This course extends and reinforces the material developed in Macroeconomics 2 by analysing a number of policy issues in macroeconomics. Its objective is to show how practical problems can be structured and analysed using macroeconomic models and appropriate data. Most of the applications will be drawn from contemporary and historical Australian experience. Topics to be discussed include measurement and interpretation of macroeconomic aggregates; impact of the world economy on short-run fluctuations in Australia; determinants of economic growth and foreign debt; assessment of the impact of fiscal policy; inflation targets and monetary policy; and the persistence of unemployment.

Learning Outcomes

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

1. demonstrate ability to use macroeconomic models to examine and understand recent major economic events in the Australian economy;
2. display thorough understanding of different macroeconomic models to evaluate macroeconomic activity;
3. prove familiarity with the main computational models used in Australia to forecast economic activity, and how they are used to evaluate policy proposals;
4. exhibit detailed knowledge of how to report macroeconomic policy analysis in a coherent way with clear explanations of the economic intuition.

Research-Led Teaching

The course will cover recent research in Macroeconomics and will teach the latest modelling techniques. 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 4 for the mid-semester examination and no later than week 10 for the final examination.

Required Resources

A Course in Modern Macroeconomics by Pablo Kurlat. The physical and electronic copies can be purchased from the links provided on the author's website: Pablo Kurlat - A Course in Modern Macroeconomics (google.com) I will make a request to the ANU library system to purchase the physical and electronic copies. When they become available in the library system, I will make an announcement on Wattle accordingly.

Recommended Resources

Whether you are on campus or studying online, 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	GDP and Living Standards (Chapters 1-2)
2	Economic Growth (Chapters 3-5)	In-class Exam 1
3	Consumption and Saving (Chapter 6)	In-class Exam 2
4	Labor and Leisure (Chapter 7)	In-class Exam 3
5	Investment (Chapter 8)	In-class Exam 4 and HW Assignment 1
6	In class Mid-semester Examination	Mid semester Exam
7	General Equilibrium (Chapter 9)	In-class Exam 5
8	Money and Inflation (Chapters 10-11)	In-class Exam 6
9	Business Cycles Facts and RBC Theory (Chapters 12-13)	In-class Exam 7 and HW Assignment 2
10	The New Keynesian Model (Chapter 14)	In-class Exam 8
11	Fiscal and Monetary Policy (Chapter 15)	In-class Exam 9
12	Overview

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
In Class Exams	9 %	24/07/2023	27/10/2023	1,2,3
Homework Assignments	14 %	24/07/2023	27/10/2023	1,2,3,4
Mid-Semester Examination	22 %	28/08/2023	01/09/2023	1,2,3
Final Exam	55 %	02/11/2023	18/11/2023	1,2,3,4

* 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
• Extenuating Circumstances Application
• 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

This course will be taught in-person. Course content will be delivered in live in-person lectures each week (2 hours per week). All lectures are recorded and available online through Echo360 for student who are unable to attend campus. Tutorials will be held each week from week 2. Attendance at all teaching events, either in-person or online, while not compulsory, is expected in line with “Code of Practice for Teaching and Learning”, clause 2 paragraph (b). Although there are no marks allocated for attendance but participation in lectures and tutorials is highly encouraged (Please also see in class exam section for participation marks). Please note that preparing for lectures and tutorials in advance will considerably enhance your performance in this course. 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)

See Assessment 4.

Assessment Task 1

In Class Exams

• There will be 9 in-class-exams to encourage the class participation. You will answer short essay type questions based on the lectures of a given week. Hence, reading the relevant chapters before the lectures and attending the lectures are necessary.
• These exams are designed to allocate participation marks to the students in a large class setting.
• Notice that attendance and participation are NOT the same. NO marks are allocated for attendance. In order to receive participation mark, attendance and taking the short exam must be satisfied at the same time.
• Each in-class exam's worth is 1 mark. Depending on the quality of your answer you will receive 1 mark (complete understanding), 1/2 marks (limited understanding) or zero marks (no understanding).
• In order to receive the class participation mark, you need to attend the lecture and take the in class short exam in the class. The exam will take 10 minutes and will be taken during the last 15 minutes of the lecture.
• If you were not being able to attend the lectures in a given week and can't take the exam with a valid excuse (i.e., being sick, work commitment, carer commitment, lecture clashes, etc.), we will reweight your in class short exams accordingly.
• The feedbacks from in-class-exams will be given on the following Friday.
• More information regarding in class-exams will be available in the course Wattle in Week 1.

Assessment Task 2

Homework Assignments

There will be two homework assignments. Students need to answer questions similar those of tutorial questions individually. The assignment questions will be posted to Wattle at least 5 business days before its due date. Please submit a PDF file version of your work through Turnitin.

Presentation requirements: No

Assessment Task 3

Mid-Semester Examination

This exam is compulsory and not redeemable. Exam covers topics studied in week 1-4 (inclusive) and will be 90 minutes long. The exam will take place in Week 6 during the regular lecture hours on-campus. This is a closed-book exam with a mix of short answer and long answer questions. Details regarding the exam will be provided in Wattle no later than week 4.

Assessment Task 4

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. This is a closed-book exam with a mix of short answer and long answer questions. The exam will be an on-campus exam. 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. 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.

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 all ANU students