Course coordinator
Dr Ross Guest
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
Analysis of the macroeconomy as a complex system. How macroeconomic factors and domestic macroeconomic policies affect the business conditions faced by large and small firms. Introduction to macroeconomic modelling, forecasting and scenario planning.
ECON2420 provides a comprehensive analysis of the impact of macroeconomic conditions on business performance and decision-making. Throughout the course, we will delve into various macroeconomic factors, including aggregate demand for goods and services, interest rates, monetary policy, fiscal policy, exchange rates, the labor market, and the international economy. These factors will be examined within the context of macroeconomic fluctuations such as recessions, booms, and occasional economic and financial crises.
It is important to note that ECON2420 is not compatible with ECON2020. Consequently, if you are currently enrolled in the BEcon program, this course unfortunately cannot be credited towards your degree under the existing regulations. Furthermore, it is crucial to understand that this course does not serve as an equivalent or formal prerequisite for further studies in macroeconomics.
ECON2420 has been specifically designed to cater to students who are not enrolled in an Economics degree program but have a keen interest in gaining exposure to simplified explanations of key concepts covered in other Economics courses. These concepts are intended to be of practical use and to captivate a wider audience.
Course requirements
Assumed background
While having a background in ECON1020 (Introductory Macroeconomics) provides a significant advantage, it is important to note that capable students without this prerequisite can still successfully complete this course. It is possible to grasp the subject matter and meet the requirements even without prior knowledge of ECON1020.
It is worth mentioning that in macroeconomics, several terms, such as "saving" and "investment," have technical meanings that may differ from their conventional usage in everyday language. Throughout the course, we will ensure a comprehensive understanding of these terms within the context of macroeconomics, clarifying any discrepancies between their technical and everyday interpretations.
Prerequisites
You'll need to complete the following courses before enrolling in this one:
ECON1020 or 1011
Incompatible
You can't enrol in this course if you've already completed the following:
ECON2020
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
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
The aims of this course are for students to:
- Understand key macroeconomic topics.
- Acquire an integrated view of macroeconomics.
- Analyse how the workings of fiscal andﾠmonetary policy impact on the economy.
- Analyse the determinants of economic growth.
Learning outcomes
After successfully completing this course you should be able to:
LO1.
Explain the macroeconomics variables and the notion of equilibrium in the goods market and the determination of output.
LO2.
Explain the labour market equilibrium and the equilibrium in all three markets - goods, financial and labour - together.
LO3.
Explain the interplay between capital accumulation and growth, and explain the impact of technological progress on the growth rate of economies.
LO4.
Explain the real interest rate, nominal interest rate, and expected present discount value.
LO5.
Explain the implications of openness in goods markets and financial markets, and also know equilibrium in the goods market in an open economy.
LO6.
Utilise the IS-LM model to elucidate the impacts on the open economy.
Assessment
Assessment summary
| Category | Assessment task | Weight | Due date |
|---|---|---|---|
| Tutorial/ Problem Set | Problem Set | 30% |
29/08/2024 4:00 pm |
| Quiz |
Lecture quiz 1
|
10% Best 3 of 4 |
28/08/2025 4:00 pm
30 minute quiz conducted during the regular lecture time. |
| Quiz |
Lecture quiz 2
|
10% Best 3 of 4 |
11/09/2025 4:00 pm
30 minute quiz conducted during the regular lecture time. |
| Quiz |
Lecture quiz 3
|
10% Best 3 of 4 |
25/09/2025 4:00 pm
30 minute quiz conducted during the regular lecture time. |
| Quiz |
Lecture quiz 4
|
10% Best 3 of 4 |
16/10/2025 4:00 pm
30 minute quiz conducted during the regular lecture time. |
| Paper/ Report/ Annotation | Assignment | 40% |
31/10/2025 4:00 pm |
Assessment details
Problem Set
- Mode
- Written
- Category
- Tutorial/ Problem Set
- Weight
- 30%
- Due date
29/08/2024 4:00 pm
Task description
This is a set of problems and questions requiring explanations and calculations. They are based on lectures and tutorials 1 to 3 inclusive.
Note on use of AI in this assessment.
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
Blackboard
Deferral or extension
You may be able to apply for an extension.
Extensions are limited to 14 days to ensure timely feedback to other students.
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.
Lecture quiz 1
- In-person
- Mode
- Written
- Category
- Quiz
- Weight
- 10% Best 3 of 4
- Due date
28/08/2025 4:00 pm
30 minute quiz conducted during the regular lecture time.
- Other conditions
- Time limited.
- Learning outcomes
- L01, L02
Task description
30 minute quiz conducted during the regular lecture time.
