Course coordinator
Dr Pimrak Pakdeethai
Course overview
- Study period
- Semester 1, 2025 (24/02/2025 - 21/06/2025)
- Study level
- Postgraduate Coursework
- Location
- St Lucia
- Attendance mode
- In Person
- Units
- 2
- Administrative campus
- St Lucia
- Coordinating unit
- Economics School
This is an introductory course in Macroeconomics. This course covers important macroeconomic issues such as growth, inflation, unemployment, interest rates, exchange rates, technological progress, and budget deficits. The course will provide a unified framework to address these issues and to study the impact of different policies, such as monetary and fiscal policies, on the aggregate behavior of individuals.
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.ﾠIt 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
ECON7001 is a blended-learning course with the following learning activities:ﾠ
- Weeklyﾠpre-recorded online lectures (UQX)ﾠduring Week 1 to 5 and 9 to 13 (note: there are only 10 topics)
- Weeklyﾠ2-hour in-person tutorialsﾠduring Week 1 to 13 (note:ﾠtutorial starts from Week 1).
- Weekly 2-hour in-person lecturesﾠduring Week 1 to 5 and 9 to 13
What is the difference between the online lectures and in-person lecture? At the end of each week's prerecordedﾠonline lecture (to be run on an online courseﾠplatform calls UQX), there will be aﾠsurveyﾠfor you to indicate the part of that week's topic that isﾠdifficultﾠand needs more elaboration. The course coordinator/instructor will then organise the content of the in-person lecture for that topic based on your suggestions. In addition,ﾠthe course coordinator/instructorﾠwill also use the in-person to discuss someﾠrelevant current macroeconomic eventsﾠin the content of the course.
In-Person Mode Only
Beginning this semester (S1 2025),ﾠthis course is offered via in-person mode only. This means that both the tutorial sessions and the in-person lectures will be held only on campus and face-to-face. Students must show up in their sign-on tutorial for a presentation.ﾠ
Course requirements
Assumed background
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 ECON7000ﾠ(Foundations inﾠMicroeconomics) is recommended but not required.
Mathematicsﾠ-ﾠThe assumed mathematical background of people enrolling in ECON7001ﾠis 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. ECON7021, ECON7040) often involve more mathematics. So, if you are planning to take later core microeconomics or macroeconomics courses, we advise you to take ﾠECON7150 ﾠor its equivalent ﾠearly ﾠin your degree program, especially if your maths background is weak.
Incompatible
You can't enrol in this course if you've already completed the following:
ECON1020 and ECON7020
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
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 1
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
This course aims to provide you with a grasp of essential macroeconomic concepts and theories, enablingﾠ you 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 |
|---|---|---|---|
| Tutorial/ Problem Set | Tutorial Preparation | 10% (Best 8 of 9) |
3/03/2025 1:00 pm 10/03/2025 1:00 pm 17/03/2025 1:00 pm 24/03/2025 1:00 pm 28/04/2025 1:00 pm 6/05/2025 1:00 pm 12/05/2025 1:00 pm 19/05/2025 1:00 pm 26/05/2025 1:00 pm
Each tutorial submission is due 1pm Monday the same week of tutorials except
|
| Creative Production/ Exhibition, Paper/ Report/ Annotation, Participation/ Student contribution, Presentation, Reflection |
Policy Analysis + Infographic Presentation (Part A)
|
15% |
31/03/2025 - 14/04/2025 5pm 24/03/2025 - 28/03/2025
|
| Paper/ Report/ Annotation, Participation/ Student contribution |
Policy Brief + Infographic (Part B)
|
40% |
26/05/2025 1:00 pm
B1 is submitted via Turnitin and B2 is submitted via Bb by the due date and time. |
| Examination |
Final Exam
|
35% |
End of Semester Exam Period 7/06/2025 - 21/06/2025 |
Assessment details
Tutorial Preparation
- Mode
- Written
- Category
- Tutorial/ Problem Set
- Weight
- 10% (Best 8 of 9)
- Due date
3/03/2025 1:00 pm
10/03/2025 1:00 pm
17/03/2025 1:00 pm
24/03/2025 1:00 pm
28/04/2025 1:00 pm
6/05/2025 1:00 pm
12/05/2025 1:00 pm
19/05/2025 1:00 pm
26/05/2025 1:00 pm
Each tutorial submission is due 1pm Monday the same week of tutorials except
- Week 1 and Weeks 6-8 (no tutorial submission)
- Week 10 (due 1pm Tuesday).
