Understanding the Australian economy: An introduction to macroeconomic and financial policies from Coursera

What's inside

Syllabus

The Australian economy in a nutshell

Welcome to the MOOC! This week we will take a whirlwind tour of the Australian economy. More specifically, we will examine Australia's economy according to four key macroeconomic variables: gross domestic product, unemployment rate, inflation rate and exchange rate. Also, this week we will step back in time for a short history of the exchange rate regimes in Australia. Through this journey, we will explore why our nation is currently in the era of floating exchange rates.

Monetary policy and the RBA

This week, we will drill down deeper into the heart of the Australian economy to explore monetary policy and the role of the central bank (the Reserve Bank of Australia, RBA) in stabilising and influencing the economy. First, we'll look at the transmission channels of monetary policy to see how the RBA can influence inflation and the level of activity in the economy. Next, we'll examine a simple but powerful framework to explain the RBA's stabilisation policies.

Fiscal policy in Australia

This week we will have a brief overview of fiscal policy in Australia. Fiscal policy is an important topic and is widely used by policymakers to influence economic fluctuations, both in the short and medium run. In this module we will discuss the primary objectives and functions of fiscal policy in our nation. We will then apply a (familiar) economic framework in order to analyse fiscal policy and its impact on the economy. Using this framework, we’ll analyse several actual past, past policy episodes in the Australian economy.

The 2007 - 2010s Global Financial Crisis

This week, we will investigate a momentous economic event: the 2007 Global Financial Crisis, or GFC. Here we’ll have a crash course on the crisis – its main causes and consequences, the subsequent policy responses by policymakers and regulators, as well as its particular impact on the Australian economy.

Good to know

Know what's good

, what to watch for

, and possible dealbreakers

Teaches about the Australian economy, which is of interest to those involved in the nation's economy or planning to enter

Develops foundational knowledge and professional skills for those interested in monetary policy, fiscal policy, and the global financial crisis

Taught by instructors with expertise in the Australian economy

Introduces monetary and fiscal policies as vital tools in shaping the Australian economy

Provides real-world examples and case studies to illustrate economic principles in the Australian context

Requires no prior knowledge in economics, making it accessible to a broader audience

Reviews summary

Economy insight into down under

Learners say this course on the Australian economy provides a comprehensive overview. It is considered well-organized and uses the 2007-2010 Global Financial Crisis (GFC) as a case study to bring the teachings to life with real examples. Reviews emphasize excellent teaching, engaging assignments, and useful information. While most learners recommend it, some suggest additional information on topics such as international trade could enhance the course.

The course is well-organized and structured.

"Myself , Jyoti Aggarwal just completed this course but have not received certificate yet. paid 59$ to get the certificate."

"It was a nice experience. Maybe could agregatte some information about international trade or markets un Australia intead of GFC."

"The course is very good!!!."

Professor is praised for their teaching style and knowledge.

"Excellent content and profesor"

"amazing teaching, it was fun learning."

"I've gained wide knowledge of the Australian economy from the professor."

The course uses the 2007-2010 GFC as a case study.

"Great overview of the Australian economy and the role of both monetary and fiscal policy."

"Using the GFC to bring the learnings to life with real examples was a great way to conclude the course."

"This course's module-4 focuses on the 2007-2010 GFC -- it is an interesting and enlightening part, not only providing knowledge on the causes and impacts of the GFC, also opinions, analysis and conclusions from perspectives of experts who were involved in the policy-making during the GFC."

Some learners suggest additional information on certain topics could enhance the course.

"It was a nice experience. Maybe could agregatte some information about international trade or markets un Australia intead of GFC."

"The course is very good!!!."

"Great course and explanatory videos, i rated it 4 stars because I also wanted more information about the main sources of revenues of the Australian economy, more details about the imports exports and room for future growth."

Activities

Be better prepared before your course. Deepen your understanding during and after it. Supplement your coursework and achieve mastery of the topics covered in Understanding the Australian economy: An introduction to macroeconomic and financial policies with these activities:

Review basic economic principles

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Strengthen foundational knowledge in economics to prepare for the course.

