EFB229 Macroeconomics
To view more information for this unit, select Unit Outline from the list below. Please note the teaching period for which the Unit Outline is relevant.
| Unit code: | EFB229 |
|---|---|
| Prerequisite(s): | 24 credit points of completed study |
| Equivalent(s): | EFB330, EFX330 |
| Credit points: | 12 |
| Timetable | Details in HiQ, if available |
| Availabilities |
|
| CSP student contribution | $2,040 |
| Pre-2021 CSP student contribution | $1,597 The pre-2021 commonwealth supported place (CSP) contribution amount only applies to students enrolled in a course prior to 2021. To learn more, visit our Understanding your fees page. |
| Domestic tuition unit fee | $3,024 |
| International unit fee | $4,176 |
Unit Outline: Semester 1 2024, Gardens Point, Internal
| Unit code: | EFB229 |
|---|---|
| Credit points: | 12 |
| Pre-requisite: | 24 credit points of completed study |
| Equivalent: | EFB330, EFX330 |
| Coordinators: | Pedro Gomis-Porqueras | pedro.gomisporqueras@qut.edu.au |
Overview
Macroeconomics is one of the key fields in economics. It is a study of economic aggregates, such as GDP, inflation and unemployment rates, economic growth and income distribution, etc. A major focus of macroeconomics is on economic policies that affect these aggregate measures. The unit goes beyond the basic overview of the workings of the economy and provides an in-depth analysis of fundamental macroeconomic ideas. It also develops the capabilities and skills to equip you with a deeper understanding of the macroeconomic policies and their applications in the real world.
Learning Outcomes
On successful completion of this unit you will be able to:
- Apply knowledge of fundamental macroeconomic theories and ideas to analyse real world economic issues
- Critically analyse and evaluate the effects and limitations of government policies, with consideration for socially responsible behaviour, on the aggregate economy
- Critically analyse and evaluate the effects and limitations of monetary policies on the aggregate economy Relates to: UG Business Capabilities: HO (2.1)
- Apply written communication skills to diverse contextsRelates to: UG Business Capabilities: PC (3.1)
Content
Measuring the health of an economy: GDP
Functioning of the goods market
Functioning of the money markets
Understanding the short-run economic fluctuations
Theory of unemployment
Inflation and its relationship with unemployment
Contemporary issues in monetary and fiscal policies
Economic growth
Income distribution
Learning Approaches
The content of this unit is delivered via a lecture (two hours per week), a tutorial program (one hour per week), and the prescribed textbook. Resources such as additional study material, weekly assignments and the solutions to the assignments are provided on the unit's Canvas site. Students will need their student number and password to access the Canvas site. Students are required to check the Canvas site regularly for new announcements and materials.
Students are expected to study the relevant material (textbook and other supplementary materials), complete the assignment provided before attending the lecture/workshop/tutorial, so that effective use can be made of the time allocated to solve difficulties and discuss further issues. It is not the purpose of the tutorial to work through each question from scratch, but rather to resolve any problems or difficulties that arise from the week's work. Students are encouraged to take advantage of the digital interactive learning platform (MyLabs) that comes with purchase of the textbook.
The assignments form an important part of the work in this unit and are a good indicator of possible examination questions. Historically, students who do not keep up with weekly tutorial work have a low pass rate.
In accordance with QUT policy, all units are to be subject to Criterion Referenced Assessment (CRA). The Unit Coordinator will provide students with further details regarding CRA during the course of the semester during class and on the unit's Canvas site.
Feedback on Learning and Assessment
Students will receive feedback in various forms throughout the semester, which may include:
- Informal: worked examples, such as verbal feedback in class, personal consultation
- Formal: in writing, such as checklists (e.g. criteria sheets), written commentary
- Direct: to individual students, either in written form or in consultation
- Indirect: to whole class
Assessment
Unit Grading Scheme
7- point scale
Assessment Tasks
Assessment: Mid-term quiz
You will complete a short online quiz that assesses your knowledge and application of macroecomonic concepts and theories.
Assessment: Macro Report
Taking on the role of an economist, you will research macroeconomic topics or events of national/international importance, analyse real world data, and prepare a report for a think tank of advisers to the government and central bank that communicates your analysis and considerations of social implications.
This assignment is eligible for the 48-hour late submission period and assignment extensions.
Assessment: End of Semester Exam
The closed book, end of semester exam will assess your application of macroeconomic concepts and theories and analysis and evaluation of real world economic issues.
