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The current and official versions of the course specifications are available on the web at https://www.usq.edu.au/course/specification/current.
Please consult the web for updates that may occur during the year.

ECO2000 The Macro-economy and Business

Semester 2, 2020 Online
Short Description: The Macro-economy and Business
Units : 1
Faculty or Section : Faculty of Business, Education, Law and Arts
School or Department : School of Commerce
Student contribution band : Band 3
ASCED code : 091901 - Economics
Grading basis : Graded

Staffing

Examiner: Shane Zhang

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

The 2008-09 global financial crisis was one of the most serious macroeconomic shocks to the world economy and had lasting profound impacts on individuals and businesses. This is an example of why it is important for businesses and households to understand the macroeconomic environment in which they operate, and to monitor macroeconomic development. Students of Business Economics need to be familiar with macroeconomic theories and to be able to use the analytical framework offered by this course to evaluate macroeconomic information, events and policies. This course is designed for those students who intend running their own business as well as those pursuing careers in finance and banking, consulting, government, the Reserve Bank of Australia, and in non-profit organisations such as the IMF and the World Bank.

Synopsis

This course focuses on contemporary macroeconomic events and theories. It examines analytical tools such as aggregate demand and aggregate supply, and IS-LM models as well as policy issues in closed and open economy. Emphasis is placed on the development of skills required for macroeconomic analysis in the context of business decision making and government policy.

Objectives

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

  1. use macroeconomic models to explain and solve real world problems;
  2. use macroeconomic theories to evaluate and improve macroeconomic policies;
  3. develop collaborative and autonomy skills through engaging in online discussion and participation;
  4. present macroeconomic analysis in research essay format using language literacy, computer literacy and numeracy;
  5. communicate the results of an economic analysis to an audience of stakeholders in a potential project or decision;
  6. design, develop and implement creative and appropriate initiatives with regard to economic and financial decisions.

Topics

Description Weighting(%)
1. Introduction and national income accounting 10.00
2. Economic growth and policy 10.00
3. Aggregate supply and aggregate demand 10.00
4. Inflation and unemployment 20.00
5. IS-LM model in a closed economy 40.00
6. IS-LM model in an open economy 10.00

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://omnia.usq.edu.au/textbooks/?year=2020&sem=02&subject1=ECO2000)

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

Dornbusch, R, Fischer, S & Startz, R 2018, Macroeconomics, 13th edn, McGraw Hill Education, New York.

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.

Student workload expectations

Activity Hours
Assessments 30.00
Directed Study 35.00
Private Study 100.00

Assessment details

Description Marks out of Wtg (%) Due Date Notes
ONLINE QUIZ 10 10 05 Aug 2020
ASSIGNMENT 40 40 06 Oct 2020
PARTICIPATION 10 10 24 Oct 2020 (see note 1)
FINAL ASSIGNMENT 40 40 02 Nov 2020 (see note 2)

Notes
  1. Details of participation will be provided in the course materials. Postings made to StudyDesk after the due date will not be assessed.
  2. Students will be provided further instruction regarding the assignment by their examiner via StudyDesk.

Important assessment information

  1. Attendance requirements:
    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:
    Due to COVID-19 the requirements for S2 2020 are: To satisfactorily complete an individual assessment item a student must achieve at least 50% of the marks for that item.

    Requirements after S2, 2020:
    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:
    Students should refer to the Assessment Procedure http://policy.usq.edu.au/documents.php?id=14749PL (point 4.2.4)

  4. Requirements for student to be awarded a passing grade in the course:
    Due to COVID-19 the requirements for S2 2020 are: To be assured of receiving a passing grade a student must achieve at least 50% of the total weighted marks available for the course.

    Requirements after S2, 2020:
    To be assured of receiving a passing grade a student must obtain at least 50% of the total weighted marks available for the course (i.e. the Primary Hurdle), and have satisfied the Secondary Hurdle (Supervised), i.e. the end of semester examination by achieving at least 40% of the weighted marks available for that assessment item.

    Supplementary assessment may be offered where a student has undertaken all of the required summative assessment items and has passed the Primary Hurdle but failed to satisfy the Secondary Hurdle (Supervised), or has satisfied the Secondary Hurdle (Supervised) but failed to achieve a passing Final Grade by 5% or less of the total weighted Marks.

    To be awarded a passing grade for a supplementary assessment item (if applicable), a student must achieve at least 50% of the available marks for the supplementary assessment item as per the Assessment Procedure http://policy.usq.edu.au/documents/14749PL (point 4.4.2).

  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:
    Due to COVID-19 the requirements for S2 2020 are: There is no examination in this course.

    Requirements after S2, 2020:
    This is a restricted examination. The only materials that candidates may use in the examination for this course are:
    1. writing materials. These must be non-electronic and free from material which could give the student an unfair advantage in the examination.
    2. an unmarked non-electronic translation dictionary (but not technical dictionary). A student whose first language is not English may take a translation dictionary into the examination room. A translation dictionary with any handwritten notes will not be permitted. Translation dictionaries will be subject to perusal and may be removed from the candidate's possession until appropriate disciplinary action is completed if found to contain material that could give the candidate an unfair advantage.
    3. a calculator 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).


  7. Examination period when Deferred/Supplementary examinations will be held:
    Due to COVID-19 the requirements for S2 2020 are: There is no examination in this course, there will be no deferred or supplementary examinations.

    Requirements after S2, 2020:
    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. 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.

Date printed 6 November 2020