CO5125:03 ECONOMICS FOR MANAGERS

Brisbane Campus, Study Period 23, 2013

CO5125:03 ECONOMICS FOR MANAGERS

SUBJECT GUIDE 2013 Study Period 23, Brisbane Campus Contents
Contents .............................................................................................................................. 1 1. School Overview.............................................................................................................. 1 2. Subject at a Glance ......................................................................................................... 2 3. Subject Details................................................................................................................. 3 4. Subject Readings and Resources ................................................................................... 4 5. Assessment Details ......................................................................................................... 5 6. Student Assistance .......................................................................................................... 7 7. Important Policies & Guidelines ...................................................................................... 7 8. Postgraduate Skills & Qualities ....................................................................................... 9 9. Lecture & Tutorial Schedule .......................................................................................... 10

1. School Overview
The School of Business is at the forefront of innovation in business and information technology education. With a focus on internationalisation, growth and innovation, the school exploits its unique regional location and expertise in courses that combine discipline-based excellence with practical application. JCU aims to empower responsible managers with practical skills underpinned by cutting edge theory. The school is one of the largest schools at JCU in terms of student numbers and offers programs at Brisbane, Cairns, Singapore and Townsville. Graduate coursework degrees include the flagship program the Master of Business Administration (MBA), Master of Professional Accounting (MPA), Master of Economics (ME), and Master of International Tourism and Hospitality Management (MITHM). The school also includes Information Technology, offering a Master of IT (MIT and MIT Extended). Within the coursework masters suite of degrees there are opportunities for joint degree combinations. JCUs recently refreshed MBA is committed to an agenda of responsible management, in which all our activities are consistent with sustainable and ethical business practices. Across the four campuses, there are majors available in Marketing, Human Resource Management, Managerial Accounting, Dispute Resolution and International Tourism. Research degrees are also available at honours, masters, and Doctoral levels. Honours students from JCU have an outstanding record of gaining quality jobs in government and consulting circles and a number of students have won Australian Postgraduate Award scholarships and progressed into doctoral courses. There are a number of different pathways into the postgraduate study areas, with direct entry for those already holding an undergraduate degree. For those who do not have a first degree but have relevant work experience and professional experience, the pathway to postgraduate study starts with a Graduate Certificate, progresses through the Graduate Diploma, and reaches the Masters level and above by following these indirect entry strategies. Our staff are friendly and approachable and our degrees are designed to help you develop skills for application anywhere in the world in the dynamic business environment of the twenty-first century. A number of our staff have been recognised through independent rankings as world leaders in their field. School of Business staff have also recently won national awards for teaching excellence, and are committed to helping students achieve their career goals. JCUs School of Business is committed to working towards achi evement of genuine and sustainable reconciliation between Aboriginal and Torres Strait Islander peoples and the wider community, as outlined in the JCU Reconciliation Statement at <http://www-public.jcu.edu.au/study/indigenous-students/JCUPRD_039193

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Prepared by Taha Chaiechi & Gregory Trotman for the School of Business, James Cook University. Copyright 2013 This publication is copyright. Apart from any fair dealing for the purpose of private study, research, criticism, or review as permitted under the Copyright Act, no part may be reproduced by any process or placed in computer memory without written permission. This subject guide was last revised on 18 November, 2013 .

School of Business Subject Guide

2. Subject at a Glance
The following summary provides a quick reference to the most important aspects of this subject. Please ensure that you have read the entire guide in full.

Staff Contact Details

The following staff members are responsible for the preparation or delivery of this subject. Please contact the relevant staff member if you have any concerns during the study period. Name Lecturer
Subject Coordinator

Room Level 6

Phone x7868
47815890

Emails Gregory.trotman@jcub.edu.au
zhangyue.zhou@jcu.edu.au

Consultations* Wed: 12-1pm Thur: 3-4pm

Not applicable

Gregory Trotman
Prof. Zhangyue Zhou

27-216 Townsville

* Other consultation times by email appointment only.