Academic Integrity
Students are expected to engage in learning and assessment at QUT with honesty, transparency and fairness. Maintaining academic integrity means upholding these principles and demonstrating valuable professional capabilities based on ethical foundations.
Failure to maintain academic integrity can take many forms. It includes cheating in examinations, plagiarism, self-plagiarism, collusion, and submitting an assessment item completed by another person (e.g. contract cheating). It can also include providing your assessment to another entity, such as to a person or website.
You are encouraged to make use of QUT’s learning support services, resources and tools to assure the academic integrity of your assessment. This includes the use of text matching software that may be available to assist with self-assessing your academic integrity as part of the assessment submission process.
Further details of QUT’s approach to academic integrity are outlined in the Academic integrity policy and the Student Code of Conduct. Breaching QUT’s Academic integrity policy is regarded as student misconduct and can lead to the imposition of penalties ranging from a grade reduction to exclusion from QUT.
Requirements to Study
Requirements
No additional requirements.
Costs
No additional costs.
Resources
The resources for this unit include a prescribed text and additional resources added to the unit's Canvas site.
Resource Materials
Prescribed text(s)
Macroeconomics (Global edition), by D. Acemoglu, D. Leibson and J. List
Other
Students are expected to read the additional weekly resources provided on the unit's Canvas site.
Risk Assessment Statement
There are no out-of-the-ordinary risks associated with lectures or tutorials in this unit.
You should, however, familiarise yourself with evacuation procedures operating in the buildings in which you attend classes and take the time to view the Emergency video.
Standards/Competencies
This unit is designed to support your development of the following standards\competencies.
QUT Business Capabilities (Undergraduate)
HO (2.1): Critical Analysis
Relates to: ULO1, ULO2, ULO3, Macro Report , End of Semester Exam
KS (1.1): Discipline Knowledge
Relates to: ULO1, Mid-term quiz, End of Semester Exam
PC (3.1): Professional Communication (Written)
Relates to: ULO4, Macro Report
SE (5.2): Global Social Responsibility
Relates to: ULO2, Macro Report
Course Learning Outcomes
This unit is designed to support your development of the following course/study area learning outcomes.BS05 Bachelor of Business
- Demonstrate and apply integrated discipline (including technical) knowledge across the broad field of business with depth in one or more core business disciplines.
Relates to: ULO1, Mid-term quiz, End of Semester Exam - Demonstrate and apply knowledge of socially responsible behaviour in analysing and addressing business issues in national and international business contexts.
Relates to: ULO2, Macro Report - Investigate real world business issues and situations through the effective analysis, evaluation and synthesis of theory and practice.
Relates to: ULO1, ULO2, ULO3, Macro Report , End of Semester Exam - Use information literacy skills, and communicate effectively and professionally in written forms and using media appropriate for diverse purposes and contexts.
Relates to: ULO4, Macro Report
BS06 Bachelor of Business
- Demonstrate and apply integrated discipline (including technical) knowledge across the broad field of business with depth in one or more core business disciplines.
Relates to: ULO1, Mid-term quiz, End of Semester Exam - Demonstrate and apply knowledge of socially responsible behaviour in analysing and addressing business issues in national and international business contexts.
Relates to: ULO2, Macro Report - Investigate real world business issues and situations through the effective analysis, evaluation and synthesis of theory and practice.
Relates to: ULO1, ULO2, ULO3, Macro Report , End of Semester Exam - Use information literacy skills, and communicate effectively and professionally in written forms and using media appropriate for diverse purposes and contexts.
Relates to: ULO4, Macro Report
BS08 Bachelor of Business - International
- Demonstrate and apply integrated discipline (including technical) knowledge across the broad field of business with depth in one or more core business disciplines.
Relates to: ULO1, Mid-term quiz, End of Semester Exam - Demonstrate and apply knowledge of socially responsible behaviour in analysing and addressing business issues in national and international business contexts.
Relates to: ULO2, Macro Report - Investigate real world business issues and situations through the effective analysis, evaluation and synthesis of theory and practice.
Relates to: ULO1, ULO2, ULO3, Macro Report , End of Semester Exam - Use information literacy skills, and communicate effectively and professionally in written forms and using media appropriate for diverse purposes and contexts.
Relates to: ULO4, Macro Report
Unit Outline: Semester 1 2024, Online
| Unit code: | EFB229 |
|---|---|
| Credit points: | 12 |
| Pre-requisite: | 24 credit points of completed study |
| Equivalent: | EFB330, EFX330 |
Overview
Macroeconomics is one of the key fields in economics. It is a study of economic aggregates, such as GDP, inflation and unemployment rates, economic growth and income distribution, etc. A major focus of macroeconomics is on economic policies that affect these aggregate measures. The unit goes beyond the basic overview of the workings of the economy and provides an in-depth analysis of fundamental macroeconomic ideas. It also develops the capabilities and skills to equip you with a deeper understanding of the macroeconomic policies and their applications in the real world.
