Leader: Dr Ratbek Dzhumashev

Offered

Clayton First semester 2008 (Day)

Synopsis

Underpinnings of modern macroeconomics basic to models of growth and cyclical fluctuations as well as models of monetary and fiscal policies. Topics include neoclassical and endogenous growth theories; overlapping generations models with and without money; policy ineffectiveness issues; equilibrium business cycle as well as traditional Keynesian models of fluctuations; and models of incomplete nominal adjustment such as those of New-Keynesian and the Lucas-Supply variety.

Objectives

The learning goals associated with this unit are to:

• understand the basic theoretical structures common to modern dynamic macroeconomics. In particular, critical analysis of the economic reasons underlying the formation of policy and movements of various macro-aggregates
• understand the key determinants affecting economic growth and fluctuations
• enhance understanding of the basic theoretical approaches employed in specialist fields such as international economics, economic development/growth, applied general equilibrium and financial economics.

Assessment

Within semester assessment: 60%
Examination (2 hours): 40%

Contact hours

3 hours per week

Prerequisites

ECC4660