6 points, SCA Band 3, 0.125 EFTSL
Undergraduate - Unit
Refer to the specific census and withdrawal dates for the semester(s) in which this unit is offered.
- Second semester 2019 (On-campus)
, , .
The unit introduces students to the study of economics from a macroeconomic perspective. Fundamental principles of macroeconomics will be applied to the analysis of Gross Domestic Product, National Income and Aggregate Expenditure, savings and investment, unemployment, money and the Australian monetary system, and aggregate demand and supply in the short and long run. The role of monetary and fiscal policy will be discussed, including related debates on regulatory and political environments and how they impact on business and the macroeconomy.
The learning goals associated with this unit are to:
- gain an insight into the product, money, labour and foreign exchange markets, and knowledge and understanding of the Australian economy and its operation in an international environment
- identify and explain economic systems and the concept of resource allocation
- discuss the implementation of economic policy in a macroeconomic framework, and the ability of economics as an evolutionary science to address the persistent social and economic problems confronted by society
- recognise regulatory and political environments and how they impact on business
- acquire the basis for more advanced studies in economics
- demonstrate in individual summative assessment tasks the acquisition of a comprehensive understanding of the topics covered.
Within semester assessment: 40% + Examination: 60%
Minimum total expected workload to achieve the learning outcomes for this unit is 144 hours per semester typically comprising a mixture of scheduled learning activities and independent study. Independent study may include associated readings, assessment and preparation for scheduled activities. The unit requires on average three/four hours of scheduled activities per week. Scheduled activities may include a combination of teacher directed learning, peer directed learning and online engagement.
See also Unit timetable information