Students
ECON633 – Intermediate Macroeconomics
2014 – S3 External
General Information
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| Unit convenor and teaching staff |
Unit convenor and teaching staff
Lecturer
Alexander Blair
Contact via Email
E4A 418
To be advised
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|---|---|
| Credit points |
Credit points
4
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| Prerequisites |
Prerequisites
Admission to MCom or MAcc(Prof)MCom or MBioTechMCom or MEc or MIntBus or MIntBusMIntComm or MIntBusMIntRel
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| Corequisites |
Corequisites
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| Co-badged status |
Co-badged status
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| Unit description |
Unit description
This is an intensive unit in intermediate macroeconomics, designed to provide the postgraduate student with all the basic macroeconomics required for a general commerce postgraduate program, and serving also as a starting point for specialist studies in postgraduate economics. The unit covers a wide range of the models in use in Economics today, including IS-LM, AD-AS, theories of the labour market, and the theory of exchange rates, and culminating in the Mundell-Fleming model of an open economy. The unit also provides a substantial introduction to the history of economic thought, allowing students to see the origins of the models they study and so better understand the models themselves. Although a theoretical unit, the contents have a large practical application, with review of many of the problems facing the global economy since the beginning of this decade, as well as the attempted solutions. This unit needs no prior knowledge. Thus any basic economics and accompanying mathematical and other skills required by the unit's material are taught as part of the unit curriculum.
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Important Academic Dates
Information about important academic dates including deadlines for withdrawing from units are available at https://www.mq.edu.au/study/calendar-of-dates
Learning Outcomes
On successful completion of this unit, you will be able to:
- Understand the theoretical models that form the body of contemporary macroeconomics.
- Understand and apply macroeconomic models to various economic problems and issues.
- Identify, define and analyse problems and recommend creative solutions within real-world constraints.
- Demonstrate a capacity to work independently including the ability to plan and achieve goals.
General Assessment Information
As an online unit you will generally be able to proceed at your own pace. The In-Session Test and Final Exam will take place online on set dates (the former determined by indicators of student progress, the latter according to the University's Examination schedule) but there will be no rigid deadlines for submission of online Assignments, and no penalties for late submission.
Assessment Tasks
| Name | Weighting | Due |
|---|---|---|
| In-Session Test | 10% | see iLearn website |
| Multiple (x4) Assignments | 60% | see iLearn website |
| Final Examination | 30% | University Examination Period |
In-Session Test
Due: see iLearn website
Weighting: 10%
Short answer test, 40 minutes. Grading method: written communication and other learning skills will be observed, based on material from early Modules. Exam script will be returned with comments. Estimated student workload is 5 hours
The purpose of this test is to take a snap shot of your current skill set, so as to allow any gaps in those skills to be addressed in plenty of time for successful remedy. As with the other in-semester assessments, this purpose is more important than the mere accumulation of marks. The test will use the basic models presented in the first few Modules to take stock of your written communication and mathematical skills. Any difficulties likely to hamper your progress will be identified in plenty of time for action to be taken.
On successful completion you will be able to:
- Understand the theoretical models that form the body of contemporary macroeconomics.
- Identify, define and analyse problems and recommend creative solutions within real-world constraints.
- Demonstrate a capacity to work independently including the ability to plan and achieve goals.
Multiple (x4) Assignments
Due: see iLearn website
Weighting: 60%
Available online with opening of corresponding Module. Grading method: assessment of student's grasp of relevant economic theory and its application. Online submission via iLearn. Assignment script will be returned with comments. Estimated student workload is 30 hours.
These assignments are designed primarily as tools of learning. You will use Powerpoint software to recreate the models presented in the Lecture Videos. The animation facility in Powerpoint allows you to use the models for economic analysis, with shifts of the curves and changes in equilibrium in the correct sequence and explained by textboxes, much as in the Lecture Videos (which will serve as a template for these exercises). This is the best way of mastering the models which are the key to success in the Unit. Collectively the Assignments make the largest contribution of marks to your final grade, though as always the teaching and learning purpose is primary.
On successful completion you will be able to:
- Understand the theoretical models that form the body of contemporary macroeconomics.
- Understand and apply macroeconomic models to various economic problems and issues.
- Identify, define and analyse problems and recommend creative solutions within real-world constraints.
- Demonstrate a capacity to work independently including the ability to plan and achieve goals.
Final Examination
Due: University Examination Period
Weighting: 30%
The Final Examination will include both multiple choice and long answer questions, for which you will have received practice in the Mid-Semester Examination. Details regarding the structure of the Final Exam will be given online. The exam itself will be delivered and the script submitted online, with a time limit from opening of the exam to final submission of three hours.
Grading method: Assessment of student’s grasp of relevant economic theory and its application
Feedback available for Post-Exam viewing
Estimated student workload is 30 hours.
A final examination is included as an assessment task for this unit to provide assurance that:
- the product belongs to the student and
- the student has attained the knowledge and skills tested in the exam.
