Subject ECON30009 (2016)

Note: This is an archived Handbook entry from 2016.

Credit Points: 12.5
Level: 3 (Undergraduate)
Dates & Locations:

This subject has the following teaching availabilities in 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 seminars, lectures and tutorials per week
Total Time Commitment:

170 hours


Both of:

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


Recommended Background Knowledge:

Please refer to Prerequisites and Corequisites.

Non Allowed Subjects:

Students who have completed ECON40002 Advanced Macroeconomics may not gain credit for ECON30009 Macroeconomics.

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 May Li


Subject Overview:

This subject is an introduction to advanced study of macroeconomics. An integrated theoretical framework – a simple life cycle model – is used to explore the central issues of macroeconomics. Major topics to be covered include: income determination and economic growth, economic fluctuations and business cycle, fiscal and monetary policy, open economy and international trade.

Learning Outcomes:

The overall objective of this subject is to provide students with an integrated neoclassical approach to address substantive macroeconomic questions so as to improve their critical thinking and analytical skills and enhance their understanding of aggregate economic behaviour.

  • Understand the development of macroeconomic thought and major macroeconomic theories.
  • Use the life cycle model to explain economic growth and identify important factors that lead to income differences across countries.
  • Analyse and simulate the dynamic responses of economic aggregates following changes in productivity, population, economic policies, and so on.
  • Extend the life cycle model to include fiscal policy and money to analyse the short-run and long-run economic effects of certain fiscal and monetary policy.
  • Use a two-country life cycle model to analyse important questions related to international trade and open economy.

A 2-hour end-of-semester examination (65%), written assignments totalling approximately 2000 words due in week 5 and week 11 (15%), a 1-hour mid-semester exam (10%) 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: problem solving; application of theory to practice; interpretation and analysis; critical thinking.

  • Moderate level of development: oral communication; written communication; collaborative learning; statistical reasoning; synthesis of data and other information; evaluation of data and other information; receptiveness to alternative ideas.

  • Some level of development: team work; use of computer software; accessing data and other information from a range of sources.


This subject is one of the three subjects which students proceeding to an honours degree in economics are required to take in third year, and has been designed accordingly. There are, however, no restrictions on entry to the subject which all third-year economics students are welcome to take.

Related Majors/Minors/Specialisations: Economics

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