This course is designed to provide or refamiliarise students with basic knowledge required to successfully undertake macroeconomic related courses in the IDEC program, including IDEC8002 Macroeconomic Analysis and Policy and Open Economy, Finance and Development (IDEC8008). As a preparatory course, the class environment will be structured to help students become familiar with the ANU teaching environment, resources available to students, and requirements of formal coursework. An objective of the course is to provide students with an understanding of their strengths and weaknesses in macroeconomics and help provide a strategy for students to improve on any weaknesses. In-class exercises are an important component of teaching in the course. Student participation in discussion of issues in macroeconomics and study at ANU more broadly is also highly encouraged. The course introduces students to basic topics in macroeconomics and economic growth and provides students with basic analytical tools to understand theoretical concepts and undertake policy analysis.
Upon successful completion, students will have the knowledge and skills to:1. understand the difference between macroeconomics and microeconomics and have a basic knowledge of the main schools of thought in macroeconomics;
2. be familiar with important variables in macroeconomics and how these variables have changed over time;
3. understand basic math techniques required for macroeconomic analysis, such as derivatives and differentiation, time derivatives and growth rates, static optimisation, and constrainted optimisation;
4. understand the IS-LM model and have a basic knowledge of how shocks to the economy can be represented by the model and their impact on general equilibrium;
5. understand the AD-AS model and how it builds on the IS-LM model;
6. use the AD-AS model to understand the impact of exogenous shocks, such as fiscal and monetary policy, together with movements in the general price level impact on the real economy;
7. understand the fundamentals of the Solow-Swan Neo-classical growth model and be able to represent the model algebraically and graphically.
Indicative AssessmentA range of formative and summative assessment tasks will be used to aid student learning. Feedback will be provided on all tasks. Completion of all tasks is required.
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WorkloadApproximately 30 hours class, with an equivalent number of hours in self study
Requisite and Incompatibility
You will need to contact the Crawford School of Public Policy to request a permission code to enrol in this course.
Prescribed TextsDavid Romer. 2006. Advanced Macroeconomics. McGrawHill.Dornbusch, R., Fisher, S. and Startz, R. 1998. Macroeconomics. 7th edn, McGraw-Hill.
Jones, CI 2002, Introduction to Economic Growth, 2nd edn, Norton, New York.
Tuition fees are for the academic year indicated at the top of the page.
If you are a domestic graduate coursework or international student you will be required to pay tuition fees. Tuition fees are indexed annually. Further information for domestic and international students about tuition and other fees can be found at Fees.
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If you are an undergraduate student and have been offered a Commonwealth supported place, your fees are set by the Australian Government for each course. At ANU 1 EFTSL is 48 units (normally 8 x 6-unit courses). You can find your student contribution amount for each course at Fees. Where there is a unit range displayed for this course, not all unit options below may be available.
Offerings, Dates and Class Summary Links
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Class summaries, if available, can be accessed by clicking on the View link for the relevant class number.
|Class number||Class start date||Last day to enrol||Census date||Class end date||Mode Of Delivery||Class Summary|
|6740||09 Jun 2016||08 Jul 2016||08 Jul 2016||15 Jul 2016||In Person||N/A|