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ECO2000 Macroeconomics for Business and Government

Semester 1, 2013 External Toowoomba
Units : 1
Faculty or Section : Faculty of Business and Law
School or Department : School of Accounting, Economics and Finance
Version produced : 20 April 2014

Contents on this page

Staffing

Examiner: Mafiz Rahman
Moderator: Shane Zhang

Requisites

Pre-requisite: ECO1000

Other requisites

Students are required to have access to a personal computer, e-mail capabilities and Internet access to UConnect. Current details of computer requirements can be found at http://www.usq.edu.au/current-students/support/computing/hardware.

Rationale

ECO2000 is focused upon macroeconomic theory and application of theory to analysis and evaluation of macroeconomic issues and policy. This course is designed to provide students with the ability to understand and carry out macroeconomic analysis. Students will have a better understanding of what is happening around the world, and of the arguments about fiscal and monetary policy in Australia by doing macroeconomics. This course is essential for those who intend pursuing careers in finance and banking, consulting, government, the Reserve Bank of Australia, as well as non-profit organisations such as the IMF and the World Bank.

Synopsis

It is important for businesses, households, and governments to understand the macroeconomic environment in which they operate. Consequently, students need to understand macroeconomic theory and be able to apply that theory in interpreting and analysing macroeconomic information, events and policy. This course focuses on contemporary macroeconomic events and theory that may be used in their explanation. Emphasis is placed on the development of skills required for macroeconomic analysis in the context of business and household decision making and government policy.

Objectives

On successful completion of this course, students should be able to:

  1. describe the macroeconomic context in which households, business enterprises and governments operate
  2. describe and demonstrate their understanding of selected theories in macroeconomics
  3. use macroeconomic theory to explain macroeconomic performance
  4. use macroeconomic theory to explore the design of macroeconomic policy
  5. evaluate macroeconomic theory and policy
  6. present macroeconomic analysis in research essay format using language literacy, computer literacy and numeracy
  7. demonstrate problem solving skills required by economists through the use of aggregate demand-aggregate supply model and IS-LM model
  8. demonstrate an ability to communicate the results of an economic analysis to an audience of stakeholders in a potential project or decision
  9. develop self creativity and take appropriate initiatives with regard to economic and financial decision.

Topics

Description Weighting(%)
1. The basics 5.00
2. Interactions between goods and financial markets 20.00
3. Aggregate supply and demand 20.00
4. Expectations and information 15.00
5. The open economy 20.00
6. Macroeconomic problems and policy 20.00

Text and materials required to be purchased or accessed

ALL textbooks and materials available to be purchased can be sourced from USQ's Online Bookshop (unless otherwise stated). (https://bookshop.usq.edu.au/bookweb/subject.cgi?year=2013&sem=01&subject1=ECO2000)

Please contact us for alternative purchase options from USQ Bookshop. (https://bookshop.usq.edu.au/contact/)

  • Blanchard, O & Sheen, J 2009, Macroeconomics, 3rd edn, Pearson Education Australia, Frenchs Forest, New South Wales.
    (Australasian edition.)
  • Summers, J & Smith, B 2010, Communication skills handbook, 3rd edn, John Wiley & Sons, Milton, Queensland.

Reference materials

Reference materials are materials that, if accessed by students, may improve their knowledge and understanding of the material in the course and enrich their learning experience.
  • Any major newspaper that contains news on current economic events in Australia, Asia and the rest of the world. The following are recommended: The Australian, The Australian Financial Review, The Economist, The Far Eastern Economic Review.

Student workload requirements

Activity Hours
Assignments 28.00
Directed Study 87.00
Private Study 50.00

Assessment details

Description Marks out of Wtg (%) Due Date Notes
ASSIGNMENT 1 50 15 22 Mar 2013 (see note 1)
ASSIGNMENT 2 50 35 27 May 2013 (see note 2)
EXAM PART A 40 25 End S1 (see note 3)
EXAM PART B & C 60 25 End S1

NOTES
  1. Multiple-choice questions and short-answer questions.
  2. Multiple-choice questions, short-answer questions and extended-response questions.
  3. The examination is scheduled to be held in the end-of-semester examination period. Students will be advised of the official examination date for Exam (Parts A, B and C) after the timetable has been finalised. The total working time for Exam (Parts A, B and C) is 2 hours.

