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. EFB231 for UD05 students only. |
| Equivalent(s): | EFB330, EFX330 |
| Credit points: | 12 |
| Timetable | Details in HiQ, if available |
| Availabilities |
|
Unit Outline: Semester 1 2027, Gardens Point, Internal
| Unit code: | EFB229 |
|---|---|
| Credit points: | 12 |
| Pre-requisite: | 24 credit points of completed study. EFB231 for UD05 students only. |
| 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. 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 you with 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]
- Apply written communication skills to diverse contexts. [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.
You 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).
Unit Grading Scheme
7- point scale
Assessment Tasks
Assessment: Macro Analysis Briefing
-
Conduct a macroeconomic analysis using relevant data and theory.
-
Present your findings in a clear, concise, and professional format, suitable for your manager to use when briefing a client.
-
Use graphs, tables, and visual aids to illustrate trends and relationships.
-
Provide written explanations to accompany your analysis, ensuring concepts are explained in plain language.
The ethical and responsible use of generative artificial intelligence (GenAI) tools is authorised in this assessment. See the relevant assessment details in Canvas for specific guidelines.
This assessment item requires your online attendance during the lecture time.
The late submission period does not apply, and no assignment extensions are available.
Formative or Summative: Formative and Summative
Business Capabilities (AoL goals): KS (1.1), PC (3.1)
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.
The ethical and responsible use of generative artificial intelligence (GenAI) tools is authorised in this assessment. See the relevant assessment details in Canvas for specific guidelines.
This assignment is eligible for the 48-hour late submission period and assignment extensions.
Formative or Summative: Formative and Summative
Business Capabilities (AoL goals): HO (2.1), PC (3.1), SE (5.2)
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.
The use of generative artificial intelligence (GenAI) tools is prohibited during this assessment.
This invigilated examination requires attendance on campus or at an assessment centre, regardless of your attendance mode for the unit.
This assessment item is Verified Identity Assessment. Requirements are provided on the Unit Canvas site.
Formative or Summative: Summative
Business Capabilities (AoL goals): KS (1.1), HO (2.1)
Academic Integrity
Academic integrity is a commitment to undertaking academic work and assessment in a manner that is ethical, fair, honest, respectful and accountable.
The Academic Integrity Policy sets out the range of conduct that can be a failure to maintain the standards of academic integrity. This includes, cheating in exams, plagiarism, self-plagiarism, collusion and contract cheating. It also includes providing fraudulent or altered documentation in support of an academic concession application, for example an assignment extension or a deferred exam.
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.
Breaching QUT’s Academic Integrity Policy or engaging in conduct that may defeat or compromise the purpose of assessment can lead to a finding of student misconduct (Code of Conduct – Student) and result in the imposition of penalties under the Management of Student Misconduct Policy, ranging from a grade reduction to exclusion from QUT.
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)
Acemoglu, D., Laibson, D., & List, J. (2021). Macroeconomics (3rd ed., Global ed.). Pearson.
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 teaching activities in this unit.
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 business knowledge, combining disciplinary depth and interdisciplinary insight, to address complex and evolving business challenges.
Relates to: ULO1, Macro Analysis Briefing, End of Semester Exam - Investigate complex business issues by critically analysing, evaluating, and synthesising theory and practice to generate evidence-based insights.
Relates to: ULO1, ULO2, ULO3, Macro Report , End of Semester Exam - Communicate effectively and professionally in written forms, demonstrating information literacy and the ability to craft clear, purposeful, and audience-appropriate messages using suitable media and formats across diverse business contexts.
Relates to: ULO4, Macro Analysis Briefing, Macro Report - Demonstrate and apply knowledge of socially responsible and sustainable business practices to address national and global business challenges in ways that create long-term value.
Relates to: ULO2, 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, 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 business knowledge, combining disciplinary depth and interdisciplinary insight, to address complex and evolving business challenges.
Relates to: ULO1, Macro Analysis Briefing, End of Semester Exam - Investigate complex business issues by critically analysing, evaluating, and synthesising theory and practice to generate evidence-based insights.
Relates to: ULO1, ULO2, ULO3, Macro Report , End of Semester Exam - Communicate effectively and professionally in written forms, demonstrating information literacy and the ability to craft clear, purposeful, and audience-appropriate messages using suitable media and formats across diverse business contexts.
