Monash University Handbook 2011 Undergraduate, Postgraduate - Unit

Refer to the specific census and withdrawal dates for the semester(s) in which this unit is offered.

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:

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

Assessment

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

Chief examiner(s)

Stephen Miller

Contact hours

3 hours per week

Prohibitions

ECX5466