Learning Outcomes
On successful completion of this unit you will be able to:
- Apply knowledge of fundamental macroeconomic theories and ideas to analyse real world economic issues
- Critically analyse and evaluate the effects and limitations of government policies, with consideration for socially responsible behaviour, on the aggregate economy
- Critically analyse and evaluate the effects and limitations of monetary policies on the aggregate economy Relates to: UG Business Capabilities: HO (2.1)
- Apply written communication skills to diverse contextsRelates to: UG Business Capabilities: PC (3.1)
Content
Measuring the health of an economy: GDP
Functioning of the goods market
Functioning of the money markets
Understanding the short-run economic fluctuations
Theory of unemployment
Inflation and its relationship with unemployment
Contemporary issues in monetary and fiscal policies
Economic growth
Income distribution
Learning Approaches
The content of this unit is delivered via a lecture (two hours per week), a tutorial program (one hour per week), and the prescribed textbook. Resources such as additional study material, weekly assignments and the solutions to the assignments are provided on the unit's Canvas site. Students will need their student number and password to access the Canvas site. Students are required to check the Canvas site regularly for new announcements and materials.
Students are expected to study the relevant material (textbook and other supplementary materials), complete the assignment provided before attending the lecture/workshop/tutorial, so that effective use can be made of the time allocated to solve difficulties and discuss further issues. It is not the purpose of the tutorial to work through each question from scratch, but rather to resolve any problems or difficulties that arise from the week's work. Students are encouraged to take advantage of the digital interactive learning platform (MyLabs) that comes with purchase of the textbook.
The assignments form an important part of the work in this unit and are a good indicator of possible examination questions. Historically, students who do not keep up with weekly tutorial work have a low pass rate.
In accordance with QUT policy, all units are to be subject to Criterion Referenced Assessment (CRA). The Unit Coordinator will provide students with further details regarding CRA during the course of the semester during class and on the unit's Canvas site.
Feedback on Learning and Assessment
Students will receive feedback in various forms throughout the semester, which may include:
- Informal: worked examples, such as verbal feedback in class, personal consultation
- Formal: in writing, such as checklists (e.g. criteria sheets), written commentary
- Direct: to individual students, either in written form or in consultation
- Indirect: to whole class
Assessment
Unit Grading Scheme
7- point scale
Assessment Tasks
Assessment: Mid-term quiz
You will complete a short online quiz that assesses your knowledge and application of macroecomonic concepts and theories.
Assessment: Macro Report
Taking on the role of an economist, you will research macroeconomic topics or events of national/international importance, analyse real world data, and prepare a report for a think tank of advisers to the government and central bank that communicates your analysis and considerations of social implications.
This assignment is eligible for the 48-hour late submission period and assignment extensions.
Assessment: End of Semester Exam
The closed book, end of semester exam will assess your application of macroeconomic concepts and theories and analysis and evaluation of real world economic issues.
Academic Integrity
Students are expected to engage in learning and assessment at QUT with honesty, transparency and fairness. Maintaining academic integrity means upholding these principles and demonstrating valuable professional capabilities based on ethical foundations.
Failure to maintain academic integrity can take many forms. It includes cheating in examinations, plagiarism, self-plagiarism, collusion, and submitting an assessment item completed by another person (e.g. contract cheating). It can also include providing your assessment to another entity, such as to a person or website.
You are encouraged to make use of QUT’s learning support services, resources and tools to assure the academic integrity of your assessment. This includes the use of text matching software that may be available to assist with self-assessing your academic integrity as part of the assessment submission process.
Further details of QUT’s approach to academic integrity are outlined in the Academic integrity policy and the Student Code of Conduct. Breaching QUT’s Academic integrity policy is regarded as student misconduct and can lead to the imposition of penalties ranging from a grade reduction to exclusion from QUT.
Requirements to Study
Requirements
No additional requirements.
Costs
No additional costs.
Resources
The resources for this unit include a prescribed text and additional resources added to the unit's Canvas site.
Resource Materials
Prescribed text(s)
Macroeconomics (Global edition), by D. Acemoglu, D. Leibson and J. List
Other
Students are expected to read the additional weekly resources provided on the unit's Canvas site.