- Learning outcomes
- L01, L02, L03, L04, L05
Task description
Students are required to make a tutorial submission by attempting at least 50% of the tutorial questions by the beginning of each tutorial week. There will be 9 tutorial submissions and only the 8 best tutorial submissions will be counted (i.e. the 1 lowest scoring submission will be discarded). Tutorial preparation must be completed via Blackboard by 1pm on the Monday (Weeks 2-5, 9, and 11-13) and 1pm on Tuesday 6 May (Week 10). Even though there will be no tutorial submissions in Weeks 6-8, tutorial sessions will run as normal for presentations.
This assessment task evaluates students' abilities, skills and knowledge without the aid of generative Artificial Intelligence (AI) or Machine Translation (MT). Students are advised that the use of AI or MT technologies to develop responses is strictly prohibited and may constitute student misconduct under the Student Code of Conduct.
Submission guidelines
Handwritten or typed answers are acceptable in a pdf file and to be submitted via Blackboard Submission Link by a due date each week.
Deferral or extension
You cannot defer or apply for an extension for this assessment.
As this assessment item is best 8 out of 9, there is no extension.
Late submission
You will receive a mark of 0 if this assessment is submitted late.
Policy Analysis + Infographic Presentation (Part A)
- Team or group-based
- In-person
- Mode
- Activity/ Performance, Oral, Written
- Category
- Creative Production/ Exhibition, Paper/ Report/ Annotation, Participation/ Student contribution, Presentation, Reflection
- Weight
- 15%
- Due date
31/03/2025 - 14/04/2025
5pm 24/03/2025 - 28/03/2025
- Students must present their infographic during the allocated timeslot in their sign-on tutorials between Week 6-8.
- The Presentation File is due on 28 Mar, 5pm (regardless of the allocated time slot of presentation)
- Learning outcomes
- L01, L02, L03, L04, L05
Task description
● Students can choose to form a group of 2 (by themselves) or work individually. In both stances, each student must self-enrol into a preset presentation group (of a maximum 2) in Blackboard by 1pm, Thursday 13 March 2025. Any students who fail to self-enrol into a presentation group by the due date is expected to work on their own.
● Students will present during their sign-on tutorials in weeks 6-8.
● If you choose to work in a group, both group members must sign-on in the same tutorial session. If not, please send a request to change the tutorial sign-on to student and academic administration (enquiries@economics.uq.edu.au) and include ECON7001 in the subject line.
● Students will be randomly allocated a country
● Students are then asked to choose one from a list of contemporary policy issues concerning the allocated country, e.g.:
- Rising cost of living
- Rising national debt
- Housing unaffordability
- Rising youth unemployment
- Low/declining productivity
- Aging population
- Technology replacing human labour
- Immigration trend
- Global warming and the increasingly intense natural disaster
- Monetary policy rate changes
- Automation (robots and AI) of production
Scenario: As the Minister in the chosen country responsible for the chosen policy issue, the student is required to explain to the public what caused the issue and how they prepare to resolve it in the next N years, where N depends on the issue and is decided by the student.
Part A (15%)
A1. Presentation of Infographic draft (10%):
Students create an infographic to
- explain the issue using data from the past 5-10 years.
- provide the key points of two (2) proposed policy solutions.
● The infographic is supposed to contain mostly graphs, diagrams and tables
● Words, excluding those as part of the graphs, diagrams and tables, are limited to, e.g., 150 in total.
● Graphs, diagrams and tables are used to present non-word contents. The explanation is mostly verbal.
● Each group will do a 3-to-4-minute presentation of their infographic draft in an allocated time slot during tutorials in weeks 6-8* (before the semester break).
● Only one person per group submits the presentation file 24 hours prior to the time of your presentation schedule. For example, if you are scheduled to present on Mon 7 Apr, 5-7pm, then the presentation file is due on Sun 6 Apr, 5pm. Failure to do so attracts a penalty.
● The presentation file does not have any marks. However, you will receive a late penalty if it is not submitted on time.
● All students in the same group must enrol into the same sign-on tutorial. If you require a tutorial change, please send a request to economics@uq.edu.au including “ECON7001” in the subject line.
A2. Q&A (5%): Tutors will provide feedback and ask questions following a presentation (~4 minutes). Students must respond to the questions appropriately to receive marks. The questions may be based on
(i) the course contents from weeks 1-4 applicable to your presentation topic and
(ii) the contents and materials you present.
● The feedback and Q&A will be used for Part B.
