Course overview
- Study period
- Semester 2, 2025 (28/07/2025 - 22/11/2025)
- Study level
- Undergraduate
- Location
- St Lucia
- Attendance mode
- In Person
- Units
- 2
- Administrative campus
- St Lucia
- Coordinating unit
- Economics School
Examines functioning of the economy & its interaction with international economy. Studies GDP, unemployment & inflation, interest rates, investment, government expenditure, taxation policies & balance of payments. Alternative macroeconomic theories & models examined.
Overview
The macroeconomy affects business conditions and wider social conditions. The behaviour of an economy as a whole is often broadly predictable, but sometimes it can suddenly change. This course is about explaining the patterns of behaviour that we observe.ᅠ It considers long-term economic growth in living standards in developed and in developing economies.ᅠ It also explains why a national (or global) economy experiences short-term cycles in activities (e.g., recessions and recoveries) around its long-term growth trend. ᅠIt explains what central banks and governments can do to try to smooth these fluctuations and to raise the trend. Simple and standard theories or ‘models’ (widely used by decision-makers in the government and the private sector) are explained intuitively. The behaviour of the financial system, including the banking system and asset markets, is considered, especially in the light of the global financial crisis.
Blended-learning
ECON1020 is a blended-learning course with the following learning activities:ᅠ
- Weekly pre-recorded UQ Extend online lessonsᅠ during week 1 to 11 (note: there are only 10 topics)
- Weeklyᅠ 2-hour in-person tutorials during week 2 to 12 (note:ᅠtutorial starts from week 2.)
- Weeklyᅠ 2-hour in-person lecturesᅠ during week 1 to 11 ᅠ(note: there are only 11 in-person lectures)
What is the difference between the online lessons and lectures? At the end of each week's online lesson (to be run on an online courseᅠplatform called UQ Extend), there will be a survey for you to indicate the part of that week's topic that is difficult and needs more elaboration. The course coordinator/instructor will then organise the content of the lecture for that topic based on your suggestions. In addition,ᅠthe course coordinator/instructorᅠwill also use the lecture to discuss some relevant current macroeconomic events in the content of the course.
The tutorial materials and tutorial solutions will be posted on Blackboard each week.ᅠ
Course requirements
Assumed background
Economics - This is an introductory course without prerequisites. We assume that you have not studied economics before. It is unlikely that much of this course is a mere repetition or compression of high school economics.
Prior or concurrent study of ECON1010 (Introductory Microeconomics) is recommended but not required.
Mathematics - The assumed mathematical background of people enrolling in ECON1020 is modest. You need to know basic arithmetic (+, -, x, /). You will need to perform very simple manipulations of equations (e.g., re-arranging terms).
Note that higher-level courses (e.g. ECON2020, ECON3020) often involve more mathematics. So, if you are planning to take later core microeconomics or macroeconomics courses, we advise you to take ECON1050 or its equivalent early in your degree program, especially if your maths background is weak.
Repeating the course - Although the course contents remain largely the same across semesters, the course coordinator/instructors could be different and therefore have different emphases in their teaching and assessments.
Incompatible
You can't enrol in this course if you've already completed the following:
ECON2021
Restrictions
Not to be studied by BAdvBus(Hons) and BAdvFin&Econ(Hons) students Minimum quota of 25 for summer semester
Course contact
School enquiries
All enquiries regarding student and academic administration (i.e. non-course content information, e.g., class allocation, timetables, extension to assessment due date, etc.) should be directed toᅠenquiries@economics.uq.edu.au.ᅠ
Enquiries relating specifically to course content should be directed to the Course Coordinator/Lecturer.
Course staff
Lecturer
Tutor
Senior tutor
Timetable
The timetable for this course is available on the UQ Public Timetable.
Additional timetable information
Lectures commence in Week 1.
Tutorials commence in Week 2
Please see the Learning Activities section of this Course Profile for the timetabling implications of public holidays.
Important Dates:
· Public Holidays: Wed 13 August (Royal Queensland Show Holiday), Mon 6 October (King’s Birthday public holiday).
· Mid-Semester Break: 29 September – 3 October. Semester 2 classes recommence on Tue 7 October.
