Introduction to Macroeconomics Principles for Policy – May 2023


The principles of macroeconomics are fundamental to any policy analysis, essential for all analytical work in the public sector, and are the foundations for building further skills and knowledge in economics.

The objective of this course is to provide participants with an appreciation of the principal concepts of macroeconomics with emphasis on their application to public policy analysis.

Payment is possible by invoice, purchase order and credit card.  To register click on the button below and you will be directed to our secure online form.

SKU: Macro-Feb22 Category: Tag:


With Dr Grant Scobie

Cost: This course is provided by the Government Economics Network (GEN) at a cost of $750 plus GST per person.

Date/Time: 9.00am-12.30pm, May 21 and 23, then 28 and 30

Location: St. Andrew’s on The Terrace

Target Audience and assumed background

This course will be most helpful to policy advisors with little or no experience in using economic frameworks for policy analysis.  The course is also useful for policy advisors with economics training who have not done courses such as Public Economics that are used for policy analysis.


“a fantastic lecturer and his real world examples are great!”

“just the right level of information for my needs”

“I really appreciated Grant approaching concepts in a number of ways to cater for different types of learners.”

“Grant was very knowledgeable, funny and insightful.”


The objective of this short course is to provide participants with a basic appreciation of the principal concepts of macroeconomics with emphasis on their application to public policy analysis. To do this the course will help participants develop an appreciation of:

  • the nature of economic aggregates by providing a primer on basic concepts that underpin the macroeconomy;
  • the role of government in (a) providing the statutory framework (eg the Public Finance Act 1989, the Reserve Bank of New Zealand Act 1989) and (b) shaping the decisions of individuals and firms through its role in savings, investments, tax and welfare and foreign exchange; and
  • the micro foundations of macroeconomics by recognising that all outcomes in the macroeconomy are the results of decisions taken by households and firms.
  • the key elements of monetary and fiscal policy with particular reference to the policy responses to Covid-19.

Course Objectives

On completion of this course participants will:

  • have an understanding of key macroeconomic terms and concepts;
  • be able to relate these to current policy debates;
  • appreciate how macroeconomic outcomes reflect the microeconomic decisions of firms and households and the role of government in shaping those decisions through policies related to stabilisation, redistribution,taxes, welfare, trade, savings and investment; and
  • have a basic understanding of the role of monetary and fiscal policies especially in the context of Covid-19.

Session outline and delivery

Day 1: The Big Picture

1.1 Macro questions
1.2 Why learn macroeconomics?
1.3 Introduction to economic models
1.4 Measuring the macroeconomy

Day 2: The Big World

2.1 Some essential models
2.2 Open and Closed economies
2.3 Gains from Trade
2.4 Terms of Trade
2.5 Tariffs
2.6 Global Capital markets
2.7 Exchange rates
2.8 The Current Account and the External Debt

Day 3: The Big Policies

3.1 Fiscal policies
3.2 Monetary policy
3.3 Inflation
3.4 A simple model

Day 4: The Big Debates

4.1 Why does productivity matter?
4.2 How can policy makers promote economic growth?

Covid 19: A Roundtable Discussion
4.3 Covid-19: What are the macroeconomic implications?
4.4 Covid-19: Can we ever get out of debt?

Cancellation policy

By submitting this Registration Form, you are confirming your availability to attend the GEN Training Course.

  1. Cancellation will not be accepted. The booking will be charged and invoiced with the full fee.
  2. If a registrant is unable to attend the course, the registration may be transferred to another suitable person to attend 2 days before start. All transfer requests must include the new attendee’s name, email address and telephone number and received in a written format and can be emailed to
  3. No refunds will be given by GEN for no-shows.

DECLARATION: I hereby certify that I am duly authorised to complete this registration form and have read and understand the terms and conditions as stipulated above.