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This course introduces students to the macro economy and how it evolved to where it is today. We examine economic variables and how rises and falls in these variables affect people and businesses. We investigate how government policies, decisions by households and firms, and changes in the world economy affect inflation, exchange rates, interest rates, unemployment, growth, poverty and inequality and other economic outcomes we care about.
ECON105 will challenge your views of how you see the world. You will read the newspaper, watch the news and listen to economic and political commentators in a different way than you used to. Maybe you will even read the newspaper, watch the news and listen to economic and political commentators for the very first time because you have discovered there is some interesting stuff there.ECON105 will help shed light on some important real-world questions. Questions like:• What is so bad about inflation?• Why do we care what the Governor of the Reserve Bank says?• Which is better – a high or low exchange rate?• What does the government do and what should it be doing?• Do tax cuts only benefit the rich and, if so, is that fair?• What makes for a good taxation system?• Why is economic growth so important or is it?• Is society becoming more or less equal and does it matter?• What is the best way to help the world’s poorest?To put these questions into some context we will also spend a bit of time looking at what the NZ economy looks like – where it has come from; the ideas that have influenced our economic history; our growth and inflation record compared to other countries; and recent changes and important pieces of legislation.ECON105 serves as a prerequisite for ECON206 (Intermediate Macroeconomics) which is a compulsory subject for students majoring in economics. ECON105 is also required by NZICA.
1. demonstrate an understanding of the contemporary world economy and how it differs from past periods of time.2. discuss the measurement of economic variables and how rises and falls in these variables impact on people.3. explain the reasons for and consequences of Reserve Bank actions.4. identify and explain changes in policy settings and analyse the effects of policy changes on economic outcomes that matter to people.
This course will provide students with an opportunity to develop the Graduate Attributes specified below:
Critically competent in a core academic discipline of their award
Students know and can critically evaluate and, where applicable, apply this knowledge to topics/issues within their majoring subject.
Stephen Hickson
Hickson,S; The New Zealand Economy. What we measure and what it means ; Second edition; Pearson, 2018 (Still in publication phase (11/1/2018)).
Parkin, M., & Bade, R; Macroeconomics ; Pearson, 2016.
Domestic fee $790.00
International fee $3,350.00
* All fees are inclusive of NZ GST or any equivalent overseas tax, and do not include any programme level discount or additional course-related expenses.
For further information see Department of Economics and Finance .