Risk Assessment Statement
There are no out-of-the-ordinary risks associated with lectures or tutorials in this unit.
You should, however, familiarise yourself with evacuation procedures operating in the buildings in which you attend classes and take the time to view the Emergency video.
Standards/Competencies
This unit is designed to support your development of the following standards\competencies.
QUT Business Capabilities (Undergraduate)
HO (2.1): Critical Analysis
Relates to: ULO1, ULO2, ULO3, Macro Report , End of Semester Exam
KS (1.1): Discipline Knowledge
Relates to: ULO1, Mid-term quiz, End of Semester Exam
PC (3.1): Professional Communication (Written)
Relates to: ULO4, Macro Report
SE (5.2): Global Social Responsibility
Relates to: ULO2, Macro Report
Course Learning Outcomes
This unit is designed to support your development of the following course/study area learning outcomes.BS05 Bachelor of Business
- Demonstrate and apply integrated discipline (including technical) knowledge across the broad field of business with depth in one or more core business disciplines.
Relates to: ULO1, Mid-term quiz, End of Semester Exam - Demonstrate and apply knowledge of socially responsible behaviour in analysing and addressing business issues in national and international business contexts.
Relates to: ULO2, Macro Report - Investigate real world business issues and situations through the effective analysis, evaluation and synthesis of theory and practice.
Relates to: ULO1, ULO2, ULO3, Macro Report , End of Semester Exam - Use information literacy skills, and communicate effectively and professionally in written forms and using media appropriate for diverse purposes and contexts.
Relates to: ULO4, Macro Report
BS06 Bachelor of Business
- Demonstrate and apply integrated discipline (including technical) knowledge across the broad field of business with depth in one or more core business disciplines.
Relates to: ULO1, Mid-term quiz, End of Semester Exam - Demonstrate and apply knowledge of socially responsible behaviour in analysing and addressing business issues in national and international business contexts.
Relates to: ULO2, Macro Report - Investigate real world business issues and situations through the effective analysis, evaluation and synthesis of theory and practice.
Relates to: ULO1, ULO2, ULO3, Macro Report , End of Semester Exam - Use information literacy skills, and communicate effectively and professionally in written forms and using media appropriate for diverse purposes and contexts.
Relates to: ULO4, Macro Report
BS08 Bachelor of Business - International
- Demonstrate and apply integrated discipline (including technical) knowledge across the broad field of business with depth in one or more core business disciplines.
Relates to: ULO1, Mid-term quiz, End of Semester Exam - Demonstrate and apply knowledge of socially responsible behaviour in analysing and addressing business issues in national and international business contexts.
Relates to: ULO2, Macro Report - Investigate real world business issues and situations through the effective analysis, evaluation and synthesis of theory and practice.
Relates to: ULO1, ULO2, ULO3, Macro Report , End of Semester Exam - Use information literacy skills, and communicate effectively and professionally in written forms and using media appropriate for diverse purposes and contexts.
Relates to: ULO4, Macro Report
Unit Outline: Semester 2 2024, Gardens Point, Internal
| Unit code: | EFB229 |
|---|---|
| Credit points: | 12 |
| Pre-requisite: | 24 credit points of completed study |
| Equivalent: | EFB330, EFX330 |
| Coordinators: | Zainab Asif | zainab.asif@qut.edu.au |
Overview
Macroeconomics is one of the key fields in economics. It is a study of economic aggregates, such as GDP, inflation and unemployment rates, economic growth and income distribution, etc. A major focus of macroeconomics is on economic policies that affect these aggregate measures. The unit goes beyond the basic overview of the workings of the economy and provides an in-depth analysis of fundamental macroeconomic ideas. It also develops the capabilities and skills to equip you with a deeper understanding of the macroeconomic policies and their applications in the real world.
Learning Outcomes
On successful completion of this unit you will be able to:
- Apply knowledge of fundamental macroeconomic theories and ideas to analyse real world economic issues. [KS 1.1, HO 2.1]
- Critically analyse and evaluate the effects and limitations of government policies, with consideration for socially responsible behaviour, on the aggregate economy. [HO 2.1, SE 5.2]
- Critically analyse and evaluate the effects and limitations of monetary policies on the aggregate economy. [HO 2.1]Relates to: UG Business Capabilities: HO (2.1)
- Apply written communication skills to diverse contexts. [PC 3.1]Relates to: UG Business Capabilities: PC (3.1)
Content
The unit is designed to develop critical thinking and understanding of macroeconomic concepts. The list of topics includes:
- Measuring the health of an economy: GDP
- Functioning of the goods market
- Functioning of the money markets
- Understanding the short-run economic fluctuations
- Theory of unemployment
- Inflation and its relationship with unemployment
- Contemporary issues in monetary and fiscal policies
- Economic growth
- Income distribution
QUT Business Capabilities (Undergraduate)
The content and assessment in this unit are aligned to a selection of the following set of QUT Business Capabilities, also known as Assurance of Learning Goals (AoLs). Developing these capabilities will assist you to meet the desired graduate outcomes set at QUT and equip you with the knowledge and skills to succeed in your chosen career.
