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Understanding the Australian economy: An introduction to macroeconomic and financial policies

Approx. 14 hours to complete

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Course Summary

Explore the Australian economy and its key economic indicators such as GDP, inflation, and unemployment with this course. Learn about the country's economic history and current economic policies.

Key Learning Points

Understand the structure and performance of the Australian economy
Examine key economic indicators such as GDP, inflation, and unemployment
Gain insights into the country's economic history and current economic policies

Job Positions & Salaries of people who have taken this course might have

- USA: $77,000
- India: ₹6,00,000
- Spain: €39,000
- USA: $77,000
- India: ₹6,00,000
- Spain: €39,000
- USA: $64,000
- India: ₹6,50,000
- Spain: €31,000
- USA: $77,000
- India: ₹6,00,000
- Spain: €39,000
- USA: $64,000
- India: ₹6,50,000
- Spain: €31,000
- USA: $73,000
- India: ₹8,00,000
- Spain: €43,000

Learning Outcomes

Understand the current state of the Australian economy and its major contributors
Analyze key economic indicators to assess the performance of the economy
Identify the impact of economic policies on the economy

Prerequisites or good to have knowledge before taking this course

Basic knowledge of economics
Access to a computer with internet connection

Course Difficulty Level

Intermediate

Course Format

Self-paced
Online

Similar Courses

Economics of Money and Banking
Macroeconomic Principles
Applied Financial Planning

Notable People in This Field

Economics Editor for the Sydney Morning Herald
Economics Editor for the Sydney Morning Herald and The Age

Related Books

Description

This four-week, four-module course explores selective aspects of the Australian economy, with emphasis on macroeconomic and financial policies. The course introduces participants to several key attributes of the Australian economy and discusses how they are influenced by both domestic and international forces. We will examine some of the key issues and dilemmas facing the Australian economy and how policymakers can deal with them using monetary and fiscal policies. There will also be a discussion on the still-fresh 2007-2010s global financial crisis, the lessons learned, and how policymakers deal with the aftermath. Discussions will be centered around sound economic theories and reasoning, and utilize actual data whenever applicable. Applications of the economic reasoning and theories to current, real-world issues pertaining to the Australian economy will also be provided. In addition to conventional lectures, the course also contains several interviews with relevant experts and practitioners. No prior knowledge or training in economics is required.

Outline

The Australian economy in a nutshell
Introduction to the course
Introduction to Module 1
GDP
Unemployment and inflation rates
Exchange rates
Exchange rate regimes in Australia
Module 1 conclusion
How to navigate the course
Overview of the assessments and activities
Module 1 list of figures
Module 1 further readings
Assessment 1 - Module 1 quiz

Monetary policy and the RBA
Introduction to Module 2
Monetary policy
The transmission channel
The IS-LM model
Inflation and output stabilisation
Exchange rate stabilisation I
Exchange rate stabilisation II
Primary challenges in achieving the RBA's objectives
Factors that may impact on the conduct of monetary policy
Module 2 conclusion
OPTIONAL - Full interview with Malcolm Edey
Module 2 list of figures
Module 2 further readings
Assessment 2 - Module 2 quiz

Fiscal policy in Australia
Introduction to Module 3
Introduction to fiscal policy in Australia
The objectives of fiscal policy
The functions of fiscal policy
The modified AS-AD framework
Applying the modified AS-AD framework
Australian applications, 1986 - 1996
Australian applications, 1997 - 2012
Module 3 conclusion
Module 3 list of figures
Module 3 further readings
Assessment 3 - Module 3 quiz

The 2007 - 2010s Global Financial Crisis
Introduction to Module 4
The GFC - What happened?
The GFC - How did it happen?
The GFC - The response of the policymakers
An interview with Adrian Blundell-Wignall - Part 1: Why were many caught off guard by the GFC?
The benefits of "good luck"
The benefits of "good policy"
Interview with Malcolm Edey: Why did Australia escape the worst of the GFC?
Interview with Adrian Blundell-Wignall - Part 2: Why did Australia escape the worst of the GFC?
Module 4 conclusion
OPTIONAL: Full interview with Adrian Blundell-Wignall
Summary of course
Module 4 list of figures
Why was the Chinese economy booming at the time of the GFC?
Module 4 further readings
Assessment 4 - Module 4 quiz
Assessment 5 - End of course quiz

Summary of User Reviews

The Australian Economy course on Coursera has received excellent reviews from users. Many users found the course to be informative and engaging, providing a comprehensive overview of the Australian economy. One key aspect that many users appreciated was the course's emphasis on real-world applications.

Pros from User Reviews

Comprehensive overview of the Australian economy
Informative and engaging content
Emphasis on real-world applications
Great for beginners and those with a basic understanding of economics

Cons from User Reviews

Some users found the course to be too basic
Lack of in-depth analysis on certain topics
Limited interaction with instructors and other students
Not enough emphasis on current events affecting the Australian economy

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