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Macroeconomics (ECON90003)

Graduate courseworkPoints: 12.5On Campus (Parkville)

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Overview

Availability
Semester 1
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This is an advanced course in macroeconomic theory, with the intention of introducing students to frontier techniques. Topics may include: techniques of dynamic optimization, dynamic optimization theory, economic growth, optimal taxation, unemployment, and money.

Intended learning outcomes

On successful completion of this subject, students should be able to:



  • Solve first-order and second-order ordinary differential equations and apply these solutions to explain possible macroeconomic outcomes;
  • To apply basic dynamic techniques to macroeconomic models in order to solve for short-run and long-run outcomes;
  • To apply the techniques of static and dynamic optimisation to solve macroeconomic problems including, in particular, to solve the intertemporal problem of the representative firm and to solve the intertemporal problem of the optimising consumer;
  • To integrate the model of the representative firm and the optimising consumer into a representative agent model of the economy;
  • To apply standard dynamic techniques to growth theory models.

Generic skills

On successful completion of this subject, students should have improved the following generic skills:

  • The use of dynamic macroeconomic models;
  • The explanation of likely economic outcomes in the short-run, in the long-run and in the transition from short-run to long-run equilibria;
  • The use of optimisation techniques to derive theoretical models that can explain the behaviour of economic agents;
  • The integration of theoretical models based on optimising behaviour into full-scale models of the macro-economy;
  • The improvement of problem solving skills, through completing class assignments.

Last updated: 3 November 2022

Eligibility and requirements

Prerequisites

A major sequence in economics will normally be required before this subject is taken.

Completion of 100 points in the Master of Economics

Corequisites

None

Non-allowed subjects

None

Inherent requirements (core participation requirements)

The University of Melbourne is committed to providing students with reasonable adjustments to assessment and participation under the Disability Standards for Education (2005), and the Assessment and Results Policy (MPF1326). Students are expected to meet the core participation requirements for their course. These can be viewed under Entry and Participation Requirements for the course outlines in the Handbook.

Further details on how to seek academic adjustments can be found on the Student Equity and Disability Support website: http://services.unimelb.edu.au/student-equity/home

Last updated: 3 November 2022

Assessment

Additional details

  • 3-hour end-of-semester examination (50%)
  • Four 500-word assignments (5% each) due in weeks 4, 7, 10 and 12 and
  • 1.5 hour mid-semester examination (30%)

Note: Successful completion of this subject requires a pass (50%) in the final exam.

Last updated: 3 November 2022

Dates & times

  • Semester 1
    Principal coordinatorChris Edmond
    Mode of deliveryOn Campus (Parkville)
    Contact hoursSeminars or lectures and tutorials totalling three hours per week
    Total time commitment170 hours
    Teaching period27 February 2017 to 28 May 2017
    Last self-enrol date10 March 2017
    Census date31 March 2017
    Last date to withdraw without fail 5 May 2017
    Assessment period ends23 June 2017

    Semester 1 contact information

    Email: cedmond@unimelb.edu.au

Time commitment details

Estimated total time commitment of 170 hours per semester

Last updated: 3 November 2022

Further information

  • Texts

    Prescribed texts

    You will be advised of prescribed texts by your lecturer.

  • Related Handbook entries

    This subject contributes to the following:

    TypeName
    CourseMaster of Economics
  • Available through the Community Access Program

    About the Community Access Program (CAP)

    This subject is available through the Community Access Program (also called Single Subject Studies) which allows you to enrol in single subjects offered by the University of Melbourne, without the commitment required to complete a whole degree.

    Entry requirements including prerequisites may apply. Please refer to the CAP applications page for further information.

  • Available to Study Abroad and/or Study Exchange Students

    This subject is available to students studying at the University from eligible overseas institutions on exchange and study abroad. Students are required to satisfy any listed requirements, such as pre- and co-requisites, for enrolment in the subject.

Last updated: 3 November 2022