Students should refer to the timetable prior to the commencement of classes to ensure that they have the most up to date information, as from time to time late room changes may occur.
Aims and outcomes
This course aims to provide you with a grasp of essential macroeconomic concepts and theories, enablingᅠyou to understand contemporary domestic and international macroeconomic issues.ᅠ
Learning outcomes
After successfully completing this course you should be able to:
LO1.
Apply macroeconomic terminology correctly.
LO2.
Appraise the roles and functions of macroeconomic institutions.
LO3.
Use diagrams, simple equations and words to explain key causal relationships in macroeconomics.
LO4.
Analyse contemporary macroeconomic policy issues and their impacts on business and on society.
LO5.
Identify, compile and interpret macroeconomic data.
Assessment
Assessment summary
Category | Assessment task | Weight | Due date |
---|---|---|---|
Paper/ Report/ Annotation |
Country Report
|
25% |
11/09/2025 1:00 pm |
Paper/ Report/ Annotation |
Impact Report
|
25% |
23/10/2025 1:00 pm |
Quiz |
CML Quizzes
|
15% (Best 4 of 5) |
CML 1: 15/08/2025 - 20/08/2025 CML 2: 29/08/2025 - 3/09/2025 CML 3: 12/09/2025 - 17/09/2025 CML 4: 10/10/2025 - 15/10/2025 CML 5: 24/10/2025 - 29/10/2025
Opens 1PM Friday Closes 1PM following Wednesday |
Examination |
Final Exam
|
35% |
End of Semester Exam Period 8/11/2025 - 22/11/2025 |
Assessment details
Country Report
- Online
- Mode
- Written
- Category
- Paper/ Report/ Annotation
- Weight
- 25%
- Due date
11/09/2025 1:00 pm
- Learning outcomes
- L01, L02, L03, L04, L05
Task description
For this report, you will be assigned a country based on your student number. You are required to discuss and evaluate the macroeconomic performance of your assigned country for a specified period based on the macroeconomic indicators covered in this course.
The detail instruction will be provided on Blackboard > Assessment > Country Report.
This task has been designed to be challenging, authentic and complex. Whilst students may use AI and/or MT technologies, successful completion of assessment in this course will require students to critically engage in specific contexts and tasks for which artificial intelligence will provide only limited support and guidance.
A failure to reference generative AI or MT use may constitute student misconduct under the Student Code of Conduct.
To pass this assessment, students will be required to demonstrate detailed comprehension of their written submission independent of AI and MT tools.
Submission guidelines
Submit report electronically via Turnitin on Blackboard by the deadline date and time.
Deferral or extension
You may be able to apply for an extension.
The maximum extension allowed is 7 days. Extensions are given in multiples of 24 hours.
Late submission
For the Reports, when an extension has not been previously approved, a penalty of 10 marks (out of 100) will be deducted for every 24-hour block up to 7 calendar days, at which point any submission will not receive any marks. Each 24 hour block is recorded from the time the submission is due. That is:
- 10 marks penalty if submitted within 24 hours after the deadline;
- 20 marks penalty if submitted between 24 to 48 hours after the deadline;
- 30 marks penalty if submitted between 48 to 72 hours after the deadline;
- 40 marks penalty if submitted between 72 to 96 hours after the deadline;
- 50 marks penalty if submitted between 96 to 120 hours after the deadline;
- 60 marks penalty if submitted between 120 to 144 hours after the deadline;
- 70 marks penalty if submitted between 144 to 168 hours after the deadline;
- After 168 hours, a zero mark will be given.
Impact Report
- Online
- Mode
- Written
- Category
- Paper/ Report/ Annotation
- Weight
- 25%
- Due date
23/10/2025 1:00 pm
- Learning outcomes
- L01, L02, L03, L04, L05
Task description
You are required to use economic models and theories covered in this course to explain how external shocks has impacted the macroeconomy of a country assigned to you, taking into consideration the key policy responses by the government and central bank.
The detail instruction will be provided on Blackboard > Assessment > Impact Report.
This task has been designed to be challenging, authentic and complex. Whilst students may use AI and/or MT technologies, successful completion of assessment in this course will require students to critically engage in specific contexts and tasks for which artificial intelligence will provide only limited support and guidance.