Relates to: ULO4, Macro Analysis Briefing, Macro Report - Demonstrate and apply knowledge of socially responsible and sustainable business practices to address national and global business challenges in ways that create long-term value.
Relates to: ULO2, Macro Report
Unit Outline: Semester 1 2027, Online
| Unit code: | EFB229 |
|---|---|
| Credit points: | 12 |
| Pre-requisite: | 24 credit points of completed study. EFB231 for UD05 students only. |
| 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. 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 you with 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]
- Apply written communication skills to diverse contexts. [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.
You 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).
Unit Grading Scheme
7- point scale
Assessment Tasks
Assessment: Macro Analysis Briefing
-
Conduct a macroeconomic analysis using relevant data and theory.
-
Present your findings in a clear, concise, and professional format, suitable for your manager to use when briefing a client.
-
Use graphs, tables, and visual aids to illustrate trends and relationships.
-
Provide written explanations to accompany your analysis, ensuring concepts are explained in plain language.
The ethical and responsible use of generative artificial intelligence (GenAI) tools is authorised in this assessment. See the relevant assessment details in Canvas for specific guidelines.
This assessment item requires your online attendance during the lecture time.
The late submission period does not apply, and no assignment extensions are available.
Formative or Summative: Formative and Summative
Business Capabilities (AoL goals): KS (1.1), PC (3.1)
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.
The ethical and responsible use of generative artificial intelligence (GenAI) tools is authorised in this assessment. See the relevant assessment details in Canvas for specific guidelines.
This assignment is eligible for the 48-hour late submission period and assignment extensions.
Formative or Summative: Formative and Summative
Business Capabilities (AoL goals): HO (2.1), PC (3.1), SE (5.2)
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.
The use of generative artificial intelligence (GenAI) tools is prohibited during this assessment.
This invigilated examination requires attendance on campus or at an assessment centre, regardless of your attendance mode for the unit.
This assessment item is Verified Identity Assessment. Requirements are provided on the Unit Canvas site.
Formative or Summative: Summative
Business Capabilities (AoL goals): KS (1.1), HO (2.1)
Academic Integrity
Academic integrity is a commitment to undertaking academic work and assessment in a manner that is ethical, fair, honest, respectful and accountable.
The Academic Integrity Policy sets out the range of conduct that can be a failure to maintain the standards of academic integrity. This includes, cheating in exams, plagiarism, self-plagiarism, collusion and contract cheating. It also includes providing fraudulent or altered documentation in support of an academic concession application, for example an assignment extension or a deferred exam.
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.
Breaching QUT’s Academic Integrity Policy or engaging in conduct that may defeat or compromise the purpose of assessment can lead to a finding of student misconduct (Code of Conduct – Student) and result in the imposition of penalties under the Management of Student Misconduct Policy, ranging from a grade reduction to exclusion from QUT.
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)
Acemoglu, D., Laibson, D., & List, J. (2021). Macroeconomics (3rd ed., Global ed.). Pearson.
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 teaching activities in this unit.
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 business knowledge, combining disciplinary depth and interdisciplinary insight, to address complex and evolving business challenges.
Relates to: ULO1, Macro Analysis Briefing, End of Semester Exam - Investigate complex business issues by critically analysing, evaluating, and synthesising theory and practice to generate evidence-based insights.
Relates to: ULO1, ULO2, ULO3, Macro Report , End of Semester Exam - Communicate effectively and professionally in written forms, demonstrating information literacy and the ability to craft clear, purposeful, and audience-appropriate messages using suitable media and formats across diverse business contexts.
Relates to: ULO4, Macro Analysis Briefing, Macro Report - Demonstrate and apply knowledge of socially responsible and sustainable business practices to address national and global business challenges in ways that create long-term value.
Relates to: ULO2, 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, 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 business knowledge, combining disciplinary depth and interdisciplinary insight, to address complex and evolving business challenges.
Relates to: ULO1, Macro Analysis Briefing, End of Semester Exam - Investigate complex business issues by critically analysing, evaluating, and synthesising theory and practice to generate evidence-based insights.
Relates to: ULO1, ULO2, ULO3, Macro Report , End of Semester Exam - Communicate effectively and professionally in written forms, demonstrating information literacy and the ability to craft clear, purposeful, and audience-appropriate messages using suitable media and formats across diverse business contexts.
Relates to: ULO4, Macro Analysis Briefing, Macro Report - Demonstrate and apply knowledge of socially responsible and sustainable business practices to address national and global business challenges in ways that create long-term value.