On successful completion you will be able to:
- Understand the theoretical models that form the body of contemporary macroeconomics.
- Understand and apply macroeconomic models to various economic problems and issues.
- Identify, define and analyse problems and recommend creative solutions within real-world constraints.
- Demonstrate a capacity to work independently including the ability to plan and achieve goals.
Delivery and Resources
Required and Recommended Texts and/or Materials
A useful source on many of the models found in the Unit is the following Recommended Text:
Olivier Blanchard & Jeffrey Sheen, Macroeconomics, Pearson, 3nd Australasian edition, 2009. (hereafter B&S).
There is currently no e-book of this text.
Technology Used and Required
Unit Web Page on iLearn
Lecture and tutorial material as well as up to date information concerning any aspect of the unit, including any changes to the schedule, will be available to students by logging on to the unit web page at http://ilearn.mq.edu.au.
The following information will be available on iLearn:
| Unit Guide | Announcements |
| Lecture slides | Online quizzes |
| Results of Assessment tasks | Other relevant material |
You are strongly encouraged to regularly visit the website and use it as a resource centre to assist with your learning.
If you are unable to access the iLearn website because you are not aware of or have forgotten your username and password, please contact the IT helpdesk located on Level 1 of the Library or call 9850 6500. The IT helpdesk will also be able to assist you with using the unit web page.
Please remember to log out when you have finished using the unit web page. Failure to do so could result in unauthorised access to your unit web page account.
Policies and Procedures
Macquarie University policies and procedures are accessible from Policy Central. Students should be aware of the following policies in particular with regard to Learning and Teaching:
Academic Honesty Policy http://mq.edu.au/policy/docs/academic_honesty/policy.html
Assessment Policy http://mq.edu.au/policy/docs/assessment/policy.html
Grading Policy http://mq.edu.au/policy/docs/grading/policy.html
Grade Appeal Policy http://mq.edu.au/policy/docs/gradeappeal/policy.html
Grievance Management Policy http://mq.edu.au/policy/docs/grievance_management/policy.html
Disruption to Studies Policy http://www.mq.edu.au/policy/docs/disruption_studies/policy.html The Disruption to Studies Policy is effective from March 3 2014 and replaces the Special Consideration Policy.
In addition, a number of other policies can be found in the Learning and Teaching Category of Policy Central.
Student Code of Conduct
Macquarie University students have a responsibility to be familiar with the Student Code of Conduct: https://students.mq.edu.au/support/student_conduct/
Grades
Macquarie University uses the following grades in coursework units of study:
· HD - High Distinction (85 - 100)
· D - Distinction (75 - 84)
· CR - Credit (65 - 74)
· P - Pass (50 - 64)
· F – Fail (0 - 49)
Grade descriptors and other information concerning grading are contained in the Macquarie
University Grading Policy which is available at:
http://www.mq.edu.au/policy/docs/grading/policy.html
For further information, please refer to page 71 of the 2013 Calendar of Governance, Legislation and Rules- Postgraduate Rules at
http://universitycouncil.mq.edu.au/pdfs/2013-Postgraduate_rules.pdf
Grade Appeals and Final Examination Script Viewing
If, at the conclusion of the unit, you have performed below expectations, you are entitled to and welcome to review your final examination as well as your other marks. First contact your lecturer by email or in person. Should you wish to appeal your grade, the University website provides information on the criteria to be met for appeal to be lodged, and the procedure to follow.
Provisions for unavoidable disruption of studies
The University is committed to equity and fairness in all aspects of its learning and teaching. In stating this commitment, the University recognises that there may be circumstances where a student is prevented by unavoidable disruption from performing in accordance with their ability. Policies for the grant of assistance to students who have suffered unavoidable disruption to their studies have recently been reviewed by the University. The current policy is available at:
www.mq.edu.au/policy/docs/disruption_studies/policy.pdf
Student Support
Macquarie University provides a range of support services for students. For details, visit http://students.mq.edu.au/support/
Learning Skills
Learning Skills (mq.edu.au/learningskills) provides academic writing resources and study strategies to improve your marks and take control of your study.
Student Support
Students who require assistance are encouraged to contact the Student Services Manager at Macquarie City Campus. Please see reception to book an appointment.
Macquarie University provides a range of Academic Student Support Services. Details of these services can be accessed at http://students.mq.edu.au/support/
Student Services and Support
Students with a disability are encouraged to contact the Disability Service who can provide appropriate help with any issues that arise during their studies.
Student Enquiries
For all student enquiries, visit Student Connect at ask.mq.edu.au
IT Help
For help with University computer systems and technology, visit http://informatics.mq.edu.au/help/.
When using the University's IT, you must adhere to the Acceptable Use Policy. The policy applies to all who connect to the MQ network including students.
IT Help
If you wish to receive IT help, we would be glad to assist you at http://informatics.mq.edu.au/help/ or call 02 9850-4357.
When using the university's IT, you must adhere to the Acceptable Use Policy. The policy applies to all who connect to the MQ network including students and it outlines what can be done.
