Macroeconomics for Managers

This subject is not offered in 2014.

Estimated total time commitment of 120 hours per semester

Entry into the Master of Management suite of programs and to students enrolled in programs offered by the Graduate School of Humanities and Social Sciences.

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This subject is not available to students enrolled in MC-ECO Master of Economics

For the purposes of considering requests for Reasonable Adjustments under the Disability Standards for Education (Cwth 2005), and Students Experiencing Academic Disadvantage Policy, academic requirements for this subject are articulated in the Subject Description, Subject Objectives, Generic Skills and Assessment Requirements for this entry.

The University is dedicated to provide support to those with special requirements. Further details on the disability support scheme can be found at the Disability Liaison Unit website: http://www.services.unimelb.edu.au/disability/

The subject covers issues relating to the labour market (employment and unemployment), the product market (consumption, saving and investment) and the markets for finance and foreign exchange. It covers the role of government economic policy as well as issues such as inflation and the balance of payments.

On successful completion of this subject students should be able to:

• Synthesise the Classical and Keynesian divide within macroeconomic theory and policy;
• Identify and classify the constituent parts of a countrys Balance of Payments and explain the factors that may influence these components;
• Explain both the causes and consequences of movement in a countrys exchange rate;
• Explain both the causes and consequences of inflation and evaluate the policy options available to governments;
• Explain both the causes and consequences of unemployment and evaluate the policy options available to governments;
• Identify and explain key aspects of both monetary and budgetary policy;
• Access and interpret a wide range of economic statistics.

• 2-hour end-of-semester examination (70%);
• 2000 word assignment due in week 10 (20%); and
• A multiple choice test in week 8 (10%).

You will be advised of prescribed texts by your lecturer.

This subject is not available as a breadth subject.

On successful completion of this subject, students should have improved the following generic skills:

• Evaluation of ideas, views and evidence
• Synthesis of ideas, views and evidence
• Critical thinking
• Application of theory to economic policy and business decision making
• Accessing economic and other information
• Summary and interpretation of information
• Written communication

Enrolment restricted to Graduate Diploma in Employee Relations and Human Resource Management, the Master of Management suite of programs and to Arts Faculty students. This subject is not available to students who have passed ECON10003 Introductory Macroeconomics or equivalent.