Browse courses on Supply and Demand

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Review textbooks
Complete online exercises
Attend preparatory webinars

Review and consolidate course materials

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Enhance retention and deepen understanding by regularly reviewing and compiling course materials.

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Annotate notes
Create summaries
Complete practice questions

Quiz on macroeconomic variables

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Practice applying macroeconomic concepts to real-world data.

Browse courses on Gross Domestic Product

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Attempt the quiz
Review incorrect answers

One other activity

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Show all four activities

Fiscal Policy Workshop

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Gain hands-on experience analyzing fiscal policy and its impact on the economy.

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Attend the workshop
Participate in group discussions
Present findings

Career center

Learners who complete Understanding the Australian economy: An introduction to macroeconomic and financial policies will develop knowledge and skills that may be useful to these careers:

Business Analyst

Business analysts help businesses improve their performance by analyzing data and identifying opportunities for improvement. This course may be useful in developing the skills needed to understand macroeconomic and financial policies, analyze financial data, and make informed business decisions.

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Data Analyst

Data analysts collect, analyze, and interpret data to help organizations make informed decisions. This course may be useful in developing the skills needed to understand macroeconomic and financial policies, analyze financial data, and identify trends and patterns.

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Financial Analyst

Financial analysts provide advice to businesses and individuals on investment decisions and financial planning. This course may be useful in developing the skills needed to understand macroeconomic and financial policies, analyze financial data, and make informed investment decisions.

See salaries and explore the career path for Financial Analyst

Risk Analyst

Risk analysts identify and assess risks to businesses and organizations, and develop strategies to mitigate those risks. This course may be useful in developing the skills needed to understand macroeconomic and financial policies, analyze risk factors, and make informed decisions.

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Consultant

Consultants provide expert advice to businesses and organizations on a variety of topics, including economics, finance, and management. This course may be useful in developing the skills needed to understand macroeconomic and financial policies, analyze financial data, and provide sound advice to clients.

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Professor

Professors teach and conduct research at colleges and universities. This course may be useful in developing the skills needed to understand macroeconomic and financial policies, conduct research, and share knowledge with students.

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Actuary

Actuaries analyze financial risks and develop solutions to manage those risks. This course may be useful in developing the skills needed to understand macroeconomic and financial policies, analyze financial data, and make informed risk management decisions.

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Investment Banker

Investment bankers help businesses raise capital and provide financial advice on mergers and acquisitions. This course may be useful in developing the skills needed to understand macroeconomic and financial policies, analyze financial data, and advise clients on investment decisions.

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Financial Planner

Financial planners help individuals and families manage their finances to achieve their financial goals. This course may be useful in developing the skills needed to understand macroeconomic and financial policies, analyze financial data, and provide sound financial advice.

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Policy Analyst

Policy analysts research and analyze public policy issues to inform policymakers on potential solutions. This course may be useful in developing the skills needed to understand macroeconomic and financial policies, analyze policy options, and make informed recommendations.

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Economist

Economists analyze economic data and develop forecasts to inform businesses, governments, and other organizations about economic trends and risks. This course may be useful in developing the skills needed to analyze economic data, understand macroeconomic and financial policies, and make informed decisions.

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Budget Analyst

Budget analysts develop and manage budgets for organizations, ensuring that financial resources are allocated efficiently and effectively. This course may be useful in developing the skills needed to understand macroeconomic and financial policies, analyze financial data, and make informed budget decisions.

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Market Research Analyst

Market research analysts study market trends and consumer behavior to help businesses make informed decisions about product development, marketing, and pricing. This course may be useful in developing the skills needed to analyze economic data, understand macroeconomic and financial policies, and identify market opportunities.

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Insurance Underwriter

Insurance underwriters assess and price insurance risks for individuals and businesses. This course may be useful in developing the skills needed to understand macroeconomic and financial policies, analyze financial data, and make informed underwriting decisions.

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Commercial Banker

Commercial bankers provide financial services to businesses, including lending, cash management, and trade finance. This course may be useful in developing the skills needed to understand macroeconomic and financial policies, analyze financial data, and build relationships with business clients.

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