Class Times
A 3 credit point subject will require a 130 hour workload of study-related participation over the duration of the study period irrespective of mode of delivery. Students enrolled in CO5125 should attend the four hours of contact time set aside for each session.
Time Lecture/Tutorial/Seminar Lecture/Tutorial/Seminar Final Exam 9.00am to 1.00pm 5.00pm to 9.00pm End of Trimester Exam Period, 17-28 Feb, 2014 Day Mondays Thursdays To be advised Room 802/803 501

Assessment Summary A summary of the assessable items for CO5125 is provided in the table below. Please read through the assessment details presented later in this subject guide.
Supervised Individual Assessment x x

Assessment

Weight

Due Date

1. Mid-Term Exam 2. Final Exam 3. Assignment

35% 35% 30%

Week 6 in class Exam Period, 17-28 Feb, 2014, tba 9am, Tuesday, 28 Jan, 2014

You are not required to satisfy the examiners in all assessment tasks but you must obtain a final mark of at least 50% to pass the subject. In addition, you must obtain at least an average of 50% over all supervised individual components within a subject to pass the subject overall. No individual assessment piece should be taken as an indication of your final grade. Raw marks may be subject to moderation or scaling. To be eligible to pass this subject, participants are required to attempt all forms of assessment and must demonstrate a reasonable degree of competence in the required subject learning outcomes as examined in each form of assessment.

School of Business Subject Guide

3. Subject Details
Welcome from the Subject Coordinator
Welcome to CO5125:03 Economics for Managers. We hope that you enjoy this subject; that it will give you a better understanding of business and social issues; and that it will lead you on a journey of discovery that will make you a better professional and a better citizen. This is an introductory subject in economics that covers fundamental concepts and ideas in economics that are relevant to those in private enterprise. After providing a brief overview of key concepts, this subject discusses: the microeconomic environment in which a business operators; the microeconomics of a business (focusing on costs, prices and strategic behaviour); the global economy and the macroeconomic environment in which a business operates.

Subject Description
This subject introduces managers to relevant concepts in Macroeconomics and Microeconomics and develops understanding of the various economic interrelationships, both domestic and international , which will help them to reach informed business decisions. The subject introduces the economic principle of demand and supply which builds a foundation to understanding topics such as market forces, externalities, the environment, competition, trade, pricing practices, government policy, economic growth, and globalisation.

Subject Learning Outcomes

As a student it is important for you to understand how the learning outcomes identified by the subject coordinator are achieved throughout the subject. The following table shows the alignment between content, assessment and learning outcomes.
Subject Learning Outcomes Related Content / Assessment Lectures and Tutorials Lectures, Tutorials and Assignment Lectures, Tutorials and Assignment

1. Demonstrate an understanding of concepts and analyses in

microeconomics and macroeconomics

2. Apply these concepts to contemporary microeconomic and

macroeconomic problems in business and government

3. Understand current economic issues and their probable impact on

business and government

These are the learning outcomes for the subject. Specific learning outcomes for each assessment item will be provided with the detailed assessment item.

Approaches to Teaching and Learning in this Subject

This subject uses a combination of approaches to teaching and learning, including both student centred and teacher-directed approaches. The content of the subject is disseminated using a variety of teaching strategies. At the beginning of each Seminar, students will be made aware of the expected learning outcomes, how such outcomes are relevant to the real world issues, and the resources that support the learning outcomes of this subject. Seminar lecture elements are designed to introduce you to basic concepts, principles, and theories of Economics and to demonstrate how they can be related to real-world situations. Seminar tutorial elements are designed to further consolidate and widen the knowledge you have learnt from the lectures. In tutorials, various teaching-learning activities will be carried out. Typically, we will do some exercises and discuss any issues and questions you may have from your study. It is important for you to realise that the formal teaching only forms a small part of the time required to achieve the learning outcomes set for this subject, and that you need to allocate sufficient time to study this subject on your own. You should not assume that attending lectures and tutorials is a substitute for reading the text and other assigned references. Lectures and tutorials are mainly used to highlight some key aspects of the subject and therefore extensive after-class reading and exercises are very important. Students are expected to be active participants in all the learning process and will be expected to participate in all activities.

