6 points, SCA Band 3, 0.125 EFTSL
Postgraduate - Unit
Refer to the specific census and withdrawal dates for the semester(s) in which this unit is offered.
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Co-requisites
Students must be enrolled in course 3194.
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%
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.
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