A failure to reference generative AI or MT use may constitute student misconduct under the Student Code of Conduct.
To pass this assessment, students will be required to demonstrate detailed comprehension of their written submission independent of AI and MT tools.
Submission guidelines
Submit report electronically via Turnitin on Blackboard by the deadline date and time.
Deferral or extension
You may be able to apply for an extension.
The maximum extension allowed is 7 days. Extensions are given in multiples of 24 hours.
Late submission
For the Reports, when an extension has not been previously approved, a penalty of 10 marks (out of 100) will be deducted for every 24-hour block up to 7 calendar days, at which point any submission will not receive any marks. Each 24 hour block is recorded from the time the submission is due. That is:
- 10 marks penalty if submitted within 24 hours after the deadline;
- 20 marks penalty if submitted between 24 to 48 hours after the deadline;
- 30 marks penalty if submitted between 48 to 72 hours after the deadline;
- 40 marks penalty if submitted between 72 to 96 hours after the deadline;
- 50 marks penalty if submitted between 96 to 120 hours after the deadline;
- 60 marks penalty if submitted between 120 to 144 hours after the deadline;
- 70 marks penalty if submitted between 144 to 168 hours after the deadline;
- After 168 hours, a zero mark will be given.
CML Quizzes
- Online
- Mode
- Written
- Category
- Quiz
- Weight
- 15% (Best 4 of 5)
- Due date
CML 1: 15/08/2025 - 20/08/2025
CML 2: 29/08/2025 - 3/09/2025
CML 3: 12/09/2025 - 17/09/2025
CML 4: 10/10/2025 - 15/10/2025
CML 5: 24/10/2025 - 29/10/2025
Opens 1PM Friday
Closes 1PM following Wednesday
- Learning outcomes
- L01, L02, L03, L04, L05
Task description
There are bi-weekly CML (computer-mediated learning) quizzes. It starts from Week 3 and lasts till the Week 12. There are 5 quizzes in total. The quizzes are posted and answered on Blackboard. CML instruction is provided on Blackboard.
For the 5 quizzes, each quiz covers all the material taught in the previous 2 teaching weeks as well as other materials covered in the course to date. But the latest 2 topics will have more coverage. For example, the quiz in week 5 covers the material of topics 1-4 but there will be more questions on topics 3 and 4. The quizzes cover material from lectures, required readings, and tutorials. The quiz will be opened on Blackboard at 1 pm Friday and closed at 1 pm the following teaching week Wednesday. Results and feedback are released 24 hours after a CML is closed, i.e. 1 pm Thursday.
Artificial Intelligence (AI) and Machine Translation (MT) are emerging tools that may support students in completing this assessment task. Students may appropriately use AI and/or MT in completing this assessment task. Students must clearly reference any use of AI or MT in each instance.
A failure to reference generative AI or MT use may constitute student misconduct under the Student Code of Conduct.
Submission guidelines
The quizzes are posted and answered on Blackboard.
Deferral or extension
You cannot defer or apply for an extension for this assessment.
Late submission
You will receive a mark of 0 if this assessment is submitted late.
For CML assessments, no late submission is possible. No extensions are possible, even with a medical certificate. CML access is blocked after the due date and time. Hence, you should complete as many of the CML assessments as possible during the semester to avoid not having enough CML assessments completed by end of the semester (e.g., due to sickness).
Final Exam
- In-person
- Mode
- Written
- Category
- Examination
- Weight
- 35%
- Due date
End of Semester Exam Period
8/11/2025 - 22/11/2025
- Learning outcomes
- L01, L02, L03, L04, L05
Task description
The final exam will consist of problem solving and short-answer questions.
The final exam is designed to cover all learning objectives and to test both depth and breadth of students' knowledge of material covered throughout the course.
Further details and guidelines regarding the final exam will be provided by the lecturer during class. Additionally, such information will also be posted on our course Blackboard site, ensuring accessibility to all relevant details.
Problem solving questions: marks given for the accuracy of the calculations and the interpretation of the results.
