ECON8001 Topics in Economic Dynamics

Offered By	School of Economics
Academic Career	Graduate Coursework
Course Subject	Economics
Offered in	Second Semester, 2010 and Second Semester, 2011
Unit Value	6 units
Course Description	The course will consist of models involving dynamic decision processes with or without strategic interactions. We will cover an equal amount of theory and applications (examples) using either pen/paper and computers. Topics may include (i) dynamic models in macroeconomics with heterogeneous agents; and (ii) dynamic games with applications in macroeconomic policy, in industrial organisation, and in political economy. The tools and illustrative examples provide some insight into issues of wealth inequality over time, the roles of policy in affecting inequality, credibility of policy, evolution of firms and the dynamics of market structure, and the evolution of political institutions.
Learning Outcomes	A student who successfully passes this course is expected to possess the following ability to: Read and understand recent developments published in rigorous professional outlets. Distil complex dynamic economic problems or facts into a parsimonious and relevant modeling framework. This involves discerning what are important assumptions to make in modeling, when faced with a given issue to address. Understand the connection between assumptions made and the conclusions drawn. Appreciate the shortcomings of models and to provide alternative improvements. Construct logical arguments and provide economic explanations consistent with the workings of the model used. Use analytical and numerical methods in modeling. Work independently, in teams, and to develop intellectual leadership.
Indicative Assessment	The Assessment Structure comprises of problems sets and/or assignments and a final examination (with possibility of a 24-hour take-home component).
Workload	See Course Website
Areas of Interest	Economics
Requisite Statement	ECON8022 Macroeconomic Theory and ECON8014 Mathematical Techniques in Economics II
Recommended Courses	Prior completion of, or concurrent enrolment in, ECON8053 Strategic Thinking: An Introduction to Game Theory and ECON8038 Industrial Organisation is encouraged.
Programs	Master of Economics
Other Information	See Course Website
Academic Contact	School of Economics

The information published on the Study at ANU 2010 website applies to the 2010 academic year only. All information provided on this website replaces the information contained in the Study at ANU 2009 website.