This course introduces the student to methods and issues in contemporary macroeconomics. A good understanding of the various macroeconomic issues and models is vital for any student of economics, business and finance. A central theme is the inter-relationship between empirical macroeconomic outcomes and theoretical constructs for explaining or understanding these outcomes. These models can also be used to understand and re-invent macroeconomic policies. In this course we also aim to bring the themes in undergraduate macroeconomic studies closer to what is taught in graduate courses, and also closer to how macroeconomics is done in the best universities and policy institutions such as the U.S. Federal Reserve, the International Monetary Fund, the European Central Bank, Bank of England, the Reserve Banks of New Zealand and Australia.

Learning Outcomes

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

1. Possess a coherent set of ideas for understanding macroeconomic phenomena and policy issues
2. Understand the assumptions, structure and micro-foundations of a macroeconomic model and understand its power and shortcomings
3. Formulate a relevant model and use such analytical tools in addressing a key macroeconomic question independently
4. Understand the different ways in which economic issues can be tackled.

Research-Led Teaching

The course will cover recent research in Macroeconomics. Relevant recent papers will be provided in Wattle, often as suggested optional readings. When feasible the main findings of those papers will be discussed in class. The lecturer in charge of this course has research interests in macroeconomics and has published several papers in top international journals.

Examination Material or equipment

This information will be available on Wattle no later than week 5 for the mid-semester examination and no later than week 10 for the final examination.

Required Resources

Stephen D. Williamson (2018), “Macroeconomics”, 6th edition. Pearson Addison Wesley Publishers (Global edition). The copies of the textbook are available in the library (2 hour loan) and can be purchased from the campus bookstore. It can be also purchased from the publisher's website: https://www.pearson.com.au.

Staff Feedback

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

·        Written comments will be provided for tutorial and in class exams

• Verbal comments will be provided consultations

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.

Other Information

Course Delivery

This course consists of two lectures (one and half hour) and one tutorial (one hour) per week (see the timetable for details on dates, times, and locations). Tutorial meetings start in week 2 (see tutorial registration details below).

Lectures: It is expected that students attend lectures whenever possible and come prepared to them. The handouts will be uploaded to WATTLE at least one day before the lectures.

Tutorials: It is expected that students prepare for tutorial in advance and come ready to answer questions about the problems assigned for each week’s tutorial.

Referencing Requirements

Please use Harvard style referencing: http://www.anu.edu.au/students/learning-  development/academic-integrity/style-guide

Scaling

Your final mark for the course will be based on the raw marks allocated for each of your assessment items. However, your final mark may not be the same number as produced by that formula, as marks may be scaled. Any scaling applied will preserve the rank order of raw marks (i.e. if your raw mark exceeds that of another student, then your scaled mark will exceed the scaled mark of that student), and may be either up or down.

Support for Students

The University offers a number of support services for students. Information on these is available online from http://students.anu.edu.au/studentlife/

Other Information

Building Access Hours

Both CBE and HW ARNDT are:

TEACHING PERIOD = Mon – Fri 07.45 to 21.15 and SAT, SUN and Public Holidays is not accessible by students.

Both CBE and HW ARNDT are:

NON TEACHING PERIOD = Mon – Fri 08.00 to 18.00 and SAT, SUN and Public Holidays is not accessible by students.

RSE has a Frequently Asked Questions page where you can find relevant policies and information on a broad range of topics, the onus is on the student to familiarise themselves with this page and the information available.  https://www.rse.anu.edu.au/students/students/frequently-asked-questions/

Class Schedule

Week/Session	Summary of Activities	Assessment
1	Please note that the chapters refer to the relevant chapters in Stephen D. Williamson (2018), “Macroeconomics”, 6th edition. Introduction and Measurement - Chapters 1, 2, 3
2	Economic Growth - Chapters 7 and 8
3	One Period Models - Consumer and Firm Optimisation - Chapter 4	HW assignments, quizzes, exams
4	One Period Models - Closed Economy Model -Chapter 5	HW assignments, quizzes, exams
5	One Period Models - Search Model of Unemployment - Chapter 6	HW assignments, quizzes, exams
6	Dynamic Models - Introduction - Chapter 9	HW assignments, quizzes, exams
7	Dynamic Models - A Real Inter-temporal Model - Chapter 11	HW assignments, quizzes, exams
8	Monetary Inter-temporal Model - Chapter 12	HW assignments, quizzes, exams
9	Money and Business Cycle Models - Chapters 13, 14, 15	HW assignments, quizzes, exams
10	Money and Business Cycle Models - Chapters 13, 14, 15	HW assignments, quizzes, exams
11	International Macroeconomics - Chapters 16 and 17	HW assignments, quizzes, exams
12	Final Exam Preparation	HW assignments, quizzes, exams

Tutorial Registration

See wattle.

Assessment Summary

Assessment task	Value	Due Date	Return of assessment	Learning Outcomes
Homework Assignment 1	6 %	22/03/2020	05/04/2020	1-4
Homework Assignment 2	6 %	17/05/2020	31/05/2020	1-4
In-tutorial Quizzes	12 %	25/02/2020	31/05/2020	1-4
Mid Semester Exam	26 %	01/04/2020	26/04/2020	1-4
Final Exam	50 %	06/06/2020	22/06/2020	1-4

* 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. 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.

This is an on-campus course. Attendance at all teaching events, while not compulsory, is expected in line with “Code of Practice for Teaching and Learning”, clause 2 paragraph (b).

 In addition, tutorials are a discussion-based class. Providing worked solutions would not effectively compensate for missing a tutorial. Students who, through unavoidable and unplanned occurrences, are unable to attend a tutorial class one week are encouraged to work through the problems and attend a consultation session for discussion and solutions.

Assessment Task 1

Homework Assignment 1

Students need to answer various short-essay, data manipulation, or analytical questions individually. The assignment questions will be posted to Wattle at least a week before its due date. The assignment should be typed. The font size should be 12 and the line spacing should be 1.5 lines. The normal margin should be used. Please submit a PDF file version of your work through Turnitin.

Presentation requirements: No

Assessment Task 2

Homework Assignment 2

Students need to answer various short-essay, data manipulation, or analytical questions individually. The assignment questions will be posted to Wattle at least a week before its due date. The assignment should be typed. The font size should be 12 and the line spacing should be 1.5 lines. The normal margin should be used. Please submit a PDF file version of your work through Turnitin.

Presentation requirements: No

Assessment Task 3

In-tutorial Quizzes

There will be 5 short quizzes. These quizzes will be given towards the end of the tutorials and each will take around 20 minutes to complete. The quizzes are not comprehensive i.e. they will cover the previous two tutorials’ materials at most. Only the best 4 scores are taken into account. The value of each quiz is 3%. Quizzes intend to give you a timely feedback. Tutorial quizzes will take place in Weeks 3, 5, 7, 9, and 11.

Assessment Task 4

Mid Semester Exam

This exam is optional and redeemable. The mid-semester exam date and time will be announced on Wattle after it is set by Timetabling. The exam will be 2 hours long. More details regarding the exam will be available on Wattle no later than week 5.

Although the exam is optional and fully redeemable, deferred mid-semester exam will be offered to students (following application by the students that has been approved by EGAP) if they require.

Assessment Task 5

Final Exam

This exam is compulsory and not-redeemable. It covers all topics studied in week 1-12 (inclusive) and will be 3 hours long. The details will be provided in 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

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.

Returning Assignments

Comments to HW assignments 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

Resubmission 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