Monash University Handbook 2011 Undergraduate - Unit

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

Synopsis

This unit examines the scope for policy to improve macroeconomic performance. It will cover: the cyclical behaviour of the economy; the role of monetary, fiscal and exchange rate policies in influencing economic acitivities; the implementation and operation of monetary policy; the relationship of exchange rates to monetary policy; major factors determining movements in interest rates and exchange rates in both the intermediate and long terms.

Objectives

The learning goals associated with this unit are to:

1. understand the importance of distinguishing between the short-run and long-run impacts of macroeconomic policy
2. understand the importance of and the differences between monetary, fiscal, and exchange rate policies.
3. be able to critically assess macroeconomic policy
4. understand the implementation and operation of monetary policy
5. be familiar with economic factors which are of major interest to bankers and others operating in the finance industry.

Assessment

Within semester assessment: 30%
Examination (2 hours): 70%.

Chief examiner(s)

Siang Ng

Contact hours

3 hours per week

Prohibitions

ECW2730