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

Research-Led Teaching

This course will bring ECON2102 students to the frontier research and cutting-edge modelling tools in contemporary macroeconomics. It will cover pressing macroeconomic issues Australia and the world face now and years to come. 

Examination Material or equipment

This information will be available on Wattle in week 4 for the mid-semester and week 10 for the final exam.

Required Resources

+ Stephen D. Williamson, “Macroeconomics”. Pearson Addison Wesley Publishers (International version). The textbook can be purchased from the campus bookstore. The physical and electronic copies can be also purchased from the publisher's website: https://www.pearson.com.au. The copies of the textbook will be available in the library (2 hour loan).

+ Lecture notes and slides provided by the course convenor.

Recommended Resources

Whether you are on campus or studying remotely, there are a variety of online platforms you will use to participate in your study program. These could include videos for lectures and other instruction, two-way video conferencing for interactive learning, email and other messaging tools for communication, interactive web apps for formative and collaborative activities, print and/or photo/scan for handwritten work and drawings, and home-based assessment.

ANU outlines recommended student system requirements to ensure you are able to participate fully in your learning. Other information is also available about the various Learning Platforms you may use.

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). Feedback can also be provided to Course Conveners and teachers via the Student Experience of Learning & Teaching (SELT) feedback program. SELT surveys are confidential and also provide the Colleges and ANU Executive with opportunities to recognise excellent teaching, and opportunities for improvement.

Class Schedule

Week/Session	Summary of Activities	Assessment
1	Introduction and Review
2	Economic Growth: Facts and Theory (Chapters 7-8)
3	Economic Growth: Policy and Growth (Chapters 7-8)
4	Consumption and Leisure Decisions (Chapter 4)	Quiz 1
5	Static General Equilibrium Model: Set up and Application
6	Special topics: Fiscal stimulus, deficits and fiscal limits	Mid semester
7	Two Period Model (Chapters 9-10)
8	Dynamic General Equilibrium Model: Set up (Chapter 11)	Quiz 2
9	Dynamic General Equilibrium Model: Fiscal Policy (Chapter 11)
10	Real Business Cycle Model: Set up and Application (Chapter 12	Quiz 3
11	New Keynesian Model: Money, Business Cycles and Stabilisation Policy (Chapters 12 and 13)
12	Special topics: Zero lower bound, quantitative easing	Quiz 4

Tutorial Registration

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 Quizzes (20%)	20 %	15/08/2022	28/10/2022	1-4
Mid semester (20%)	20 %	29/09/2022	02/10/2022	1-4
Final examination (60%)	60 %	01/11/2022	18/11/2022	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 Integrity Rule before the commencement of their course. Other key policies and guidelines include:

• Academic Integrity Policy and Procedure
• Student Assessment (Coursework) Policy and Procedure
• Special Assessment Consideration Guideline and General Information 
• Student Surveys and Evaluations
• Deferred Examinations
• Student Complaint Resolution Policy and Procedure
• Code of practice for teaching and learning

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 Skills 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

Lectures: Course content will mainly be delivered in weekly in-person lectures. These lectures are recorded and available online through Echo360 for students who are unable to attend campus. However, there is no guarantee that the system would work smoothly every week.  Students are expected to attend lectures in line with “Code of Practice for Teaching and Learning”, clause 2 paragraph (b).

Tutorials (in-person and on-line): From Week 2 there will be in-person tutorial sessions. On-line tutorials only available for students who are unable to attend campus. Students MUST attend the tutorial section that they are enrolled in.  Students contact head tutor if they want to change their tutorial times. Tutorial questions will be available on the class website. 

Please note that preparing for lectures and tutorials in advance will considerably enhance your performance in this course.

Examination(s)

The final exam (120 minutes) is compulsory and will be invigilated via Zoom using camera. The exact date will be announced by the University. Final exam (70%) will cover the content from Weeks 6-12. The detailed instructions will be posted on the Wattle site in Week 10.