Students must use their Macquarie University email addresses to communicate with staff as it is University policy that the University issued email account is used for official University communication.
Students are expected to act responsibly when utilising Macquarie IT facilities. The following regulations apply to the use of computing facilities and online services:
· Accessing inappropriate web sites or downloading inappropriate material is not permitted.
· Material that is not related to coursework for approved unit is deemed inappropriate.
· Downloading copyright material without permission from the copyright owner is illegal, and strictly prohibited. Students detected undertaking such activities will face disciplinary action, which may result in criminal proceedings.
Non-compliance with these conditions may result in disciplinary action without further notice.
Graduate Capabilities
PG - Discipline Knowledge and Skills
Our postgraduates will be able to demonstrate a significantly enhanced depth and breadth of knowledge, scholarly understanding, and specific subject content knowledge in their chosen fields.
This graduate capability is supported by:
Learning outcomes
- Understand the theoretical models that form the body of contemporary macroeconomics.
- Understand and apply macroeconomic models to various economic problems and issues.
- Demonstrate a capacity to work independently including the ability to plan and achieve goals.
Assessment tasks
- In-Session Test
- Multiple (x4) Assignments
- Final Examination
PG - Critical, Analytical and Integrative Thinking
Our postgraduates will be capable of utilising and reflecting on prior knowledge and experience, of applying higher level critical thinking skills, and of integrating and synthesising learning and knowledge from a range of sources and environments. A characteristic of this form of thinking is the generation of new, professionally oriented knowledge through personal or group-based critique of practice and theory.
This graduate capability is supported by:
Learning outcomes
- Understand and apply macroeconomic models to various economic problems and issues.
- Identify, define and analyse problems and recommend creative solutions within real-world constraints.
- Demonstrate a capacity to work independently including the ability to plan and achieve goals.
Assessment tasks
- In-Session Test
- Multiple (x4) Assignments
- Final Examination
PG - Research and Problem Solving Capability
Our postgraduates will be capable of systematic enquiry; able to use research skills to create new knowledge that can be applied to real world issues, or contribute to a field of study or practice to enhance society. They will be capable of creative questioning, problem finding and problem solving.
This graduate capability is supported by:
Learning outcomes
- Understand and apply macroeconomic models to various economic problems and issues.
- Identify, define and analyse problems and recommend creative solutions within real-world constraints.
Assessment tasks
- Multiple (x4) Assignments
- Final Examination
PG - Effective Communication
Our postgraduates will be able to communicate effectively and convey their views to different social, cultural, and professional audiences. They will be able to use a variety of technologically supported media to communicate with empathy using a range of written, spoken or visual formats.
This graduate capability is supported by:
Assessment task
- In-Session Test
FREQUENTLY ASKED QUESTIONS, FREQUENT PROBLEMS, AND SOME ADVICE ON PASSING THE UNIT
I will have much more advice on this online but first some general points:
- The material for the Unit is available online, along with discussion forums, additional readings and handouts, all designed to assist students in mastering the material. All of the material will be accessible and all will be examinable.
- Following from Point i), you must make use of the online material. This gives you an interactive summary and explanation of the material, in a way that no written notes or textbook can. In other words, no textbook can tell whether you understand what is being said; by interaction between staff and students online, we can explain the material again or in a different way until you have a complete understanding of it. This will require only an engagement with the resources found online.
- Don't panic if you don't immediately understand the material. Very often, understanding will come later, as the material becomes familiar. Very often, it is most clear when you return to it, closer to the end of the Unit, especially as we will have covered so much ground that the pieces will start fitting together in your mind.
- Following on from Point iv), don't even try to understand, until you have learnt the diagrams. You cannot understand a diagram, until you have learnt it well enough that you can close your eyes and see it in your mind. Most models are built around one or two major diagrams; if you can remember the diagram unaided, then you’ll understand the diagram. Understanding the diagram, you’ll understand the model. This advice is so important that perhaps it should be at the top of the list; and ignoring it is the easiest and quickest way to fail.
- I am happy to go through practice exam questions with you. The first thing I will do, is ask you to draw the diagram or write down the equation, from memory. If you can't, the problem will become evident and the solution will immediately present itself; learn the equation or diagram and likely your questions will answer themselves.
- Special Advice for Repeating Students:
- Sorry you weren't able to get through the Unit the first time, we'll do our best to help you get through, this time. First step, look again at Points ii), iv) and v), and ask yourself, is that why I didn't succeed? Maybe so.
- often you received an SNG somewhere close to a Pass. This doesn't mean that doing the Unit a second time will easily give you those few extra marks. Very often, repeating students receive a lower grade than in their first attempt. Why? Because they assume that, since they were close to passing the first time, they don't need to come to lectures or to put in the necessary study time. This is a mistake, and it happens too often. Don't let it be you.
Changes since First Published
| Date | Description |
|---|---|
| 11/02/2014 | The Prerequisites was updated. |