General Course Information

Course Details & Outcomes

Course Description

Course Aims

The aim of this course is to provide you with a broad overview of the aggregate economy. 

Macroeconomics 1 is a prerequisite for all upper-year macroeconomics courses and many other upper-level economics courses offered by the School of Economics (i.e., those with course codes beginning with 2 or 3). In addition, the concepts, models, and approaches developed in Microeconomics 1 and Macroeconomics 1 provide a foundation for business studies in accounting, finance, marketing and management.

No previous study of economics is assumed.

Relationship to Other Courses

Course Learning Outcomes

Learning and Teaching Technologies

Learning and Teaching in this course

Teaching and Learning Approach

The course fosters a climate of inquiry and constructive dialogue between students and instructors, as well as among peers, both during and outside of class. Lecturers and tutors are committed to providing timely and meaningful feedback to support student progress. With structured guidance, students are expected to take increasing responsibility for their own learning and to actively participate in the learning process.

Learning Activities and Teaching Strategies

Lectures

Lecture recordings will be made available shortly after each session to support flexible review and revision.

Tutorials

Each tutorial will include discussion of weekly problem sets and periodic data exercises. These data exercises involve applying macroeconomic concepts to real-world economic data, giving students the opportunity to analyse current macroeconomic issues. Students must bring a laptop to complete and submit these exercises during the tutorial.

In addition, two in-session tests will be held during tutorials in Weeks 5 and 9.

Alternative arrangements will be made for students whose tutorials fall on public holidays.

Tutorial Questions

Solutions to tutorial questions will be posted on the course website at the end of each week.

Data Exercises

Data will be made available in advance, questions for the data exercises will be made available by tutors during the tutorial.

Playconomics

PASS: Peer-Assisted Study Sessions

Out-of-Class Study

• Pre-lecture reading of the relevant textbook chapter(s) and any additional materials to develop a broad understanding of the topic.
• Active participation in lectures, asking and answering questions, taking notes in class and reviewing key concepts after class.
• Completion of tutorial questions prior to tutorials to assess your understanding and identify areas needing clarification.
• Regular review of material, using quizzes, data exercises, and tutorial discussion to reinforce learning.

Students are encouraged to take ownership of their learning and make consistent efforts throughout the term to build their understanding of macroeconomic theory and its applications.

Assessments

Assessment Structure

Assessment Details

Students will complete a weekly data exercise during tutorials, requiring them to graph and interpret recent macroeconomic data. This assessment reinforces key concepts and provides real-world applications of macroeconomic analysis. It also offers students timely feedback on their understanding of the material covered in Macroeconomics 1.

Students will complete Data Exercises in class during their tutorial sessions and submit their work at the end of the tutorial.

The Data Exercise in Week 2 is a practice activity aimed at helping students develop skills in interpreting macroeconomic data and is not assessed.

Assessed Data Exercises will take place in Weeks 3, 4, 7, 8, and 10. These are completed during the tutorial and must be submitted before leaving the class. The final Data Exercise mark will be based on the best 4 out of 5 submissions, allowing students to miss one assessed exercise without penalty. Each assessed exercise contributes equally to the total Data Exercise grade, which accounts for 10% of the final course mark.

Students must bring a laptop to class to complete and submit the exercise.

For students whose tutorials fall on a public holiday, special submission arrangements will be made and announced.

Assignment submission Turnitin type

No Assistance

This assessment is designed for you to complete without the use of any generative AI. You are not permitted to use any generative AI tools, software or service to search for or generate information or answers.

For more information on Generative AI and permitted use please see here.

There will be two in-session quizzes, held during tutorials in Weeks 5 and 9. These quizzes will be administered in person during your scheduled tutorial time.

Students may bring up to 10 pages of notes (single- or double-sided), stapled together. Only non programmable calculators are allowed. Smartphones, laptops, or other electronic devices are not permitted during the quizzes.

No supplementary quizzes will be offered. Students are expected to attend and complete thequizzes as scheduled. The higher of the two quiz marks will be used to calculate the final quiz grade. Missing a quiz without approved special consideration will result in a mark of zero. If special consideration is granted, the weight of the missed quiz will be transferred to the final exam. There will be no supplementary quizzes.

