IDEC8008 Open Economy Macroeconomics, Finance, and Development
| Offered By | International and Development Economics Program |
|---|---|
| Academic Career | Graduate Coursework |
| Course Subject | International and Developmental Economics |
| Offered in | First Semester, 2012, First Semester, 2013, and Second Semester, 2013 |
| Unit Value | 6 units |
| Course Description |
This is a graduate level course on international macroeconomics. The course is aimed at (i) understanding basic notions of the macroeconomics, (ii) being equipped with the basic analytical tools (models) for policy analysis both in the closed economy and the open economies, and (iii) being able to consider the real-world problem, such as the recent financial crisis, through the lens of these tools. Central issues considered in the course include (i) capital flows, (ii) international transmission of shocks, and (iv) the role of stabilization policy. |
| Learning Outcomes |
On successful completion of this course, students will be able to understand the analytics behind key macroeconomic models and understand how policy can affect these outcomes. |
| Indicative Assessment |
There will be two in-class (10%*2), mid-term (30%) and final exams (50%). |
| Workload |
2 two-hour lecture and one hour of tutorials. Depending on prior background the student should expect to spend around 6-10 hours per week on the course material. |
| Course Classification(s) | AdvancedAdvanced courses are designed for students having reached 'first degree' level of assumed knowledge, which provide a deep understanding of contemporary issues; or 'second degree' and higher levels of knowledge; or for transition to research training programs. and SpecialistSpecialist courses are designed for students having reached 'first degree' level of assumed knowledge, which provide for the acquisition of specialist skills; or 'second degree' and higher level of knowledge; or for transition to research training programs; or knowledge associated with professional accreditation. |
| Areas of Interest | Economics |
|
Assumed Knowledge and Required Skills |
Students are expected to be familiar with intermediate macroeconomic theory and with undergraduate mathematical economics. |
| Prescribed Texts |
The main text books (notes) are as follows: Schmitt-Grohe, Stephanie and Martin Uribe, 2011, International Macroeconomics - downloadable at http://www.columbia.edu/~mu2166/UIM/notes.pdf.
Corsetti, Giancarlo and Paolo Pesenti, 2009, “The Simple Geometry of Transmission and Stabilization in Closed and Open Economies, in NBER International Seminar on Macroeconomics 2007 - downloadable at http://www.nber.org/chapters/c3000.pdf. |
| Indicative Reading List |
Useful references mentioned below are as follows: Barro, Robert, and Xavier, Sala-I-Martin, 1995, Economic Growth, McGrow Hill, Cochrane, John, 2001, Asset Pricing, Princeton University Press, Enders, Walter, 1995, Applied Econometric Time Series, Wiley, Jones, Charles, Introduction to Economic Growth, Norton, Obstfeld, Maurice and Kenneth Rogoff, 1996, Foundations of International Macroeconomics, MIT Press, Romer, David, 2006, Advanced Macroeconomics, McGrawHill, Walsh, Carl, 2003, Monetary Theory and Policy, MIT Press, |
| Programs | Master of Environmental and Resource Economics, Master of Environmental and Resource Economics, Master of International and Development Economics, Master of International and Development Economics, Master of International Trade and Economic Relations, and Master of International Trade and Economic Relations |
| Other Information |
Delivery Mode: on Campus |
| Academic Contact | Associate Professor Ippei Fujiwara |
The information published on the Study at ANU 2012 website applies to the 2012 academic year only. All information provided on this website replaces the information contained in the Study at ANU 2011 website.
