EFB349 Macroeconomic Policy
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: | EFB349 |
|---|---|
| Prerequisite(s): | EFB229 or EFB223 |
| 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: | EFB349 |
|---|---|
| Credit points: | 12 |
| Pre-requisite: | EFB229 or EFB223 |
| Coordinator: | Jayanta Sarkar | jayanta.sarkar@qut.edu.au |
Overview
Macroeconomic policies are of great significance as they are associated with changes to the health of an economy – that is, changes in short run economic fluctuations, economic growth, income distribution, employment, inflation, exchange rate, etc. This unit provides an in-depth understanding of these policies in a national as well as global context through a blend of theory and application. The unit also addresses some recent issues and debates in macroeconomic policymaking, such as the limitations of conventional fiscal and monetary policies and policy dilemmas in relation to growth and development.
This unit builds on and applies the theories in EFB229 Macroeconomics and investigates macroeconomic policies that impact on national and global economies, including but not limited to monetary, fiscal, trade, exchange rate, and technology-driven growth policies.
Learning Outcomes
On successful completion of this unit you will be able to:
- Apply knowledge of fundamental macroeconomic theories and ideas to analyse macroeconomic problems and policies using data
- Critically analyse and evaluate the nature, effects, and limitations of fiscal, monetary, and exchange rate policies and make policy recommendations
- Critically analyse the challenges of growth and development policy-making in a rapidly changing world and reflect on various policy issues
- Apply written and oral communication skills to present policy recommendations
Content
- Short-run economic stabilisation – fiscal policies
- Short-run economic stabilisation – monetary policies
- Trade and exchange rate policies
- Contemporary monetary policy issues
- Fiscal and monetary policy issues in Australia
- Labour market policies and dilemmas
- Policies on economic growth and technological progress
- Income/wealth inequality and redistributive policies
Learning Approaches
During the course of the semester, the students will dissect various macroeconomic policy issues and their limitations through the use of theory and data. The unit will help the students develop a critical understanding of the nuances of different policies.
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.
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: Critical Review
This assessment piece requires application of theory and data to write an academic critique of an article/analysis or opinion piece published in economic magazines/journals. KS (1.1), HO (2.1), HO (2.2), PC (3.1)
This is an assignment for the purposes of an extension.
Assessment: Policy Report
Taking on the role of policy advisers, you will evaluate policies and collect data and analyse relevant issues to make recommendations to policy makers. KS (1.1), HO (2.1), HO (2.2), PC (3.1), PC (3.2), SE (5.1)
This is an assignment for the purposes of an extension.
Assessment: End of Semester Exam
Compulsory, closed book, final examination 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 prescribed texts and additional resources added to the Canvas site.
Resource Materials
Prescribed text(s)
The Economics of Macro Issues by Roger LeRoy Miller, and Daniel K. Benjamin (Pearson)
Reference book(s)
The Economy (open access digital text), CORE
Other
Other resources will be provided on Canvas
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, Critical Review, Policy Report, End of Semester Exam
HO (2.2): Independent Judgement and Decision-Making
Relates to: ULO2, Critical Review, Policy Report
KS (1.1): Discipline Knowledge
Relates to: ULO1, Critical Review, Policy Report, End of Semester Exam
PC (3.1): Professional Communication (Written)
Relates to: ULO2, ULO4, Critical Review, Policy Report
PC (3.2): Professional Communication (Oral)
Relates to: ULO4, Policy Report
SE (5.1): Ethical and Legal Understanding
Relates to: ULO3
TS (4.1): Self-Reflection and Accountability
Relates to: Policy 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, Critical Review, End of Semester Exam - Investigate real world business issues and situations through the effective analysis, evaluation and synthesis of theory and practice.
Relates to: ULO1, ULO2, ULO3, Critical Review, End of Semester Exam - Exercise independent judgement and initiative in adapting and applying knowledge and skills for effective planning, problem solving and decision making in diverse contexts.
Relates to: ULO2, Critical Review - Use information literacy skills, and communicate effectively and professionally in written forms and using media appropriate for diverse purposes and contexts.
Relates to: ULO2, ULO4, Critical Review - Use information literacy skills, and communicate effectively and professionally in oral forms, appropriate for diverse purposes and contexts.