The detail instruction will be provided on Blackboard > Assessment > Group/ Individual Infographic Presentation (Part A)
As per the assessment procedure (86), the live oral or practical assessment items including the live presentation need to be recorded and retained for re-mark purposes.
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
(I) In-Person Presentation during the allocated tutorial session (~3 to 4 minutes/ group) in week 6-8
(II) The Presentation File Submission via Blackboard by 28 Mar, 5pm.
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.
- The presentation file submission can be extended up to the maximum of 7 calendar days.
- The in-person presentation can be extended up to the next available presentation spot.
Late submission
You will receive a mark of 0 if this assessment is submitted late.
(I) Any student who does not turn up for the presentation during the allocated timeslot receive a late penalty of 100% maximum mark for this assessment.
(II) Any late presentation file submission attracts a late penalty of 10% of maximum mark per each 24-hour block.
Policy Brief + Infographic (Part B)
- Team or group-based
- Mode
- Written
- Category
- Paper/ Report/ Annotation, Participation/ Student contribution
- Weight
- 40%
- Due date
26/05/2025 1:00 pm
B1 is submitted via Turnitin and B2 is submitted via Bb by the due date and time.
- Learning outcomes
- L01, L02, L03, L04, L05
Task description
B.1 The Policy Brief (~1150 words, 40%)
The Policy Brief has the following sections (all in one document in the pdf format):
- Cover page (page 1)
- Responses to the tutor’s feedback from the Presentation and Q&A session (~150-200 words, page 2 onwards, 10%)
- Discuss any major changes to the chosen data pattern in recent years and explain the factors driving these changes. Propose two policy solutions. Explain the cause of the policy issue, any related background (~400 words,10%).
- Policy Critics: which policy solution is preferable and explain why, i.e., discuss any unintended consequences, and any related considerations, external factors that may affect the effectiveness of the solutions (~400 words,10%)
- *The final infographic poster (~150 words, last page, 10%)
*The infographic poster (B.1.5) should contain the followings
- The latest statistical data of 5-10 years of the chosen country. These macroeconomic data may include but are not limited to, GDP, GDP growth, Unemployment Rates, Inflation Rates, etc.
- Major changes to the chosen data pattern in recent years and the factors driving these changes.
- Provide the key points of two possible policy solutions.
B.2 The Data File in the Excel Format
Only one Excel file (B.2) is submitted via the Blackboard.
- All the data sets directly or indirectly applied to write up B.1 must be included. Refer to the Penalty Rates table for more details.
- If there are more than 1 data set, each data set must be added in a separate sheet tab within the same Excel file. Submit only ONE (1) Excel file.
- Sources (or references) of each data set must be cited in both B.1 and B.2 submissions.
If more than one student submits the file, the group receives zero marks for part B.
The detail instruction will be provided on Blackboard > Assessment > Policy Briefing (Part B).
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
B1 is to be submitted electronically via Turnitin on Blackboard by the deadline date and time.
B2 is to be submitted electronically via Blackboard Submission link 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.
Extensions are limited to 7 calendar 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.
Refer to the instruction on Blackboard for the Late Submission Penalty Information if either B1 or B2 is submitted late.
Final Exam
- In-person
- Mode
- Written
- Category
- Examination
- Weight
- 35%
- Due date
End of Semester Exam Period
7/06/2025 - 21/06/2025
- Learning outcomes
- L01, L02, L03, L04, L05
Exam details
| Planning time | 10 minutes |
|---|---|
| Duration | 120 minutes |
| Calculator options | (In person) Casio FX82 series only or UQ approved and labelled calculator |
| Open/closed book | Closed Book examination - no written materials permitted |
| Materials | Unwritten dictionary |
| Exam platform | Other |
| 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
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 and Procedures. Please refer to the Academic Integrity Modules (AIM). It is strongly recommended that you complete the AIM if 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.
