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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?

Course overview

Topics include: 

  • The role of Australia in the global economy and the importance of trade.
  • Macroeconomic statistics such as GDP and inflation.
  • The role of institutions like the Reserve Bank of Australia.
  • The relationship between economic growth, environmental sustainability, productivity, and innovation.
  • Government’s role in stabilizing the economy.

 

Learning outcomes:

  • Understanding of macroeconomic concepts such as economic output, productivity, inflation, foreign investment, and trade.
  • Application of macroeconomic statistics used by governments and media, including GDP and inflation.
  • Analysing the role of government in economic stabilisation and setting conditions for long-term growth in living standards.
  • Developing a framework for thinking about economic challenges through practical case studies.

 

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 useful application to policy issues.

This course is designed for those with no economic background.

Testimonials

A greater understanding of economic cycles, inflation, GDP and counter-cyclical government policies stands me in good stead to better understand and analyse market forces and economics surrounding industry sectors.

Presenter

Ippei Fujiwara
Ippei Fujiwara

Prof Ippei Fujiwara

Ippei Fujiwara is an Honorary Professor at the Australian National University (ANU), and a Professor of Macroeconomics at Keio University. He serves as Associate Editor of the European Economic Review and Co-Editor of the Japanese Economic Review.

He holds several prominent research and advisory roles, including:

  • Research Fellow at the Centre for Economic Policy Research (CEPR)
  • Fellow at the Asian Bureau of Finance and Economic Research (ABFER)
  • Deputy Director at the Center for Applied Macroeconomic Analysis (CAMA), ANU
  • Japan Director of the Australia-Japan Research Centre (AJRC), ANU
  • International Advisory Board Member at the Asian Bureau of Economic Research (ABER), ANU
  • Faculty Fellow at the Research Institute of Economy, Trade and Industry (RIETI)
  • Advisory Board Member at the Macroeconomics, Growth and History Centre (MaGHiC), University of Kent

Professor Fujiwara earned a D.Phil. in Economics from the University of Oxford (Nuffield College) and a Ph.D. in Applied Economics from Osaka University. Prior to joining ANU in 2011, he spent 18 years at the Bank of Japan.

His research interests lie in international finance, monetary economics, and macroeconomics. His work has been published in leading journals, including the American Economic Review, Journal of Applied Econometrics, Journal of Economic Dynamics and Control, Journal of International Economics, Journal of International Money and Finance, Journal of Money, Credit and Banking, Journal of Monetary Economics, Macroeconomic Dynamics, Review of Economic Dynamics, and Theoretical Economics. He has authored 17 articles in A* journals listed in the Australian Business Deans Council (ABDC) ranking.

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