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

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:

1. be familiar with the Post Keynesian framework of the economy, which draws on the work of J M Keynes and M Kalecki
2. 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
3. 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