Short-answer questions: part marks may be given where some relevant knowledge is clearly demonstrated.
This assessment task is to be completed in-person. The use of generative Artificial Intelligence (AI) or Machine Translation (MT) tools will not be permitted. Any attempted use of AI or MT may constitute student misconduct under the Student Code of Conduct.
Exam details
Planning time | 10 minutes |
---|---|
Duration | 120 minutes |
Calculator options | Any calculator permitted |
Open/closed book | Open book examination - any written or printed material is permitted; material may be annotated |
Exam platform | Paper based |
Invigilation | Invigilated in person |
Submission guidelines
Deferral or extension
You may be able to defer this exam.
Course grading
Full criteria for each grade is available in the Assessment Procedure.
Grade | Cut off Percent | Description |
---|---|---|
1 (Low Fail) | 0% - 29% |
Absence of evidence of achievement of course learning outcomes. |
2 (Fail) | 30% - 46% |
Minimal evidence of achievement of course learning outcomes. |
3 (Marginal Fail) | 47% - 49% |
Demonstrated evidence of developing achievement of course learning outcomes |
4 (Pass) | 50% - 64% |
Demonstrated evidence of functional achievement of course learning outcomes. |
5 (Credit) | 65% - 74% |
Demonstrated evidence of proficient achievement of course learning outcomes. |
6 (Distinction) | 75% - 84% |
Demonstrated evidence of advanced achievement of course learning outcomes. |
7 (High Distinction) | 85% - 100% |
Demonstrated evidence of exceptional achievement of course learning outcomes. |
Additional course grading information
A student's final overall end of semester percentage mark will be rounded to determine their final grade. For example, 64.5% rounds to 65%, while 64.4% rounds to 64%.
Supplementary assessment
Supplementary assessment is available for this course.
Additional assessment information
Using AI at UQ
Visit the AI Student Hub for essential information on understanding and using Artificial Intelligence in your studies responsibly.
Plagiarism
The School of Economics is committed to reducing the incidence of plagiarism. You are encouraged to read the UQ Student Integrity and Misconduct Policy available in the Policies and Procedures section of this course profile.
The Academic Integrity Module (AIM) outlines your obligations and responsibilities as a UQ student. It is compulsory for all new to UQ students to complete the AIM.
Learning resources
You'll need the following resources to successfully complete the course. We've indicated below if you need a personal copy of the reading materials or your own item.
Library resources
Find the required and recommended resources for this course on the UQ Library website.
Additional learning resources information
It is important to visitᅠBlackboardᅠregularly for announcements, and other support material.
Learning activities
The learning activities for this course are outlined below. Learn more about the learning outcomes that apply to this course.
Filter activity type by
Please select
Learning period | Activity type | Topic |
---|---|---|
Week 1 (28 Jul - 03 Aug) |
Lecture |
Topic 1 - GDP (online) Learning outcomes: L01, L02, L03, L04, L05 |
Tutorial |
No tutorial this week |
|
Lecture |
Lecture 1 - GDP Learning outcomes: L01, L02, L03, L04, L05 |
|
Week 2 (04 Aug - 10 Aug) |
Lecture |
Topic 2: Economic Growth (online) Learning outcomes: L01, L02, L03, L04, L05 |
Tutorial |
Tutorial 1 - GDP Learning outcomes: L01, L02, L03, L04, L05 |
|
Lecture |
Lecture 2 - Economic Growth Learning outcomes: L01, L02, L03, L04, L05 |
|
Week 3 (11 Aug - 17 Aug) |
Lecture |
