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
This course 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 and employment in closed and open economies. Role of monetary and fiscal policy, factors influencing interest rates, causes of inflation and unemployment.
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-MPﾠModel (short-term analysis of policies), and the Aggregate Demand / Aggregate Supply Model (short-term /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, which is a prerequisite for informed business decisions. ﾠ
Students will also have the opportunityﾠto analyse selected current macroeconomics issues of their choice in-depth. We will discuss how to create successful presentations and practice your presentation skills as well as provide feedback.
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 ECON2021
Restrictions
Course is restricted to students enrolled in the BAdvBus(Hons) program
Course contact
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 the Course Coordinator/Lecturer.
Course staff
Timetable
The timetable for this course is available on the UQ Public Timetable.
Additional timetable information
Workshops start in Week 1.
Public Holidays: Wed 14 August (Royal Queensland Show), Mon 7 October (King's Birthday).
In-Semester Break: 23 - 29 September. Semester 2 classes recommence Mon 30 September.
The timetable is published through the UQ Public Timetable found in the APPs section of myUQ. 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.ﾠ
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 (eg. real GDP, interest rates, inflation, unemployment, FX, 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 Macroeconomics and have the ability to apply these concepts in real world settings to make informed business decision in a dynamic economy.ﾠ
Learning outcomes
After successfully completing this course you should be able to:
LO1.
Read and understand news and reports related to Macroeconomics.
LO2.
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.
LO3.
Identify key contemporary macroeconomic problems, both domestic and international, and discuss possible solutions and potential innovations towards improving current policies and practices.
LO4.
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, tutorials, and presentations.
LO5.
Work in a group to analyze and effectively present selected topics in Macroeconomics.
Assessment
Assessment summary
| Category | Assessment task | Weight | Due date |
|---|---|---|---|
| Quiz, Tutorial/ Problem Set |
Problem Set
|
15% (best 2 out of 3 comprise 30%) |
Problem Set 1 13/08/2024 - 23/08/2024 Problem Set 2 19/08/2024 - 11/10/2024 Problem Set 3 8/10/2024 - 25/10/2024
Due 4pm Friday |
| Quiz, Reflection |
Warm up Reading Quizzes
|
10% (best 10 of 12 quizzes comprise 10*1%=10%) |
Thursdays 5pm |
| Participation/ Student contribution, Practical/ Demonstration, Presentation |
In class Team Presentations
|
20% 2*10% |
Allocated workshop. In the first 3 weeks voluntary participation is encouraged. |
| Creative Production/ Exhibition, Performance, Practical/ Demonstration, Presentation, Project |
Research Team Presentation
|
40% |
4/11/2024 - 15/11/2024
Allocated time slot in examination period |
Assessment details
Problem Set
- Online
- Mode
- Written
- Category
- Quiz, Tutorial/ Problem Set
- Weight
- 15% (best 2 out of 3 comprise 30%)
- Due date
Problem Set 1 13/08/2024 - 23/08/2024
Problem Set 2 19/08/2024 - 11/10/2024
Problem Set 3 8/10/2024 - 25/10/2024
Due 4pm Friday
- Learning outcomes
- L01, L02, L03
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.
A failure to reference generative 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 written submission independent of AI tools.
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. Only the best 2 out of 3 count.
Late submission
Penalties will be applied for late submissions as follows:
Less than 5 minutes late: 5% penalty
From 5 minutes to less than 15 minutes late: 20% penalty
More than 15 minutes late: 100% penalty
Warm up Reading Quizzes
- Online
- Mode
- Written
- Category
- Quiz, Reflection
- Weight
- 10% (best 10 of 12 quizzes comprise 10*1%=10%)
- Due date
Thursdays 5pm
- Other conditions
- Student specific.
- Learning outcomes
- L01
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 at the beginning of class and no extension will be granted, as these are ensuring that you have done the pre-class readings. Each quiz counts for 1% of the total. Only the best 10 quizzes count toward your final mark. This allows you to miss two quizzes without any impact on your mark.
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 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 tools.
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.
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. Only the best 10 out of 12 count, so you can miss 2 quizzes without penalty.
In class Team Presentations
- Identity Verified
- Team or group-based
- In-person
- Mode
- Oral
- Category
- Participation/ Student contribution, Practical/ Demonstration, Presentation
- Weight
- 20% 2*10%
- Due date
Allocated workshop. In the first 3 weeks voluntary participation is encouraged.
