BEA121 Economic Policy in Action expands upon the key microeconomic and macroeconomic concepts introduced in BEA111 Introduction to Markets and the Economy. The first module of the unit focusses on extending the macroeconomics in BEA111 to consider international trade, exchange rates and the balance of payments. It also examines conventional and unconventional monetary and fiscal macroeconomic policy options to promote economic growth and manage shocks during times of crisis. The second module of the unit focuses on how to measure the economic impact of a new business or entity and its impacts on the well-being of different members of society.
The unit extends the range of macroeconomic concepts that can be used to understand national account and balance of payments data; and how to investigate issues using the economic method; and to address issues of real importance to business and economic development and to communicate information in an effective manner.
BEA121 is the second of two foundation level economics units offered by the Tasmanian School of Business and Economics. Taken together with BEA111 Introduction to Markets and the Economy, BEA121 provides you with a comprehensive introduction to macroeconomic theory and policy and forms a strong foundation if you are planning to continue your study of economics.
BEA121 is a compulsory unit in the Bachelor of Economics (BEc) degree. It is also a compulsory unit in all the Economic majors offered by the Tasmanian School of Business and Economics and is a nominated elective in a wide range of other programs throughout the University of Tasmania.
|Unit name||Economic Policy in Action|
|College/School||College of Business & Economics
Tasmanian School of Business and Economics
|Coordinator||Doctor Paul Blacklow|
|Available as an elective?||No|
|Delivered By||University of Tasmania|
|Location||Study period||Attendance options||Available to|
- International students
- Domestic students
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Units are offered in attending mode unless otherwise indicated (that is attendance is required at the campus identified). A unit identified as offered by distance, that is there is no requirement for attendance, is identified with a nominal enrolment campus. A unit offered to both attending students and by distance from the same campus is identified as having both modes of study.
|Study Period||Start date||Census date||WW date||End date|
* The Final WW Date is the final date from which you can withdraw from the unit without academic penalty, however you will still incur a financial liability (refer to How do I withdraw from a unit? for more information).
Unit census dates currently displaying for 2023 are indicative and subject to change. Finalised census dates for 2023 will be available from the 1st October 2022. Note census date cutoff is 11.59pm AEST (AEDT during October to March).
- Define, measure and interpret key microeconomic and macroeconomic concepts.
- Apply basic microeconomic and macroeconomic models to describe the impact of global and local events, social change, government policy on markets, market participants and macroeconomy.
- Develop and critically evaluate basic microeconomic and macroeconomic policy and identify welfare implications for different members of society.
|Field of Education||Commencing Student Contribution 1||Grandfathered Student Contribution 1||Approved Pathway Course Student Contribution 2||Domestic Full Fee|
1 Please refer to more information on student contribution amounts.
2 Please refer to more information on eligibility and Approved Pathway courses.
3 Please refer to more information on eligibility for HECS-HELP.
4 Please refer to more information on eligibility for FEE-HELP.
Please note: international students should refer to What is an indicative Fee? to get an indicative course cost.
You cannot enrol in this unit as well as the following:XPD104
|Assessment||Weekly Quizzes (5%)|Workshop Presentation (10%)|National Economic Poll (15%)|Macroeconomic Assignment (35%)|Consultant Report (35%)|
|Timetable||View the lecture timetable | View the full unit timetable|
You will need the following text: Bernanke, BS, Olekalns, N & Frank, RH 2014, Principles of macroeconomics, 4th edn, McGraw-Hill, Australia
|Links||Booktopia textbook finder|
The University reserves the right to amend or remove courses and unit availabilities, as appropriate.