Monash University Handbook 2010 Undergraduate - Unit

Synopsis

Keynesian macroeconomics; the open-economy, IS-LM framework and the aggregate demand-aggregate supply framework as a basis for more advanced macroeconomic analysis; principles of monetary and fiscal policy and problems of implementation; alternative theories of aggregate supply; new classical macroeconomics and the implications of imperfect information; new Keynesian macroeconomics and the implications of labour market rigidities; explaining and correcting inflation and unemployment.

Objectives

The learning goals associated with this unit are to:

1. analyse systematically the forces that determine changes in macroeconomic performance and living standards in Australia
2. understand the relationship between the domestic economy and the international economic environment, as reflected in the behaviour of the balance of payments and exchange rates
3. appraise critically the issues underlying important contemporary policy debates in Australia and elsewhere
4. appreciate the nature and relevance of some significant recent developments in macroeconomics
5. engage in rigorous economic analysis.

Assessment

Within semester assessment: 20%
Examination (2 hours): 80%

Chief examiner(s)

Siew Ling Yew

Contact hours

Two 1-hour lectures and one 1-hour tutorial per week

Prerequisites

ECC1100

Prohibitions

ECC9010, ETC2110