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Macroeconomics (ECON30009)

Undergraduate level 3Points: 12.5On Campus (Parkville)

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Overview

Year of offer2019
Subject levelUndergraduate Level 3
Subject codeECON30009
Campus
Parkville
Availability
Semester 2
FeesSubject EFTSL, Level, Discipline & Census Date

This subject is an introduction to advanced study of macroeconomics. An integrated theoretical framework – a simple life cycle model – is used to explore the central issues of macroeconomics. Major topics to be covered include: income determination and economic growth, economic fluctuations and business cycle, fiscal and monetary policy, open economy and international trade.

Intended learning outcomes

The overall objective of this subject is to provide students with an integrated neoclassical approach to address substantive macroeconomic questions so as to improve their critical thinking and analytical skills and enhance their understanding of aggregate economic behaviour.

  • Understand the development of macroeconomic thought and major macroeconomic theories.
  • Use the life cycle model to explain economic growth and identify important factors that lead to income differences across countries.
  • Analyse and simulate the dynamic responses of economic aggregates following changes in productivity, population, economic policies, and so on.
  • Extend the life cycle model to include fiscal policy and money to analyse the short-run and long-run economic effects of certain fiscal and monetary policy.
  • Use a two-country life cycle model to analyse important questions related to international trade and open economy.

Generic skills

  • High level of development: problem solving; application of theory to practice; interpretation and analysis; critical thinking.

  • Moderate level of development: oral communication; written communication; collaborative learning; statistical reasoning; synthesis of data and other information; evaluation of data and other information; receptiveness to alternative ideas.

  • Some level of development: team work; use of computer software; accessing data and other information from a range of sources.

Eligibility and requirements

Prerequisites

Both of:

Code Name Teaching period Credit Points
ECON20002 Intermediate Microeconomics
Summer Term
Semester 1
12.5
ECON20001 Intermediate Macroeconomics
Semester 2
12.5

Corequisites

None

Non-allowed subjects

Students who have completed

Code Name Teaching period Credit Points
ECON40002 Advanced Macroeconomics
Semester 1
12.5
may not gain credit for
Code Name Teaching period Credit Points
ECON30009 Macroeconomics
Semester 2
12.5
.

Code Name Teaching period Credit Points
ECON40002 Advanced Macroeconomics
Semester 1
12.5

Recommended background knowledge

Please refer to Prerequisites and Corequisites.

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

Assessment

Description

  • A 2-hour end-of-semester examination (65%)
  • 2 x 1,000-word written assignments due in week 5 and week 10 worth 8% and 7% respectively (totalling 15%)
  • A 45-minute mid-semester exam (10%) and tutorial attendance and participation (10%)

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

Dates & times

  • Semester 2
    Principal coordinatorJames Hansen
    Mode of deliveryOn Campus — Parkville
    Contact hoursThree hours of seminars, lectures and tutorials per week
    Total time commitment170 hours
    Teaching period29 July 2019 to 27 October 2019
    Last self-enrol date 9 August 2019
    Census date31 August 2019
    Last date to withdraw without fail27 September 2019
    Assessment period ends22 November 2019

    Semester 2 contact information

Time commitment details

170 hours

Further information

  • Texts

    Prescribed texts

    You will be advised of prescribed texts by your lecturer.

  • Subject notes

    This subject is one of the three subjects which students proceeding to an honours degree in economics are required to take in third year, and has been designed accordingly. There are, however, no restrictions on entry to the subject which all third-year economics students are welcome to take.

  • Breadth options
  • 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: 12 June 2019