Monash University Handbook 2010 Postgraduate - Unit

Synopsis

Contemporary macroeconomics and recent policy debates, including market clearing and long-run equilibrium; classical dichotomy; money in the global economy; aggregate demand and price rigidity, microfoundations of macroeconomics, disequilibrium models; stock-flow interactions; wealth effects; rational expectations; policy ineffectiveness and Ricardian equivalence; money and credit; exchange rate regimes; new Keynesian macroeconomics; comovements of macro variables and macroeconomic forecasting.

Objectives

The learning goals associated with this unit are to:

• be aware of major recent developments in the field of macroeconomics
• have a basic understanding of the concepts and techniques of macroeconomic forecasting using an applied general equilibrium (AGE) model
• be aware of the major developments in the field of macroeconomics in the past ten years
• be familiar with different macroeconomic models used for policy making and their points of emphasis
• be able to make judicious policy predictions and undertake independent research studies.

Assessment

Within semester assessment: 30%
Examination (3 hours): 70%

Chief examiner(s)

Stephen Miller

Contact hours

3 hours per week

Prohibitions

ECC4660