MAE203 - The Global Economy

Unit details

Year:

2024 unit information

Enrolment modes:Trimester 1: Burwood (Melbourne), Waterfront (Geelong), Online
Trimester 3: Online
Credit point(s):1
EFTSL value:0.125
Previously coded as:MAE102, MAET102
Unit Chair:Trimester 1: Francesco Carli
Trimester 3: Xueli Tang
Prerequisite:

MAE101 or MAE120

Corequisite:Nil
Incompatible with: MAE102, MAEM203, MAT203
Typical 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.

Educator-facilitated (scheduled) learning activities - on-campus unit enrolment:

1 x 2 hour on-campus lecture (recordings provided) and 1 x 1 hour on-campus seminar (recordings provided) each week.

Educator-facilitated (scheduled) learning activities - online unit enrolment:

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.

ULO These are the Learning Outcomes (ULO) for this unit. At the completion of this unit, successful students can: Deakin Graduate Learning Outcomes
ULO1

Describe and apply key macroeconomic concepts in a global context.

GLO1: Discipline-specific knowledge and capabilities

ULO2

Use suitable macroeconomic models to explain long-run growth and short-run economic fluctuations.

GLO1:  Discipline-specific knowledge and capabilities
GLO4: Critical thinking 
GLO5: Problem solving

ULO3

Critically analyse the role of monetary and fiscal policies in an economy. 

GLO1: Discipline-specific knowledge and capabilities
GLO4: Critical thinking

Assessment

Assessment Description Student output Grading and weighting
(% total mark for unit)
Indicative due week
Assessment 1: (Individual) 3 x (Online) Multiple Choice Quiz - 15% (5% each) Weeks 4, 8 & 11
Assessment 2: (Individual) Problem-based Written Assignment 2000 words 25% Week 9
End-of-unit assessment task: Written  2 hours 60% End-of-unit assessment period

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

Hurdle requirement

Hurdle requirementAchieve 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.

Learning Resource

The texts and reading list for the unit can be found on the University Library via the link below: MAE203 Note: Select the relevant trimester reading list. Please note that a future teaching period's reading list may not be available until a month prior to the start of that teaching period so you may wish to use the relevant trimester's prior year reading list as a guide only.

Unit Fee Information

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