MAE203 - The Global Economy
| Year: | 2024 unit information |
|---|---|
| Enrolment modes: | Trimester 1: Burwood (Melbourne), Waterfront (Geelong), Online Trimester 3: Online |
| Credit point(s): | 1 |
| Previously coded as: | MAE102, MAET102 |
| EFTSL value: | 0.125 |
| Prerequisite: | MAE101 or MAE120 |
| Corequisite: | Nil |
| Incompatible with: | MAE102, MAEM203, MAT203 |
| Study commitment | Students will on average spend 150 hours over the teaching period undertaking the teaching, learning and assessment activities for this unit. This will include educator guided online learning activities within the unit site. |
| Scheduled learning activities - campus | 1 x 2 hour on-campus lecture (recordings provided) and 1 x 1 hour on-campus seminar (recordings provided) each week. |
| Scheduled learning activities - online | 1 x 2 hour recorded lecture and 1 x 1 hour online seminar each week. |
Content
This intermediate-level Macroeconomics unit builds on the principles of Macroeconomics taught in MAE101. This unit covers important macroeconomics topics, such as business cycles, stabilization policy, economic recession, the natural rate of unemployment, persistent inflation, and the effects of government debt on the economy. The unit starts with Robert Solow’s Nobel prize-winning model that explains economic growth and economic inequality across countries. You will then be gradually introduced to the macroeconomic framework to understand the temporal shifts in GDP, unemployment, and prices and the policies to manage these fluctuations in line with major schools of thought, such as Keynesian way of thinking. Finally, you will learn about applications of this macroeconomic framework to different exchange rate markets. In this unit, case studies will be used to enhance your understanding of recent developments in the global economy, such as the debt and financial crises, global recession, mining and resources boom, the Covid-19 pandemic, rising inflation worldwide, and the housing market crises. Upon completing this unit, you will have understood the macroeconomic foundations of poverty, inequality, unemployment, and sustainable economic development.
Hurdle requirement
Hurdle requirement: Achieve at least 40% of the marks available on the end-of-unit assessment task to evidence a minimum proficiency in the aligned discipline learning outcomes included in this unit.
Unit Fee Information
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