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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!Like any other discipline there will be some terms and definitions that you will need to know in order to put some framework on your thinking. And, yes, there is some theory to learn. In any discipline worth studying at tertiary level there always is. Sometimes we will have to grind our way through a bit of this theory but it will be worth it because the theories we develop will help shed light on some important real world questions. Questions like:• Why does the NZ economy look the way it does today?• 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?• Governments, tax, spending and welfare – why do we argue about these?• Why is economic growth so important?• Is the narrative around globalisation changing?• 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 and global 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.
The objectives of the course are that you are able to: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 and the UN SDGs.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.
Students must attend one activity from each section.
Stephen Hickson
To pass this course you must not only achieve a final grade of 50% or higher, but also achieve a weighted average grade of at least 45% across all invigilated assessments.Assessment in Te Reo MāoriIn recognising that Te Reo Māori is an official language of New Zealand, the University provides for students who may wish to use Te Reo Māori in their assessment. If you intend to submit your work in Te Reo Māori you are required to do the following:Read the Assessment in Te Reo Māori Policy and ensure that you meet the conditions set out in the policy. This includes, but is not limited to, informing the Course Coordinator 1) no later than 10 working days after the commencement of the course that you wish to use Te Reo Māori and 2) at least 15 working days before each assessment due date that you wish to use Te Reo Māori.
There is no prescribed text for this course. Instead the videos available at Marginal Revolution University (MRU) will act as your textbook.
Domestic fee $893.00
International fee $4,200.00
* 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 .