Topic 3 - Unemployment (online) Learning outcomes: L01, L02, L03, L04, L05 |
Tutorial |
Tutorial 2 - Economic Growth Note that Wednesday 13 August is a public holiday (Royal Queensland Show Holiday). Students signed onto a Wednesday tutorial class are invited to attend an alternative class for this week only. Learning outcomes: L01, L02, L03, L04, L05 |
|
Lecture |
Lecture 3 - Unemployment Learning outcomes: L01, L02, L03, L04, L05 |
|
Week 4 (18 Aug - 24 Aug) |
Lecture |
Topic 4 - Inflation (online) Learning outcomes: L01, L02, L03, L04, L05 |
Tutorial |
Tutorial 3 - Unemployment Learning outcomes: L01, L02, L03, L04, L05 |
|
Lecture |
Lecture 4 -Inflation Learning outcomes: L01, L02, L03, L04, L05 |
|
Week 5 (25 Aug - 31 Aug) |
Lecture |
Topic 5 - Aggregate Demand-Supply (online) Learning outcomes: L01, L02, L03, L04, L05 |
Tutorial |
Tutorial 4 - Inflation Learning outcomes: L01, L02, L03, L04, L05 |
|
Lecture |
Lecture 5 - Aggregate Demand-Supply Learning outcomes: L01, L02, L03, L04, L05 |
|
Week 6 (01 Sep - 07 Sep) |
Lecture |
Topic 6 - Fiscal Policy (online) Learning outcomes: L01, L02, L03, L04, L05 |
Tutorial |
Tutorial 5 - Aggregate Demand-Supply Learning outcomes: L01, L02, L03, L04, L05 |
|
Lecture |
Lecture 6- Fiscal Policy Learning outcomes: L01, L02, L03, L04, L05 |
|
Week 7 (08 Sep - 14 Sep) |
Lecture |
Topic 7 - Money and Banking (online) Learning outcomes: L01, L02, L03, L04, L05 |
Tutorial |
Tutorial 6 - Fiscal Policy Learning outcomes: L01, L02, L03, L04, L05 |
|
Lecture |
Lecture 7 - Money and Banking Learning outcomes: L01, L02, L03, L04, L05 |
|
Week 8 (15 Sep - 21 Sep) |
Lecture |
Topic 8 - Monetary Policy (online) Learning outcomes: L01, L02, L03, L04, L05 |
Tutorial |
Tutorial 7 - Money and Banking Learning outcomes: L01, L02, L03, L04, L05 |
|
Lecture |
Lecture 8 - Monetary Policy Learning outcomes: L01, L02, L03, L04, L05 |
|
Week 9 (22 Sep - 28 Sep) |
Lecture |
Topic 9- Open Macroeconomy (online) Learning outcomes: L01, L02, L03, L04, L05 |
Tutorial |
Tutorial 8 - Monetary Policy Learning outcomes: L01, L02, L03, L04, L05 |
|
Lecture |
Lecture 9 - Open Macroeconomy Learning outcomes: L01, L02, L03, L04, L05 |
|
Mid Sem break (29 Sep - 05 Oct) |
No student involvement (Breaks, information) |
Mid-Semester Break |
Week 10 (06 Oct - 12 Oct) |
Lecture |
Topic 10 - International Finance (online) Learning outcomes: L01, L02, L03, L04, L05 |
Tutorial |
Tutorial 9 - Open Macroeconomy Learning outcomes: L01, L02, L03, L04, L05 |
|
Lecture |
Lecture 10- International Finance Learning outcomes: L01, L02, L03, L04, L05 |
|
Week 11 (13 Oct - 19 Oct) |
Lecture |
No online topic |
Tutorial |
Tutorial 10 - International Finance Learning outcomes: L01, L02, L03, L04, L05 |
|
Lecture |
Lecture 11- International Finance II Learning outcomes: L01, L02, L03, L04, L05 |
|
Week 12 (20 Oct - 26 Oct) |
Lecture |
No online topic |
Tutorial |
Tutorial 11 - International Finance II Learning outcomes: L01, L02, L03, L04, L05 |
|
Lecture |
Review Lecture Learning outcomes: L01, L02, L03, L04, L05 |
|
Week 13 (27 Oct - 02 Nov) |
Lecture |
No online lesson this week |
Tutorial |
No tutorial this week |
|
Lecture |
No in-person lecture this week |
Policies and procedures
University policies and procedures apply to all aspects of student life. As a UQ student, you must comply with University-wide and program-specific requirements, including the:
- Student Code of Conduct Policy
- Student Integrity and Misconduct Policy and Procedure
- Assessment Procedure
- Examinations Procedure
- Reasonable Adjustments for Students Policy and Procedure
Learn more about UQ policies on my.UQ and the Policy and Procedure Library.