MAE203: The Global Economy - at Deakin University

This intermediate-level Macroeconomics unit builds on the principles of Macroeconomics taught in MAE101. This unit covers important macroeconomics topics, such as business cycles, stabilisation policy, economic recession, the natural rate of unemployment, persistent inflation, and the effects of government debt on the economy. The unit starts with Robert Solow’s Nobel prize-winning model that explains economic growth and economic inequality across countries. You will then be gradually introduced to the macroeconomic framework to understand the temporal shifts in GDP, unemployment, and prices and the policies to manage these fluctuations in line with major schools of thought, such as Keynesian way of thinking. Finally, you will learn about applications of this macroeconomic framework to different exchange rate markets. In this unit, case studies will be used to enhance your understanding of recent developments in the global economy, such as the debt and financial crises, global recession, mining and resources boom, the Covid-19 pandemic, rising inflation worldwide, and the housing market crises. Upon completing this unit, you will have understood the macroeconomic foundations of poverty, inequality, unemployment, and sustainable economic development.

✔ At the completion of this unit, successful students can:

• Describe and apply key macroeconomic concepts in a global context.

• Use suitable macroeconomic models to critically analyse long-run growth and short-run economic fluctuations.

• Critically analyse the role of monetary and fiscal policies in an economy and provide appropriate recommendations or solutions.

UNIT CODE

UNIT NAME

MAA103

Accounting for Decision Making

MAA261

Financial Accounting

MAA262

Management Accounting

MAA363

Corporate Accounting

MAE101

Economic Principles

MAE201

Competition and Industry

MAE203

The Global Economy

MAF101

Fundamentals of Finance

MAF202

Banking and Financial Institutions

MAF203

Business Finance

MAF307

Equities and Investment Analysis

MAF308

Financial Derivatives and Risk Management

MIS171

Business Analytics

MLC101

Law for Commerce

MLC301

Principles of Income Tax Law

MMK101

Marketing Fundamentals

MMM132

Management