Macroeconomics

Unit Code:LBE200

Credit Points	Duration	Contact Hours	Campus	Prerequisite	Corequisite
12.5 Credit Points	One Semester	36 hours over the teaching period, normally 3 Hours per Week	Lilydale	NIL

Credit Points

Duration

Contact Hours

Campus

Prerequisite

Corequisite

12.5 Credit Points

One Semester

36 hours over the teaching period, normally 3 Hours per Week

Lilydale

NIL

Related Course/s:

Effective 2010, current students refer to unit outline.

This is a prescribed unit of study in the Business Major/s. It may also be undertaken as a unit of study in any other Swinburne degree program, subject to the prerequisite and degree requirements.

Aims & Objectives:

LBE200 Macroeconomics has two broad aims. The first is to help students to develop a basic understanding of the main concepts of macroeconomics and to apply those concepts to a variety of economic issues of concern to economies such as Australia. The second is to help students to develop expertise in using an analytical approach to issues and to problems that will assist them to evaluate alternative theories and policy recommendations in a variety of contexts.

After completing LBE200 students should be able to:
• Identify the main macroeconomic issues of concern in the Australian economy
• Appreciate the significance of those issues for government, business and individuals
• Understand the key forces influencing the level and variability of economic activity
• Understand the main policies available to the authorities in attempting to influence macroeconomic activity
• Interpret, analyse and evaluate news items relating to macroeconomic issues and policies

Teaching Methods:

This unit will be taught in a variety of modes including face to face, online, distance and blended modes. Delivery of this unit may be through a mixture of lectures, tutorials, laboratories, seminars and online.

Assessment:

Four short assessment tasks, each worth 10 - 20%
Final examination 55 - 65%

Generic Skills Outcomes:

Participation in LBE200 Macroeconomics will help students develop the attributes that are considered desirable in a Swinburne graduate including the following generic skills:
• teamwork skills
• analysis skills
• problem solving skills
• communications skills
• ability to tackle unfamiliar problems
• ability to work independently

Content:

Topics may include:
• The Meaning and Measurement of Macroeconomic Activity, Business Cycles, Unemployment, Inflation, Balance of Payments and Macroeconomic Goals
• The Aggregate Demand/Aggregate Supply Model. The Aggregate Expenditure (Keynesian) Model, Multiplier Effects, Fiscal Policy and the Public Debt
• Money, Interest Rates and Monetary Policy. The Balance of Payments, the Exchange Rate and Foreign Debt
• The Phillips Curve Dilemma. The Relationship between Unemployment and Inflation

Textbooks:

Hubbard, R.G, Garnett, A.M, Lewis, P., and O’Brien, A.P., 2011, Macroeconomics, 2nd Ed, Pearson Australia, French Forrest, NSW, Australia.