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Macroeconomics

KK Tang

If you have ever wondered what all those economic news and statistics mean to you, how policy changes by the government and central bank may affect your living standard, job or investment, and why things happened in countries far away can still find their way to impact on you here, this is the program for you!

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If you have ever wondered what all those economic news and statistics mean to you, how policy changes by the government and central bank may affect your living standard, job or investment, and why things happened in countries far away can still find their way to impact on you here, this is the program for you!

This is an introductory program in Macroeconomics. It focuses on explaining many macroeconomic phenomena that we either observed first hand or heard indirectly from the media. The program considers long-term economic growth in developed and developing economies. You’ll also learn why a national (or global) economy experiences short-term cycles in activity (e.g., recessions and recoveries) around its long-term growth trend.

The behaviour of an economy as a whole is often broadly predictable, but sometimes it can suddenly change due to a range of unpredictable factors such as regional conflicts, financial crises and health emergencies. This program explains what central banks and governments can do to try to smooth these fluctuations and to lift the living standard. Theories or ‘models’ widely used by governments, central banks and the private sector to conduct macroeconomic analyses are explained intuitively as well as discussed critically. The behaviour of the financial system, including the banking system and asset markets, is also considered, especially in the light of financial crises.

The three courses are based but extended on an introductory macroeconomics course taught on campus at The University of Queensland. A focus is placed on core economic principles that are immediately applicable rather than formal mathematical theorisation. A distinctive feature of these courses is their strong emphasis on the international aspect of macroeconomics. Recent global economic and non-economic events have highlighted the importance of understanding the interconnection between the domestic and the international economy.

This program is for everyone, whether you are studying at university, a career professional interested in expanding your economic knowledge, or simply curious about global economic behaviour and what influences it.

What you'll learn

  • Use macroeconomic terminology correctly.
  • Appraise the roles and functions of macroeconomic institutions.
  • Use diagrams, simple equations and words to explain key causal relationships in macroeconomics.
  • Analyse contemporary macroeconomic policy issues and their impacts on business and on society.
  • Understand macroeconomic data and know how to use them for analysis.

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What's inside

Three courses

Macroeconomics Policy

(9 hours)
This course introduces the Aggregate Demand Aggregate Supply (ADAS) model and its use in understanding real GDP deviations from its natural level. It covers fiscal and monetary policies, including fractional reserve banking, credit, and reserve requirements. The course explores various monetary policies and the role of cash rates and open market operations.

International Macroeconomics

(9 hours)
Whether or not you are an avid learner of economics, this course on international macroeconomics will deliver a great level of understanding on the international economy as well as trade balance and exchange. Given how widespread globalisation and international trade is in the modern world, it is important to consider how interactions with other national economies will affect the internal economy.

Macroeconomics Performance Indicators

(9 hours)
This course consists of two types of materials. The first type of materials concerns with how to **measure** the performance of the economy as a whole. The second type of materials concerns how to explain **why** a country underperforms in one or more of these aspects, and **what** can be done about it.

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