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BX2022 - Macroeconomic Policy

Credit points: 3
Year: 2012
Student Contribution Band: Band 3
Administered by: School of Business

Available to all JCU students although it is assumed that those who choose to enrol have a sound understanding of introductory economic principles.

This subject provides a theoretical and conceptual extension to BU1003:03 (Economics for Business) of which prior knowledge is assumed. As such, it examines the theoretical foundations of monetary and fiscal policy and their implications for inflation and unemployment, interest and exchange rates, money demand and supply, trade and the balance of payments, consumption, investment and government expenditure, aggregate demand and supply. Current real world policy issues are evaluated in view of the various contributing theories and schools of thought, and a research assignment requiring policy scenario evaluations is included.

Learning Outcomes

  • Think critically and evaluate macroeconomic policy arguments;
  • Analyse and interpret (and calculate with) macroeconomic (national accounts) data;
  • Speak and write logically, clearly and creatively, to those within and outside the profession;
  • Work within teams;
  • Select and use appropriate on-line technologies.

Graduate Qualities

  • The ability to adapt knowledge to new situations;
  • The ability to define and to solve problems in at least one discipline area;
  • The ability to think critically, to analyse and evaluate claims, evidence and arguments, and to reason and deploy evidence clearly and logically;
  • The ability to deploy critically evaluated information to practical ends;
  • The ability to find and access information using appropriate media and technologies;
  • The ability to evaluate that information;
  • An understanding of the economic, legal, ethical, social and cultural issues involved in the use of information;
  • The ability to select and organise information and to communicate it accurately, cogently, coherently, creatively and ethically;
  • The acquisition of coherent and disciplined sets of skills, knowledge, values and professional ethics from at least one discipline area;
  • The ability to generate, calculate, interpret and communicate numerical information in ways appropriate to a given discipline or discourse;
  • The ability to communicate effectively with a range of audiences;
  • The ability to lead, manage and contribute effectively to teams;
  • The ability to work with people of different gender, age, ethnicity, culture, religion and political persuasion;
  • The ability to work individually and independently;
  • The ability to select and use appropriate tools and technologies.
Prerequisites: BU1003 OR EC1005 OR EC1001
EC5206 AND EC2000


Townsville, Study Period 2, Internal
Census Date 23-Aug-2012
Coord/Lect: Dr Hong-Bo Liu.
Workload expectations:
  • 26 hours lectures
  • 12 hours workshops/Seminars
Assessment: end of semester exam (% - 45%); quizzes or tests (% - 25%); tutorial attendance and participation (% - 5%); assignments (% - 25%).

Note: Minor variations might occur due to the continuous Subject quality improvement process, and in case of minor variation(s) in assessment details, the Subject Outline represents the latest official information.