focuses on issues pertinent to entire economies; issues like inflation, unemployment, interest rates, exchange rates, economic growth, monetary and fiscal policy.) It focuses on short to medium-term issues, primarily investigating details associated with aggregate demand. Topics covered in this subject include: money demand, money supply, interest rate and exchange rate determination, trade, the balance of payments, consumption, investment and government spending; fiscal policy, monetary policy, IS/LM/BP and AD/AS.

Learning Outcomes

• Students completing this subject will have an increased understanding of macroeconomic data, concepts, models and analysis. More specifically, they will be able to:;
• Understand a range of different models that seek to explain and/or describe key macroeconomic relationships in the short to medium-run, with a particular emphasis on factors affecting the demand-side of the economy;
• Understand some of the key assumptions, problems, strengths and limitations of the relevant models;
• Construct, manipulate and explain a range of simple diagrams associated with the relevant models;
• Use the models to analyse real and hypothetical 'shocks' and/or policy changes, making predictions about the possible impact of the changes on different parts of the economy, and derive solutions to problems posed in these circumstances.

Graduate Qualities

• The ability to think critically, to analyse and evaluate claims, evidence and arguments;
• The ability to adapt knowledge to new situations;
• The ability to define and to solve problems in at least one discipline area;
• The ability to communicate effectively with a range of audiences;
• The ability to speak and write logically, clearly and creatively;
• The ability to calculate, produce, interpret and communicate numerical information;
• The ability to select and use appropriate IT tools;
• The ability to access and employ online technologies effectively;
• A coherent and disciplined body of skills, knowledge, values and professional ethics in at least one discipline area;
• The ability to use a variety of media and methods to retrieve, analyse, evaluate, organise and present information;
• The ability to learn independently and in a self-directed manner;
• A commitment to lifelong learning and intellectual development.

Prerequisites:	An introductory economics subject (equivalent to EC1005, LB5003 or EC5103)
Inadmissible Subject Combinations:	EC2000

Availabilities
Townsville, Internal, Study Period 2
Census Date 31-Aug-2007
Coord/Lect:	jc155016.
Contact hours:	26 hours lectures 24 hours tutorials - Tutorials/Seminars 3 hours workshops/Seminars
Assessment:	end of semester exam (50%); presentations (10%); essays (40%).

Note: Minor variations might occur due to the continuous Subject quality improvement process, and in case of minor variation(s) in assessment details, the Subject Outline represents the latest official information.