Submission notes

Not Applicable

This assessment is designed for you to complete without the use of any generative AI. You are not permitted to use any generative AI tools, software or service to search for or generate information or answers.

For more information on Generative AI and permitted use please see here.

Students will apply key concepts from Macroeconomics 1 by interpreting macroeconomic dataand responding to short-answer questions. This assessment tests their ability to analyze data, apply theoretical frameworks, and demonstrate understanding of course material covered in lectures and tutorials.

Detailed Assessment Description

This assignment is submitted through Turnitin and students do not see Turnitin similarity reports.

No Assistance

This assessment is designed for you to complete without the use of any generative AI. You are not permitted to use any generative AI tools, software or service to search for or generate information or answers.

The final exam evaluates students' understanding of key macroeconomic concepts and models covered in the course. It assesses their ability to apply these frameworks to analyze and interpret macroeconomic issues. The exam will be comprehensive, covering material from the entire course, and will take place during the University’s examination period.

Detailed Assessment Description

Generative AI Permission Level

This assessment is designed for you to complete without the use of any generative AI. You arenot permitted to use any generative AI tools, software or service to search for or generate information or answers.

For more information on Generative AI and permitted use please see here.

Use of AI tools is strictly prohibited.

General Assessment Information

Course Schedule

Attendance Requirements

Course Resources

Prescribed Resources

The Macroeconomics 1 Moodle site can be accessed at http://moodle.telt.unsw.edu.au. The site contains key course materials, including the course outline, lecture slides, links to lecture recordings, tutorial questions and solutions, in-term grades, textbook access information, and important announcements. Students are expected to check the Moodle site at least once per week. It will be assumed that all students have read any notices posted there.

Otto, G. (2017), Introduction to Macroeconomics (e-book), Lionsheart.

This textbook has been developed specifically for this course. Examinable content is defined by the material covered in lectures, tutorials, and the multiple-choice quizzes. The textbook is accessible through Playconomics.

Instructions for accessing Playconomics are available on the ECON1102 Moodle site.

The following macroeconomics textbooks, available through the UNSW Library, may be useful for supplementary reading:

• Bernanke, B.S., Olekalns, N., & Frank, H.R. (2014). Principles of Macroeconomics (4th ed.), McGraw-Hill.
• Holden, R., Stevenson, B., & Wolfers, J. (2023). Principles of Macroeconomics – Australia/New Zealand Edition (1st ed.). Macmillan Learning
• Littleboy, B., Taylor, J., & Weerapana, A. (2015). Macroeconomics: Principles and Practice, Cengage Learning Australia. 
• Stiglitz, J., Walsh, C.E., Guest, R., & Tani, M. (2014). Introductory Macroeconomics, John Wiley.

Recommended Resources

All enrolled students can get the Microsoft Office 365 suite for free. Here: https://www.unsw.edu.au/myit/services/software-applications/microsoft-office-365.

Students with no prior Excel experience may consider a self-guided training.

Course Evaluation and Development

Student Feedback and Course Improvement

Feedback from students is regularly sought and used to improve Macroeconomics 1. At the end of the term, you will be invited to complete the myExperience survey—an important opportunity to share your views. Your feedback is highly valued and contributes directly to enhancing the quality of teaching and learning in this course.

The School of Economics is committed to acting on student feedback. For further information about how student input has shaped the design and delivery of this course over time, please contact the School’s Director of Education.

In past evaluations, students highlighted the course's engaging content, thought-provoking nature, and enthusiastic teaching staff. 89% of students found the course both challenging and interesting, and 94% agreed that the teaching methods and activities effectively supported their learning.

Consent for De-Identified Data to be Used for Secondary Research into Improving Student Experience

Providing consent for your de-identified data to be used in academic research is voluntary and not doing so will not have an impact on your course grades.

Researchers who want to access your de-identified data for future research projects will need to submit individual UNSW Ethics Applications for approval before they can access your data.