Relates to: ULO4 - Demonstrate and apply knowledge of ethical and legal principles and practices in analysing and responding to business issues.
Relates to: ULO3
Unit Outline: Semester 1 2024, Online
| Unit code: | EFB349 |
|---|---|
| Credit points: | 12 |
| Pre-requisite: | EFB229 or EFB223 |
Overview
Macroeconomic policies are of great significance as they are associated with changes to the health of an economy – that is, changes in short run economic fluctuations, economic growth, income distribution, employment, inflation, exchange rate, etc. This unit provides an in-depth understanding of these policies in a national as well as global context through a blend of theory and application. The unit also addresses some recent issues and debates in macroeconomic policymaking, such as the limitations of conventional fiscal and monetary policies and policy dilemmas in relation to growth and development.
This unit builds on and applies the theories in EFB229 Macroeconomics and investigates macroeconomic policies that impact on national and global economies, including but not limited to monetary, fiscal, trade, exchange rate, and technology-driven growth policies.
Learning Outcomes
On successful completion of this unit you will be able to:
- Apply knowledge of fundamental macroeconomic theories and ideas to analyse macroeconomic problems and policies using data
- Critically analyse and evaluate the nature, effects, and limitations of fiscal, monetary, and exchange rate policies and make policy recommendations
- Critically analyse the challenges of growth and development policy-making in a rapidly changing world and reflect on various policy issues
- Apply written and oral communication skills to present policy recommendations
Content
- Short-run economic stabilisation – fiscal policies
- Short-run economic stabilisation – monetary policies
- Trade and exchange rate policies
- Contemporary monetary policy issues
- Fiscal and monetary policy issues in Australia
- Labour market policies and dilemmas
- Policies on economic growth and technological progress
- Income/wealth inequality and redistributive policies
Learning Approaches
During the course of the semester, the students will dissect various macroeconomic policy issues and their limitations through the use of theory and data. The unit will help the students develop a critical understanding of the nuances of different policies.
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.
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: Critical Review
This assessment piece requires application of theory and data to write an academic critique of an article/analysis or opinion piece published in economic magazines/journals. KS (1.1), HO (2.1), HO (2.2), PC (3.1)
This is an assignment for the purposes of an extension.
Assessment: Policy Report
Taking on the role of policy advisers, you will evaluate policies and collect data and analyse relevant issues to make recommendations to policy makers. KS (1.1), HO (2.1), HO (2.2), PC (3.1), PC (3.2), SE (5.1)
This is an assignment for the purposes of an extension.
Assessment: End of Semester Exam
Compulsory, closed book, final examination 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 prescribed texts and additional resources added to the Canvas site.
Resource Materials
Prescribed text(s)
The Economics of Macro Issues by Roger LeRoy Miller, and Daniel K. Benjamin (Pearson)
Reference book(s)
The Economy (open access digital text), CORE
Other
Other resources will be provided on Canvas
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, Critical Review, Policy Report, End of Semester Exam
HO (2.2): Independent Judgement and Decision-Making
Relates to: ULO2, Critical Review, Policy Report
KS (1.1): Discipline Knowledge
Relates to: ULO1, Critical Review, Policy Report, End of Semester Exam
PC (3.1): Professional Communication (Written)
Relates to: ULO2, ULO4, Critical Review, Policy Report
PC (3.2): Professional Communication (Oral)
Relates to: ULO4, Policy Report
SE (5.1): Ethical and Legal Understanding
Relates to: ULO3
TS (4.1): Self-Reflection and Accountability
Relates to: Policy 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, Critical Review, End of Semester Exam - Investigate real world business issues and situations through the effective analysis, evaluation and synthesis of theory and practice.
Relates to: ULO1, ULO2, ULO3, Critical Review, End of Semester Exam - Exercise independent judgement and initiative in adapting and applying knowledge and skills for effective planning, problem solving and decision making in diverse contexts.
Relates to: ULO2, Critical Review - Use information literacy skills, and communicate effectively and professionally in written forms and using media appropriate for diverse purposes and contexts.
Relates to: ULO2, ULO4, Critical Review - Use information literacy skills, and communicate effectively and professionally in oral forms, appropriate for diverse purposes and contexts.
Relates to: ULO4 - Demonstrate and apply knowledge of ethical and legal principles and practices in analysing and responding to business issues.
Relates to: ULO3