UNIVERSITY OF WOLLONGONG

ECON205: Macroeconomic Theory and Policy

Final Examination Guide and Notes 2026

Part 01. Revision Notes

Part 02. Sample Final Examination Paper

Part 03. Suggested Solutions to Final Exam Paper

Part 04. Final Examination - Hints and Tips

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University of Wollongong - ECON205: Macroeconomic Theory and Policy (Solutions)

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ACADEMIC YEAR 2025 - 2026

University	University of Wollongong
Study Level	Undergraduate
Subject Code	ECON205
Subject Name	Macroeconomic Theory and Policy
Notes Title	Final Examination Guide and Notes
Page Length	78

Prepare for ECON205: Macroeconomic Theory and Policy at the University of Wollongong with a clear, up-to-date revision guide built for the final examination. Inside are syllabus-aligned notes, concise explanations, helpful diagrams, and sample exam papers with fully worked solutions so you practise under realistic conditions. Each section flags frequent mistakes and includes quick checks to keep revision focused. Use it alongside your study materials to test understanding, refine technique, and apply knowledge in the exam.

This subject analyses the major factors which determine economic behaviour in the aggregate and evaluate how alternative macroeconomic policies may improve economic performance. In doing so the course examines the major determinants of aggregate demand equilibrium, namely consumption and investment demands, international factors, money and interest. Monetary and fiscal policies are examined using this analytic structure to determine the effectiveness of these policies for an open economy. Aggregate supply equilibrium is analysed in terms of wages, prices and employment. The problems of inflation and employment are also considered along with possible wages policies. Longer term explanations of economic growth and associated policy prescriptions are also considered.

✔ Learning Outcomes:

On successful completion of this subject, students will be able to:

identify the important determinants of real output, interest rates, exchange rates, prices, and employment for a small open economy;
analyse monetary and fiscal policies and be able to evaluate their effectiveness;
analyse the problems associated with inflation and unemployment; and,
understand explanations of economic growth and policy prescriptions.

SUBJECT CODE	SUBJECT NAME
ACCY111	Accounting Fundamentals in Society
ACCY121	Accounting for Decision Making
ACCY200	Financial Accounting
ACCY201	Advanced Financial Accounting
ACCY211	Management Accounting
BUS 121	Statistics for Business
ECON100	Economic Essentials for Business
ECON205	Macroeconomic Theory and Policy
ECON215	Microeconomic Theory and Policy
ECON339	Applied Economic and Financial Modelling
FIN 111	Introductory Principles of Finance
FIN 222	Corporate Finance
FIN 223	Investment Analysis
FIN 226	Financial Markets and Institutions
FIN 322	Advanced Corporate Finance
LAW 101	Introduction to Law
MARK101	Marketing Principles
MGNT201	Organisational Behaviour
STAT101	Introduction to Statistics
STAT201	Random Variables and Estimation
STAT251	Fundamentals of Biostatistics
STAT332	Generalised Linear Models

TOVO.

University of Wollongong - ECON205: Macroeconomic Theory and Policy (Solutions)

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