Important assessment information

  1. Attendance requirements:
    If you are an international student in Australia, you are advised to attend all classes at your campus. For all other students, there are no attendance requirements for this course. However, it is the students' responsibility to study all material provided to them or required to be accessed by them to maximise their chance of meeting the objectives of the course and to be informed of course-related activities and administration.

  2. Requirements for students to complete each assessment item satisfactorily:
    To satisfactorily complete an individual assessment item a student must achieve at least 50% of the marks. (Depending upon the requirements in Statement 4 below, students may not have to satisfactorily complete each assessment item to receive a passing grade in this course.)

  3. Penalties for late submission of required work:
    If students submit assignments after the due date without prior approval of the examiner, then a penalty of 5% of the total marks gained by the student for the assignment may apply for each working day late up to ten working days at which time a mark of zero may be recorded.

  4. Requirements for student to be awarded a passing grade in the course:
    To be assured of receiving a passing grade a student must achieve at least 50% of the total weighted marks available for the course.

  5. Method used to combine assessment results to attain final grade:
    The final grades for students will be assigned on the basis of the aggregate of the weighted marks obtained for each of the summative assessment items in the course.

  6. Examination information:
    This is a restricted examination. Candidates are allowed access to specific materials during the examination. The only materials that candidates may use in the restricted examination for this course are: writing materials (non-electronic and free from material which could give the student an unfair advantage in the examination); calculators which cannot hold textual information (students must indicate on their examination paper the make and model of any calculator(s) they use during the examination); English translation dictionaries (but not technical dictionaries).

  7. Examination period when Deferred/Supplementary examinations will be held:
    Any Deferred or Supplementary examinations for this course will be held during the next examination period.

  8. University Student Policies:
    Students should read the USQ policies: Definitions, Assessment and Student Academic Misconduct to avoid actions which might contravene University policies and practices. These policies can be found at http://policy.usq.edu.au.

Assessment notes

  1. Assignments:
    1. The due date for an assignment is the date by which a student must despatch the assignment to the USQ. The onus is on the student to provide proof of the despatch date, if requested by the examiner.
    2. Students must retain a copy of each item submitted for assessment. This must be produced within 24 hours if required by the examiner.
    3. The examiner may grant an extension of the due date of an assignment in extenuating circumstances. Extensions of greater than ten calendar days will not be granted. All applications for extensions must be supported by appropriate documentation (eg, a medical certificate for illness or accident, or an employer's statement for work-related reasons). Any student who cannot comply with this extension policy owing to extenuating circumstances must discuss alternatives with the examiner.
    4. The examiner will normally only accept assessments that have been written, typed or printed on paper-based media.
    5. The examiner will not accept submission of assignments by facsimile.
    6. Students who do not have regular access to postal services or who are otherwise disadvantaged by these regulations may be given special consideration. They should contact the examiner to negotiate such special arrangements.
    7. In the event that a due date for an assignment falls on a local public holiday in their area, such as a show holiday, the due date for the assignment will be the next day. Students are to note on the assignment cover the date of the public holiday for the examiner's convenience.


  2. Referencing in assignments:
    Harvard (AGPS) is the referencing system required in this course. Students should use Harvard (AGPS) style in their assignments to format details of the information sources they have cited in their work. The Harvard (AGPS) style to be used is defined by the USQ Library's referencing guide at http://www.usq.edu.au/library/referencing.

  3. Course weightings:
    Course weightings of topics should not be interpreted as applying to the number of marks allocated to questions testing those topics in an examination paper. The examination may test material already tested in assignments.

  4. Deferred work:
    Students who, for medical, family/personal, or employment-related reasons, are unable to complete an assignment or to sit for an examination at the scheduled time may apply to defer an assessment in a course. Such a request must be accompanied by appropriate supporting documentation. One of the following temporary grades may be awarded: IDS (Incomplete - Deferred Examination); IDM (Incomplete Deferred Make-up); IDB (Incomplete - Both Deferred Examination and Deferred Make-up).

  5. Make-up work:
    Students who have undertaken all of the required assessments in a course but who have failed to meet some of the specified objectives of a course within the normally prescribed time may be awarded the temporary grade: IM (Incomplete - Make up). An IM grade will only be awarded when, in the opinion of the examiner, a student will be able to achieve the remaining objectives of the course after a period of non-directed personal study.

Other requirements

  1. Computer, e-mail and Internet access:
    Students are required to have access to a personal computer, e-mail capabilities and Internet access to UConnect. Current details of computer requirements can be found at http://www.usq.edu.au/current-students/support/computing/hardware.