Authorised by Academic Registrar, April 1996
Objectives On completion of this subject students should be familiar with the way in which economists apply economic theory and institutional knowledge of relevant parts of the economy to analyse government macroeconomic policy options, and to make recommendtions on policy actions; be able to understand and critically evaluate current policy debate on issues of macroeconomic policy; and be able to evaluate the contributions and limitations of economic analysis for helping to understand and to evaluate macroeconomic policy options.
Synopsis This subject builds on the first-year compulsory core economic subjects to provide a more in-depth evaluation of macroeconomic issues. The issues include economic growth and inflation in a global context; international comparisons of policy and performance; objectives of monetary policy and central bank independence; forecasting and practical problems in policy making; financial markets and economic indicators. Extensive use will be made of Australian and international databases to monitor and analyse macroeconomic developments in a number of countries.
Assessment In-course assessment: 40% + Examination (3 hours): 60%