23568 Intermediate Macroeconomics
Warning: The information on this page is indicative. The subject outline for a
particular session, location and mode of offering is the authoritative source
of all information about the subject for that offering. Required texts, recommended texts and references in particular are likely to change. Students will be provided with a subject outline once they enrol in the subject.
Subject handbook information prior to 2024 is available in the Archives.
Credit points: 6 cp
Subject level:
Undergraduate
Result type: Grade and marksRequisite(s): 23566 Economics for Business 2 OR 23001 Principles of Macroeconomics
These requisites may not apply to students in certain courses.
There are course requisites for this subject. See access conditions.
Anti-requisite(s): 25568 Intermediate Macroeconomics
Description
This subject develops basic economic models as the analytical tools with which to understand macroeconomic phenomena such as economic growth, output fluctuations, unemployment, and inflation and how these phenomenon are interrelated. The subject equips students with analytical skills to examine the impact of these macroeconomic forces on business conditions and to understand and evaluate policy.
Subject learning objectives (SLOs)
| 1. | identify current problems and issues in the Australian and international macro-economies |
|---|---|
| 2. | apply foundational macroeconomic models to analyse the determination of and movements in key macroeconomic variables including gross domestic product, inflation, unemployment, imports, exports, capital flows, interest rates and exchange rates |
| 3. | explain and evaluate government policy responses to key macroeconomic problems such as inflation and unemployment |
| 4. | deliver high quality written analysis of macroeconomic problems and conditions. |
Contribution to the development of graduate attributes
This subject extends students’ knowledge and understanding of macroeconomic phenomena and the environment within which businesses operate as developed in introductory economics subjects. It prepares students for further study in macroeconomics by equipping them with more formal frameworks for understanding macroeconomic forces and government policy. It also helps students to develop their abilities to clearly communicate economic analysis in written form.
This subject contributes to the development of the following graduate attributes:
- Communication and collaboration
- Professional and technical competence
This subject also contributes specifically to develop the following Program Learning Objectives for the Bachelor of Business:
- Communicate information clearly in a form appropriate for its audience (2.1)
It also contributes to developing the following Program Learning Objectives for the Bachelor of Economics:
- Communicate information clearly in a form appropriate for its audience (2.1)
- Combine economic analysis, data and econometric techniques to address typical complex problems faced by economists in diverse work environments (4.1)
Teaching and learning strategies
The subject is taught through a combination of lectures, tutorials and self-managed online learning content are used to develop modelling and analytical skills in macroeconomics. Real world examples and policy problems are used to illustrate economic relevance.
Lectures
Lectures develop some of the most relevant macroeconomic models and apply them to explain real world policy problems. Different approaches and schools of thought are presented and critically evaluated.
Tutorials
The tutor will discuss problems related to the models presented in class.
Students are expected to attempt the problems before attending each tutorial in order to complement their study of the theory and actively participate in the discussion.
Lecture and tutorial material will be made available to students via the learning management system on a weekly basis.
UTS Learning Management System
The learning management system is a web-based tool used at UTS to provide online learning to students. It is accessible via most web browsers. From the main page, you can access the course page by clicking on the Intermediate Macroeconomics link.
In the course page, you will be able to:
- download subject material (such as lecture notes and tutorial materials);
- access the Online Problem Sets;
- keep up to date (via Announcements).
Feedback is provided through a variety of channels: online tests, tutorial exercises, recommended questions, practice exam, class discussions. Personal feedback is available through consultation with lecturer and tutor.
An aim of this subject is to help you develop academic and professional language and communication skills to succeed at university and in the workplace. During the course of this subject, you will complete a milestone assessment task that will, in addition to assessing your subject-specific learning objectives, assess your English language proficiency.
Content (topics)
- Examination of current macroeconomic issues and debates
- Derivation and development of macroeconomic models of economic growth including the Solow growth model.
- Derivation and development of macroeconomic models of business cycles: the IS/LM model; the Aggregate Demand/Aggregate Supply (AD/AS) model; and the Mundell-Fleming model
- The operation of macroeconomic policy within the context of the IS/LM, AD/AS and open economy models
- Inflation, unemployment and the Phillips curve
- Investment and savings
Assessment
Assessment task 1: Assignments (Individual)*
| Objective(s): | This addresses subject learning objective(s): 1, 2, 3 and 4 |
|---|---|
| Weight: | 40% |
| Length: | Once started, you will have 80 minutes to complete the quiz. Quizzes must be completed in one session, you will not be able to save and reopen. |
| Criteria: | *Note: Late submission of the assessment task will not be marked and awarded a mark of zero. |
Assessment task 2: Final Exam (Individual)
| Objective(s): | This addresses subject learning objective(s): 1, 2, 3 and 4 |
|---|---|
| Weight: | 60% |
Minimum requirements
Students must achieve at least 50% of the subject’s total marks.
Required texts
Dornbusch R., Fischer S. and Startz R. (2014 or 2018), Macroeconomics (International), 12th or 13th edition:
McGraw-Hill
Recommended texts
Lecture slides and tutorial questions will be available for download from UTSOnline prior to lecture.