Unit convenor and teaching staff |
Unit convenor and teaching staff
Natalia Ponomareva
Contact via natalia.ponomareva@mq.edu.au
E4A 428
Monday 1-2, Wednesday 1-2 or by appointment
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Credit points |
Credit points
4
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Prerequisites |
Prerequisites
Admission to MRes
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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 unit presents macroeconomic models based firmly on microeconomic foundations. Specifically, macroeconomic models are developed based on the optimising behaviour of private agents and of the government in an open economy framework. There are two important advantages of this approach. Firstly, macroeconomic issues can be discussed in a way that is fully consistent with microeconomic behaviour. Secondly, because this approach is based on solid microeconomic theory, it can be used to evaluate the welfare consequences of government policy. The empirical regularities that have been found in macroeconomic data will also be discussed and be used to evaluate the theory we develop in macroeconomics.
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Information about important academic dates including deadlines for withdrawing from units are available at https://www.mq.edu.au/study/calendar-of-dates
On successful completion of this unit, you will be able to:
Name | Weighting | Due |
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Class test | 25% | week 7 |
Assignement | 30% | week 11 |
Final exam | 45% | Formal examination period |
Due: week 7
Weighting: 25%
The class test is 1.5 hours plus 10 min reading time.
Due: week 11
Weighting: 30%
Description
This assignment is based on a referee report or literature review, where students will have to demonstrate understanding and depth of readings relating theory to empirics and policy issues. Details will be provided on ilearn.
Submission
The hard copy of the assignment has to be handed in class in week 11 and the soft copy should be submitted to turnitin by 9 pm October 21.
Extension
There will be no extensions. In the case of unavoidable circumstances students should refer to Disruption to Studies Policy.
Penalties
6 marks (out of 30) will be deducted for each (calendar) day late.
Due: Formal examination period
Weighting: 45%
Description
Two (2) hours plus 10 min reading time. To be held in the University Examination Period for Session 2, 2015.
Classes
Lectures and tutorials are scheduled in the same day. The tutorials will complement lectures by providing opportunities to develop in detail some of the concepts and techniques. Students are expected to come prepared to lectures and tutorials.
The timetable for classes for ECON861 is on the University web site at: https://timetables.mq.edu.au/2015/
Required and Recommended Texts and/or Materials
The textbook is:
B. Sorensen and H.J. Whitta-Jacobsen – Introducing Advanced Macroeconomics (2010 – second edition), McGraw Hill (referred to as SWJ).
The required text can be purchased from the Macquarie University Co-op Bookshop. They are also available at the Macquarie Library.
Technology Used and Required
Lecture slides, tutorial questions and answers will be available on ilearn.
Topic 1
Exogenous growth: the Solow model and extensions
Topic 2
Endogenous growth
Topic 3
R&D based growth models
Topic 4
Unemployment
Topic 5
Facts about business cycles. Investment and asset prices
Topic 6
Consumption and aggregate demand
Topic 7
The AS-AD model
Topic 8
Stabilisation policy
Topic 9
Limits to stabilization policy: Credibility and Uncertainty
Topic 10
The AS-AD model in the open economy
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.
Macquarie University students have a responsibility to be familiar with the Student Code of Conduct: https://students.mq.edu.au/support/student_conduct/
Results shown in iLearn, or released directly by your Unit Convenor, are not confirmed as they are subject to final approval by the University. Once approved, final results will be sent to your student email address and will be made available in eStudent. For more information visit ask.mq.edu.au.
Macquarie University provides a range of support services for students. For details, visit http://students.mq.edu.au/support/
Learning Skills (mq.edu.au/learningskills) provides academic writing resources and study strategies to improve your marks and take control of your study.
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