Knowledge and Technological Skills (KS)
1.1 Demonstrate and apply integrated discipline (including technical) knowledge across the broad field of business with depth in one or more core business disciplines.
1.2 Apply technical and technological skills appropriate and effective for real world business purposes and contexts.
Higher Order Thinking (HO)
2.1 Investigate real world business issues and situations through the effective analysis, evaluation and synthesis of theory and practice.
2.2 Exercise independent judgement and initiative in adapting and applying knowledge and skills for effective planning, problem solving and decision making in diverse contexts.
Professional Communication (PC)
3.1 Use information literacy skills, and communicate effectively and professionally in written forms and using media appropriate for diverse purposes and contexts.
3.2 Use information literacy skills, and communicate effectively and professionally in oral forms, appropriate for diverse purposes and contexts.
Teamwork and Self (TS)
4.1 Exercise self-reflection, responsibility and accountability in relation to own learning and professional practice.
4.2 Apply teamwork knowledge and skills for effective collaboration across diverse purposes and contexts.
Social, Ethical and Global Understanding (SE)
5.1 Demonstrate and apply knowledge of ethical and legal principles and practices in analysing and responding to business issues.
5.2 Demonstrate and apply knowledge of socially responsible behaviour in analysing and addressing business issues in national and international business contexts.
Learning Approaches
The content of this unit is delivered via a lecture (two hours per week), a tutorial program (one hour per week), and the prescribed textbook. Resources such as additional study material, weekly assignments and the solutions to the assignments are provided on the unit's Canvas site.
Students are expected to study the relevant material (textbook and other supplementary materials), complete the assignment provided before attending the lecture/workshop/tutorial, so that effective use can be made of the time allocated to solve difficulties and discuss further issues. It is not the purpose of the tutorial to work through each question from scratch, but rather to resolve any problems or difficulties that arise from the week's work.
Feedback on Learning and Assessment
Students will receive feedback in various forms throughout the semester, which may include:
- Informal: worked examples, such as verbal feedback in class, personal consultation
- Formal: in writing, such as checklists (e.g. criteria sheets), written commentary
- Direct: to individual students, either in written form or in consultation
- Indirect: to whole class
Assessment
Overview
The assessment in this unit aims to support your achievement of the unit learning outcomes and course assurance of learning goals. The assessment has been designed in order to allow you to:
- receive feedback on your learning as you progress toward the development of knowledge, understanding, skills and attitudes (formative assessment); and
- demonstrate your learning in order to achieve a final grade (summative assessment).
Students may be required to attend campus or an assessment centre for the purposes of assessment, regardless of the attendance mode for the unit.
Unit Grading Scheme
7- point scale
Assessment Tasks
Assessment: Mid Semester Quiz
You will complete a short online quiz that assesses your knowledge and application of macroecomonic concepts and theories.
Formative or Summative: Formative and Summative
Business Capabilities (AoL goals): KS (1.1)
Assessment: Macro Report
Taking on the role of an economist, you will research macroeconomic topics or events of national/international importance, analyse real world data, and prepare a report for a think tank of advisers to the government and central bank that communicates your analysis and considerations of social implications.
Formative or Summative: Formative and Summative
Business Capabilities (AoL goals): HO (2.1), PC (3.1), SE (5.2)
This assignment is eligible for the 48-hour late submission period and assignment extensions.
Assessment: End of Semester Exam
The closed book, end of semester exam will assess your application of macroeconomic concepts and theories and analysis and evaluation of real world economic issues.
Formative or Summative: Summative
Business Capabilities (AoL goals): KS (1.1), HO (2.1)
Academic Integrity
Students are expected to engage in learning and assessment at QUT with honesty, transparency and fairness. Maintaining academic integrity means upholding these principles and demonstrating valuable professional capabilities based on ethical foundations.
Failure to maintain academic integrity can take many forms. It includes cheating in examinations, plagiarism, self-plagiarism, collusion, and submitting an assessment item completed by another person (e.g. contract cheating). It can also include providing your assessment to another entity, such as to a person or website.
