1997 Swinburne Higher Education Handbook

appreciation of macroeconomic concepts, issues and policies
pertaining to the Australian economy.
Content
This subject introduces students to the key macroeconomic
concepts, issues and policies. Emphasis is on current issues
and policies. To fully appreciate the current Australian
economic and business environment, some theoretical
background is necessary and this is provided in the course
by the AD/AS model. This model is applied to issues such
as inflation, unemployment and external imbalance and is
used to demonstrate the impact of government
macroeconomic policies (wages, fiscal and monetary) on
Australian business and the economy. Within the course
students are introduced to the financial markets, financial
deregulation and Australia's international business
environment.
Recommended reading
Freebairn, M.L., et a]., Introduction to Australian Macroeconomin,
3rd edn, Hawthorn, Vic., Citadel Press, 1995
Freebairn, M.L., Study Guide to Accompany Introduction to
Australian Macroeconomics, Hawthorn, Citadel Press, 1995
McTaggart, D. et al. Microeconomics, Aust. edn, Sydney, Addison-
Wesley, 1992
Waud, R.N., et al., Economics, 2nd Aust. edn, Armaton, N.S.W.,
Harper Educational, 1992
Baumol, W. and Blinder, A., Economic Principles and Policy, 2nd
Aust. edn, Sydney, Harcourt Brace Jovanovich, 1992
LBE201 Managerial Economics
3 hours per week Lilydale Prerequisite: LBElOO also
LCRlOO Assessment: examination/assignment
A stage 2 subject in the Bachelor of Business which also
maybe taken in the Bachelor of Social Science and Bachelor
of Applied Science.
Objectives and Content
To show the relevance of microeconomic concepts to
business decision-making.
This subject deals with topics such as decision-making under
conditions of uncertainty, demand analysis with emphasis
on demand estimation, cost analysis and cost concepts for
decision making, pricing decisions in theory and practice
and
.
the goals of the firm and their influence on decision-
.
making. -
V)
-. & Recommended reading
a Baye, M.R. and Beil, R.O., Managed Economics and Business
2 Strategy, Boston, Mass. Irwin, 1994
a Douglas, E.J. Managerial Economics Analysis and Strategy. 4th edn,
$ Engkwood Cliffs, N. J., Prentice Hall, 1992
Samuelson, W.F. and Marks, S.G., Managa'al Economics, 2nd
edn., Fort Worth, Dryden Press, 1995
LBE202 Macroeconomic Policy
3 hoursper week Lilydale Prerequisite: LBE200
Assessment: examination/assignmat
A stage 2 subject in the Bachelor of Business which also
maybe taken in the Bachelor of Social Science and Bachelor
of Applied Science.
Objectives and Content
This is a second year subject which builds on the material
covered in BE220, the first year macro subject.
The main objectives of the subject are to:
Broaden students' understanding and appreciation of
macroeconomic principles, current issues and policy;
Provide studentiwith the necessary skills to evaluate
macroeconomic policies and related debate.
Specific topics include the measurement of macroeconomic
performance, limitations of major aggregate indicators,
sources of fluctuations in economic activity, major
macroeconomic problems, macroeconomic management
within an open economy.
The course will describe the deficiencies in earlier
macroeconomic theories which led to disaffection. But the
theories now in vogue, and importantly the policies based
upon them, have their own limitations which will be
explained.
Recommended reading
McTaggart, D. et al. Macroeconomics. Wokingham, U.K.,
Addison-Wesley, 1992
Stewart, Michael, Keynes in the 1990s,, London, Penguin, 1993
Jackson, J., McIver, R., McConnell, C., Macroeconomics, 4th edn,
McGraw-Hill, Sydney, 1994
LBE300 Financial Institutions and Monetary
Policy
3 hours per week Lilydale Prerequisites LBElOO LBEZOO
Assessmat examination/assignment, multiple choice test
A stage 3 subject in the Bachelor of Business which also
maybe taken in the Bachelor of Social Science and Bachelor
of Applied Science.
Objectives
To provide students with:
an up-to-date view of Australian financial
intermediatories; their nature and operation in a
changing business environment;
an appreciation and understanding of the application of
monetary policy; its origins and currrent controversies.
Content
This course includes:
a study of Australian financial intermediaries;
the process of deregulation and its impacts on financial
intermediaries and Reserve Bank policies;
the role of the Reserve Bank as a prudential supervisor
and as a regulator of economic instability;
the development of monetary policy, current monetary
policy controversies and the application and operation
of monetary policy.
Recommended reading
Bruce, R. Handbook of Australian Corporate Finance. 4th edn,
Sydney, Butterworths, 1991
McGrath, M., Financial Institutions, Instruments and Markets in
Australia, McGraw-Hill, Sydney, 1994
Mishkin, F. irhe Economics of Money Banking and Financial