Microeconomics

Unit Code:LBE100

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, Prahran, Singapore	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, Prahran, Singapore

Nil

Related Course/s:

Effective 2010, Current students are to refer to their 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:

Learning Objectives

1. Use macroeconomic models / tools to analyse the economy's macroeconomic performance,

2. describe the key forces influencing the level and variability of economic activity

3. predict outcomes arising from forces that impact on the level and variability of economic activity

4. explain how policies available to the authorities can influence macroeconomicactivity,

5. interpret, analyse and evaluate current issues 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:

Assignment 10 - 20%
Short Tests 10 - 30%
Essay 10 - 20%
Workshop Problems 10 - 20%
Examination 40 - 60%

Generic Skills Outcomes:

Participation in LBE100 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 Foreign Exchange Market and the International Financial System

• The Phillips Curve Dilemma. The Relationship between Unemployment and Inflation

• Long Term Economic Growth and Supply Side Policies

Reading Materials:

Jackson, J & McIver, R 2006, Microeconomics, 8th edn, McGraw Hill, Sydney.

McTaggart, D, Findlay, C & Parkin, M 2003, Microeconomics, 4th edn, Addison-Wesley Longman, Melbourne.

Rohlf, WD 1999, Introduction to Economic Reasoning, 4th edn, Addison Wesley, Reading.

Sloman, J & Norris, K 2002, Economics, 2nd edn, Prentice Hall, Sydney.

Swann, M & McEachern, W 2003, Microeconomics, 2nd edn, Thomson – Nelson, Melbourne.

Pindick, R & Rubinfled, D 2003, Microeconomics, 6th edn.

Textbooks:

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