ECON19033 - Macroeconomics
Term 1 - 2017


All details in this unit profile for ECON19033 have been officially approved by CQUniversity and represent a learning partnership between the University and you (our student). The information will not be changed unless absolutely necessary and any change will be clearly indicated by an approved correction included in the profile.

Overview

This unit builds on the introductory macroeconomic theory presented in Principles of Economics (ECON11026). It develops the theory of economic growth and explores the causes and effects of the business cycle. It examines the neo-classical, Keynesian and modern theories of income determination and explores the nature and causes of inflation and unemployment. It develops the tools of fiscal and monetary analysis and links the theory to contemporary macroeconomic policy settings. Finally, it examines the balance of payments and the theory of international trade using recent Australian data and explores the roles of the International Monetary Fund (IMF) and the World Trade Organisation (WTO) in stabilising world trade and assisting developing countries to attain macroeconomic maturity.

Details

Career Level Undergraduate
Unit Level Level 2
Credit Points 6
Student Contribution Band 3A
Fraction of Full-Time Student Load 0.125

Attendance Requirements

All on-campus students are expected to attend scheduled classes – in some units, these classes are identified as a mandatory (pass/fail) component and attendance is compulsory. International students, on a student visa, must maintain a full time study load and meet both attendance and academic progress requirements in each study period (satisfactory attendance for International students is defined as maintaining at least an 80% attendance record).

Offerings

Term 1 - 2017
  • Distance

Website

This unit has a website, within the Moodle system, which is available two weeks before the start of term. It is important that you visit your Moodle site throughout the term. Go to Moodle

Recommended Student Time Commitment

Each 6-credit Undergraduate unit at CQUniversity requires an overall time commitment of an average of 12.5 hours of study per week, making a total of 150 hours for the unit.

Class Timetable

Assessment Overview

Assessment Task Weighting
1. Online Quiz(zes) 30%
2. Written Assessment 30%
3. Written Assessment 40%

This is a graded unit: your overall grade will be calculated from the marks or grades for each assessment task, based on the relative weightings shown in the table above. You must obtain an overall mark for the unit of at least 50%, or an overall grade of ‘pass’ in order to pass the unit. If any ‘pass/fail’ tasks are shown in the table above they must also be completed successfully (‘pass’ grade). You must also meet any minimum mark requirements specified for a particular assessment task, as detailed in the ‘assessment task’ section (note that in some instances, the minimum mark for a task may be greater than 50%). Consult the University’s Grades and Results Procedures for more details of interim results and final grades.

All University policies are available on the IMPortal.

You may wish to view these policies:

  • Grades and Results Procedure
  • Assessment Policy and Procedure (Higher Education Coursework)
  • Review of Grade Procedure
  • Academic Misconduct Procedure
  • Monitoring Academic Progress (MAP) Policy and Procedure – Domestic Students
  • Monitoring Academic Progress (MAP) Policy and Procedure – International Students
  • Refund and Excess Payments (Credit Balances) Policy and Procedure
  • Student Feedback – Compliments and Complaints Policy and Procedure
  • Acceptable Use of Information and Communications Technology Facilities and Devices Policy and Procedure

This list is not an exhaustive list of all University policies. The full list of University policies are available on the IMPortal.

Feedback, Recommendations and Responses

Every unit is reviewed for enhancement each year. At the most recent review, the following staff and student feedback items were identified and recommendations were made.

Feedback Source Recommendation
Lecture videos were too long Student feedback It is recommended to include short recorded lectures on the Moodle site that cover only the main learning points for each week.
On successful completion of this unit, you will be able to:
  1. explain and apply macroeconomic theory to the major macroeconomic problems and policies
  2. analyse the policies for solving unemployment and inflation problems
  3. explain how fluctuations in the business cycle can have an impact on economic growth including Gross Domestic Product, interest rates, exchange rates, inflation rates, unemployment rates and the federal budget
  4. apply economic concepts to the issues of fiscal policy, monetary policy, exchange rate policy and international deficits and surpluses
  5. compare and contrast the definitive features of different macroeconomic theories of the 1930s and 1970s

Alignment of Assessment Tasks to Learning Outcomes

Assessment Tasks Learning Outcomes
1 2 3 4 5
1 - Online Quiz(zes)    
2 - Written Assessment    
3 - Written Assessment  

Alignment of Graduate Attributes to Learning Outcomes

  • Introductory Level
  • Intermediate Level
  • Graduate Level
Graduate Attributes Learning Outcomes
1 2 3 4 5
1. Communication  
2. Problem Solving
3. Critical Thinking
4. Information Literacy
5. Team Work          
6. Information Technology Competence          
7. Cross Cultural Competence          
8. Ethical practice          

Alignment of Assessment Tasks to Graduate Attributes

  • Introductory Level
  • Intermediate Level
  • Graduate Level
Assessment Tasks Graduate Attributes
1 2 3 4 5 6 7 8
1 - Online Quiz(zes)          
2 - Written Assessment        
3 - Written Assessment        

Prescribed Textbooks

Macroeconomics: Australia in the Global Environment
Author/s: Parkin & Bade Year: 2015
Edition: 1st ed. Publisher: Pearson Australia
Country: Australia
View textbooks at the CQUniversity Bookshop
Note:

Students need to purchase the set textbook and preferably the access to MyEconLab.

