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Unit of study_

ECON5002: Macroeconomic Theory

This unit presumes no prior exposure to economics and aims, by the end of the unit, to bring a proficiency equivalent to that of students with an intermediate level macroeconomics unit in an Honours degree program. Many economic principles developed in this unit are routinely used in several other units in the program. Macroeconomics studies aggregate economic behaviour. The unit covers theories of the engines of long-run economic growth, of unemployment, of money, inflation, the interest rate and the exchange rate, as well as consumption, saving and investment behaviour. The unit also studies a number of applications of the theory and addresses contemporary macroeconomic problems and policy.

Code ECON5002
Academic unit Economics
Credit points 6

At the completion of this unit, you should be able to:

  • LO1. Understand the theoretical models that form the body of contemporary macroeconomics
  • LO2. Understand and apply macroeconomic models to various economic problems and to policymaking
  • LO3. Demonstrate openness to new ways of thinking and appreciate the importance of intellectual curiosity and reflection as the foundation for continuous learning
  • LO4. Identify, define and analyse problems and recommend creative solutions within real world constraints
  • LO5. Demonstrate a capacity to work independently including the ability to plan and achieve goals
  • LO6. Critically evaluate underlying theories, concepts, assumptions, limitations and arguments in disciplinary and cross-disciplinary fields of study