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

Keynesian macroeconomics; the open-economy, IS-LM framework and the aggregate demand-aggregate supply framework as a basis for more advanced macroeconomic analysis; principles of monetary and fiscal policy and problems of implementation; alternative theories of aggregate supply; new classical macroeconomics and the implications of imperfect information; new Keynesian macroeconomics and the implications of labour market rigidities; explaining and correcting inflation and unemployment.

Objectives

The learning goals associated with this unit are to:

1. analyse systematically the forces that determine changes in macroeconomic performance and living standards in Australia
2. understand the relationship between the domestic economy and the international economic environment, as reflected in the behaviour of the balance of payments and exchange rates
3. appraise critically the issues underlying important contemporary policy debates in Australia and elsewhere
4. appreciate the nature and relevance of some significant recent developments in macroeconomics
5. engage in rigorous economic analysis.

Assessment

Within semester assessment: 20%
Examination (2 hours): 80%

Chief examiner(s)

Siew-Ling Yew (Semester 1)
Michael White (Semester 2)

Contact hours

3 hours per week

Prerequisites

ECC1100 or ECC2100

Prohibitions

ECC2010, ECC9010