Classes

Students are expected to attend the weekly three-hour class, comprising two-hour lectures using a mix of theory and practical applications, and one-hour class discussions. All materials discussed in class are examinable. 

There is no prescribed textbook for the unit. Reading materials will be uploaded into ilearn. 

Resources useful for this unit:

https://imf.org

https://worldbank.org

https://rba.gov.au/

https://www.bis.org/

https://www.wsj.com/asia

https://www.ft.com/

https://www.theaustralian.com.au/business

Technology Used and Required

The lectures of Econ2014 will be recorded on the University’s i-Lecture facility. This can be found at: http://ilearn.mq.edu.au

The iLearn facility at this same site will also be the main vehicle through which unit communications will be made, and via which students can communicate with each other.

Learning and Teaching Activities

As noted above, this unit is taught via three hours of lectures per week. In terms of student activity in relation to this, it is suggested that lecture slides and/or any readings be read in advance. Meanwhile, keeping up to speed on events impacting financial institutions and markets will be highly advantageous.

This unit will be delivered in a seminar format, in which the lecturers will talk about the issues evolving around the below modules (subject to change, and not necessarily in the order listed), followed by an hour of class discussion.

In each Module, we will start with theoretical background, then look at the issues in the contemporary context including case studies, applications and implications. 

Readings and lecture notes will be from a series of research papers from peers-reviewed journals, central banks’ working paper series, the IMF, the World Bank, etc.

Module 1: The Importance of Macroeconomic Stability

Module 2: The Global Financial Crisis and Financial Stability challenges

Module 3: Global Monetary Regimes: from Bretton Woods to Libra

Module 4: Unconventional Monetary Policy Tools and Monetary Transmission

Module 5: Government Debt and Modern Monetary Theory

Module 6: Debt accumulation and financial crises in emerging market and developing countries

Module 7: The Coexistence of Low Unemployment and Low Inflation

Module 8: The Determinants of Stagnant Wage Growth

Module 9: Currency wars: Race to the Bottom

Module 10: Global Trade and Challenges