Fundamentals of Macroeconomics

In this unit, students will be introduced to the fundamental principles and key concepts of macroeconomics—the branch of economics concerned with the behaviour and performance of the whole economy. They will explore the purpose and nature of economic activity, as well as the key economic indicators that influence individuals, businesses, and markets both in Australia and globally.
A focus will be placed on the role and objectives of the Australian Government, both domestically and in the international context. Students will examine key domestic economic indicators, including low inflation, full employment, and sustainable economic growth. They will also explore Australia’s international economic relationships, with an emphasis on the exchange rate and trade liberalisation.The unit will introduce students to government policy, including fiscal, monetary, and international policy tools. Students will analyse how these policies influence aggregate demand and aggregate supply, and their broader impact on the Australian economy.