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. demonstrate mastery of 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. provide evidence of knowledge and contextual understanding of key institutional features of the Australian economy and some overseas economies

Research-Led Teaching

The lecture content will include scholarly research in the field of macroeconomics and related economic theory and history, including the lecturer’s own research. In addition, other data, research and concepts will be presented during the lectures that are not covered in the textbook. This material will be sourced from the relevant academic literature, policy studies and reporting on current events. During the tutorials, students will have the opportunity to discuss the key points from the research and data discussed in class.

Additional Course Costs

There are no additional class costs.

Required Resources

Material from the following websites will be assigned for the relevant topics:

CORE, The Economy 1.0, available at http://www.core-econ.org

OpenStax College. (2014). Principles of Macroeconomics, 2nd edition. Houston, TX: OpenStax CNX. https://openstax.org/details/books/principles-macroeconomics

University of Minnesota Open textbook repository. Principles of Macroeconomics. https://open.lib.umn.edu/macroeconomics/

Penn State Open textbook repository. Introduction to Macroeconomics. https://psu.pb.unizin.org/introductiontomacroeconomics/

Other materials, available online, will also be prescribed to supplement the text on certain topics. All links will be provided on the Wattle site in advance of the relevant lectures. 

Recommended Resources

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	Models and reality
2	The Great Depression and the birth of macroeconomics
3	The Aggregate Expenditure framework	Online quiz 1 due
4	National Income Accounting
5	Employment and unemployment	Take-home assignment 1 Due
6	Inflation
7	Money and the real economy	Online quiz 2 due
8	Long-run economic growth
9	Macroeconomics and the international economic system	Take-home assignment 2 due
10	The current "consensus" model: AD-AS
11	AD-AS application: Monetary policy	Online quiz 3 due
12	AD-AS application: Fiscal policy

Tutorial Registration

You are expected to attend one tutorial each week from Week 2 onwards. ANU utilises MyTimetable to enable students to view the timetable for their enrolled courses, browse, then self-allocate to small teaching activities / tutorials so they can better plan their time. Find out more on the Timetable webpage. https://www.anu.edu.au/students/program-administration/timetabling].

Assessment Summary

Assessment task	Value	Due Date	Return of assessment	Learning Outcomes
Online Quiz 1	10 %	11/08/2022	13/08/2022	1,2,5
Take-home assignment 1	20 %	23/08/2022	04/09/2022	1,2,3,4,5
Online quiz 2	10 %	21/09/2022	06/10/2022	1,2,5
Take-home assignment 2	20 %	05/10/2022	21/10/2022	1,2,3,4,5
Online quiz 3	10 %	19/10/2022	21/10/2022	1,2,3,4,5
Online final exam	30 %	04/11/2022	22/11/2022	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 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.

Participation

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.

Examination(s)

All examinations will be administered through Wattle.

Assessment Task 1

Online Quiz 1

60 minute quiz, administered through Wattle. Online Quiz 1 is worth 10% of the total course mark. The quiz is both compulsory and non-redeemable. There will be a one day window in which students can take the exam but once they commence it they will have one hour to complete it. Further details on the quizzes will posted on Wattle by week 2. The quiz must be done as individual work.

Assessment Task 2

Take-home assignment 1

Take-home tasks involving problem-solving questions and analysis. Take-home assignment 1 is worth 15% of total course mark. This assignment is compulsory and non-redeemable. The assignment will have questions similar to those provided in tutorials. The take-home assignment will need to be submitted electronically through Turnitin; a hardcopy submission may also be required. Exact submission requirements will be posted on Wattle by week 2. Email submissions are not acceptable. The questions will be released a week in advance on the due date. The assignment is to be done as individual work.

Assessment Task 3

Online quiz 2

60 minute quiz, administered through Wattle. Online Quiz 2 is worth 10% of the total course mark. The quiz is both compulsory and non-redeemable. There will be a one day window in which students can take the exam but once they commence it they will have one hour to complete it. Further details on the quizzes will posted on Wattle by week 2. The quiz is to be done as individual work.

Assessment Task 4

Take-home assignment 2

Take-home tasks involving problem-solving questions and analysis. Take-home assignment 2 is worth 15% of total course mark. This assignment is compulsory and non-redeemable. The assignment will have questions similar to those provided in tutorials. The take-home assignment will need to be submitted electronically through Turnitin; a hardcopy submission may also be required. Exact submission requirements will be posted on Wattle by week 2. Email submissions are not acceptable. The questions will be released a week in advance on the due date. The assignment is to be done as individual work.

Assessment Task 5

Online quiz 3

60 minute quiz, administered through Wattle. Online Quiz 2 is worth 10% of the total course mark. The quiz is both compulsory and non-redeemable. There will be a one day window in which students can take the exam but once they commence it they will have one hour to complete it. Further details on the quizzes will posted on Wattle shortly by week 2. The quiz is to be done as individual work.

Assessment Task 6

Online final exam

2-hour online final exam, administered through Wattle. Worth 30% of course mark. This exam is compulsory and non-redeemable.

The final exam will test the entire material covered throughout the semester, with an emphasis on the second half of the course. It will be held during the university examination period. There will be a one day window in which students can take the exam but once they commence it they will have two hours to complete it. Further details on the final exam will posted on Wattle by week 6. The format of the exam will consist of short-answer and longer essay questions of varying complexity, testing both knowledge and understanding of class material and requiring creativity and higher analytic and communication skills. The exam is to be done as individual work.

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.

Returning Assignments

Please see relevant assessment task details above.

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.

Resubmission of Assignments

Unless specified otherwise in the assignment requirements, resubmissions are permitted up until the due date and time, but not allowed afterwards.

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