791-227 Macroeconomics

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Objectives:

The objective of this subject is to enable students to:

• describe the major macroeconomic characteristics of the Australian economy;

• understand the major measures of macroeconomic performance, GDP, the price index and inflation and the balance of payments;

• describe, analyse and assess the current phase of the Australian business cycle and its likely future movements.

Content:

An introduction to the macroeconomic tools and definitions including the circular flow of money, the balance of payments, measurements of money aggregates and the demand for money. An introduction to the Keynesian model and the expenditure multiplier process. An overview of the Public Sector and Government Budgetary Policy, Monetary Policy and Incomes Policy.

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