This course takes you through the basic concepts of macroeconomics including: economic output, productivity, growth, inflation, foreign investment and trade. Participants will learn about aggregate economic statistics frequently used by government and media.
This course will discuss the role of Australia in the global economy and the role of trade in the global economy. Beginning with a thorough examination of the idea of well-being: How should we measure it? How should government objectives be targeted towards well-being? What does the macro-economy have to do with well-being? From there, an extensive examination of key macro-economic statistics including gross domestic product and inflation will be undertaken. The role of key institutions such as the Reserve Bank of Australia in managing the national economy will be discussed as well as the relationship between economic growth, environmental sustainability, productivity and innovation. What exactly is the role of government in each of these areas?
See related course: Beginner’s guide to microeconomics for the public sector
Participants will develop an understanding of the relationship between government, the macro-economy and well-being. Participants will understand the basic concepts of macroeconomics including: economic output, productivity, growth, inflation, foreign investment, international trade and exchange rates. Participants will gain an understanding of a wide-range of aggregate economic statistics used by government and media.
Participants will learn about the role of key institutions such as the Reserve Bank of Australia in managing the national economy.
Participants will learn about the role of the government in the macro-economy and develop an understanding of how to think about key policy issues such as: Should Australia be worried about deficit and debt? Can the government create more innovation and productivity? Can the government prevent economic crises?
Participants will learn about key concepts and statistics relating to the global economy including net foreign investment, the current account balance and exchange rate theory and purchasing power parity.
Who should attend?
This course is designed for individuals at any level of their career who are interested in gaining a deeper understanding of basic economics and its usefulness and application to policy issues. The course is designed for those with no economics background.
Professor Robert Breunig
Robert Breunig is the director of the Tax and Transfer Policy Institute at the Crawford School of Public Policy. From 2015 to 2016 he was the Director of the Crawford School of Public Policy.
Professor Breunig is one of Australia’s leading Public Policy Economists. He has published in over 50 international academic journals in economics and public policy. Professor Breunig has made significant policy impact through a number of his research projects: the relationship between child care and women’s labour supply; the effect of immigration to Australia on the labour market prospects of Australians; the effect of switching to cash from food stamps in the U.S. food stamp program and the inter-generational transmission of disadvantage.
Professor Breunig’s research is motivated by important social policy issues and debates. His work is characterised by careful empirical study and appropriate use of statistical technique.
Professor Breunig’s research agenda has led to many partnerships with government organisations in Australia and overseas. He works regularly with the Australian Treasury, the Department of Employment, the Department of Industry, the Department of Communication and the Arts, the Productivity Commission, the Australian Bureau of Statistics along with many other agencies. He has been a consultant to the private sector on marketing, mergers, bank competition and customer loyalty programs.
Robert Breunig particularly enjoys interaction outside of typical academic circles and takes pleasure in helping those who don’t usually use economics or statistical analysis to better understand and make use of these tools in their work. He has an extensive track record of helping the Australian Public Service to build research capacity which he views as a particularly important activity.