Monetary Economics (ECON40013)

HonoursPoints: 12.5On Campus (Parkville)

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Overview

Availability
Semester 2
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An advanced introduction to modern monetary economics. Covers topics such as neoclassical monetary theory; price rigidities; interest rates, inflation targeting and central banking; rules versus discretion in monetary policy; microeconomic foundations of monetary economics. Both theoretical and empirical issues will be emphasised. Open economy aspects of monetary economics will be covered where appropriate.

Intended learning outcomes

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

  • Evaluate the main theories used in the study of monetary economics;
  • Use small analytic models to evaluate monetary theories;
  • Use quantitative evidence to evaluate the usefulness and limitations of monetary theories; and
  • Critically evaluate contemporary policy debates in the area of monetary economics.

Generic skills

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

  • Synthesis of ideas, views and evidence;
  • Strategic thinking;
  • Critical thinking;
  • Application of theory to economic policy;
  • Accessing economic and other information;
  • Summary and interpretation of information;
  • Problem solving skills;
  • Written communication; 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
ECON40001 Advanced Microeconomics
Semester 1 (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
ECON90011 Monetary Economics
Semester 2 (On Campus - Parkville)
 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

Problem Set 1

  • 250 words
Week 510%

Mid-semester Test

  • 1 hours
Week 730%

Problem Set 2

  • 250 words
Week 910%

End-of-semester Examination

  • 3 hours
During the examination period50%

Last updated: 4 March 2025

Dates & times

  • Semester 2
    Principal coordinatorJames Hansen
    Mode of deliveryOn Campus (Parkville)
    Contact hoursTwo 1.5 hour lectures per week
    Total time commitment170 hours
    Teaching period28 July 2025 to 26 October 2025
    Last self-enrol date 8 August 2025
    Census date 1 September 2025
    Last date to withdraw without fail26 September 2025
    Assessment period ends21 November 2025

    Semester 2 contact information

    James Hansen: james.hansen@unimelb.edu.au

     

Time commitment details

170 hours

What do these dates mean

Visit this webpage to find out about these key dates, including how they impact on:

  • Your tuition fees, academic transcript and statements.
  • And for Commonwealth Supported students, your:
       -  Student Learning Entitlement. This applies to all students enrolled in a Commonwealth Supported Place (CSP).
     

    Subjects withdrawn after the census date (including up to the ‘last day to withdraw without fail’) count toward the Student Learning Entitlement.

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