Unit Outline

This unit uses a contemporary macroeconomic modelling framework to analyse the role of fiscal and monetary policies on economic outcomes. The study of fiscal policy includes the role of stimulus during recessions, and the impact and consequences of government expenditures and tax policies on its budget, debt and on private sector behaviour. The study of monetary policy includes business cycle stabilization and inflation targeting by central banks with conventional and unconventional policies when the zero lower bound constrains interest rates. Students who successfully complete this unit will be able to critically discuss and examine current economic conditions and policies using economic models as a tool for organising their arguments.

Intended Learning Outcomes

As per the Assessment and Results Policy 1.3, your results will reflect your achievement against specified learning outcomes.

On completion of this unit, you will be able to:


1.	Apply economic models to the analysis of economies and critically evaluate fiscal and monetary policies.
2.	Communicate policy analysis as well as evidence-based policy recommendations.
3.	Access, analyse and interpret economic data.

Requisites


REQUISITE TYPE	REQUISITES
Pre-requisite	BEA121 OR Completion of the Bachelor of Business

Alterations as a result of student feedback

How will I be Assessed?

For more detailed assessment information please see MyLO.

Assessment schedule


ASSESSMENT TASK #	ASSESSMENT TASK NAME	DATE DUE	WEIGHT	LINKS TO INTENDED LEARNING OUTCOMES
Assessment Task 1:	Mid-semester test	Week 7	30 %	LO1, LO2
Assessment Task 2:	Group Assignment	Week 11	30 %	LO1, LO2, LO3
Assessment Task 3:	Take-home exam	Exam Period	40 %	LO1, LO2, LO3

Assessment details

Assessment Task 1: Mid-semester test

Task Description:

There will be two short-answer tests to be completed in MyLO.

Test 1 is worth 10% and will cover content from weeks 1-3. Task length: 45 minutes. Due in week 4.

Test 2 is worth 20% and will examine material covered in weeks 1-6. Task length: 90 minutes. Due in week 7.

Both tests will be accessible from 6.00am to 11.59pm Hobart time.

Task Length:

2 x tests

Due Date:

Week 7

Weight:

30 %

CRITERION #

CRITERION

MEASURES INTENDED

LEARNING OUTCOME(S)


1	Select and apply economic models.	LO1
2	Explain how economic data and policy relate to economic models.	LO1
3	Report on and defend presented arguments.	LO2
4	Research and critique existing analyses of the economy.	LO2

Assessment Task 2: Group Assignment

Task Description:

The group assignment will require you to access, analyse and interpret economic data. Out of the 30% assessment weight, 25% is for the report itself and 5% is for an individual reflection piece on group work. Detailed guidelines and instructions will be distributed four weeks before the due date and posted on MyLO.

Task Length:

2000 words

Due Date:

Week 11

Weight:

30 %

CRITERION #

CRITERION

MEASURES INTENDED

LEARNING OUTCOME(S)


1	Select and apply economic models.	LO1
2	Explain how economic data and policy relate to economic models.	LO1
3	Report on and defend presented arguments.	LO2
4	Research and critique existing analyses of the economy.	LO2
5	Reflect on leadership, teamwork and communication in groupwork.	LO2
6	Access and present economic data.	LO3
7	Use statistical tools to interpret and relate data to economic models.	LO3

Assessment Task 3: Take-home exam

Task Description:

The take-home exam will mainly consist of short-answer questions. It will cover material from weeks 1-12, with a focus on lectures 7-12.

Task Length:

24 hours

Due Date:

Exam Period

Weight:

40 %

CRITERION #

CRITERION

MEASURES INTENDED

LEARNING OUTCOME(S)


1	Select and apply economic models.	LO1
2	Explain how economic data and policy relate to economic models.	LO1
3	Report on and defend presented arguments.	LO2
4	Research and critique existing analyses of the economy.	LO2
5	Use statistical tools to interpret and relate data to economic models.	LO3

How your final result is determined

To pass this unit, you need to demonstrate your attainment of each of the Intended Learning Outcomes, achieve a final unit grade of 50% or greater, and pass any hurdle tasks.

Submission of assignments

Where practicable, assignments should be submitted to an assignment submission folder in MYLO. You must submit assignments by the due date or receive a penalty (unless an extension of time has been approved by the Unit Coordinator). Students submitting any assignment in hard copy, or because of a practicum finalisation, must attach a student cover sheet and signed declaration for the submission to be accepted for marking.

Academic integrity

Academic integrity is about acting responsibly, honestly, ethically, and collegially when using, producing, and communicating information with other students and staff members.

In written work, you must correctly reference the work of others to maintain academic integrity. To find out the referencing style for this unit, see the assessment information in the MyLO site, or contact your teaching staff. For more detail about Academic Integrity, see Important Guidelines & Support.

Requests for extensions

If you are unable to submit an assessment task by the due date, you should apply for an extension.

A request for an extension should first be discussed with your Unit Coordinator or teaching support team where possible. A request for an extension must be submitted by the assessment due date, except where you can provide evidence it was not possible to do so. Typically, an application for an extension will be supported by documentary evidence: however, where it is not possible for you to provide evidence please contact your Unit Coordinator.

The Unit Coordinator must notify you of the outcome of an extension request within 3 working days of receiving the request.

Late penalties

Assignments submitted after the deadline will receive a late penalty of 5% of the original available mark for each calendar day (or part day) that the assignment is late. Late submissions will not be accepted more than 10 calendar days after the due date, or after assignments have been returned to other students on a scheduled date, whichever occurs first. Further information on Late Penalties can be found on the Assessments and Results Procedure.

Review of results and appeals

You are entitled to ask for a review of the marking and grading of your assessment task if there is an irregularity in the marking standards or an error in the process for determining the outcome of an assessment. Details on how to request a review of a mark for an assignment are outlined in the Review and Appeal of Academic Decisions Procedure.