Macroeconomics is concerned with the operation of the economy as a whole, with attention paid to such things as unemployment, inflation, and interest rates, determination of the level of national income, savings and investment, and the exchange rate and the current account of the balance of payments. The course develops a consistent model of the economy to explore the interactions of key macroeconomic markets and variables and to examine the impacts of different kinds of shocks to the economy and the role of government budgetary and monetary policy in influencing the level of economic activity.

Learning Outcomes

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

1. Understand the core theoretical models used by macroeconomists, in particular the Solow growth model and the AS/AD-model;
2. Discuss the usefulness and limitations of these models;
3. Explain and understand some of the associated empirical implications and policy issues;
4. Critically read and understand many newspaper and magazine articles covering current economic events;
5. Have a brief overview of some of the institutional features of the Australian economy and some overseas economies.

Research-Led Teaching

Both the lecturer and the course convenor are active researchers in the field of Macroeconomics. The course will cover the recent research regarding short-run and long-run Macroeconomic models.

Examination Material or equipment

The detailed information regarding the mid-semester exam will be available no later than week 5 and the detailed information regarding the final exam will be available no later than week 10 on the course Wattle.

Required Resources

Macroeconomics (10th Edition), N. Gregory Mankiw (https://www.macmillanihe.com/page/detail/macroeconomics-n-gregory-mankiw/?sf1=barcode&st1=9781319243586). It can be directly ordered from the link. You can use the code ANZJR15  for a 15% discount when purchasing online via the publisher's website.

The electronic copy will be also available via the ANU library system and I will share the link in the course Wattle when it becomes available.

Staff Feedback

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

• written comments
• verbal comments
• feedback to whole class, groups, individuals, focus group etc

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	Introduction. Readings: Chapters 1-2 from the textbook
2	National Income and Monetary System. Readings: Chapters 3-4 from the textbook
3	Inflation and Open Economy. Readings: Chapters 5-6 from the textbook	Tutorial quiz 1
4	Unemployment and Labor Market. Readings: Chapters 7 from the textbook	Tutorial quiz 2
5	Growth. Readings: Chapters 8-9 from the textbook	Tutorial quiz 3
6	Fluctuations and Building the IS-LM Model. Readings: Chapters 10-11 from the textbook	Tutorial quiz 4
7	Applying the IS-LM Model and the Mundell-Fleming Model. Readings: Chapters 12-13 from the textbook	Tutorial quiz 5 and mid-semester examination
8	Aggregate Supply. Readings: Chapters 14 from the textbook	Tutorial quiz 6
9	A Dynamic Model of Economic Fluctuations and Understanding Consumer Behavior. Readings: Chapters 15-16 from the textbook	Tutorial quiz 7 and homework assignment
10	Investment. Readings: Chapters 17 from the textbook	Tutorial quiz 8
11	Stabilization Policy and and Government Debt. Readings: Chapters 18-19 from the textbook	Tutorial quiz 9
12	Overview

Tutorial Registration

Details on tutorials will be posted on Wattle in O-week.

Assessment Summary

Assessment task	Value	Due Date	Return of assessment	Learning Outcomes
Tutorial Quizzes	14 %	14/08/2020	23/10/2020	1,2,3,4,5
Mid-semester Exam	24 %	25/09/2020	09/10/2020	1,2,3,4,5
Homework Assignment	12 %	09/10/2020	23/10/2020	1,2,3,4,5
Final Exam	50 %	05/11/2020	03/12/2020	1,2,3,4,5

* 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 Academic Integrity . In rare cases where online submission using Turnitin software is not technically possible; or where not using Turnitin software has been justified by the Course Convener and approved by the Associate Dean (Education) on the basis of the teaching model being employed; students shall submit assessment online via ‘Wattle’ outside of Turnitin, or failing that in hard copy, or through a combination of submission methods as approved by the Associate Dean (Education). The submission method is detailed below.

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.

Participation

There are no marks allocated for attendance but participation in lectures and tutorials is highly encouraged. Please note that preparing for lectures and tutorials in advance will considerably enhance your performance in this course.

Assessment Task 1

Tutorial Quizzes

There will be 9 short quizzes. In each quiz, there will be 10 questions and it will take 12 minutes to complete. Quizzes are planned to be given towards the end of the online tutorials for now. Yet, this might change. We will provide more info regarding the delivery of the online quizzes on the course Wattle page in O-week.

Your best 7 scores will be counted. The quizzes will take place in Weeks 3, 4 ,5, 6, 7, 8, 9, 10 and 11. These quizzes will try to measure your understanding of the material during the semester and to give you a timely feedback. The quizzes are not comprehensive i.e. they will cover the previous lecture materials. That means quiz 1 in week 3 covers week 1 and 2 lectures; quiz 2 in week 4 will cover week 3 lecture; etc. The value of each quiz is 2 %. More details will be available in O-week.

Assessment Task 2

Mid-semester Exam

This exam is optional and redeemable. It is planned to be 2 hours long (subject to the change). The exact date and time of the online exam and the other details regarding the exam (i.e. the writing time, reading time, etc.) will be announced on Wattle at least two weeks before the exam.

Assessment Task 3

Homework Assignment

ECON1102 students need to answer various short-essay, data manipulation, or analytical questions individually. The assignment questions will be posted to the Wattle at least two weeks before its due date. The assignment is due in Week 9. The assignment should be typed. The details regarding the homework assignment requirements will be posted to the course Wattle page and students should conform to the assignment rules otherwise their assignment might receive zero marks.

Assessment Task 4

Final Exam

This exam is compulsory and not-redeemable. Exam covers all topics studied in week 1-12 (inclusive) and will be 3 hours long (subject to the change). More information regarding the exam (exact date, time, the length of the exam, question types, etc.) will be provided on Wattle no later than week 10.

Academic Integrity

Academic integrity is a core part of the ANU culture as a community of scholars. At its heart, academic integrity is about behaving ethically, committing to honest and responsible scholarly practice and upholding these values with respect and fairness.

The ANU commits to assisting all members of our community to 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 be familiar with the academic integrity principle and Academic Misconduct Rule, 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 Academic Misconduct Rule is in place to promote academic integrity and manage academic misconduct. Very minor breaches of the academic integrity principle may result in a reduction of marks of up to 10% of the total marks available for the assessment. The ANU offers a number of online and in person services to assist students with their assignments, examinations, and other learning activities. Visit the Academic Skills website for more information about academic integrity, your responsibilities and for assistance with your assignments, writing skills and study.

Online Submission

You will be required to electronically sign a declaration as part of the submission of your assignment. Please keep a copy of the assignment for your records. Unless an exemption has been approved by the Associate Dean (Education) submission must be through Turnitin.

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

Individual assessment tasks may or may not allow for late submission. Policy regarding late submission is detailed below:

• Late submission not permitted. If submission of assessment tasks without an extension after the due date is not permitted, 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.

Returning Assignments

Comments to the HW assignment will be provided through Wattle.

Extensions and Penalties

Extensions and late submission of assessment pieces are covered by the Student Assessment (Coursework) Policy and Procedure. Extensions may be granted 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.

Resubmission of Assignments

Re-submission of assignments will not be allowed.

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