Assessment Task 1

Online Quizzes (20%)

+ Four times during the session, your progress will be assessed by 4 online quizzes (30 minutes).

+ The online quizzes will be administered during weeks 4, 8, 10 and 12.

-> Online Quiz 1 (5%) in Week 4 with the content from Weeks 1-2

-> Online Quiz 2 (5%) in Week 8 with the content from Weeks 7-8

-> Online Quiz 3 (5%) in Week 10 with the content from Weeks 7-10

-> Online Quiz 4 (5%) in Week 12 with the content from Week 12

+ The detailed instructions will be posted on the Wattle site one week in advance.

Note: These quizzes are OPTIONAL. There will be no deferred/supplementary quizzes. Students who are NOT available for the online quizzes will be able to count the final exam for bigger weighting of the final mark. Students are NOT required to inform the course convener about their absences. These adjustments will be done automatically at the end of the semester.

  

Assessment Task 2

Mid semester (20%)

+ The mid-semester exam (60-90 minutes) is OPTIONAL. Students have option to skip the mid semester. They are NOT required to inform the course convener about their absence.

+ The exact date and time will be announced by the university

+ The mid-semester exam covers the content from Weeks 1-6

+ It is likely that the mid-semester will be invigilated via Zoom using camera

+ The detailed instruction/preparation will be announced on the Wattle site in Week 4

Note: Students who are not able to do this test are able to count the final exam for bigger weighting of the final mark. This adjustment will be done automatically at the end of the semester.

Assessment Task 3

Final examination (60%)

+ The final exam (120-180 minutes) is compulsory

+ The exact date and time will be announced by the university

+ The final exam covers the content from Weeks 7-12.

+ The detailed instruction/preparation will be posted on the Wattle site in Week 10

+ The final will be invigilated via Zoom using camera

Note that, there will be no question on the concepts and models taught in Weeks 1-6. However, the content covered in the first 6 weeks provides fundamentals for understanding the content covered in the last 6 weeks and final exam questions.

Academic Integrity

Academic integrity is a core part of the ANU culture as a community of scholars. The University’s students are an integral part of that community. The academic integrity principle commits all students to engage in academic work in ways that are consistent with, and actively support, academic integrity, and to uphold this commitment by behaving honestly, responsibly and ethically, and with respect and fairness, in scholarly practice.

The University expects all staff and students to be familiar with the academic integrity principle, the Academic Integrity Rule 2021, the Policy: Student Academic Integrity and Procedure: Student Academic Integrity, and to uphold high standards of academic integrity to ensure the quality and value of our qualifications.

The Academic Integrity Rule 2021 is a legal document that the University uses to promote academic integrity, and manage breaches of the academic integrity principle. The Policy and Procedure support the Rule by outlining overarching principles, responsibilities and processes. The Academic Integrity Rule 2021 commences on 1 December 2021 and applies to courses commencing on or after that date, as well as to research conduct occurring on or after that date. Prior to this, the Academic Misconduct Rule 2015 applies.

 

The University commits to assisting all students to understand how to engage in academic work in ways that are consistent with, and actively support academic integrity. All coursework students must complete the online Academic Integrity Module (Epigeum), and Higher Degree Research (HDR) students are required to complete research integrity training. The Academic Integrity website provides information about services available to assist students with their assignments, examinations and other learning activities, as well as understanding and upholding academic integrity.

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.
• Late submission permitted. Late submission of assessment tasks without an extension are penalised at the rate of 5% of the possible marks available per working day or part thereof. Late submission of assessment tasks is not accepted after 10 working days after the due date, or on or after the date specified in the course outline for the return of the assessment item. Late submission is not accepted for take-home examinations.

Referencing Requirements

The Academic Skills website has information to assist you with your writing and assessments. The website includes information about Academic Integrity including referencing requirements for different disciplines. There is also information on Plagiarism and different ways to use source material.

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.

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 Access 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