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Understanding the Australian economy: An introduction to macroeconomic and financial policies
  • Level Foundation
  • Duration 14 hours
  • Course by The University of Sydney
  • Offered by

About

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.

Modules

Introduction to the course

    • 1 Videos
    • 2 Readings
    • 1 Discussion
Show info about module content

1 Discussions

  • Introduce yourself

1 Videos

  • Introduction to the course

2 Readings

  • How to navigate the course
  • Overview of the assessments and activities

Introduction to Module 1

    • 1 Videos
    • 1 Readings
Show info about module content

1 Videos

  • Introduction to Module 1

1 Readings

  • Module 1 list of figures

Key characteristics of the Australian economy

    • 2 Videos
    • 1 Discussion
Show info about module content

1 Discussions

  • Is GDP measure flawed?

2 Videos

  • GDP
  • Unemployment and inflation rates

Exchange rates and the Australian dollar

    • 2 Videos
Show info about module content

2 Videos

  • Exchange rates
  • Exchange rate regimes in Australia

Module 1 wrap-up

    • 1 Videos
    • 1 Readings
    • 1 Discussion
    • 1 Assignment
Show info about module content

1 Assignment

  • Assessment 1 - Module 1 quiz

1 Discussions

  • Is Australia's economy slowing down?

1 Videos

  • Module 1 conclusion

1 Readings

  • Module 1 further readings

Introduction to Module 2

    • 1 Videos
    • 1 Readings
Show info about module content

1 Videos

  • Introduction to Module 2

1 Readings

  • Module 2 list of figures

Monetary policy and its transmission channel

    • 2 Videos
    • 1 Discussion
Show info about module content

1 Discussions

  • The importance of the cash rate

2 Videos

  • Monetary policy
  • The transmission channel

The Reserve Bank's stabilisation policy

    • 2 Videos
Show info about module content

2 Videos

  • The IS-LM model
  • Inflation and output stabilisation

The Reserve Bank and the Australian dollar

    • 2 Videos
Show info about module content

2 Videos

  • Exchange rate stabilisation I
  • Exchange rate stabilisation II

An interview with Malcolm Edey

    • 2 Videos
Show info about module content

2 Videos

  • Primary challenges in achieving the RBA's objectives
  • Factors that may impact on the conduct of monetary policy

Module 2 wrap-up

    • 2 Videos
    • 1 Readings
    • 1 Discussion
    • 1 Assignment
Show info about module content

1 Assignment

  • Assessment 2 - Module 2 quiz

1 Discussions

  • Is a falling Aussie dollar helpful to the economy?

2 Videos

  • Module 2 conclusion
  • OPTIONAL - Full interview with Malcolm Edey

1 Readings

  • Module 2 further readings

Introduction to Module 3

    • 1 Videos
    • 1 Readings
Show info about module content

1 Videos

  • Introduction to Module 3

1 Readings

  • Module 3 list of figures

The objectives and functions of fiscal policy

    • 3 Videos
Show info about module content

3 Videos

  • Introduction to fiscal policy in Australia
  • The objectives of fiscal policy
  • The functions of fiscal policy

Fiscal policy and its effect: framework

    • 2 Videos
Show info about module content

2 Videos

  • The modified AS-AD framework
  • Applying the modified AS-AD framework

Fiscal policy and its effect: applications

    • 2 Videos
Show info about module content

2 Videos

  • Australian applications, 1986 - 1996
  • Australian applications, 1997 - 2012

Module 3 wrap-up

    • 1 Videos
    • 1 Readings
    • 1 Discussion
    • 1 Assignment
Show info about module content

1 Assignment

  • Assessment 3 - Module 3 quiz

1 Discussions

  • The 2019-2020 Commonwealth budget

1 Videos

  • Module 3 conclusion

1 Readings

  • Module 3 further readings

Introduction to Module 4

    • 1 Videos
    • 1 Readings
Show info about module content

1 Videos

  • Introduction to Module 4

1 Readings

  • Module 4 list of figures

The GFC - Causes and consequences

    • 4 Videos
Show info about module content

4 Videos

  • 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 impact of the GFC on the Australian economy

    • 2 Videos
    • 1 Readings
    • 1 Discussion
Show info about module content

1 Discussions

  • A little too late?

2 Videos

  • The benefits of "good luck"
  • The benefits of "good policy"

1 Readings

  • Why was the Chinese economy booming at the time of the GFC?

Why did Australia escape the worst of the GFC?

    • 2 Videos
Show info about module content

2 Videos

  • 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 wrap-up

    • 2 Videos
    • 1 Readings
    • 1 Discussion
    • 1 Assignment
Show info about module content

1 Assignment

  • Assessment 4 - Module 4 quiz

1 Discussions

  • Should we regulate state-owned banks at a global level?

2 Videos

  • Module 4 conclusion
  • OPTIONAL: Full interview with Adrian Blundell-Wignall

1 Readings

  • Module 4 further readings

End of course quiz and course wrap-up

    • 1 Videos
    • 1 Discussion
    • 1 Assignment
Show info about module content

1 Assignment

  • Assessment 5 - End of course quiz

1 Discussions

  • Take-home messages

1 Videos

  • Summary of course

Auto Summary

Explore the intricacies of the Australian economy with our comprehensive four-week course, "Understanding the Australian Economy: An Introduction to Macroeconomic and Financial Policies." This foundational course, offered by Coursera, delves into the macroeconomic and financial policies shaping Australia's economic landscape. Perfect for beginners, it requires no prior knowledge of economics. Throughout the course, you will engage with selective aspects of the Australian economy, understanding how domestic and international forces influence key economic attributes. You will learn to navigate complex issues and dilemmas facing the economy through the lens of monetary and fiscal policies. The course also reflects on the global financial crisis of 2007-2010, extracting valuable lessons and examining policymakers' responses in its aftermath. Structured around sound economic theories and real-world data, the course provides practical applications of economic reasoning to current issues in Australia. Alongside conventional lectures, you will benefit from interviews with experts and practitioners, offering diverse insights into the economic landscape. Lasting 840 minutes, the course is available through two subscription options: Starter and Professional, catering to different learning needs. Whether you're a student, professional, or simply curious about economics, this course is designed to equip you with a foundational understanding of macroeconomic and financial policies in the Australian context. Join us and gain valuable insights into the economic forces that shape Australia.

Denny Lie
Instructor

Denny Lie