Course coordinator
Dr Axel Wieneke
Course overview
- Study period
- Semester 1, 2025 (24/02/2025 - 21/06/2025)
- Study level
- Undergraduate
- Location
- St Lucia
- Attendance mode
- In Person
- Units
- 2
- Administrative campus
- St Lucia
- Coordinating unit
- Economics School
Provides students with tools of macroeconomic analysis. These tools are developed from an introductory to an intermediate level and covers determinants of national expenditure, income & employment in closed & open economies, role of monetary & fiscal policy, factors influencing interest rates, and causes of inflation & unemployment.
ECON2021 is a core course in the BAdvFinEcon (Hons) and serves as prerequisite course for ECON2040 (Macroeconomic Policy) and ECON3020 (Advanced Macroeconomics). In this course, topics in macroeconomic theory will be introduced and then analysed at an intermediate level. Particular focus will be placed on Growth Models (long-term analysis), the IS-MP Model (short-term analysis of policies), and the Aggregate Demand / Aggregate Supply Model (medium-term analysis of policies). As a result, you will get an intermediate understanding of business cycles, fiscal and monetary policy, as well as interest rates and exchange rates determinations. Students will also have the opportunityﾠto analyse selected current macroeconomics issues in-depth.ﾠ
Course requirements
Assumed background
Students are expected to be proficient with calculus. Furthermore, students are expected to show an interest in domestic and international economic developments, e.g. by following the news.
Incompatible
You can't enrol in this course if you've already completed the following:
(ECON1020 and 2020) or 2022
Restrictions
Restricted to students enrolled in BAdvFinEcon(Hons)
Course contact
School enquiries
School 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 toﾠenquiries@economics.uq.edu.au.ﾠ
Enquiries relating specifically to course content should be directed to the Course Coordinator/Lecturer.
Course staff
Lecturer
Dr Axel Wieneke
Tutor
Mr Joshua Venables
Mr Hugh O'Donnell
Mr Luke Ames
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.
In addition to the tutorials we will have presentation times. You will have to attend the 2 hour presentation block in which your team is presenting. The allocation of presentation times will be organized during the semester.ﾠ
Please see the Learning Activities section of this Course Profile for the timetabling implications of public holidays.
Important Dates:
· Public Holidays: Fri 18 April (Good Friday), Mon 5ﾠMay (Labour Day).
· Mid-Semester Break: 21ﾠApril - 25ﾠApril. Semester 1 classes recommence on Mon 28ﾠApril.
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
The aim of the course is to guide students towards a theoretical understanding at the intermediate level of the key relationships and causal links between major macroeconomic aggregates (e.g., real GDP, interest rates, inflation, unemployment etc.). This, in turn, permits an understanding of the role and workings of macroeconomic policy and provides a coherent, analytical framework from which to critically evaluate these policies. At the end of the course, participants should be able to understand the concepts underlying modern Macroeconomic theories and have the ability to apply these concepts in real world settings.
Learning outcomes
After successfully completing this course you should be able to:
LO1.
Command and utilise core theoretical macroeconomic models to explain real world observations, problems and puzzles. This command will show sensitivity for how macroeconomic conditions vary across countries and / or over time.
LO2.
Identify key contemporary macroeconomic problems, both domestic and international, and discuss possible solutions and potential innovations towards improving current policies and practices.
LO3.
Collect, analyse and organise macroeconomic information and ideas independently from sources such as the ABS and the RBA, through wider reading and online searches and to convey those ideas clearly and
fluently in both written forms in examination settings and spoken forms in lectures and tutorials.
LO4.
Analyse and present selected topics in Macroeconomics.
Assessment
Assessment summary
| Category | Assessment task | Weight | Due date |
|---|---|---|---|
| Quiz, Tutorial/ Problem Set |
Problem Set 1
|
10% |
17/03/2025 - 31/03/2025
Due 5pm Friday |
| Quiz, Tutorial/ Problem Set |
Problem Set 2
|
10% |
28/04/2025 - 9/05/2025
Due 5pm Friday |
| Tutorial/ Problem Set |
Problem Set 3
|
10% |
12/05/2025 - 30/05/2025
Due 5pm Friday |
| Quiz, Reflection |
Pre-class Reading Quizzes
|
10% 10*1% = 10% (best 10 out of 12) |
Weekly 13:05 pm Thursdays |
| Presentation |
Draft
|
10% |
23/05/2025
Start preparing as early as you like. Latest submission 5pm 23/05/2024 |
| Creative Production/ Exhibition, Performance, Practical/ Demonstration, Presentation, Project |
Team Presentation
|
50% |
Allocated time slot in Examination Period. We will offer a lot of times for you to chose from. Typically 5 teams will present in a two hour block. More details TBA in class + blackboard. |
A hurdle is an assessment requirement that must be satisfied in order to receive a specific grade for the course. Check the assessment details for more information about hurdle requirements.
