The course will build on and extend material presented in ECON8022 Macroeconomic Theory. We will cover an equal amount of theory and applications. Students are expected to be comfortable with analytical thinking and have an aptitude for developing computational skills. Topics will include the study of: (i) Non-optimal dynamic economies; (ii) heterogenous agent models with incomplete markets; and (iii) strategic interactions in dynamic environments. These model environments are both of theoretical interest and find applications in modern macroeconomic quantitative analysis and policy.

Learning Outcomes

Upon successful completion, students will have the knowledge and skills to:

A student who successfully passes this course is expected to possess the following ability to:
• Read and understand recent developments published in rigorous professional outlets.
• Distil complex dynamic economic problems or facts into a parsimonious and relevant modeling framework. This involves discerning what are important assumptions to make in modelling, when faced with a given issue to address.
• Understand the connection between assumptions made and the conclusions drawn.
• Appreciate the shortcomings of models and to provide alternative improvements.
• Construct logical arguments and provide economic explanations consistent with the  workings of the model used.
• Use analytical and numerical methods in modelling.
• Work independently, in teams, and to develop intellectual leadership.

Research-Led Teaching

This is a macro course on the topic of natural resources and the macroeconomy. Students will study: commodity markets, economic growth and natural resources, economic diversification and natural resources, natural resources and inclusive growth, fiscal frameworks in resource rich economies, energy subsidy reform, macroeconomic policies to deal with resource flows, transparency in the management of natural resources, sovereign wealth asset allocation and wealth management.

Required Resources

There is pre-reading for the course. Students are expected to have read through all pages of Arezki et al. (2011), link provided below, before classes start:

https://notendur.hi.is/gylfason/Beyond_the_Curse_Arezki_Gylfason_Sy.pdf

Arezki, R., T. Gylfason, and A. Sy (2011). “Beyond the Curse: Policies to Harness the Power of Natural Resources.” International Monetary Fund, Washington D.C., pp. 1 -272.

Staff Feedback

Students will be given feedback in the following forms in this course:

• Written comments
• Verbal comments
• Feedback to the whole class, to groups, to individuals, focus groups

Student Feedback

ANU is committed to the demonstration of educational excellence and regularly seeks feedback from students. Students are encouraged to offer feedback directly to their Course Convener or through their College and Course representatives (if applicable). The feedback given in these surveys is anonymous and provides the Colleges, University Education Committee and Academic Board with opportunities to recognise excellent teaching, and opportunities for improvement. The Surveys and Evaluation website provides more information on student surveys at ANU and reports on the feedback provided on ANU courses.

Class Schedule

Week/Session	Summary of Activities	Assessment
1	Mon 1st July - 2 lectures (2-5pm)
2	Tues 2nd July - 2 lectures (2-5pm)
3	Wed 3rd July - 2 lectures (2-5pm)	essay question distributed to students
4	Wed 10th July - 2 lectures (2-5pm)	essay due, student presentations
5	Thurs 11th July - 2 lectures (2-5pm)	student presentations
6	Fri 12th July - 2 lectures (2-5pm)	student presentations; final exam distributed to students

Assessment Summary

Assessment task	Value	Due Date	Return of assessment	Learning Outcomes
1. Final exam	33 %	13/07/2019	22/07/2019	1
2. Essay	33 %	10/07/2019	22/07/2019	1
3. Presentation	33 %	10/07/2019	13/07/2019	1

* If the Due Date and Return of Assessment date are blank, see the Assessment Tab for specific Assessment Task details

Policies

ANU has educational policies, procedures and guidelines, which are designed to ensure that staff and students are aware of the University’s academic standards, and implement them. Students are expected to have read the Academic Misconduct Rule before the commencement of their course. Other key policies and guidelines include:

• Student Assessment (Coursework) Policy and Procedure
• Special Assessment Consideration Policy and General Information
• Student Surveys and Evaluations
• Deferred Examinations
• Student Complaint Resolution Policy and Procedure

Assessment Requirements

The ANU is using Turnitin to enhance student citation and referencing techniques, and to assess assignment submissions as a component of the University's approach to managing Academic Integrity. For additional information regarding Turnitin please visit the ANU Online website Students may choose not to submit assessment items through Turnitin. In this instance you will be required to submit, alongside the assessment item itself, hard copies of all references included in the assessment item.

Moderation of Assessment

Marks that are allocated during Semester are to be considered provisional until formalised by the College examiners meeting at the end of each Semester. If appropriate, some moderation of marks might be applied prior to final results being released.

Assessment Task 1

1. Final exam

The final exam will be a short essay, maximum of 2 pages, on a question related to a topic covered in class. You will have one day (24 hours) to write the short essay. The final exam is worth 1/3 to 2/3 of your total mark.