School of Business Subject Guide

4. Subject Readings and Resources

Prescribed Texts

Sexton, R.L. (2013), Exploring Economics, 6th ed, South-Western Cengage Learning, Mason, Ohio. (Compulsory)
Keat, P. G., and Young, P. K., (2009), Managerial Economics: Economic Tools for Todays Decision makers, 6th Edition, Prentice Hall, Australia*. Blanchard, O. and J. Sheen, (2009), Macroeconomics, Australasian Edition, 3rd edition, Pearson Education Australia*. Further Reading It is recommended that students frequently visit the students Companion Website of Sexton. This will allow them to access interactive resources that provide exam preparation and help students get the most from their Economics subject. Students can test their understanding of chapters concept with interactive quizzes that provides instant feedback with correct answers. Other useful materials are as follows:
Barsky, R.B. and Kilian, L. (2004), Oil and the macroeconomy since the 1970s, Journal of Economic Perspectives 18(4), pp.11534. Blanchard, O. and Sheen, J. (2009), Macroeconomics, Australasian Edition, 3rd edition, Pearson Education Australia. Bosworth, B. and Collins, S.M. (2008), Accounting for growth: comparing China and India, Journal of Economic Perspectives 22(1), pp. 4566. Brickley, J.A., Smith, C.W. and Zimmerman, J.L. (2004), Managerial Economics and Organizational Architecture, 3rd edn, McGrawHill. Chari, V.V. and Kehoe, P.J. (2006), Modern macroeconomics in practice: How theory is shaping policy, Journal of Economic Perspectives 20(4), pp.328. Dornbusch, R., Fischer, S. and Startz, R. (2008), Macroeconomics, 10th edition, McGraw-Hill. Keat, P.G. and Young, P.K. (2009), Managerial Economics: Economic Tools for Todays Decision Makers, 6th edn, Prentice Hall, Australia. Lipczynski, J. and Wilson, J. (2004), The Economics of Business Strategy, Pearson. Mankiw, N.G. (2006), The Macroeconomist as scientist and engineer, Journal of Economic Perspectives 20(4), pp. 2946. Available at http://ideas.repec.org/a/aea/jecper/v20y2006i4p29-46.html. Zarnowitz, V. (1999), Theory and history behind business cycles: Are the 1990s the onset of a golden age? Journal of Economic Perspectives 13(2), pp.6990. The Australian Business with The Wall Street Journal: The Australian Financial Review: The Economist: http://www.theaustralian.com.au/business

http://www.afr.com

http://www.economist.com/

Subject Website on LearnJCU

Access the subject website through LearnJCU at learnjcu.jcu.edu.au for all relevant materials. Login using your JCU email username and password. The site for this subject is opened to all participants enrolled in the subject at least seven days prior to the commencement of the subject. Browser requirements for LearnJCU are provided on the opening webpage of LearnJCU.
School of Business Subject Guide 4

5. Assessment Details
Assessment Item 1: Mid-term Exam (35%, 120 minutes - supervised)
This mid-trimester test will be made up of 25 multiple-choice questions (2 marks each, 50 marks total); and 5 short answer questions or problems (50 marks total; all 5 questions/problems are compulsory). The test covers all material discussed during the first half of the subject. The best way to prepare for this test is to (a) review all of the work from relevant chapters; (b) review all of the exercises; and (c) attempt the multiplechoice questions for each chapter which are available from the textbooks website. It will be held in Week 6 in class.

Assessment Item 2: Final Exam (35%, 120 minutes supervised)

This test is held during the End of Trimester Exam Period and will be made up of 25 multiple-choice questions (2 marks each, 50 marks total); and 5 short answer questions or problems (50 marks total; all 5 questions/problems are compulsory). The test covers all material discussed during the second half of the subject. Preparation for this test should be the same as for mid-term exam.

Assessment Item 3: Assignment (30% - non supervised)

In groups of up to three (3) members you are to undertake an economic analysis of a firm, its market and the industry and economic environment in which it operates. Assignment Task: Select a business from anywhere in the world and then: 1) Provide an overall description of the business and the competitive environment in which it operates. You should describe: a) what type of business it is (e.g. retail, manufacturing); b) what the business produces or sells; c) who the main customers are (e.g. other businesses, government departments, young girls, older men); d) where most of the customers are located (e.g. in Townsville, Jakarta, or on the net); e) who the main competitors are (i.e. those producing similar products, and selling to similar customer base); f) where the competitors are located; and g) the (approximate) market share of key competitors including your business (e.g. your businesses has approximately 10% of the market, your main competitor has approximately 50% of the market, and may other small businesses share the remaining 40% of the market); Given the above information, comment on whether or not you think the competitive environment in which the firm operates is likely to be closer to (a) perfect competition; or (b) monopoly. Comment also on the number of close substitutes for your business products, and the cost of your product relative to average income of your customers. Does this mean that the demand curve facing the firm is likely to be relatively elastic or relatively inelastic? What does this imply about the ability of the firm to mark up its price above marginal cost? 2) Provide a description of the required factors of production, grouping them according to whether the factors of production are: a) Fixed and hence unlikely to vary much according to the quantity of goods sold (e.g. overheads); or b) Variable and hence likely to increase with increased production. Use the above information to comment on the likely overall cost structure of your business. For example: Are fixed costs large or small relative to variable costs? Does this mean that the firms optimal size is likely to be small, medium or large? 3) Provide a description of the macroeconomic environment in which the business operates noting: a) The overall stability of the political system/government of the country in which the business operates. b) The general level of inflation, unemployment and average interest rate of the country in which the business is physically located (and also the countries in which most customers live if different from
5 School of Business Subject Guide