You are encouraged to make use of QUT’s learning support services, resources and tools to assure the academic integrity of your assessment. This includes the use of text matching software that may be available to assist with self-assessing your academic integrity as part of the assessment submission process.
Further details of QUT’s approach to academic integrity are outlined in the Academic integrity policy and the Student Code of Conduct. Breaching QUT’s Academic integrity policy is regarded as student misconduct and can lead to the imposition of penalties ranging from a grade reduction to exclusion from QUT.
Requirements to Study
Requirements
No additional requirements.
Costs
No additional costs.
Resources
The resources for this unit include a prescribed text and additional resources added to the unit's Canvas site.
Resource Materials
Prescribed text(s)
Macroeconomics (Global edition), by D. Acemoglu, D. Leibson and J. List
Other
Students are expected to read the additional weekly resources provided on the unit's Canvas site.
Risk Assessment Statement
There are no out-of-the-ordinary risks associated with lectures or tutorials in this unit.
Standards/Competencies
This unit is designed to support your development of the following standards\competencies.
QUT Business Capabilities (Undergraduate)
HO (2.1): Critical Analysis
Relates to: ULO1, ULO2, ULO3, Macro Report , End of Semester Exam
KS (1.1): Discipline Knowledge
Relates to: ULO1, Mid Semester Quiz, End of Semester Exam
PC (3.1): Professional Communication (Written)
Relates to: ULO4, Macro Report
SE (5.2): Global Social Responsibility
Relates to: ULO2, Macro Report
Course Learning Outcomes
This unit is designed to support your development of the following course/study area learning outcomes.BS05 Bachelor of Business
- Demonstrate and apply integrated discipline (including technical) knowledge across the broad field of business with depth in one or more core business disciplines.
Relates to: ULO1, Mid Semester Quiz, End of Semester Exam - Demonstrate and apply knowledge of socially responsible behaviour in analysing and addressing business issues in national and international business contexts.
Relates to: ULO2, Macro Report - Investigate real world business issues and situations through the effective analysis, evaluation and synthesis of theory and practice.
Relates to: ULO1, ULO2, ULO3, Macro Report , End of Semester Exam - Use information literacy skills, and communicate effectively and professionally in written forms and using media appropriate for diverse purposes and contexts.
Relates to: ULO4, Macro Report
BS06 Bachelor of Business
- Demonstrate and apply integrated discipline (including technical) knowledge across the broad field of business with depth in one or more core business disciplines.
Relates to: ULO1, Mid Semester Quiz, End of Semester Exam - Demonstrate and apply knowledge of socially responsible behaviour in analysing and addressing business issues in national and international business contexts.
Relates to: ULO2, Macro Report - Investigate real world business issues and situations through the effective analysis, evaluation and synthesis of theory and practice.
Relates to: ULO1, ULO2, ULO3, Macro Report , End of Semester Exam - Use information literacy skills, and communicate effectively and professionally in written forms and using media appropriate for diverse purposes and contexts.
Relates to: ULO4, Macro Report
BS08 Bachelor of Business - International
- Demonstrate and apply integrated discipline (including technical) knowledge across the broad field of business with depth in one or more core business disciplines.
Relates to: ULO1, Mid Semester Quiz, End of Semester Exam - Demonstrate and apply knowledge of socially responsible behaviour in analysing and addressing business issues in national and international business contexts.
Relates to: ULO2, Macro Report - Investigate real world business issues and situations through the effective analysis, evaluation and synthesis of theory and practice.
Relates to: ULO1, ULO2, ULO3, Macro Report , End of Semester Exam - Use information literacy skills, and communicate effectively and professionally in written forms and using media appropriate for diverse purposes and contexts.
Relates to: ULO4, Macro Report
Unit Outline: Semester 2 2024, Online
| Unit code: | EFB229 |
|---|---|
| Credit points: | 12 |
| Pre-requisite: | 24 credit points of completed study |
| Equivalent: | EFB330, EFX330 |
Overview
Macroeconomics is one of the key fields in economics. It is a study of economic aggregates, such as GDP, inflation and unemployment rates, economic growth and income distribution, etc. A major focus of macroeconomics is on economic policies that affect these aggregate measures. The unit goes beyond the basic overview of the workings of the economy and provides an in-depth analysis of fundamental macroeconomic ideas. It also develops the capabilities and skills to equip you with a deeper understanding of the macroeconomic policies and their applications in the real world.
