Faculty of Business and Economics

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Monash University

Monash University Handbook 2010 Postgraduate - Unit

6 points, SCA Band 3, 0.125 EFTSL

FacultyFaculty of Business and Economics
OfferedClayton First semester 2010 (Day)
Coordinator(s)Professor Jakob Madsen; Dr Siew-Ling Yew


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.


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.


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

Chief examiner(s)

Jakob Madsen

Contact hours

3 hours per week


Students must be enrolled in course code 3194 to undertake this unit