Assessment Task 2

2. Essay

The essay is optional. If you write an essay then it will count 1/3 towards your final mark -- the exam will in this case be 1/3. If you don’t write an essay, then the final exam will count 2/3 towards your final grade. You will have one week to write the 5-page essay. The essay will be on a question related to a specific topic covered in the course.

 

Assessment Task 3

3. Presentation

At the beginning of the course, a list of topics will be distributed to students from which they can choose a topic to deliver a 1-hour presentation. Slides on the topic will be made available to the students. Students who present should be ready to answer questions on the material covered in the presentations slides. Depending on enrollment, students may have to form teams to deliver the presentations. This presentation will be worth 1/3 of your final mark.

Academic Integrity

Academic integrity is a core part of our culture as a community of scholars. At its heart, academic integrity is about behaving ethically. This means that all members of the community commit to honest and responsible scholarly practice and to upholding these values with respect and fairness. The Australian National University commits to embedding the values of academic integrity in our teaching and learning. We ensure that all members of our community understand how to engage in academic work in ways that are consistent with, and actively support academic integrity. The ANU expects staff and students to uphold high standards of academic integrity and act ethically and honestly, to ensure the quality and value of the qualification that you will graduate with. The University has policies and procedures in place to promote academic integrity and manage academic misconduct. Visit the following Academic honesty & plagiarism website for more information about academic integrity and what the ANU considers academic misconduct. The ANU offers a number of services to assist students with their assignments, examinations, and other learning activities. The Academic Skills and Learning Centre offers a number of workshops and seminars that you may find useful for your studies.

Online Submission

The ANU uses Turnitin to enhance student citation and referencing techniques, and to assess assignment submissions as a component of the University's approach to managing Academic Integrity. While the use of Turnitin is not mandatory, the ANU highly recommends Turnitin is used by both teaching staff and students. For additional information regarding Turnitin please visit the ANU Online website.

Hardcopy Submission

For some forms of assessment (hand written assignments, art works, laboratory notes, etc.) hard copy submission is appropriate when approved by the Associate Dean (Education). Hard copy submissions must utilise the Assignment Cover Sheet. Please keep a copy of tasks completed for your records.

Late Submission

No submission of assessment tasks without an extension after the due date will be permitted. If an assessment task is not submitted by the due date, a mark of 0 will be awarded. 

Referencing Requirements

Accepted academic practice for referencing sources that you use in presentations can be found via the links on the Wattle site, under the file named “ANU and College Policies, Program Information, Student Support Services and Assessment”. Alternatively, you can seek help through the Students Learning Development website.

Extensions and Penalties

Extensions and late submission of assessment pieces are covered by the Student Assessment (Coursework) Policy and Procedure The Course Convener may grant extensions for assessment pieces that are not examinations or take-home examinations. If you need an extension, you must request an extension in writing on or before the due date. If you have documented and appropriate medical evidence that demonstrates you were not able to request an extension on or before the due date, you may be able to request it after the due date.

Privacy Notice

The ANU has made a number of third party, online, databases available for students to use. Use of each online database is conditional on student end users first agreeing to the database licensor’s terms of service and/or privacy policy. Students should read these carefully. In some cases student end users will be required to register an account with the database licensor and submit personal information, including their: first name; last name; ANU email address; and other information. In cases where student end users are asked to submit ‘content’ to a database, such as an assignment or short answers, the database licensor may only use the student’s ‘content’ in accordance with the terms of service — including any (copyright) licence the student grants to the database licensor. Any personal information or content a student submits may be stored by the licensor, potentially offshore, and will be used to process the database service in accordance with the licensors terms of service and/or privacy policy. If any student chooses not to agree to the database licensor’s terms of service or privacy policy, the student will not be able to access and use the database. In these circumstances students should contact their lecturer to enquire about alternative arrangements that are available.

Distribution of grades policy

Academic Quality Assurance Committee monitors the performance of students, including attrition, further study and employment rates and grade distribution, and College reports on quality assurance processes for assessment activities, including alignment with national and international disciplinary and interdisciplinary standards, as well as qualification type learning outcomes. Since first semester 1994, ANU uses a grading scale for all courses. This grading scale is used by all academic areas of the University.

Support for students

The University offers students support through several different services. You may contact the services listed below directly or seek advice from your Course Convener, Student Administrators, or your College and Course representatives (if applicable).

• ANU Health, safety & wellbeing for medical services, counselling, mental health and spiritual support
• ANU Diversity and inclusion for students with a disability or ongoing or chronic illness
• ANU Dean of Students for confidential, impartial advice and help to resolve problems between students and the academic or administrative areas of the University
• ANU Academic Skills and Learning Centre supports you make your own decisions about how you learn and manage your workload.
• ANU Counselling Centre promotes, supports and enhances mental health and wellbeing within the University student community.
• ANUSA supports and represents undergraduate and ANU College students
• PARSA supports and represents postgraduate and research students