Undergraduate, Postgraduate - UnitETC4430 - Quantitative economic policy

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	Undergraduate, Postgraduate
Faculty	Faculty of Business and Economics
Organisational Unit	Department of Econometrics and Business Statistics
Offered	Not offered in 2014
Coordinator(s)	Professor John Madden

Synopsis

This unit covers the theoretical structure and application of computable general equilibrium (CGE) models. Topics include:

the derivation of the model's non-linear equation system
evaluation of coefficients and parameters, model closure, specification of economic shocks, solution techniques and interpretation of results.

During hands-on computing sessions, students will undertake simulations of a series of economic policy questions and analyse results.

Outcomes

The learning goals associated with this unit are to:

acquire an understanding of the main elements of the theoretical structure of a computable general equilibrium (CGE) model
acquire an understanding of how a CGE model is calibrated and implemented on computer
develop the ability to conduct basic simulations with a comparative-static CGE model
acquire skills in the analysis of the more readily interpretable model results in terms of model theory, data base, closure and shocks
develop an elementary understanding of the key features of dynamic CGE models.

Assessment

Within semester assessment: 40%
Examination: 60%

Chief examiner(s)

Professor John Madden

Workload requirements

3 hours per week