Learning Outcomes
On successful completion of this unit you will be able to:
- Apply knowledge of fundamental macroeconomic theories and ideas to analyse real world economic issues. [KS 1.1, HO 2.1]
- Critically analyse and evaluate the effects and limitations of government policies, with consideration for socially responsible behaviour, on the aggregate economy. [HO 2.1, SE 5.2]
- Critically analyse and evaluate the effects and limitations of monetary policies on the aggregate economy. [HO 2.1]Relates to: UG Business Capabilities: HO (2.1)
- Apply written communication skills to diverse contexts. [PC 3.1]Relates to: UG Business Capabilities: PC (3.1)
Content
The unit is designed to develop critical thinking and understanding of macroeconomic concepts. The list of topics includes:
- Measuring the health of an economy: GDP
- Functioning of the goods market
- Functioning of the money markets
- Understanding the short-run economic fluctuations
- Theory of unemployment
- Inflation and its relationship with unemployment
- Contemporary issues in monetary and fiscal policies
- Economic growth
- Income distribution
QUT Business Capabilities (Undergraduate)
The content and assessment in this unit are aligned to a selection of the following set of QUT Business Capabilities, also known as Assurance of Learning Goals (AoLs). Developing these capabilities will assist you to meet the desired graduate outcomes set at QUT and equip you with the knowledge and skills to succeed in your chosen career.
Knowledge and Technological Skills (KS)
1.1 Demonstrate and apply integrated discipline (including technical) knowledge across the broad field of business with depth in one or more core business disciplines.
1.2 Apply technical and technological skills appropriate and effective for real world business purposes and contexts.
Higher Order Thinking (HO)
2.1 Investigate real world business issues and situations through the effective analysis, evaluation and synthesis of theory and practice.
2.2 Exercise independent judgement and initiative in adapting and applying knowledge and skills for effective planning, problem solving and decision making in diverse contexts.
Professional Communication (PC)
3.1 Use information literacy skills, and communicate effectively and professionally in written forms and using media appropriate for diverse purposes and contexts.
3.2 Use information literacy skills, and communicate effectively and professionally in oral forms, appropriate for diverse purposes and contexts.
Teamwork and Self (TS)
4.1 Exercise self-reflection, responsibility and accountability in relation to own learning and professional practice.
4.2 Apply teamwork knowledge and skills for effective collaboration across diverse purposes and contexts.
Social, Ethical and Global Understanding (SE)
5.1 Demonstrate and apply knowledge of ethical and legal principles and practices in analysing and responding to business issues.
5.2 Demonstrate and apply knowledge of socially responsible behaviour in analysing and addressing business issues in national and international business contexts.
Learning Approaches
The content of this unit is delivered via a lecture (two hours per week), a tutorial program (one hour per week), and the prescribed textbook. Resources such as additional study material, weekly assignments and the solutions to the assignments are provided on the unit's Canvas site.
Students are expected to study the relevant material (textbook and other supplementary materials), complete the assignment provided before attending the lecture/workshop/tutorial, so that effective use can be made of the time allocated to solve difficulties and discuss further issues. It is not the purpose of the tutorial to work through each question from scratch, but rather to resolve any problems or difficulties that arise from the week's work.
Feedback on Learning and Assessment
Students will receive feedback in various forms throughout the semester, which may include:
- Informal: worked examples, such as verbal feedback in class, personal consultation
- Formal: in writing, such as checklists (e.g. criteria sheets), written commentary
- Direct: to individual students, either in written form or in consultation
- Indirect: to whole class
Assessment
Overview
The assessment in this unit aims to support your achievement of the unit learning outcomes and course assurance of learning goals. The assessment has been designed in order to allow you to:
- receive feedback on your learning as you progress toward the development of knowledge, understanding, skills and attitudes (formative assessment); and
- demonstrate your learning in order to achieve a final grade (summative assessment).
Students may be required to attend campus or an assessment centre for the purposes of assessment, regardless of the attendance mode for the unit.
Unit Grading Scheme
7- point scale
Assessment Tasks
Assessment: Mid Semester Quiz
You will complete a short online quiz that assesses your knowledge and application of macroecomonic concepts and theories.
Formative or Summative: Formative and Summative
Business Capabilities (AoL goals): KS (1.1)
Assessment: Macro Report
Taking on the role of an economist, you will research macroeconomic topics or events of national/international importance, analyse real world data, and prepare a report for a think tank of advisers to the government and central bank that communicates your analysis and considerations of social implications.
