Postgraduate - UnitECC5660 - Macroeconomic theory

This unit entry is for students who completed this unit in 2014 only. For students planning to study the unit, please refer to the unit indexes in the the current edition of the Handbook. If you have any queries contact the managing faculty for your course or area of study.

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6 points, SCA Band 3, 0.125 EFTSL

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

Level	Postgraduate
Faculty	Faculty of Business and Economics
Organisational Unit	Department of Economics
Offered	Clayton First semester 2014 (Day)
Coordinator(s)	Professor Bruce Preston

Synopsis

Underpinnings of modern macroeconomics basic to models of growth and cyclical fluctuations as well as models of monetary and fiscal policies. Topics include neoclassical and endogenous growth theories; overlapping generations models with and without money; policy ineffectiveness issues; equilibrium business cycle as well as traditional Keynesian models of fluctuations; and models of incomplete nominal adjustment such as those of New-Keynesian and the Lucas-Supply variety.

Outcomes

The learning goals associated with this unit are to:

develop familiarity with the mathematical tools and techniques of modern macroeconomic theory
understand the economics of growth and business cycle fluctuations
appreciate the role of economic policy in the short and long-run
enhance understanding of the basic theoretical approaches employed in specialist fields such as international economics, economic development/growth, dynamics stochastic general equilibrium and financial economics.

Assessment

Within semester assessment: 40%
Examination: 60%

Chief examiner(s)

Professor Bruce Preston

Workload requirements

Minimum total expected workload equals 144 hours per semester

Co-requisites

Students must be enrolled in course code 3194 or 4427 to undertake this unit