Option 1: MyEconLab with eText ($75.00)

Title: Macroeconomics: Australia in the Global Economy MyEconLab with eText

ISBN: 9781488611117

Available as an online purchase via: http://www.pearson.com.au/9781488611117

Option 2: downloadable eBook only (non-expiring) ($ 50.00)

Title: Macroeconomics: Australia in the Global Economy VitalSource eText

ISBN: 9781488610820

Available as an online purchase via: http://www.pearson.com.au/9781488610820

Option 3: print textbook with MyEconLab & eText (ie. everything in one pack) (RRP: $140.95)

Title: Value Pack Macroeconomics: Australia in the Global Economy + MyEconLab with eText (1e)

ISBN: 9781488608995

Available at the CQUni Bookshop here: http://bookshop.cqu.edu.au

IT Resources

You will need access to the following IT resources:
  • CQUniversity Student Email
  • Internet
  • Unit Website (Moodle)
  • www.myeconlab.com/mctaggart
All submissions for this unit must use the American Psychological Association (APA) referencing style (details can be obtained here). For further information, see the Assessment Tasks below.
Unit CoordinatorJayanath Ananda (j.ananda@cqu.edu.au)
Note: Check the Term-Specific section for any additional contact information provided by the teaching team
Week Begin Date Module/Topic Chapter Events and Submissions
Week 1 06-03-2017

Introduction to Macroeconomics: The nature of the economic problem

Parkin & Bade (2016), Chs. 1, 2 & 3

Week 2 13-03-2017

Measuring the Macroeconomy: Gross Domestic Product (GDP).

Parkin & Bade (2016) Ch. 5

Week 3 20-03-2017

Macroeconomic problems: Unemployment and Inflation

Parkin and Bade (2016) Chs. 6 & 7

Week 4 27-03-2017

Economic growth: GDP growth theories and labour productivity

Parkin & Bade (2016) Ch. 8

Week 5 03-04-2017

Finance, Saving and Investment

Parkin & Bade (2016) Ch. 9

Online quizzes Due Monday (03 Apr 17) 11:45 PM AEST
Vacation Week 10-04-2017

Mid-term break

Week 6 17-04-2017

Price level and Inflation: The banking system and money creation

Parkin & Bade (2016) Ch. 10

Week 7 24-04-2017

Australia in the global economy: Exchange rate and the balance of payments

Parkin & Bade (2016) Ch. 17

Week 8 01-05-2017

Aggregate supply and aggregate demand: Business cycles and macroeconomic schools of thought

Parkin & Bade (2016) Ch. 11

Week 9 08-05-2017

Expenditure multiplier: the Keynesian model and the Phillips Curve

Parkin & Bade (2016) Chs. 12 & 13

Written Assessment Due Monday (08 May 17) 11:45 PM AEST
Week 10 15-05-2017

Fiscal Policy: Government's role in managing macroeconomic fluctuations

Parkin & Bade (2016) Ch. 14

Week 11 22-05-2017

Monetary Policy: The Reserve Bank's role in managing macroeconomic fluctuations

Parkin & Bade (2016) Ch. 15

Week 12 29-05-2017

International Trade Theory: Global markets, trade restrictions and free trade

Parkin & Bade (2016) Ch. 16

Review/Exam Week 05-06-2017

Review Week

Written Assessment Due Thursday (08 Jun 17) 11:45 PM AEST
Exam Week 12-06-2017

1 Online Quiz(zes)

Assessment Title Online quizzes
Task Description

Assignment Item 1: Written- Weekly Quiz (zes)

Submission in week-5

This will consist of six (6) quizzes, each carrying 5% of total marks. Total weight = 30%.

This will cover learning outcomes 1 - 3, based on first four (4) weeks of study.

Number of Quizzes 6
Assessment Due Date Week 5 Monday (03-Apr-2017) 11:45 PM AEST
Due on Monday of week five (5), by 23.45 Hrs AEST.
Return Date to Students Feedback is provided after the completion of the quiz each week.
Weighting 30%
Submission Online

Due on Monday of week five (5).

Learning Outcomes Assessed
This section can be expanded to view the assessed learning outcomes

1. explain and apply macroeconomic theory to the major macroeconomic problems and policies

2. analyse the policies for solving unemployment and inflation problems

3. explain how fluctuations in the business cycle can have an impact on economic growth including Gross Domestic Product, interest rates, exchange rates, inflation rates, unemployment rates and the federal budget

Graduate Attributes
This section can be expanded to view the assessed graduate attributes

2. Problem Solving

3. Critical Thinking

4. Information Literacy



2 Written Assessment

Assessment Title Written Assessment
Task Description

Assignment 2: Written assessment

Submission in week-9

Weighting = 30 marks, total word length = 2,000 to 2,500.

This will cover learning outcomes 1 - 3.

