Unit convenor and teaching staff |
Unit convenor and teaching staff
Natalia Ponomareva
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Credit points |
Credit points
10
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Prerequisites |
Prerequisites
20cp at 2000 level including ECON204 or ECON2004
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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 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. |
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:
Late Assessment Submission Penalty (written assessments)
Unless a Special Consideration request has been submitted and approved, a 5% penalty (of the total possible mark) will be applied each day a written assessment is not submitted, up until the 7th day (including weekends). After the 7th day, a grade of ‘0’ will be awarded even if the assessment is submitted. Submission time for all written assessments is set at 11.55pm. A 1-hour grace period is provided to students who experience a technical concern.
For any late submissions of time-sensitive tasks, such as scheduled tests/exams, performance assessments/presentations, and/or scheduled practical assessments/labs, students need to submit an application for Special Consideration.
Name | Weighting | Hurdle | Due |
---|---|---|---|
Mid-session class test | 25% | No | Week 7 |
Essay assignment | 20% | No | Week 10 |
Participation | 5% | No | Week 1- Week 13 |
Final examination | 50% | No | University Examination Period |
Assessment Type 1: Quiz/Test
Indicative Time on Task 2: 15 hours
Due: Week 7
Weighting: 25%
The 80 minute online class test will be based on the lecture material and exercises covered in weeks 1 to 6.
Assessment Type 1: Report
Indicative Time on Task 2: 20 hours
Due: Week 10
Weighting: 20%
Provide an answer to questions of an analytical nature and/or write a short essay/report which might require the use of Australian data.
Assessment Type 1: Participatory task
Indicative Time on Task 2: 0 hours
Due: Week 1- Week 13
Weighting: 5%
Students are expected to participate in live seminars and the forum
Assessment Type 1: Examination
Indicative Time on Task 2: 35 hours
Due: University Examination Period
Weighting: 50%
A two-hour open book examination will be held during the University Examination Period, and will be on based on material covered in lectures from weeks 1 to 13 (inclusive), with an emphasis on material presented after the class test.
1 If you need help with your assignment, please contact:
2 Indicative time-on-task is an estimate of the time required for completion of the assessment task and is subject to individual variation
There will be a pre-recorded lecture posted on iLearn each Friday. There will be a 1.5 hour live session each Friday. The timetable for classes can be found on the University web site at: https://timetables.mq.edu.au/2022/
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.
The prescribed text for the unit is:
Charles Jones, Macroeconomics International Student Edition, 5th edition
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:
Course material is available on the learning management system (iLearn).
The following information will be available on iLearn:
Unit Outline | Announcements |
Lecture slides and exercises | Lecture exercises solutions |
Information on Assessments | Contact details |
Consultation hours | Other relevant material |
You are strongly encouraged to regularly visit the website and use it as a resource centre to assist with your learning.
Unit Schedule
Week |
Lecture |
1 |
Trends and Cycles in Macroeconomic Data. Economic Shocks and Short-Run Fluctuations in Economic Activity. |
2 |
Contemporary Monetary Policy. The Operating Procedures of the Reserve Bank of Australia and Inflation Targeting. |
3 |
Stabilization Policy and the AS/AD Framework. Stabilization Policy and Taylor Rules. |
4 |
The Global Financial Crisis. |
5 |
Financial Crises (taught by David Orsmond). |
6 |
Financial Regulation (taught by David Orsmond). |
7 |
Class Test |
|
Mid-session Break |
8 |
Consumption. |
9 |
Fiscal Policy and Government Debt. |
10 |
Exchange Rate Regimes and Macroeconomic Policy. Assignment is due |
11 |
Economic Growth and its Determinants. |
12 |
Cryptocurrencies. |
13 |
Macroeconomic Policy: The Current Consensus and Unresolved Issues. |
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Students seeking more policy resources can visit Student Policies (https://students.mq.edu.au/support/study/policies). It is your one-stop-shop for the key policies you need to know about throughout your undergraduate student journey.
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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
At Macquarie, we believe academic integrity – honesty, respect, trust, responsibility, fairness and courage – is at the core of learning, teaching and research. We recognise that meeting the expectations required to complete your assessments can be challenging. So, we offer you a range of resources and services to help you reach your potential, including free online writing and maths support, academic skills development and wellbeing consultations.
Macquarie University provides a range of support services for students. For details, visit http://students.mq.edu.au/support/
The Writing Centre provides resources to develop your English language proficiency, academic writing, and communication skills.
The Library provides online and face to face support to help you find and use relevant information resources.
Macquarie University offers a range of Student Support Services including:
Got a question? Ask us via AskMQ, or contact Service Connect.
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Unit information based on version 2022.03 of the Handbook