Assessment details
Problem Set 1
- Online
- Mode
- Written
- Category
- Quiz, Tutorial/ Problem Set
- Weight
- 10%
- Due date
17/03/2025 - 31/03/2025
Due 5pm Friday
- Learning outcomes
- L01
Task description
There will be 3 online, open book, non-invigilated tests / problem sets. These replace the mid-semester exam and part of the final exam and will therefore be more difficult and longer than the Warm-Up Reading Quizzes. The format includes MCQ, SAQ, fill in the blanks, calculus and graphical answers. The idea is to attempt these tests parallel to the according lecture and in previous semesters, students used several hours for each test.
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.
Submission guidelines
Blackboard
Deferral or extension
You cannot defer or apply for an extension for this assessment.
These online problem sets / tests are available for numerous weeks and are meant to be worked on continuously, with the exception of one timed test. The solutions are published shortly after due date.
Late submission
A penalty of 10% of the maximum possible mark will be deducted per 24 hours from time submission is due for up to 7 days. After 7 days, you will receive a mark of 0.
Problem Set 2
- Online
- Mode
- Written
- Category
- Quiz, Tutorial/ Problem Set
- Weight
- 10%
- Due date
28/04/2025 - 9/05/2025
Due 5pm Friday
- Learning outcomes
- L01
Task description
There will be 3 online, open book, non-invigilated tests / problem sets. These replace the mid-semester exam and part of the final exam and will therefore be more difficult and longer than the Warm-Up Reading Quizzes. The format includes MCQ, SAQ, fill in the blanks, calculus and graphical answers. The idea is to attempt these tests parallel to the according lecture and in previous semesters, students used several hours for each test.
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.
Submission guidelines
Blackboard
Deferral or extension
You cannot defer or apply for an extension for this assessment.
These online problem sets / tests are available for numerous weeks. Problem Set 2 is a timed MCQ test requiring you to prepare in advance before starting the test.
The solutions are published shortly after due date.
Late submission
A penalty of 10% of the maximum possible mark will be deducted per 24 hours from time submission is due for up to 7 days. After 7 days, you will receive a mark of 0.
Problem Set 3
- Online
- Mode
- Written
- Category
- Tutorial/ Problem Set
- Weight
- 10%
- Due date
12/05/2025 - 30/05/2025
Due 5pm Friday
- Learning outcomes
- L01
Task description
There will be 3 online, open book, non-invigilated tests / problem sets. These replace the mid-semester exam and part of the final exam and will therefore be more difficult and longer than the Warm-Up Reading Quizzes. The format includes MCQ, SAQ, fill in the blanks, calculus and graphical answers. The idea is to attempt these tests parallel to the according lecture and in previous semesters, students used several hours for each test.
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.
Submission guidelines
Blackboard
Deferral or extension
You cannot defer or apply for an extension for this assessment.
These online problem sets / tests are available for numerous weeks and are meant to be worked on continuously, with the exception of one timed test. The solutions are published shortly after due date.
Late submission
A penalty of 10% of the maximum possible mark will be deducted per 24 hours from time submission is due for up to 7 days. After 7 days, you will receive a mark of 0.
Pre-class Reading Quizzes
- Online
- Mode
- Written
- Category
- Quiz, Reflection
- Weight
- 10% 10*1% = 10% (best 10 out of 12)
- Due date
Weekly 13:05 pm Thursdays
Task description
There will be 12 short online quizzes with 10 - 15 questions each. Each quiz will be available for several days and is not timed. The quiz questions will relate to reading exercises for future classes and / or topics from previous lectures. The exact timing of the quizzes will be announced on blackboard.
Each quiz will be due 13:05 pm Thursdays and no extension will be granted, as these are ensuring that you have done the pre-class readings. You should do the reading the day / evening beforehand, but UQ rules do not allow due dates after 5pm / before 1pm. Hence the due date at the start of class.
Is it possible to use AI? Maybe, but it undermines the chance that you learn something from these very short readings and will result in poor performance in other assessments.
Only the best 10 quizzes count to your final mark.
Submission guidelines
Quizzes are to be submitted via Blackboard by the due date and time.
Deferral or extension
You cannot defer or apply for an extension for this assessment.
Only the best 10 out of 12 count, so you can miss 2 quizzes without penalty.
Late submission
You will receive a mark of 0 if this assessment is submitted late.
This is a pre-class reading quiz. Late reading / submission would undermine the preparation for class.
Draft
- Online
- Mode
- Written
- Category
- Presentation
- Weight
- 10%
- Due date
23/05/2025
Start preparing as early as you like. Latest submission 5pm 23/05/2024
- Learning outcomes
- L01, L02
Task description
Student create teams early in the semester. Depending on the research the team wishes to do, the preparation can start in the middle or towards the end of the semester. The latest time for draft submission is 23rd of May (Debt sustainability is a great topic and covered in week 11). Note that earlier submissions of draft imply early feedback for improvements.
Expected Workload:
Less than 8 hours including team meetings
Format:
Submit a draft of the slide set that demonstrates the structure of your planned presentation and the model(s) and data that you wish to use. No detailed scripts! We discourage scripts for presentations! Some bullet points outlining your thought will be sufficient.