the location of the firm). Also discuss any recent changes in those variables. Does the economy seem to be in a recession, boom or otherwise? c) If your business exports its products to other countries, provide some information about the (currency) exchange rate, discussing its current level, and recent changes in it. Use the above information to comment on whether or not the overall macroeconomic conditions faced by the firm are likely to become more or less favourable over the coming years. In this section you should consider such things as: a) Whether your main products are likely to be normal or inferior and hence whether demand is likely to rise or fall during recessions and thus whether the economic climate of the countries in which most of your customers live is likely to reflect well or poorly on your sales. b) Whether you are likely to face problems getting access to key factors of production (e.g. are there skills shortages?), and whether this is likely to affect the businesses future operating costs. c) If your business exports its products OR if imports factors of productionwhether recent trends in exchange rates are likely to be good or bad for costs and/or revenues. Word limit: 3000

Submitting your work on time

The ability to adhere to deadlines is a key feature of any competent professional. It is always a good idea to try to complete a task in advance of the actual due date. In this subject the policy for assignment submission is: 1) The due dates for assessable assignments must be met. 2) The material to be handed in should be uploaded to the Safe Assignment drop box for the subject by specified time and date. 3) Extensions will only be granted in cases of: illness (detailed medical certificate required); or inescapable, unexpected, documented work or business commitments at short notice. 4) In the absence of any extension, late submission of work will result in a penalty of 10% of the possible mark for each day late.

School of Business Subject Guide

6. Student Assistance
Studying at university typically involves many challenges. You may experience academic, professional or personal situations that are difficult to deal with. However, there are many options for you to pursue including academic advisers, counsellors or study skills advisers. The table below summarises support available and who to contact. If you have any concerns please talk to someone!
Support Needed Information for Current Students Computers, IT, Library and Email Equity and diversity Employment Enrolment Exams Financial Personal / Emotional Support Library General Study Skills Learning Skills / Language Help Who to Contact www.jcu.edu.au/student/ Infohelp http://www-public.jcu.edu.au/libcomp/assist/infohelp/JCUPRD_033554 OR Student Resource Centre, Level 2 http://www.jcu.edu.au/studentequity/ Joblinx located on Ground Floor Student Administration Office on Ground Floor www.jcu.edu.au/student/assessment/ Finance Officer Ground Floor Counselling Service Level 8 Language and Learning Centre Student Resource Centre Level 2 Student Resource Centre Level 2 Language & Learning Centre Room 801, Level 8

Equity Statement
James Cook University is committed to encouraging equity and diversity. In particular, JCU aims to provide an optimal learning environment to students from a variety of backgrounds: Aboriginal and Torres Strait Islander students People from rural and isolated areas People from low socio-economic backgrounds People with disabilities People from non-English speaking backgrounds. Information relating to services is available at www.jcu.edu.au/studentequity or by free call 1800 300 064.

7. Important Policies & Guidelines

The Endeavour: A Quality Learning Manual for Students
The School of Business has developed a quality learning manual for students to assist you with your study. The Endeavour includes background information about JCU and the School of Business, student services and resources, school policies, procedures and guidelines and advice about assessment. The manual provides detailed guides about plagiarism, referencing, essay writing, report writing, case study analysis and oral presentations. The Endeavour is available free to students at: www.jcu.edu.au/business/JCUDEV_011380.html The Endeavour can also be purchased in hard copy, on a cost recovery basis, from the University Bookshop.

