Course Description:

This course will acquaint students with contemporary modern macroeconomics. Key questions relating to long-terms prospects for the wealth of nations and the short-terms fluctuations in aggregate economic outcomes will be discussed. In addressing these questions, we will need to develop some analytical tools, learn about the modern approaches to macroeconomic modelling, and appreciate the importance of empirical regularities in informing modelling. We will also discuss the relevance of some of these models toward informing macroeconomic policy and business decision making. Students are expected to possess or have the aptitude for some formal mathematical thinking and analysis (at a minimal level of ECON6015 Optimisation Techniques for Economists).  

A student successfully completing this course should be able to:
• Understand key issues and questions in macroeconomics.
• Develop some idea about how to think about and solve current macroeconomic problems.
• 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 (some) numerical methods in modeling.
• Work independently, in teams, and to develop intellectual leadership.

Indicative Assessment:

The Assessment Structure is comprised of 

• Workshop group problem solving and/or presentations - 10%
• Mid-semester exam - 20%
• Final exam - 70%

3 hrs contact per week plus private study time.

At least an average of 65% (or equivalent) in the final two years of an Australian undergraduate degree with introductory level courses in Economics, Statistics and Econometrics

Please see Course Website