Competing theories of Macroeconomics are analysed in the context of the assumptions on which they are based. These theories have widely differing implications for countercyclical fiscal and monetary policy. Students will develop their own informed view of how the Macroeconomy works.

Learning outcomes

After successful completion of this unit, students will be able to:
1. Explain rival macroeconomic theories and the assumptions underpinning them;
2. Use macroeconomic theory to develop recommendations for appropriate monetary and fiscal policy and be able to explain the reasons for these proposals; and
3. Reflect upon their unit experience, including theories, discussions and feedback, and how it relates to the goals set out in their professional portfolio.

Graduate attributes

1. UC graduates are professional - communicate effectively
1. UC graduates are professional - display initiative and drive, and use their organisation skills to plan and manage their workload
1. UC graduates are professional - employ up-to-date and relevant knowledge and skills
1. UC graduates are professional - take pride in their professional and personal integrity
2. UC graduates are global citizens - adopt an informed and balanced approach across professional and international boundaries
2. UC graduates are global citizens - think globally about issues in their profession
3. UC graduates are lifelong learners - adapt to complexity, ambiguity and change by being flexible and keen to engage with new ideas
3. UC graduates are lifelong learners - be self-aware
3. UC graduates are lifelong learners - reflect on their own practice, updating and adapting their knowledge and skills for continual professional and academic development

Prerequisites

11175 Introduction to Economics AND 11223 Money, Employment and Growth.

Corequisites

None.

Incompatible units

None.

Equivalent units

6383 Intermediate Macroeconomics.

Assumed knowledge

This unit requires sound prior knowledge of economic and, specifically, macroeconomic principles and theories, which are covered in the pre-requisite units Introduction to Economics and Money, Employment and Growth.