- Learning outcomes
- L01, L02, L03, L05
Task description
This is a new assessment to improve inclusive learning by doing and better preparing you for the final team presentation. In previous semesters, numerous students had difficulties finding a suitable team and applying economic analysis. This new assessment will help with the team formation and practice macroeconomic analysis. It also is an opportunity to practice your presentation skills (not marked).
You will form teams during our workshops and each team will give a 3-5 minute presentation of their solution to a specific task. Each workshop will have numerous tasks that are solved by students in a collaborative manner with the help of facilitators during the workshop. The solutions do not need to be 100% perfect to achieve a high mark. Learning by doing is the goal! More details TBA in our first workshop.
In the first 3 weeks voluntary participation is encouraged. Students that have not participated within the first 3 weeks will be allocated to specific workshop dates.
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 use may constitute student misconduct under the Student Code of Conduct.
Submission guidelines
Submission is the actual presentation in class. These will be recorded.
Deferral or extension
You may be able to apply for an extension.
Since this is a live presentation in front of a live audience extensions can be granted only in exceptional circumstances and require a medical certificate for the presentation day.
Late submission
You will receive a mark of 0 if this assessment is submitted late.
Research Team Presentation
- Identity Verified
- Team or group-based
- In-person
- Mode
- Activity/ Performance, Oral
- Category
- Creative Production/ Exhibition, Performance, Practical/ Demonstration, Presentation, Project
- Weight
- 40%
- Due date
4/11/2024 - 15/11/2024
Allocated time slot in examination period
- Other conditions
- Student specific, Peer assessed.
Task description
Students are allowed to use the same team as for the in-class presentations or change teams. Each team will create / choose a specific topic in coordination with the lecturer / facilitator to analyse and present. It is your job to impress us with your work using the analytical tools learned in class.
Duration:
12 minutes for a team of 3 students + 5 minutes question time (smaller / larger teams time is adjusted proportionately)
Format:
Students present in allocated time slots. Simply reading (e.g, notes) is not allowed! All team members shall participate equally.
All presentations are recorded.
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.
Submission guidelines
After the presentation, the slides are uploaded on blackboard as a formality. The marks are determined by the actual presentation.
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 & Guidelines. 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 (22 Jul - 28 Jul) |
Workshop |
Introduction (Macroeconomic measures including GDP, inflation and employment) Learning outcomes: L01, L03, L05 |
Week 2 (29 Jul - 04 Aug) |
Workshop |
Economic Growth Introduction Learning outcomes: L01, L03, L05 |
Week 3 (05 Aug - 11 Aug) |
Workshop |
Economic Growth Solow Learning outcomes: L01, L02, L03, L05 |
Week 4 (12 Aug - 18 Aug) |
Workshop |
Economic Growth Romer Learning outcomes: L01, L02, L03, L05 |
Week 5 (19 Aug - 25 Aug) |
Workshop |
Money and Inflation in the long run Learning outcomes: L01, L02, L03, L05 |
Week 6 (26 Aug - 01 Sep) |
Workshop |
IS-MP Model, the IS curve (Fiscal Policy) Learning outcomes: L01, L02, L03, L05 |
Week 7 (02 Sep - 08 Sep) |
Workshop |
IS-MP Model, the MP curve (Monetary Policy) Learning outcomes: L01, L02, L03, L05 |
Week 8 (09 Sep - 15 Sep) |
Workshop |
International Trade and Capital Flows (International trade and globalisation, balance of payments and exchange rates, financial markets) Learning outcomes: L01, L02, L03, L05 |
Week 9 (16 Sep - 22 Sep) |
Workshop |
AD - AS Model Learning outcomes: L01, L02, L03, L05 |
Mid Sem break (23 Sep - 29 Sep) |
No student involvement (Breaks, information) |
Mid-Semester Break |
Week 10 (30 Sep - 06 Oct) |
Workshop |
AD - AS Model Learning outcomes: L01, L02, L03, L05 |
Week 11 (07 Oct - 13 Oct) |
Workshop |
Thinking Across Time (Financial Markets) Learning outcomes: L01, L02, L03, L05 |
Week 12 (14 Oct - 20 Oct) |
Workshop |
Current Issues Learning outcomes: L01, L02, L03, L05 |
Week 13 (21 Oct - 27 Oct) |
Workshop |
Current Issues, Revision, Final Presentation Hints Learning outcomes: L01, L02, L03, L05 |
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.