Students
ECON3011 – Macroeconomic Policy
2020 – Session 2, Special circumstance
Notice
As part of Phase 3 of our return to campus plan, most units will now run tutorials, seminars and other small group learning activities on campus for the second half-year, while keeping an online version available for those students unable to return or those who choose to continue their studies online.
To check the availability of face to face activities for your unit, please go to timetable viewer. To check detailed information on unit assessments visit your unit's iLearn space or consult your unit convenor.
General Information
Download as PDF
| Unit convenor and teaching staff |
Unit convenor and teaching staff
Natalia Ponomareva
room 428 4 Eastern Road
TBA on iLearn
Amarjeet Kuar
|
|---|---|
| Credit points |
Credit points
10
|
| Prerequisites |
Prerequisites
20cp at 2000 level including ECON204 or ECON2004
|
| Corequisites |
Corequisites
|
| Co-badged status |
Co-badged status
|
| Unit description |
Unit description
This unit develops macroeconomic models with a focus on key contemporary issues such as persistent low inflation, interest rates, secular stagnation, alternative monetary policy frameworks, fiscal policy constraints, understanding financial crises, financial regulation and cryptocurrencies. Students will develop an understanding of the reasons for these problems, and how key policy institutions such as the RBA, APRA and Treasury are addressing them. |
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:
- ULO1: Analyse and explain macroeconomic policy in a general framework.
- ULO2: Appraise how monetary and fiscal policies are determined in the context of the current economic environment.
- ULO3: Critically evaluate the effectiveness of current macroeconomic policy in achieving stated goals.
General Assessment Information
Online quizzes will contain a set of multiple choice and/or short answer questions. Each quiz will have to be done in a set time window.
Two assignments will contain quantitative question and/or essay type questions. Each assignment will contain 2-3 parts, there will be different due dates for each part in order to allow for continuous assessment. Please note that short extensions will only be granted if you apply for special consideration and get it approved. Otherwise there will be a 15% deduction in mark for each calendar day late.
You are expected to actively participate in class activities both online and off-line. Details will be available on iLearn.
Report/presentation: you are expected to prepare a report on one of the contemporary research topics and present it in class as a small group. Details will be available on iLearn.
Assessment Tasks
| Name | Weighting | Hurdle | Due |
|---|---|---|---|
| Assignment | 50% | No | TBA on iLearn |
| Report/Presentation | 25% | No | TBA on iLearn |
| Online quiz | 20% | No | TBA on iLearn |
| Class participation | 5% | No | during the whole session |
Assignment
Assessment Type 1: Report
Indicative Time on Task 2: 35 hours
Due: TBA on iLearn
Weighting: 50%
Two assignments requiring quantitative and/or essay type responses.
On successful completion you will be able to:
- Analyse and explain macroeconomic policy in a general framework.
- Appraise how monetary and fiscal policies are determined in the context of the current economic environment.
- Critically evaluate the effectiveness of current macroeconomic policy in achieving stated goals.
Report/Presentation
Assessment Type 1: Report
Indicative Time on Task 2: 20 hours
Due: TBA on iLearn
Weighting: 25%
A group or individual report is to be presented live or in recording during one of the live zoom sessions
On successful completion you will be able to:
- Analyse and explain macroeconomic policy in a general framework.
- Appraise how monetary and fiscal policies are determined in the context of the current economic environment.
- Critically evaluate the effectiveness of current macroeconomic policy in achieving stated goals.
Online quiz
Assessment Type 1: Quiz/Test
Indicative Time on Task 2: 15 hours
Due: TBA on iLearn
Weighting: 20%
Two quizzes will be held during the session. The weight of each quiz is 10%.
On successful completion you will be able to:
- Analyse and explain macroeconomic policy in a general framework.
- Appraise how monetary and fiscal policies are determined in the context of the current economic environment.
Class participation
Assessment Type 1: Participatory task
Indicative Time on Task 2: 0 hours
Due: during the whole session
Weighting: 5%
Students are expected to participate in live Zoom sessions and the online forum
On successful completion you will be able to:
- Analyse and explain macroeconomic policy in a general framework.
- Appraise how monetary and fiscal policies are determined in the context of the current economic environment.
1 If you need help with your assignment, please contact:
- the academic teaching staff in your unit for guidance in understanding or completing this type of assessment
- the Writing Centre for academic skills support.
2 Indicative time-on-task is an estimate of the time required for completion of the assessment task and is subject to individual variation
Delivery and Resources
Classes
There will be a pre-recorded lecture material and a live zoom session for discussion of problems and questions related to the lecture material.
Prizes
VICTOR ARGY PRIZE FOR ECON3011
This prize commemorates Victor Argy who was Professor of Economics at Macquarie University from 1973 until his death in 1993. The prize, to the value of $350, is awarded for proficiency in ECON3011 and is open to all candidates proceeding to the degree of Bachelor.
Required and Recommended Texts and/or Materials
The prescribed text for the unit is:
Jones, Charles I., Macroeconomics, Fifth Edition, International Student Edition, Norton 2020.
Up-to-date commentaries and data on the Australian economy can be found in the following:
Reserve Bank of Australia, Bulletin, published monthly: http://www.rba.gov.au Department of the Treasury, Economic Roundup, AGPS, Canberra, published quarterly (available online at http://www.treasury.gov.au/)
Data relating to Australia and other countries are also available on the Internet. Useful sites include the following:
- ABS Time Series Service: http://www.abs.gov.au
- Budget Papers for Australia: http://www.treasury.gov.au/
- Reserve Bank of Australia: http://www.rba.gov.au
- National Bureau of Economic Research: http://www.nber.org/
Policies and Procedures
Macquarie University policies and procedures are accessible from Policy Central (https://staff.mq.edu.au/work/strategy-planning-and-governance/university-policies-and-procedures/policy-central). Students should be aware of the following policies in particular with regard to Learning and Teaching:
- Academic Appeals Policy
- Academic Integrity Policy
- Academic Progression Policy
- Assessment Policy
- Fitness to Practice Procedure
- Grade Appeal Policy
- Complaint Management Procedure for Students and Members of the Public
- Special Consideration Policy (Note: The Special Consideration Policy is effective from 4 December 2017 and replaces the Disruption to Studies Policy.)
Students seeking more policy resources can visit the Student Policy Gateway (https://students.mq.edu.au/support/study/student-policy-gateway). It is your one-stop-shop for the key policies you need to know about throughout your undergraduate student journey.
If you would like to see all the policies relevant to Learning and Teaching visit Policy Central (https://staff.mq.edu.au/work/strategy-planning-and-governance/university-policies-and-procedures/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/study/getting-started/student-conduct
Results
Results published on platform other than eStudent, (eg. iLearn, Coursera etc.) 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 or if you are a Global MBA student contact globalmba.support@mq.edu.au
Student Support
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Learning Skills (mq.edu.au/learningskills) provides academic writing resources and study strategies to help you improve your marks and take control of your study.
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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
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If you are a Global MBA student contact globalmba.support@mq.edu.au
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