Introductory Macroeconomics

Subject ECON10003 (2016)

Note: This is an archived Handbook entry from 2016.

Credit Points: 12.5
Level: 1 (Undergraduate)
Dates & Locations:

This subject has the following teaching availabilities in 2016:

January, Parkville - Taught on campus.
Pre-teaching Period Start not applicable
Teaching Period 04-Jan-2016 to 14-Feb-2016
Assessment Period End 28-Feb-2016
Last date to Self-Enrol 12-Jan-2016
Census Date 15-Jan-2016
Last date to Withdraw without fail 12-Feb-2016

Semester 1, Parkville - Taught on campus.
Pre-teaching Period Start not applicable
Teaching Period 29-Feb-2016 to 29-May-2016
Assessment Period End 24-Jun-2016
Last date to Self-Enrol 11-Mar-2016
Census Date 31-Mar-2016
Last date to Withdraw without fail 06-May-2016

Semester 2, Parkville - Taught on campus.
Pre-teaching Period Start not applicable
Teaching Period 25-Jul-2016 to 23-Oct-2016
Assessment Period End 18-Nov-2016
Last date to Self-Enrol 05-Aug-2016
Census Date 31-Aug-2016
Last date to Withdraw without fail 23-Sep-2016

Timetable can be viewed here. For information about these dates, click here.
Time Commitment: Contact Hours: Three hours of lectures, tutorials and workshops per week
Total Time Commitment:

170 hours

Study Period Commencement:
Credit Points:
Semester 1, Semester 2

And, for students who did not achieve a study score of at least 25 in Mathematical Methods or Specialist Mathematics in VCE Units 3 & 4 or equivalent, successful completion of:

Study Period Commencement:
Credit Points:
Summer Term, Semester 1


Recommended Background Knowledge:

Please refer to Prerequisites and Corequisites.

Non Allowed Subjects:


Core Participation Requirements:

For the purposes of considering request for Reasonable Adjustments under the Disability Standards for Education (Cwth 2005), and Student Support and Engagement Policy, academic requirements for this subject are articulated in the Subject Overview, Learning Outcomes, Assessment and Generic Skills sections of this entry.

It is University policy to take all reasonable steps to minimise the impact of disability upon academic study, and reasonable adjustments will be made to enhance a student's participation in the University's programs. Students who feel their disability may impact on meeting the requirements of this subject are encouraged to discuss this matter with a Faculty Student Adviser and Student Equity and Disability Support:


Dr Lawrence Uren, Ms Nahid Khan, Prof Robert Dixon


Summer: Nahid Khan

Semester 1: Lawrence Uren

Semester 2: Robert Dixon

Subject Overview:

An introduction to macroeconomic theory and policy. Topics will include economic aggregates such as production and employment, the general level of prices and inflation, the exchange rate, interest rates, monetary and fiscal policies, the balance of payments and economic growth. Analysis is particularly directed to current macroeconomic problems and policy issues.

Learning Outcomes:

• Explain the importance of the circular flow of income to macroeconomics.
• Interpret the meaning and measurement of macroeconomic aggregates such as Gross Domestic Product.
• Explain and use the Keynesian model of national income determination.
• Describe the roles of money and the financial system in the macroeconomy.
• Critically analyse macroeconomic policies appropriate to the achievement of the macroeconomic objectives.
• Explain and apply the aggregate demand/aggregate supply model.
• Explain the key features of the neoclassical model of growth.
• Analyse the factors influencing the balance of payments and the exchange rate.


A 2-hour end-of-semester examination (60%), two multiple choice tests, one conducted at the end of the fourth week of the semester, the other conducted in the eleventh week of the semester (10%), two assignments totalling not more than 2,500 words (20%), and tutorial attendance and participation (10%).

Prescribed Texts:

You will be advised of prescribed texts by your lecturer.

Breadth Options:

This subject potentially can be taken as a breadth subject component for the following courses:

You should visit learn more about breadth subjects and read the breadth requirements for your degree, and should discuss your choice with your student adviser, before deciding on your subjects.

Fees Information: Subject EFTSL, Level, Discipline & Census Date
Generic Skills:

• High level of development: written communication; collaborative learning; critical thinking; synthesis of data and other information; application of theory to practice.
• Moderate level of development: oral communication; problem solving; team work; interpretation and analysis; evaluation of data and other information; accessing data and other information from a range of sources; receptiveness to alternative ideas.
• Some level of development: statistical reasoning.

Related Course(s): Bachelor of Environments
Related Majors/Minors/Specialisations: Economics
Property major
Related Breadth Track(s): A Long-Run Economic Perspective
Contemporary Public Economic Policy
Global Economic Issues

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