EC5205 - Economic Growth and Regional Development

Credit points:	03
Year:	2012
Student Contribution Band:	Band 3
Administered by:	School of Business

This subject focuses on Medium to Long Term Issues relevant to macro economics. (Macroeconomics is the branch of economics that focuses on issues pertinent to entire economies; such as inflation, unemployment, interest rates, exchange rates, economic growth, monetary and fiscal policy.) It investigats details associated with aggregate supply, the dynamic interation between aggregate demand and aggregate supply and economic growth. Topics covered in this subject include inflation, unemployment, expectations formation, hysteresis, real business cycles, price and wage 'stickiness', labour supply, labour demand, aggregate production functions and economic growth.

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 medium to long-run, with a particular emphasis on factors affecting the supply-side of the economy;
• Understand some of the key assumpsions, 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 appraise information critically;
• The ability to use independent judgment to synthesise information to make intellectual and/or creative advances;
• The ability to conceptualise and evaluate a range of potential solutions to relevant problems;
• The ability to make constructive contributions to project teams or collegial activities.

Assumed Knowledge:	Introductory subjects in Economics and Statistics
Inadmissible Subject Combinations:	BX3023 and EC2001 and EC3412

Availabilities
Townsville, Internal, Study Period 1
Census Date 22-Mar-2012
Coord/Lect:	Dr Riccardo Welters.
Contact hours:	26 hours lectures 12 hours tutorials
Assessment:	quizzes or tests (25%); presentations (15%); essays (35%); school-administered final exam (25%).
Cairns, Block, Study Period 7
Census Date 05-Jul-2012
Face to face teaching 01-Jul-2012 to 10-Jul-2012 (Face to face dates - Sun 1 July 9 - 1pm; 2 - 4 and 9 & 10 July, 9 - 4pm, Final exam 13 July 2 -4pm.)
Coordinator:	Dr Riccardo Welters
Lecturer:	Dr Hong-Bo Liu.
Contact hours:	26 hours lectures 12 hours tutorials
Assessment:	end of semester exam (25%); quizzes or tests (25%); presentations (15%); essays (35%).

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.