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Macroeconomics II (ECON90014)

Graduate courseworkPoints: 12.5On Campus (Parkville)

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Overview

Year of offer2017
Subject levelGraduate coursework
Subject codeECON90014
Campus
Parkville
Availability
Semester 2
FeesSubject EFTSL, Level, Discipline & Census Date

This subject builds on the work covered in ECON90003 Macroeconomics. The focus is on providing a detailed coverage of particular topics of contemporary importance. Topics covered may include:

  • Macroeconomic dynamics;
  • Macroeconomic models of the open economy;
  • Economic growth;
  • Credit rationing;
  • The monetary transmission mechanism;
  • Irreversibility and investment;
  • Problems in desinging and implementing macroeconomic policies;
  • Analyses of unemployment and the labour market; and
  • Consumption theory.

Intended learning outcomes

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

  • Solve differential and difference equations and apply these solutions to explain possible macroeconomic outcomes;
  • Apply basic dynamic techniques to macroeconomic models in order to solve for short-run and long-run outcomes;
  • Apply the techniques of static and dynamic optimisation to solve macroeconomic problems;
  • Apply dynamic macroeconomic models to explain likely economic outcomes in the short-run, in the long-run and in the transition from short-run to long-run equilibria;
  • Use optimisation techniques to derive theoretical models that can explain the behaviour of economic agents;
  • Integrate theoretical models based on optimising behaviour into full-scale models of the macro-economy;
  • Explain some techniques economists use to empirically evaluate macroeconomic models.

Generic skills

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

  • Evaluation of ideas, views and evidence
  • Synthesis of ideas, views and evidence
  • Strategic thinking
  • Critical thinking
  • Application of theory to economic policy and business decision making
  • Summary and interpretation of information
  • Statistical reasoning
  • Problem solving skills
  • Collaborative learning and teamwork
  • Written communication

Last updated: 16 August 2017