There are 4 lecture quizzes worth 10% each. Students choose any 3 of these tests for a total of 30% assessment.
The quizzes will be conducted in Lectures 5, 7, 9 and 11.
No deferred quizzes will be offered.
Note on use of AI in this assessment.
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.
Submission guidelines
Submit in hard copy during the lecture.
Deferral or extension
You cannot defer or apply for an extension for this assessment.
The quizzes are not be deferrable. However, there are 4 tests (in each of 4 lectures). If students sit all 4 tests they would be given their best 3 marks. Otherwise, if students miss one or two tests they would not forfeit any marks.
Late submission
You will receive a mark of 0 if this assessment is submitted late.
Lecture quiz 2
- In-person
- Mode
- Written
- Category
- Quiz
- Weight
- 10% Best 3 of 4
- Due date
11/09/2025 4:00 pm
30 minute quiz conducted during the regular lecture time.
- Other conditions
- Time limited.
- Learning outcomes
- L01, L05, L06
Task description
30 minute quiz conducted during the regular lecture time.
There are 4 lecture quizzes worth 10% each. Students choose any 3 of these tests for a total of 30% assessment.
The quizzes will be conducted in Lectures 5, 7, 9 and 11.
No deferred quizzes will be offered.
Note on use of AI in this assessment.
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.
Submission guidelines
Submit in hard copy during the lecture.
Deferral or extension
You cannot defer or apply for an extension for this assessment.
The quizzes are not be deferrable. However, there are 4 tests (in each of 4 lectures). If students sit all 4 tests they would be given their best 3 marks. Otherwise, if students miss one or two tests they would not forfeit any marks.
Late submission
You will receive a mark of 0 if this assessment is submitted late.
Lecture quiz 3
- In-person
- Mode
- Written
- Category
- Quiz
- Weight
- 10% Best 3 of 4
- Due date
25/09/2025 4:00 pm
30 minute quiz conducted during the regular lecture time.
- Other conditions
- Time limited.
- Learning outcomes
- L01, L04, L06
Task description
30 minute quiz conducted during the regular lecture time.
There are 4 lecture quizzes worth 10% each. Students choose any 3 of these tests for a total of 30% assessment.
The quizzes will be conducted in Lectures 5, 7, 9 and 11.
No deferred quizzes will be offered.
Note on use of AI in this assessment.
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.
Submission guidelines
Submit in hard copy during the lecture.
Deferral or extension
You cannot defer or apply for an extension for this assessment.
The quizzes are not be deferrable. However, there are 4 tests (in each of 4 lectures). If students sit all 4 tests they would be given their best 3 marks. Otherwise, if students miss one or two tests they would not forfeit any marks.
Late submission
You will receive a mark of 0 if this assessment is submitted late.
Lecture quiz 4
- In-person
- Mode
- Written
- Category
- Quiz
- Weight
- 10% Best 3 of 4
- Due date
16/10/2025 4:00 pm
30 minute quiz conducted during the regular lecture time.
- Other conditions
- Time limited.
- Learning outcomes
- L01, L03, L05, L06
Task description
30 minute quiz conducted during the regular lecture time.
There are 4 lecture quizzes worth 10% each. Students choose any 3 of these tests for a total of 30% assessment.
The quizzes will be conducted in Lectures 5, 7, 9 and 11.
No deferred quizzes will be offered.
Note on use of AI in this assessment.
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.
Submission guidelines
Submit in hard copy during the lecture.
Deferral or extension
You cannot defer or apply for an extension for this assessment.
The quizzes are not be deferrable. However, there are 4 tests (in each of 4 lectures). If students sit all 4 tests they would be given their best 3 marks. Otherwise, if students miss one or two tests they would not forfeit any marks.
Late submission
You will receive a mark of 0 if this assessment is submitted late.
Assignment
- Mode
- Written
- Category
- Paper/ Report/ Annotation
- Weight
- 40%
- Due date
31/10/2025 4:00 pm
- Learning outcomes
- L01, L02, L03, L04, L05, L06
Task description
Students are required to write an analysis of the Reserve Bank of Australia Statement on Monetary Policy, February 2025. Students are given a set of specific questions requiring an explanation of various graphs and statements in the RBA’s document in terms of the models, concepts and economic mechanisms that have been covered in the course. The assignment covers all topics in the course. Further details will be provided.
Note on use of AI in this assessment.
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
To be submitted by the due date and time via turnitin, BB.
Deferral or extension
You may be able to apply for an extension.
Extensions are limited to 14 days to ensure timely feedback to other students.
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.
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.
