BUS110 Macroeconomics

Unit outline

Important Update: Our aim is to provide you with an optimal learning experience, regardless of how this unit is delivered. Teaching will be delivered in line with the most current COVID Safe health guidelines.  This may include a mix of online and face-to-face.  Please check the learning management system for announcements and updates. Thank you for your flexibility and commitment to studying with Sydney Institute of Higher Education. 
Enrolment modes: Year 1, Semester 2
Credit point(s): 12.5
EFTSL value: 0.125
Prerequisite: Nil
Typical study commitment: Students will on average spend 10 hours per week over the teaching period undertaking the teaching, learning and assessment activities for this unit.
Scheduled learning activities: 4 timetabled hours per week, 6 personal study hours per week

Unit description 

Macroeconomics is the study of economy-wide phenomena. It explains how decisions made by millions of individuals and firms make changes to the overall economy. This unit instructs students in examining the economy in the long run and short run and in understanding macroeconomic policies and their effect on business activity. Students will learn a range of macroeconomic concepts including inflation, national income, unemployment and business cycles, and are required to use macroeconomic concepts to solve real-world business problems.


Unit learning outcomes (ULO)   

 
On the successful completion of this units student will be able to:
ULO1 Outline economy-wide phenomena including inflation, unemployment and economic growth by using graphic representation.
ULO2 Use economic indexes to measure a nation’s income (GDP) and the cost of living (CPI).
ULO3 Examine the determinants of productivity, the rules of national income accounting and the reasons for unemployment.
ULO4 Analyse money growth and inflation with a sound understanding of the monetary system.
ULO5 Investigate the reasons for economic fluctuations using aggregate demand and supply curves.

Topics to be included in the unit

1. The data of macroeconomics
2. National income
3. Money and inflation
4. The open economy
5. Unemployment
6. Economic fluctuations
7. Aggregate demand: IS-LM model
8. Mundell-Fleming model and exchange rate system
9. Aggregate supply
10. Trade-off between inflation and unemployment
11. Stabilisation policy
12. Money supply, money demand and the banking system

Assessment

Assessment Description Grading and weighting
(% total mark for unit)
Indicative due week 
Assessment 1: Mid-Semester Exam 30% Mid-semester exam week
Assessment 2: Individual Assignment 30% 12
Assessment 3: Final Exam 40% Final exam week

The assessment due weeks provided may change. Your lecturer will clarify the exact assessment requirements, including the due date, at the start of the teaching period.