• Class Number 8115
  • Term Code 2960
  • Class Info
  • Unit Value 6 units
  • Mode of Delivery In Person
    • Dr Weifeng Liu
    • Dr Weifeng Liu
    • Prof Warwick McKibbin
  • Class Dates
  • Class Start Date 22/07/2019
  • Class End Date 25/10/2019
  • Census Date 31/08/2019
  • Last Date to Enrol 29/07/2019
    • Phitawat Poonpolkul
SELT Survey Results

This course aims to acquaint student with key issues and models in international macroeconomics. It introduces students to macroeconomic accounting and standard open-economy macroeconomic models. These models are then used to understand important issues in international macroeconomics including the exchange rate, the current account, international capital mobility, exchange rate regimes, and monetary policy in open economies. 

Learning Outcomes

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

Upon successful completion of this course, students will be able to:
  1. Recognise key concepts and core theories of international macroeconomics
  2. Apply economic tools to real world events and policy
  3. Communicate concepts, graphically, mathematically and in writing, to a professional standard
  4. Evaluate what is important and caste an argument in terms of relevant international macroeconomic models

Required Resources

There are no compulsory readings for my course.

Foundations of International Macroeconomics

Author: Maurice Obstfeld and Kenneth Rogoff

Publisher: The MIT Press (1996)

International Economics: Theory and Policy

Author: Paul Krugman, Maurice Obstfeld and Marc Melitz

Publisher: Pearson (2018)

Edition: 11th

Open Economy Macroeconomics

Author: Martin Uribe and Stephanie Schmitt-Grohe

Publisher: Princeton University Press (2017)

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 Week 1: The Global Macroeconomy
2 Week 2: Intertemporal Trade and Current Account in a Two-Period Endowment Economy
3 Week 3: Intertemporal Trade and Current Account in a Two-Period Production Economy
4 Week 4: Methods of Intertemporal Optimization
5 Week 5: Dynamics of Small Open Economies with Infinite Horizon: Non-Durable and Durable Goods
6 Week 6: Dynamics of Small Open Economies with Infinite Horizon: Firms and Labor Markets
7 Week 7: Real Exchange Rates
8 Week 8: Money and Exchange Rates under Flexible Prices
9 Week 9: Sticky Prices and the Mundell-Fleming-Dornbusch Model
10 Week 10: A New Keynesian Model in an Open Economy
11 Week 11: Monetary Policy in a Small Open Economy
12 Week 12: A Global General Equilibrium Model - The G-Cubed Model

Assessment Summary

Assessment task Value Due Date Return of assessment Learning Outcomes
Mid-Term Exam 30 % 16/09/2019 01/10/2019 1, 2, 3, 4
Assignment 20 % 11/10/2019 29/10/2019 1, 2, 3, 4
Final Exam (to be held during the examination period with the specific date to be confirmed by the ANU examination office) 50 % 31/10/2019 28/11/2019 1, 2, 3, 4

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


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:

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

Value: 30 %
Due Date: 16/09/2019
Return of Assessment: 01/10/2019
Learning Outcomes: 1, 2, 3, 4

Mid-Term Exam

The mid-term exam covers topics 1-4.

Assessment Task 2

Value: 20 %
Due Date: 11/10/2019
Return of Assessment: 29/10/2019
Learning Outcomes: 1, 2, 3, 4


The assignment is related to topic 5.

Assessment Task 3

Value: 50 %
Due Date: 31/10/2019
Return of Assessment: 28/11/2019
Learning Outcomes: 1, 2, 3, 4

Final Exam (to be held during the examination period with the specific date to be confirmed by the ANU examination office)

The final exam covers all topics.

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

Submission of assignments without an extension after the due date is not permitted. If an assignment is not submitted by the due date, a mark of zero 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).
Dr Weifeng Liu

Research Interests

Dr Weifeng Liu

Dr Weifeng Liu
02 6125 0093

Research Interests

Dr Weifeng Liu

Prof Warwick McKibbin

Research Interests

Prof Warwick McKibbin

Phitawat Poonpolkul

Research Interests

Phitawat Poonpolkul

Responsible Officer: Registrar, Student Administration / Page Contact: Website Administrator / Frequently Asked Questions