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 |
L1 Introduction. What business needs to know about macroeconomics. Reference: Abel et al. Chs 1, 2 Learning outcomes: L01, L02, L03 |
Week 2 (04 Aug - 10 Aug) |
Lecture |
L2 Business cycles. Reference: Abel et al., Ch. 8 Learning outcomes: L01, L02 |
Tutorial |
T1 Required text. Ch 1. Review questions 9, 10 Analytical problem 1. Ch 2. Numerical problems 1, 4 Learning outcomes: L01, L02, L03 |
|
Week 3 (11 Aug - 17 Aug) |
Lecture |
L3 Asset market, money and prices. Reference: Abel et al., Ch.7 Learning outcomes: L01, L04 |
Tutorial |
T2 Abel et al. Ch 8. Review questions 4, 5, 6, 7, 8. Analytical problems 2, 3 Learning outcomes: L01, L02 |
|
Week 4 (18 Aug - 24 Aug) |
Lecture |
L4 IS-LM-AS model. Reference: Abel et al., Ch.9 Learning outcomes: L01, L02, L03 |
Tutorial |
T3 Abel et al., Ch 7. Review questions 9,10 Analytical problem 4 Numerical problems 2, 4 Learning outcomes: L01, L04 |
|
Week 5 (25 Aug - 31 Aug) |
Lecture |
L5 The labour market; wage and price flexibility and rigidity. Reference: Abel et al., Chs 10, 11 Learning outcomes: L02 |
Tutorial |
T4 Abel et a.., Ch 9. Review questions 1, 2, 3, 4, 6, 7. Learning outcomes: L01, L02, L03 |
|
Week 6 (01 Sep - 07 Sep) |
Lecture |
L6 Unemployment and inflation. Reference: Abel et al., Ch 12 Learning outcomes: L01, L02 |
Tutorial |
T5 Abel et al. Ch 10. Review questions 6, 9. Analytical problems 1, 2. Learning outcomes: L02 |
|
Week 7 (08 Sep - 14 Sep) |
Lecture |
L7 Consumption, Saving and Investment in an Open Economy. Abel et al., Chs 4, 5 Learning outcomes: L04, L05, L06 |
Tutorial |
T6 Abel et al. Ch 12. Review questions 2, 3, 4, 5. Analytical problems 1, 5, 6 Learning outcomes: L01, L02 |
|
Week 8 (15 Sep - 21 Sep) |
Lecture |
L8 Macroeconomic policy in an open economy Reference: Abel et al., Ch 13 Learning outcomes: L05, L06 |
Tutorial |
T7 Abel et al. Ch 4. Review questions 4, 5, 8, 9 . Analytical problems 1, 2 Learning outcomes: L04, L05, L06 |
|
Week 9 (22 Sep - 28 Sep) |
Lecture |
L9 Monetary policy Reference: Abel et al., Ch 14 Learning outcomes: L01, L02, L04 |
Tutorial |
T8 Abel et al. Ch 13. Review questions 3, 5. Analytical problems 1, 2, 3 Learning outcomes: L05, L06 |
|
Mid Sem break (29 Sep - 05 Oct) |
No student involvement (Breaks, information) |
Mid-semester break No classes |
Week 10 (06 Oct - 12 Oct) |
Lecture |
L10 Government spending and financing. Reference: Abel et al., Ch 15 Learning outcomes: L01, L02, L04, L05, L06 |
Tutorial |
T9 Abel et al., Ch 14. Review questions 2, 4, 7, 9, 11.Analytical problems 1, 2. Learning outcomes: L01, L02, L04 |
|
Week 11 (13 Oct - 19 Oct) |
Lecture |
L11 Long Run Economic Growth. Reference: Abel et al., Chs 3, 6 Learning outcomes: L03 |
Tutorial |
T10 Abel et al., Ch 15. Review questions 5, 8. Analytical problems 2, 3, 4 Learning outcomes: L01, L02, L04, L05, L06 |
|
Week 12 (20 Oct - 26 Oct) |
Lecture |
L12 Revision of the course content. Learning outcomes: L01, L02, L03, L04, L05, L06 |
Tutorial |
T11 Abel et al., Ch 6. Review questions 1, 3. Analytical problems 1, 2, 5, 6 Learning outcomes: L01, L02, L03, L04, L05, L06 |
|
Week 13 (27 Oct - 02 Nov) |
Lecture |
L13 Review of the course Learning outcomes: L01, L02, L03, L04, L05, L06 |
Tutorial |
T12 Questions to be provided in Blackboard (these are not from the text). Learning outcomes: L01, L02, L03, L04, L05, L06 |
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.