Assessment Policies
There are a number of assessment policies that you should be aware of as a student of JCU. The most important policy is the universitys Assessment Practices Policy, which specifies the requirements of assessment practice for undergraduate and postgraduate coursework subjects. This policy can be accessed from: http://www.jcu.edu.au/policy/teaching/coursemanagement/JCUDEV_016741.html You should also be familiar with the policies and procedures that relate to your right of access to assessment marks and materials and the request for review of assessment. These rights are detailed in the Review of Assessment and Student Access to Scripts and Materials policy which can be viewed at: http://www.jcu.edu.au/policy/teaching/coursemanagement/JCUDEV_005333.html

Referencing and Plagiarism

Plagiarism occurs when writers claim ownership of written words or ideas that are not their own. Plagiarism is a form of cheating and any instances of plagiarism will be dealt with promptly according to University procedures. Instances of student academic misconduct are handled using a four stage procedure:
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Stage 1: Referral of the allegation; Stage 2: Preliminary investigation; Stage 3: Hearing; Stage 4: Appeal. If plagiarism is detected, the lecturer will immediately notify the Head of School in writing. The Head of School is then responsible for further actions, and will notify you of their decisions about the penalties. Working together, discussing ideas, or helping one another with references is fine. However, the piece of work that you finally submit for assessment must be your own. It should contain your ideas and your assessment of other people's ideas, and be written in your own words. Students who are found guilty of plagiarism will be subject to the provisions of the Student Academic Misconduct Requirements which can be accessed from: http://www.jcu.edu.au/policy/teaching/coursemanagement/JCUDEV_005375.html It is important that you reference your work correctly. The Endeavour discusses plagiarism and provides examples of appropriate ways to reference your work. In the School of Business different disciplines may require different ways of referencing your sources, but in general most subjects within the school will use the APA (American Psychological Association) Style. Please confirm this with your lecturer.

Submitting Written Assignments

Unless advised otherwise by the subject coordinator, all written assignments must use the standard School of Business coversheet and all authors must sign this coversheet. A copy of the cover sheet is available online at: www.jcu.edu.au/business/JCUDEV_011380.html Please note that some lecturers may have specific assignment requirements and it is your responsibility to check these with your lecturer. For more guidelines about assignment submission, deadlines and extensions, please refer to The Endeavour: www.jcu.edu.au/business/JCUDEV_011380.html

Penalties for late submission of assignments

In the absence of any extension, late submission of work will result in a penalty of 5% of the possible mark for each day late. For example, If you are awarded a mark of 71% for a 30% essay that is handed in 4 days late, your final mark will be 51% of 30, which is 15.3. Weekends are treated as a single full day because university buildings are not usually accessible of over the weekend to allow for submission.

Supplementary and Deferred Exams

If you are unable to sit your examination at the scheduled times due to extenuating circumstances (e.g. medical, trauma, death in the family etc) you may apply to sit a deferred examination. The Head of School has the right to decline an application if they consider the reasons are less than exceptional. Alternately, applying for special consideration is recommended in situations where you feel that your preparation has been/or is adversely affected by certain circumstances before and up to the day of the exam. In this situation you still need to sit the exam on the scheduled day. Special consideration (if approved) means that the lecturer will consider your circumstances when marking your examination. In some cases, you might be awarded the opportunity to complete a supplementary exam. This will be indicated by an NS grade on semester results. A supplementary exam cannot be applied for, it is granted at the discretion of the examiner. A supplementary result is based exclusively on the result of the supplementary exam and previous assessment is not included in a recalculation of the students result. In accordance with University policy, a student who has completed a supplementary exam can only receive a grade of SP (supplementary passed), SN (supplementary failed) or an SX (failed to sit supplementary). For more information please see: http://www.jcu.edu.au/policy/teaching/coursemanagement/JCUDEV_005344.html

Subject and Teaching Evaluations

Student feedback is one way of gaining recognition of subject and teaching strengths, and provides information on areas that may need further development or change. James Cook University provides a mechanism for you to provide feedback about your subjects and instructors at the end of the teaching period. You are strongly encouraged to provide feedback for each of your subjects.

School of Business Subject Guide

8. Postgraduate Skills & Qualities

Postgraduate attributes are the skills and qualities that every student should have when they leave the University irrespective of the qualification they have attained. These skills are often the same competencies that employers expect from graduates. You will not attain all of the JCU postgraduate qualities in this subject because these skills will be developed over the full the length of your degree in various subjects. The table below indicates how the content and assessment in this subject fosters the development of JCUs postgraduate attributes.

