units

ETC4430

Faculty of Business and Economics

18 September 2017 22 December 2024
Monash University

Undergraduate, Postgraduate - Unit

This unit entry is for students who completed this unit in 2015 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.

print version

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.

LevelUndergraduate, Postgraduate
FacultyFaculty of Business and Economics
Organisational UnitDepartment of Econometrics and Business Statistics
OfferedNot offered in 2015
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:

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

Assessment

Within semester assessment: 40%
Examination: 60%

Workload requirements

Minimum total expected workload to achieve the learning outcomes for this unit is 144 hours per semester typically comprising a mixture of scheduled learning activities and independent study. Independent study may include associated readings, assessment and preparation for scheduled activities. The unit requires on average three/four hours of scheduled activities per week. Scheduled activities may include a combination of teacher directed learning, peer directed learning and online engagement.

See also Unit timetable information

Chief examiner(s)

Professor John Madden