Relates to: ULO2, Macro Report
Unit Outline: Semester 2 2027, Gardens Point, Internal
| Unit code: | EFB229 |
|---|---|
| Credit points: | 12 |
| Pre-requisite: | 24 credit points of completed study. EFB231 for UD05 students only. |
| 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. 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 you with 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]
- Apply written communication skills to diverse contexts. [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.
You 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).
Unit Grading Scheme
7- point scale
Assessment Tasks
Assessment: Macro Analysis Briefing
-
Conduct a macroeconomic analysis using relevant data and theory.
-
Present your findings in a clear, concise, and professional format, suitable for your manager to use when briefing a client.
-
Use graphs, tables, and visual aids to illustrate trends and relationships.
-
Provide written explanations to accompany your analysis, ensuring concepts are explained in plain language.
The ethical and responsible use of generative artificial intelligence (GenAI) tools is authorised in this assessment. See the relevant assessment details in Canvas for specific guidelines.
This assessment item requires your online attendance during the lecture time.
The late submission period does not apply, and no assignment extensions are available.
Formative or Summative: Formative and Summative
Business Capabilities (AoL goals): KS (1.1), PC (3.1)
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.
The ethical and responsible use of generative artificial intelligence (GenAI) tools is authorised in this assessment. See the relevant assessment details in Canvas for specific guidelines.
This assignment is eligible for the 48-hour late submission period and assignment extensions.
Formative or Summative: Formative and Summative
Business Capabilities (AoL goals): HO (2.1), PC (3.1), SE (5.2)
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.
The use of generative artificial intelligence (GenAI) tools is prohibited during this assessment.
This invigilated examination requires attendance on campus or at an assessment centre, regardless of your attendance mode for the unit.
This assessment item is Verified Identity Assessment. Requirements are provided on the Unit Canvas site.
Formative or Summative: Summative
Business Capabilities (AoL goals): KS (1.1), HO (2.1)
Academic Integrity
Academic integrity is a commitment to undertaking academic work and assessment in a manner that is ethical, fair, honest, respectful and accountable.
The Academic Integrity Policy sets out the range of conduct that can be a failure to maintain the standards of academic integrity. This includes, cheating in exams, plagiarism, self-plagiarism, collusion and contract cheating. It also includes providing fraudulent or altered documentation in support of an academic concession application, for example an assignment extension or a deferred exam.
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.
Breaching QUT’s Academic Integrity Policy or engaging in conduct that may defeat or compromise the purpose of assessment can lead to a finding of student misconduct (Code of Conduct – Student) and result in the imposition of penalties under the Management of Student Misconduct Policy, ranging from a grade reduction to exclusion from QUT.
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)
Acemoglu, D., Laibson, D., & List, J. (2021). Macroeconomics (3rd ed., Global ed.). Pearson.
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 teaching activities in this unit.
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 business knowledge, combining disciplinary depth and interdisciplinary insight, to address complex and evolving business challenges.
Relates to: ULO1, Macro Analysis Briefing, End of Semester Exam - Investigate complex business issues by critically analysing, evaluating, and synthesising theory and practice to generate evidence-based insights.
Relates to: ULO1, ULO2, ULO3, Macro Report , End of Semester Exam - Communicate effectively and professionally in written forms, demonstrating information literacy and the ability to craft clear, purposeful, and audience-appropriate messages using suitable media and formats across diverse business contexts.
Relates to: ULO4, Macro Analysis Briefing, Macro Report - Demonstrate and apply knowledge of socially responsible and sustainable business practices to address national and global business challenges in ways that create long-term value.
Relates to: ULO2, 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, 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 business knowledge, combining disciplinary depth and interdisciplinary insight, to address complex and evolving business challenges.
Relates to: ULO1, Macro Analysis Briefing, End of Semester Exam - Investigate complex business issues by critically analysing, evaluating, and synthesising theory and practice to generate evidence-based insights.
Relates to: ULO1, ULO2, ULO3, Macro Report , End of Semester Exam - Communicate effectively and professionally in written forms, demonstrating information literacy and the ability to craft clear, purposeful, and audience-appropriate messages using suitable media and formats across diverse business contexts.
Relates to: ULO4, Macro Analysis Briefing, Macro Report - Demonstrate and apply knowledge of socially responsible and sustainable business practices to address national and global business challenges in ways that create long-term value.