Assignment will consist of four (4) detailed discussion questions that will include calculations and graphical analysis. Each question may have up to six (6) sub-questions to answer and will be based on topics covered in weeks 5-8 of the course.

Assessment Due Date Week 9 Monday (08-May-2017) 11:45 PM AEST
Due on Monday of week nine (9), by 23.45 Hrs AEST
Return Date to Students Returning two (2) weeks from the date of submission of the assignment.
Weighting 30%
Assessment Criteria

Assessment criteria for Assessment Item 2.

Use DADA acronym in structuring your answers to all questions. (Definitions, Assumptions, Draw Diagrams & Analysis). Read on moodle information provided in PDF file, about how to answer questions, write essays in economics.

Concepts and key terms must be Defined accurately and completely.

The Assumptions upon which the analysis is based must be stated at the outset.

Diagrams must be drawn properly, correctly labelled, and the relations they depict explained.

Answers must be complete, addressing the specific tasks nominated in the questions.

Critical Analysis overall should be provided by relating economic theory to real-life economic examples.

All sources used must be acknowledged with in-text referencing and a list of references provided.

Where a question has more than one part, so too should the answer. Ensure complete coverage.

Students should refer to a range of sources including: textbooks, on-line resources, articles and news items related to the questions.

Please do not just depend on the set textbook for writing the assignment.

Plagiarism is a real concern, therefore, please remember to reference in-text and also provide a Reference list.

Working on the assignment questions progressively each week will prevent you from asking for extensions. So please follow a weekly study schedule.Remember an extension is not a gift, it is a burden that puts you behind schedule.

It is suggested that you work on your assignment questions each week rather than leaving it all to the due date. Penalties will apply for any late submissions without an approved extension.

Referencing Style American Psychological Association (APA)
Submission Online

Learning Outcomes Assessed
This section can be expanded to view the assessed learning outcomes

1. explain and apply macroeconomic theory to the major macroeconomic problems and policies

2. analyse the policies for solving unemployment and inflation problems

3. explain how fluctuations in the business cycle can have an impact on economic growth including Gross Domestic Product, interest rates, exchange rates, inflation rates, unemployment rates and the federal budget

Graduate Attributes
This section can be expanded to view the assessed graduate attributes

1. Communication

2. Problem Solving

3. Critical Thinking

4. Information Literacy



3 Written Assessment

Assessment Title Written Assessment
Task Description

Assignment Item 3: Written Assessment

Submission Week 13 (Take Home Paper).

Weight = 40 marks, total word length= 3,000 to 3,500.

This will cover learning outcomes 1, 3, 4, & 5.

This will consist of a case study, where the students will have to apply macroeconomic theory to real life macroeconomic examples and problems covering week’s 9 - 12 of study.

Students will be required to research the case study related topic and answer analytical, discussion, policy oriented and graphical type of questions.

Assessment Due Date Review/Exam Week Thursday (08-Jun-2017) 11:45 PM AEST
Due on Thursday of week 13 by 23.45 Hrs AEST
Return Date to Students End of Exam Period
Weighting 40%
Assessment Criteria

Assessment Criteria for Assessment Item 3.

Use DADA (Definitions, Assumptions, Draw Diagrams & Analysis) acronym in structuring your answers to all questions. Read on moodle information provided in PDF file, about how to answer questions, write essays and analyse case studies in economics.

Concepts and key terms must be Defined accurately and completely.

The Assumptions upon which the analysis is based must be stated at the outset.

Diagrams must be drawn properly, correctly labelled, and the relations they depict explained.

Critical Analysis overall should be provided by relating economic theory to real-life economic examples.

All sources of reference must be acknowledged with in-text referencing and a list of references provided.

Where a question has more than one part, so too should the answer. Ensure complete coverage and apply theory to real life economic examples.

Students should refer to a wide range of sources including: textbooks, on-line resources, research articles, news items related to the questions in the case study.

Plagiarism is a real concern, therefore, please remember to reference in-text and also provide a reference list.

It is suggested that you work on your case study questions each week rather than leaving it all to the due date, since the case study requires significant research and will take some time to develop a quality answer. Penalties will apply for any late submissions without an approved extension.

Referencing Style American Psychological Association (APA)
Submission Online

Due on Thursday of week 13

Learning Outcomes Assessed
This section can be expanded to view the assessed learning outcomes

1. explain and apply macroeconomic theory to the major macroeconomic problems and policies

3. explain how fluctuations in the business cycle can have an impact on economic growth including Gross Domestic Product, interest rates, exchange rates, inflation rates, unemployment rates and the federal budget

4. apply economic concepts to the issues of fiscal policy, monetary policy, exchange rate policy and international deficits and surpluses

5. compare and contrast the definitive features of different macroeconomic theories of the 1930s and 1970s

Graduate Attributes
This section can be expanded to view the assessed graduate attributes

1. Communication

2. Problem Solving

3. Critical Thinking

4. Information Literacy




© 2017 CQUniversity
Page generated by apps-prod-01.cqu.edu.au at Fri Apr 28 06:40:47 AEST 2017