Please note:

ECON3054/8071 will be taught intensively for the first half of Semester 1 in 2009. There will be an exam before the course finishes up in the last week before the Easter break. Revised course outline will be listed in late January on the college website.

The course is designed to investigate some key issues and events in the modern international economy through the use of simple quantitative general equilibrium analysis. All graduates of the ANU who practice as economists, even if they never become involved in modelling the Australian or world economies, will need to interpret the results from general equilibrium and related models. Such models as the Monash Model, the McKibbin "G-Cubed" Model, the GTAP Model, the Murphy Model and the ABARE GTEM Model are in the constant use in branches of government and the private sector to analyse shocks to the economy, including prospective changes in government policies at home and abroad. The course introduces students to advanced analysis of the open economy and to the construction and use of the types of models that make that analysis possible.

Two lectures per week with tutorials.

ECON2101/2111 Microeconomics 2 (P or H)

There will be no text as such, though readings will be assigned for each topic. Three volumes drawn on frequently will be:

Dixon, P.B., B.R. Parmenter, A.A. Powell and P.J. Wilcoxen, Notes and Problems in Applied General Equilibrium Analysis, Amsterdam: North Holland 1992.

Dixon, P.B. and M.T. Rimmer, Dynamic General Equilibrium Modelling for Forecasting and Policy: A Practical Guide and Documentation of Monash, Amsterdam: North Holland, 2002.

Hertel, T.W. (1997), Global Trade Analysis Using the GTAP Model, Cambridge University Press, New York, 1997.

For further information please refer to http://ecocomm.anu.edu.au/courses/course.asp?code=ECON3054