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 (24 Feb - 02 Mar) |
Lecture |
Topic 1 - GDP (online) Learning outcomes: L01, L02, L03, L04, L05 |
Lecture |
GDP In-person lecture Learning outcomes: L01, L02, L03, L04, L05 |
|
Tutorial |
GDP Learning outcomes: L01, L02, L03, L04, L05 |
|
Week 2 (03 Mar - 09 Mar) |
Lecture |
Topic 2: Economic Growth (online) Learning outcomes: L01, L02, L03, L04, L05 |
Lecture |
Economic Growth In-person lecture Learning outcomes: L01, L02, L03, L04, L05 |
|
Tutorial |
Economic Growth Learning outcomes: L01, L02, L03, L04, L05 |
|
Week 3 (10 Mar - 16 Mar) |
Lecture |
Topic 3 - Unemployment (online) Learning outcomes: L01, L02, L03, L04, L05 |
Lecture |
Unemployment In-person lecture Learning outcomes: L01, L02, L03, L04, L05 |
|
Tutorial |
Unemployment Learning outcomes: L01, L02, L03, L04, L05 |
|
Week 4 (17 Mar - 23 Mar) |
Lecture |
Topic 4 - Inflation (online) Learning outcomes: L01, L02, L03, L04, L05 |
Lecture |
Inflation In-person lecture Learning outcomes: L01, L02, L03, L04, L05 |
|
Tutorial |
Inflation Learning outcomes: L01, L02, L03, L04, L05 |
|
Week 5 (24 Mar - 30 Mar) |
Lecture |
Topic 5 - Aggregate Demand-Supply (online) Learning outcomes: L01, L02, L03, L04, L05 |
Lecture |
Aggregate Demand and Aggregate Supply In-person lecture Learning outcomes: L01, L02, L03, L04, L05 |
|
Tutorial |
Aggregate Demand-Supply Learning outcomes: L01, L02, L03, L04, L05 |
|
Week 6 (31 Mar - 06 Apr) |
Tutorial |
Presentation ONLY Learning outcomes: L01, L02, L03, L04, L05 |
Lecture |
No in-person lecture this week No in-person lecture |
|
Lecture |
No on-line lecture this week |
|
Week 7 (07 Apr - 13 Apr) |
Lecture |
No on-line lecture this week |
Tutorial |
Presentation ONLY Learning outcomes: L01, L02, L03, L04, L05 |
|
Lecture |
No in-person lecture this week No in-person lecture this week |
|
Week 8 (14 Apr - 20 Apr) |
Tutorial |
Presentation ONLY Please note that 18 April is a public holiday (Good Friday) - no presentations. Learning outcomes: L01, L02, L03, L04, L05 |
Lecture |
No in-person lecture this week |
|
Lecture |
No online lecture this week |
|
Mid-sem break (21 Apr - 27 Apr) |
Tutorial |
No tutorial this week (Mid-Semester Break) (No tutorial this week) |
Lecture |
No in-person this week (Mid-Semester Break) There will be no lecture this week. |
|
Week 9 (28 Apr - 04 May) |
Lecture |
Topic 6 - Fiscal Policy (online) Learning outcomes: L01, L02, L03, L04, L05 |
Lecture |
Fiscal Policy In-person lecture Learning outcomes: L01, L02, L03, L04, L05 |
|
Tutorial |
Fiscal Policy Learning outcomes: L01, L02, L03, L04, L05 |
|
Week 10 (05 May - 11 May) |
Lecture |
Topic 7 - Money and Banking (online) Learning outcomes: L01, L02, L03, L04, L05 |
Lecture |
Money and Banking In-person lecture Learning outcomes: L01, L02, L03, L04, L05 |
|
Tutorial |
Money and Banking Note: Monday 5 May is a Public holiday, therefore no classes will be held on this day. Students signed onto a Monday tutorial class are invited to attend an alternative class for this week only. Learning outcomes: L01, L02, L03, L04, L05 |
|
Week 11 (12 May - 18 May) |
Lecture |
Topic 8 - Monetary Policy (online) Learning outcomes: L01, L02, L03, L04, L05 |
Lecture |
Monetary Policy In-person lecture Learning outcomes: L01, L02, L03, L04, L05 |
|
Tutorial |
Monetary Policy Learning outcomes: L01, L02, L03, L04, L05 |
|
Week 12 (19 May - 25 May) |
Lecture |
Topic 9 - Open Macroeconomy (online) Learning outcomes: L01, L02, L03, L04, L05 |
Lecture |
Open Macroeconomy In-person lecture Learning outcomes: L01, L02, L03, L04, L05 |
|
Tutorial |
Open Macroeconomy Learning outcomes: L01, L02, L03, L04, L05 |
|
Week 13 (26 May - 01 Jun) |
Lecture |
Topic 10 - International Finance (online) Learning outcomes: L01, L02, L03, L04, L05 |
Lecture |
International Finance In-person lecture Learning outcomes: L01, L02, L03, L04, L05 |
|
Tutorial |
International Finance Learning outcomes: L01, L02, L03, L04, 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.