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Advanced Macroeconomics (ECON40002)

HonoursPoints: 12.5On Campus (Parkville)

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Year of offer2019
Subject levelHonours
Subject codeECON40002
Semester 1
FeesSubject EFTSL, Level, Discipline & Census Date

This subject presents recent developments in macroeconomics. There will be a mix of theory and applications. The main theories to be covered may include overlapping generations models, dynamic optimisation, real business cycle theory, intertemporal open economy models and the theory of economic growth. Various theories will be illustrated using examples drawn from domestic and international policy issues, as appropriate.

Intended learning outcomes

  • Explain how macroeconomic researchers identify issues in macroeconomics that are important research topics
  • Explain some of the techniques used by macroeconomic researchers to create knowledge;
  • Evaluate the contribution of some recently created knowledge in macroeconomics;
  • Synthesise some of the recently created knowledge in macroeconomics;
  • Apply macroeconomic theory to analyse the potential of macroeconomic policy to improve economic welfare;
  • Collaborate with others to present the content of a recent article on macroeconomics from a professional journal;
  • Analyse macroeconomic material presented by the lecturer and other students;
  • Explain contemporary issues in macroeconomics;
  • Describe the role and limitations of government in improving individual welfare.

Generic skills

  • High level of development: oral communication; written communication; collaborative learning; team work; application of theory to practice; critical thinking; synthesis of data and other information; evaluation of data and other information.

  • Moderate level of development: problem solving; interpretation and analysis; accessing data and other information from a range of sources; receptiveness to alternative ideas.

  • Some level of development: statistical reasoning; use of computer software.

Last updated: 26 July 2019