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ECON112 Principles of Macroeconomics


The course develops a variety of microeconomic and macroeconomic principles to understand the operation of economic forces in New Zealand and around the world. It extends the analysis of market economies begun in BSNS 104 by exploring how incentives and budget constraints affect the choices people make and the ways markets function or fail. Microeconomic topics include the theory of consumer choice, game theory, the economics of information, the provision of public goods, and an introduction to environmental economics. Macroeconomic topics include economic growth and fluctuations, labour markets and inequality, monetary and fiscal policy, rational and “non-rational” expectations, and financial crises.




ECON 102, 212, MANV 201

Course Coordinator and Lecturer

Dr Andrew Coleman

Prescribed textbook

Principles of Economics, University of Otago Custom Edition, by Mankiw et al, Cengage Learning, 2012


Tests (maximum mark from two tests 25%
Tutorial assignments (5 x 1%)5%
Final examination (3 hours)70%

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Introduction to analysing the economy as a whole. Topics include the determination of national income, unemployment, inflation, interest rates and the exchange rate, as well as monetary and fiscal policy.

Follows on from BSNS 113 and extends the analysis of market economies in New Zealand and international contexts. Topics include: economic growth, business cycles, monetary policy and the role of the Reserve Bank, the global financial crisis (GFC), and fiscal policy and the appropriate role of government.

Paper title Principles of Macroeconomics
Paper code ECON112
Subject Economics
EFTS 0.1500
Points 18 points
Teaching period Second Semester
Domestic Tuition Fees (NZD) $846.30
International Tuition Fees (NZD) $4,073.10

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Pre or Corequisite
BSNS 104 or BSNS 113
ECON 212, ECON 102, MANV 201
Schedule C
Arts and Music, Commerce, Science
Students with appropriate NCEA results may apply to the Department of Economics to have the prerequisite waived.
Teaching staff

Convenor and lecturer: Arlene Ozanne
Lecturer: Terry Kerr

Principles of Economics 5th ed.,by Gans et al, Cengage Learning, 2012
Graduate Attributes Emphasised
Global perspective, Interdisciplinary perspective, Lifelong learning, Scholarship, Communication, Critical thinking, Environmental literacy, Information literacy, Research, Self-motivation
View more information about Otago's graduate attributes
Learning Outcomes
The emphasis is on understanding economic principles and models and their application to real-world issues.

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Second Semester

Teaching method
This paper is taught On Campus
Learning management system


Stream Days Times Weeks
Attend one stream from
L1 Tuesday 10:00-10:50 28-34, 36-41
L2 Tuesday 11:00-11:50 28-34, 36-41
AND one stream from
M1 Thursday 10:00-10:50 28-34, 36-41
M2 Thursday 11:00-11:50 28-34, 36-41
AND one stream from
N1 Friday 10:00-10:50 28-34, 36-41
N2 Friday 11:00-11:50 28-34, 36-41


Stream Days Times Weeks
Attend one stream from
T1 Tuesday 13:00-13:50 29-34, 36-41
T2 Tuesday 16:00-16:50 29-34, 36-41
T3 Wednesday 09:00-09:50 29-34, 36-41
T4 Wednesday 09:00-09:50 29-34, 36-41
T5 Wednesday 12:00-12:50 29-34, 36-41
T6 Wednesday 13:00-13:50 29-34, 36-41
T7 Wednesday 16:00-16:50 29-34, 36-41
T8 Wednesday 17:00-17:50 29-34, 36-41
T9 Wednesday 18:00-18:50 29-34, 36-41
T10 Thursday 09:00-09:50 29-34, 36-41
T11 Thursday 15:00-15:50 29-34, 36-41
T12 Thursday 16:00-16:50 29-34, 36-41
T13 Thursday 16:00-16:50 29-34, 36-41
T14 Thursday 17:00-17:50 29-34, 36-41
T15 Friday 09:00-09:50 29-34, 36-41
T16 Friday 12:00-12:50 29-34, 36-41