Formative or Summative: Formative and Summative
Business Capabilities (AoL goals): HO (2.1), PC (3.1), SE (5.2)
This assignment is eligible for the 48-hour late submission period and assignment extensions.
Assessment: End of Semester Exam
The closed book, end of semester exam will assess your application of macroeconomic concepts and theories and analysis and evaluation of real world economic issues.
Formative or Summative: Summative
Business Capabilities (AoL goals): KS (1.1), HO (2.1)
Academic Integrity
Students are expected to engage in learning and assessment at QUT with honesty, transparency and fairness. Maintaining academic integrity means upholding these principles and demonstrating valuable professional capabilities based on ethical foundations.
Failure to maintain academic integrity can take many forms. It includes cheating in examinations, plagiarism, self-plagiarism, collusion, and submitting an assessment item completed by another person (e.g. contract cheating). It can also include providing your assessment to another entity, such as to a person or website.
You are encouraged to make use of QUT’s learning support services, resources and tools to assure the academic integrity of your assessment. This includes the use of text matching software that may be available to assist with self-assessing your academic integrity as part of the assessment submission process.
Further details of QUT’s approach to academic integrity are outlined in the Academic integrity policy and the Student Code of Conduct. Breaching QUT’s Academic integrity policy is regarded as student misconduct and can lead to the imposition of penalties ranging from a grade reduction to exclusion from QUT.
Requirements to Study
Requirements
No additional requirements.
Costs
No additional costs.
Resources
The resources for this unit include a prescribed text and additional resources added to the unit's Canvas site.
Resource Materials
Prescribed text(s)
Macroeconomics (Global edition), by D. Acemoglu, D. Leibson and J. List
Other
Students are expected to read the additional weekly resources provided on the unit's Canvas site.
Risk Assessment Statement
There are no out-of-the-ordinary risks associated with lectures or tutorials in this unit.
Standards/Competencies
This unit is designed to support your development of the following standards\competencies.
QUT Business Capabilities (Undergraduate)
HO (2.1): Critical Analysis
Relates to: ULO1, ULO2, ULO3, Macro Report , End of Semester Exam
KS (1.1): Discipline Knowledge
Relates to: ULO1, Mid Semester Quiz, End of Semester Exam
PC (3.1): Professional Communication (Written)
Relates to: ULO4, Macro Report
SE (5.2): Global Social Responsibility
Relates to: ULO2, Macro Report
Course Learning Outcomes
This unit is designed to support your development of the following course/study area learning outcomes.BS05 Bachelor of Business
- Demonstrate and apply integrated discipline (including technical) knowledge across the broad field of business with depth in one or more core business disciplines.
Relates to: ULO1, Mid Semester Quiz, End of Semester Exam - Demonstrate and apply knowledge of socially responsible behaviour in analysing and addressing business issues in national and international business contexts.
Relates to: ULO2, Macro Report - Investigate real world business issues and situations through the effective analysis, evaluation and synthesis of theory and practice.
Relates to: ULO1, ULO2, ULO3, Macro Report , End of Semester Exam - Use information literacy skills, and communicate effectively and professionally in written forms and using media appropriate for diverse purposes and contexts.
Relates to: ULO4, Macro Report
BS06 Bachelor of Business
- Demonstrate and apply integrated discipline (including technical) knowledge across the broad field of business with depth in one or more core business disciplines.
Relates to: ULO1, Mid Semester Quiz, End of Semester Exam - Demonstrate and apply knowledge of socially responsible behaviour in analysing and addressing business issues in national and international business contexts.
Relates to: ULO2, Macro Report - Investigate real world business issues and situations through the effective analysis, evaluation and synthesis of theory and practice.
Relates to: ULO1, ULO2, ULO3, Macro Report , End of Semester Exam - Use information literacy skills, and communicate effectively and professionally in written forms and using media appropriate for diverse purposes and contexts.
Relates to: ULO4, Macro Report
BS08 Bachelor of Business - International
- Demonstrate and apply integrated discipline (including technical) knowledge across the broad field of business with depth in one or more core business disciplines.
Relates to: ULO1, Mid Semester Quiz, End of Semester Exam - Demonstrate and apply knowledge of socially responsible behaviour in analysing and addressing business issues in national and international business contexts.
Relates to: ULO2, Macro Report - Investigate real world business issues and situations through the effective analysis, evaluation and synthesis of theory and practice.
Relates to: ULO1, ULO2, ULO3, Macro Report , End of Semester Exam - Use information literacy skills, and communicate effectively and professionally in written forms and using media appropriate for diverse purposes and contexts.
Relates to: ULO4, Macro Report