Monash University Handbook 2010 Undergraduate, Postgraduate - Unit

Synopsis

Topics include Keynes' aggregate demand and supply analysis and critique of automatic adjustment in the economy; the significance of an endogenous money supply for inflation; credit, speculation and financial instability; the national saving debate; investment and income distribution; the Phillips Curve and hysteresis.

Objectives

The learning goals associated with this unit are to:

• be familiar with the Post Keynesian framework of the economy, which draws on the work of J M Keynes and M Kalecki
• have a clear understanding of how the framework can be used to analyse a number of policy issues in Australia, including monetary policy, the roles of investment and saving, government budgetary strategies and income policies
• be able to critically analyse the framework through written work.

Assessment

Within semester assessment: 40%
Examination (3 hours): 60%

Chief examiner(s)

Michael White

Contact hours

3 hours per week