Unit convenor and teaching staff |
Unit convenor and teaching staff
Unit Convenor
Natalia Ponomareva
Contact via natalia.ponomareva@mq.edu.au
E4A 428
TBA
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Credit points |
Credit points
4
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Prerequisites |
Prerequisites
ECON633
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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. First, macroeconomic issues can be discussed in a way that is fully consistent with microeconomic behaviour. Second, 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 used to evaluate the theory we develop.
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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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Class test | 25% | No | Week 7 |
Assignment | 30% | No | Week 11 |
Final exam | 45% | No | Formal examination period |
Due: Week 7
Weighting: 25%
The class test is 1.5 hours plus 10 min reading time.
Students who miss the class test and are granted disruption to studies will have to sit a supplementary test.
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 23.
Penalties
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: 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, 2017.
There will be a supplementary final exam for students with approved disruption to studies.
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: http://students.mq.edu.au/student_admin/timetables
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.
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_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.
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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:
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:
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:
This unit gives you practice in applying research findings in your assignment and provides you with the background to conduct your own research.