Course profile

Introductory Macroeconomics (ECON1020)

Study period
Sem 2 2024
Location
St Lucia
Attendance mode
In Person

Course overview

Study period
Semester 2, 2024 (22/07/2024 - 18/11/2024)
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.

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. It considers long-term economic growth in living standards in developed and in developing economies. 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. It 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: 

  1. Weekly pre-recorded online lectures during week 1 to 11 (note: there are only 10 topics)
  2. Weekly 2-hour in-person tutorial during week 2 to 12 (note: tutorial starts from week 2.)
  3. Weekly 1.5-hour in-person workshop during week 1 to 12 (note: there are only 11 workshops)

What is the difference between the workshop and lecture? At the end of each week's online lecture (to be run on an online course platform 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 workshop for that topic based on your suggestions. In addition, the course coordinator/instructor will also use the workshop 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.

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

Course coordinator

Dr Pimrak Pakdeethai

ECON1020@uq.edu.au

Please refer to the course Blackboard site for consultation information.

School enquiries

Student Enquiries, School of Economics

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 to enquiries@economics.uq.edu.au.

Enquiries relating specifically to course content should be directed to ECON1020@uq.edu.au .

Course staff

Lecturer

Dr Pimrak Pakdeethai

Tutor

Mr Alec Watson
Mr Bernardo Lohmann
Mr Lane Barry
Mr Nikhil Madala
Miss Vera Wang

Senior tutor

Miss Vera Wang

Timetable

The timetable for this course is available on the UQ Public Timetable.

Additional timetable information

Students should recheck their timetable immediately prior to the commencement of classes as late room changes may occasionally occur.

Important Dates:

  • Public Holidays:ﾠWed 14 August (Royal Queensland Show), Mon 7 October (King's Birthday).
  • Mid-Semester Break:ﾠ23 - 29 September. Semester 2 classes recommence Mon 30 September.

Tutorials start in teaching week 2.

All assessment dates are already scheduled (see Assessment section). Please write down all these dates in your personal diary at once. Block also in your diary the days during which you will need to revise to prepare for each assessment.

Please see the Learning Activities section of this Course Profile for the timetabling implications of public holidays.

Tutorial Registration: Students must select their preferred tutorial times before the end of Teaching Week 1. Please refer to your My Timetable (available via the my.UQ dashboard) for details about the tutorial preferencing and allocation process.ﾠ

Aims and outcomes