Whilst you are allowed to use AI to support the creation of your graphs etc., no marker enjoys reading mediocre AI drafts! We are not policing AI use, but you cannot expect lots of helpful feedback on drafts that have been produced with minimum effort and which exhibits a clear lack of models learned in class (typical for AI).
Submission guidelines
upload in blackboard
Deferral or extension
You cannot defer or apply for an extension for this assessment.
You may submit earlier. This draft and due date serve the purpose to induce timely preparation for your presentation.
Late submission
You will receive a mark of 0 if this assessment is submitted late.
Team Presentation
- Hurdle
- Identity Verified
- Team or group-based
- In-person
- Mode
- Activity/ Performance, Oral
- Category
- Creative Production/ Exhibition, Performance, Practical/ Demonstration, Presentation, Project
- Weight
- 50%
- Due date
Allocated time slot in Examination Period. We will offer a lot of times for you to chose from. Typically 5 teams will present in a two hour block. More details TBA in class + blackboard.
- Other conditions
- Student specific, Peer assessed.
Task description
Students create teams of 3 during the semester. Each team will create / choose a specific research topic in coordination with the lecturer / tutor to analyse and present. We encourage and support work integrated topics. It is your job to impress us with your work by demonstrating your expertise using the analytical tools learned in class.
Duration:
15 minutes for a team of 3 students + 5 minutes question time
Format:
Students present in allocated time slots. Simply reading (e.g, notes) is not allowed and read information cannot earn any marks. All team members shall participate equally.
This task has been designed to be challenging, authentic and complex. Whilst students may use AI 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 AI 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 submission independent of AI tools.
Workload:
We expect that each team member spend more than 15 hours in preparation for this presentation.
Hurdle requirements
You need to achieve at least 30% in this assessment. Note, that such low marks are typically the result of extremely poor performance in the INDIVIDUAL Q&A part. Whilst the presentation preparation and actual presentation is meant to be a true team effort, we do acknowledge and mark significant discrepancies in team members' exhibited expertise during the presentation and Q&A. You need to have sufficient ECON2021 expertise to pass this course. Whilst your are allowed to use AI for your preparation, there is a risk that AI is "teaching" you wrong content, leading to poor performance in Q&A.Submission guidelines
The slide-set can be uploaded AFTER your actual presentation. Your performance in the live presentation + Q&A is determining the mark. The upload is just a formality.
Deferral or extension
You may be able to apply for an extension.
Since this is a live team presentation in front of a live audience extensions can be granted only in exceptional circumstances and require a medical certificate for the presentation day. To ensure that medical certificates are not abused to gain more preparation time, the teams have to submit their prepared slide-set and the decision for the extension is based on the state of preparation. In case the medical certificate is covering at least 8 days before the due date, the team will be split up and an alternative oral assessment will be granted to the team member with medical certificate.
Late submission
You will receive a mark of 0 if this assessment is submitted late.
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
Plagiarism
The School of Economics is committed to reducing the incidence of plagiarism. Further information on plagiarism and how to avoid an allegation of plagiarism is available in this course profile under Policies & Procedures. Please refer to the Academic Integrity Module (AIM). It is strongly recommended that you complete the AIMﾠif you have not already done so.
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.
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 (24 Feb - 02 Mar) |
Lecture |
Introduction Learning outcomes: L01, L02 |
Week 2 (03 Mar - 09 Mar) |
Lecture |
Economic Growth |
Week 3 (10 Mar - 16 Mar) |
Lecture |
Economic Growth |
Week 4 (17 Mar - 23 Mar) |
Lecture |
Economic Growth Learning outcomes: L01, L02 |
Week 5 (24 Mar - 30 Mar) |
Lecture |
Money and Inflation in the long run Learning outcomes: L01, L02 |
Week 6 (31 Mar - 06 Apr) |
Lecture |
IS-MP Model, the IS curve Learning outcomes: L01, L02 |
Week 7 (07 Apr - 13 Apr) |
Lecture |
IS-MP Model, the MP curve Learning outcomes: L01, L02 |
Week 8 (14 Apr - 20 Apr) |
Lecture |
IS-MP-BP Model: International Context |
No student involvement (Breaks, information) |
Good Friday - Public Holiday Students who normally attend tutorial on this day are advised to attend another session, for this week only. |
|
Mid-sem break (21 Apr - 27 Apr) |
No student involvement (Breaks, information) |
Mid-Semester Break |
Week 9 (28 Apr - 04 May) |
Lecture |
AD - AS Model |
Week 10 (05 May - 11 May) |
Lecture |
AD - AS Model Learning outcomes: L01, L02 |
No student involvement (Breaks, information) |
Labour Day - Public Holiday Students who normally attend tutorial on this day are advised to attend another session, for this week only. |
|
Week 11 (12 May - 18 May) |
Lecture |
Debt and Debt Dynamics |
Week 12 (19 May - 25 May) |
Lecture |
Current Issues & Review |
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 - Students Policy and Procedure
Learn more about UQ policies on my.UQ and the Policy and Procedure Library.