Unit convenor and teaching staff |
Unit convenor and teaching staff
Unit Convenor
Natalia Ponomareva
Contact via 98506194
E4A 428
Wednesday 3-4pm
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Credit points |
Credit points
4
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Prerequisites |
Prerequisites
ECON633 or ECON649
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Corequisites |
Corequisites
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Co-badged status |
Co-badged status
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Unit description |
Unit description
The objective of this unit is to examine selected issues in international monetary economics. We will look at models of money and inflation and analyse the role of monetary and fiscal policies. We will also consider theories of exchange rate determination and models of currency crises. In addition, we will look at the issues of external debt and optimal currency areas. Finally, we will discuss selected macroeconomic puzzles.
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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 | Hurdle | Due |
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1. Class Test | 25% | No | Week 7, in class |
2. Essay | 20% | No | Week 9 |
3. Group presentation | 15% | No | Week 12 and 13 |
4. Final Examination | 40% | No | Examination period |
Due: Week 7, in class
Weighting: 25%
Your class test is 1 hour 20 minutes plus 10 minutes reading time. It will be based primarily on questions along the lines of the numeric/short answer tutorial questions on lectures presented from weeks 1 to 5 and will contain some multiple choice questions.
If you miss the test due to illness or misadventure you should apply for disruption of studies. If the application is approved some alternative assessment task will be offered.
Due: Week 9
Weighting: 20%
Write an 1500 word summary and evaluation of an academic paper on international monetary policy. The list of papers to choose from will be provided in week 3. By “review essay” we mean a summary in your own words of the article you have chosen to review, together with an appraisal of it. Choose your own preferred proportions of summary and appraisal. You will receive a slightly higher mark if, other things equal, the article you choose to review is comparatively difficult. Your bibliography need not be extensive. Keep a copy of your essay.
You need to submit a hard copy of your assignment in Week 9's class and a soft copy to turnitin. No extensions will be granted. There will be a deduction of 10% of the total available marks made from the total awarded mark for each 24 hour period or part thereof that the submission is late (for example, 25 hours late in submission – 20% penalty). This penalty does not apply for cases in which an application for disruption of studies is made and approved.
Due: Week 12 and 13
Weighting: 15%
You will be allocated to a group in week 4. You need to choose a topic that interests you in either international economics or monetary policy, and consult with your unit convenor about your choice by week 6 (5th April). If you fail to do so you will lose all the marks for this assessment. If there is more than one group that wants to present on the same topic, then the topic will be allocated to the group that first emailed their choice to the unit convenor.
Each group will have 20 minutes to present, followed by 5-10 minutes discussion with your fellow students and the lecturer. If you choose a topic that relates to an event, please discuss the background, how the event evolved over time and what were the policies implemented. If you choose a topic that relates to an issue, please introduce the background of the issue. Regardless of your topic, you should discuss potential policy implications and your understanding of the topic. All members of the group are expected to conduct part of the presentation and participate in the discussion.
This assessment accounts for 15% of the total mark. Out of this 15%, 10% will be allocated to the presentation (with 5% being awarded for group work and 5% for individual presentation) and 5% will be allocated to the class participation (this is an individual mark), eg: discussions on others' presentations. To secure the 5% for discussion, those who participated in the discussion of others' presentations need to record their name and ID with the lecturer at the end of lecture in both weeks 12 and 13 (2.5% each).
The actual presentation will take place in weeks 12 and 13 in the lecture. However, all groups need to email their presentation slides to the unit convenor by 5pm on Friday in week 11 (26th of May). Groups that fail to do so will lose 5% (out of 15%) of their mark. The following list contains sample topics that may interest you:
Due: Examination period
Weighting: 40%
The closed book final examination will be held during the official examination period from 13 to 30 June. The examination will be based on all lecture and tutorial material from the course, with an emphasis on material presented after the mid-session class test.
If students do not sit the final they will get 0 for the exam. That penalty does not apply in cases where an application is made under disruption to studies and the application is approved. In that case the student will be required to sit a supplementary exam
Required and Recommended Texts and/or Materials
Textbook
The prescribed text for the unit is: Paul Krugman, Maurice Obstfeld and Marc Melitz, International Economics: Theory and Policy,10th edition, Pearson. We will only be using Parts 3 & 4 of this text, i.e. we will not use Parts 1 & 2.
Unit Web Page
Students will be able to access the unit web page by using their normal university Student ID Number and Password on http://learn.mq.edu.au. Further help may also be provided by the Learning and teaching Centre: http://www.mq.edu.au/learningandteachingcentre.
Tentative list of topics:
1. NATIONAL INCOME ACCOUNTING &THE BALANCE OF PAYMENTS
2. EXCHANGE RATES & THE FOREIGN EXCHANGE MARKET: AN ASSET APPROACH
3. MONEY, INTEREST RATES, AND EXCHANGE RATES
4. PRICE LEVELS &THE EXCHANGE RATE IN THE LONG RUN
5. OUTPUT & THE EXCHANGE RATE IN THE SHORT RUN
6. FORECASTING EXCHANGE RATE
7. FIXED EXCHANGE RATES & FOREIGN EXCHANGE INTERVENTION
8. INTERNATIONAL MONETARY SYSTEMS: AN HISTORICAL OVERVIEW
9. OPTIMUM CURRENCY AREAS & THE EUROPEAN EXPERIENCE
10. FINANCIAL GLOBALIZATION: OPPORTUNITY & CRISIS
Week 12 (31 May) GROUP PRESENTATION 1
Week 13 (7 Jun) GROUP PRESENTATION 2 & REVIEW
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_2016.html
Grade Appeal Policy http://mq.edu.au/policy/docs/gradeappeal/policy.html
Complaint Management Procedure for Students and Members of the Public http://www.mq.edu.au/policy/docs/complaint_management/procedure.html
Disruption to Studies Policy (in effect until Dec 4th, 2017): http://www.mq.edu.au/policy/docs/disruption_studies/policy.html
Special Consideration Policy (in effect from Dec 4th, 2017): https://staff.mq.edu.au/work/strategy-planning-and-governance/university-policies-and-procedures/policies/special-consideration
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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