Graduate Skills Literacy and Numeracy 1.1 the ability to read complex and demanding texts accurately, critically and insightfully 1.2 the ability to speak and write clearly, coherently and creatively 1.3 the ability to generate, calculate, interpret and communicate numerical information in ways appropriate to a given discipline or discourse Information Literacy 2.1 the ability to find and access information using appropriate media and technologies 2.2 the ability to evaluate that information 2.3 an understanding of the economic, legal, ethical, social and cultural issues involved in the use of information 2.4 the ability to select and organise information and to communicate it accurately, cogently, coherently, creatively and ethically Critical judgement and research skills 3.1 Ability to engage effectively in the disciplines philosophy of enquiry and discourses 3.2 understanding and developing concepts, 3.3 analysing and synthesising information or data from a variety of sources, Self Reliance and Interpersonal Understanding 4.1 the ability to communicate effectively with a range of audiences 4.2 the ability to lead, manage and contribute effectively to teams 4.3 the ability to work with people of different gender, age, ethnicity, culture, religion and political persuasion 4.4 the ability to work individually and independently Using Tools and Technologies 5.1 the ability to select and use appropriate tools and technologies 5.2 the ability to use online technologies effectively and ethically Independence, creativity and learning 6.1 Ability to apply existing skills and knowledge to identify and formulate new problems, 6.2 Ability to develop inventive solutions, demonstrating flexibility and resourcefulness,

Related Content / Assessment

Exam , Assignment Exam, Assignment Lectures and tutorials

Lectures and tutorials Exam and Assignment Lectures and tutorials Assignment

Tutorials and Assignment Assignment Assignment

Assignment Assignment Assignment

Assignment Assignment

Lectures and tutorials Tutorials

School of Business Subject Guide

9. Lecture & Tutorial Schedule

Week/Day
Week 1 21 Nov

Topics and Readings *

Module 1: Introduction / Overview
Ch 1. The Role and Method of Economics. Ch 2. Economics: Eight Powerful Ideas. Ch 3. Scarcity, Trade-Off, and Production Possibilities.

Tutorials and assessments

Tutorial 1, Exercises and Exams

Module 2: The Microeconomic Environment Week 2 28 Nov Week 3 5 Dec Week 4 12 Dec
Ch 4. Demand, Supply and Market Equilibrium. Ch 5. Markets in Motion and Price Controls. Ch 6. Elasticity Ch 7. Market Efficiency and Welfare. Ch 8. Market Failure.

Tutorial 2, Exercises and Exams

Tutorial 3, Exercises, and Exams

Module 3: The Microeconomics of Business

Ch 11. The Firm: Production and Cost. Ch 12. Firms in Perfectly Competitive Markets. Ch 13. Monopoly and Antitrust. Ch 14. Monopolistic Competition and Product Differentiation. Ch 15. Oligopoly and Strategic Behaviour

Tutorial 4, Exercises and Exams

Week 5 17 Dec

Tutorial 5, Exercises and Exams Tutorial 6, Exercises and Exams

Module 4: The Global Economy

Ch 28. International Trade. Ch 29. International Finance.

23 Dec to 3 Jan Week 6 9 Jan Week 7 16 Jan Week 8 23 Jan Week 9 28 Jan Week 9 30 Jan Week 10 6 Feb 10 Feb to 14 Feb 17 Feb to 28 Feb

Mid-trimester Lecture Recess

Mid-term Exam - 5.30pm to 7.40pm - Room 501 Module 5: Macroeconomic Foundations

Ch 18. Introduction of Macroeconomics: Unemployment, Inflation, and Economic Fluctuations. Ch 19. Measuring Economic Performance. Ch 20. Economic Growth in the Global Economy. Ch 21. Financial Markets, Savings, and Investment. Assessment Item 3: Report due 9am, Tuesday, 28 Jan. Via SafeAssign dropbox in LearnJCU

Modules 1 to 3

Tutorial 7, Exercises and Exams

Tutorial 8, Exercises and Exams

Module 6: Macroeconomic Policy

Ch 22. Aggregate Demand and Aggregate Supply. Ch 24. Fiscal Policy. Ch 25. Monetary Institutions. Ch 26. The Federal Reserve System and Monetary Policy. Ch 27. Issues in Macroeconomic Theory and Policy.

Tutorial 9, Exercises and Exams

Tutorial 10, Exercises and Exams

SWOT VAC Final Exam (to be advised) Modules 4 to 6

* The sequence of some topics may change due to availability of staff, resources or due to unforeseen circumstances.

School of Business Subject Guide

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