Macroeconomic Techniques (ECON40005)

HonoursPoints: 12.5Not available in 2025

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Overview

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Introduction to recent developments in macroeconomics. Students will learn how to formulate and solve stochastic dynamic economic models and to apply these techniques to a number of substantive issues in consumption, asset pricing, business cycle theory, monetary economics, and labour economics.

Intended learning outcomes

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

  • Identify well posed economic questions;
  • Formulate dynamic macroeconomic models that could provide answers to well posed questions;
  • Apply existing empirical work to parameterize and calibrate such models and understand some methods of estimation;
  • Evaluate critically the performance of such models;
  • Develop an understanding of representative agent models and/or heterogeneous agent models;
  • Evaluate recent contributions to macroeconomics;
  • Analyse the interplay of questions, theory, and data.

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;
  • Accessing economic and other information;
  • Summary and interpretation of information;
  • Application of Windows software;
  • Using and designing computer programs;
  • Statistical reasoning;
  • Problem solving skills;
  • Collaborative learning and teamwork;
  • Negotiation and bargaining;
  • Written and oral communication.

Last updated: 4 March 2025

Eligibility and requirements

Prerequisites

Admission into or selection of one of the following:

  • BH-COM Bachelor of Commerce (Degree with Honours)
  • Economics specialisation (formal) in the BH-ARTS Bachelor of Arts (Degree with Honours)

AND

All of

Code Name Teaching period Credit Points
ECON30020 Mathematical Economics
Semester 2 (On Campus - Parkville)
 12.5
ECON40002 Advanced Macroeconomics
Semester 1 (On Campus - Parkville)
 12.5

Corequisites

None

Non-allowed subjects

Code Name Teaching period Credit Points
ECON90021 Macroeconomic Techniques
Not available in 2025
 12.5

Recommended background knowledge

Please refer to Prerequisites and Corequisites.

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: 4 March 2025

Assessment

DescriptionTimingPercentage

Mid-semester examination

  • 1.5 hours
Mid semester20%

Class assignments of up to 3000 words

  • 3000 words (total)
30%

End-of-semester examination

  • 3 hours
Hurdle requirement: To pass this subject students must pass the end of semester examination.		During the examination period50%

Last updated: 4 March 2025

Dates & times

Not available in 2025

Time commitment details

170 Hours

Last updated: 4 March 2025

Further information

  • Texts

    Prescribed texts

    You will be advised of prescribed texts by your lecturer.

  • 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: 4 March 2025