Relates to: ULO2, Macro Report
Unit Outline: Semester 2 2027, Online
| Unit code: | EFB229 |
|---|---|
| Credit points: | 12 |
| Pre-requisite: | 24 credit points of completed study. EFB231 for UD05 students only. |
| 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. 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 you with 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]
- Apply written communication skills to diverse contexts. [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.
You 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).
Unit Grading Scheme
7- point scale
Assessment Tasks
Assessment: Macro Analysis Briefing
-
Conduct a macroeconomic analysis using relevant data and theory.
-
Present your findings in a clear, concise, and professional format, suitable for your manager to use when briefing a client.
-
Use graphs, tables, and visual aids to illustrate trends and relationships.
-
Provide written explanations to accompany your analysis, ensuring concepts are explained in plain language.
The ethical and responsible use of generative artificial intelligence (GenAI) tools is authorised in this assessment. See the relevant assessment details in Canvas for specific guidelines.
This assessment item requires your online attendance during the lecture time.
The late submission period does not apply, and no assignment extensions are available.
Formative or Summative: Formative and Summative
Business Capabilities (AoL goals): KS (1.1), PC (3.1)
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.
The ethical and responsible use of generative artificial intelligence (GenAI) tools is authorised in this assessment. See the relevant assessment details in Canvas for specific guidelines.
This assignment is eligible for the 48-hour late submission period and assignment extensions.
Formative or Summative: Formative and Summative
Business Capabilities (AoL goals): HO (2.1), PC (3.1), SE (5.2)
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.
The use of generative artificial intelligence (GenAI) tools is prohibited during this assessment.
This invigilated examination requires attendance on campus or at an assessment centre, regardless of your attendance mode for the unit.
This assessment item is Verified Identity Assessment. Requirements are provided on the Unit Canvas site.
Formative or Summative: Summative
Business Capabilities (AoL goals): KS (1.1), HO (2.1)
Academic Integrity
Academic integrity is a commitment to undertaking academic work and assessment in a manner that is ethical, fair, honest, respectful and accountable.
The Academic Integrity Policy sets out the range of conduct that can be a failure to maintain the standards of academic integrity. This includes, cheating in exams, plagiarism, self-plagiarism, collusion and contract cheating. It also includes providing fraudulent or altered documentation in support of an academic concession application, for example an assignment extension or a deferred exam.
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.
Breaching QUT’s Academic Integrity Policy or engaging in conduct that may defeat or compromise the purpose of assessment can lead to a finding of student misconduct (Code of Conduct – Student) and result in the imposition of penalties under the Management of Student Misconduct Policy, ranging from a grade reduction to exclusion from QUT.
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)
Acemoglu, D., Laibson, D., & List, J. (2021). Macroeconomics (3rd ed., Global ed.). Pearson.
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 teaching activities in this unit.
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 business knowledge, combining disciplinary depth and interdisciplinary insight, to address complex and evolving business challenges.
Relates to: ULO1, Macro Analysis Briefing, End of Semester Exam - Investigate complex business issues by critically analysing, evaluating, and synthesising theory and practice to generate evidence-based insights.
Relates to: ULO1, ULO2, ULO3, Macro Report , End of Semester Exam - Communicate effectively and professionally in written forms, demonstrating information literacy and the ability to craft clear, purposeful, and audience-appropriate messages using suitable media and formats across diverse business contexts.
Relates to: ULO4, Macro Analysis Briefing, Macro Report - Demonstrate and apply knowledge of socially responsible and sustainable business practices to address national and global business challenges in ways that create long-term value.
Relates to: ULO2, 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, 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 business knowledge, combining disciplinary depth and interdisciplinary insight, to address complex and evolving business challenges.
Relates to: ULO1, Macro Analysis Briefing, End of Semester Exam - Investigate complex business issues by critically analysing, evaluating, and synthesising theory and practice to generate evidence-based insights.
Relates to: ULO1, ULO2, ULO3, Macro Report , End of Semester Exam - Communicate effectively and professionally in written forms, demonstrating information literacy and the ability to craft clear, purposeful, and audience-appropriate messages using suitable media and formats across diverse business contexts.
Relates to: ULO4, Macro Analysis Briefing, Macro Report - Demonstrate and apply knowledge of socially responsible and sustainable business practices to address national and global business challenges in ways that create long-term value.
Relates to: ULO2, Macro Report