- Class Number 7038
- Term Code 3360
- Class Info
- Unit Value 6 units
- Mode of Delivery In Person
- Chung Tran
- Chung Tran
- Class Dates
- Class Start Date 24/07/2023
- Class End Date 27/10/2023
- Census Date 31/08/2023
- Last Date to Enrol 31/07/2023
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.
Upon successful completion, students will have the knowledge and skills to:
- define a coherent set of ideas for understanding macroeconomic phenomena and policy issues;
- demonstrate an understanding of the assumptions, structure and micro-foundations of a macroeconomic model and its power and shortcomings;
- formulate a relevant model and use such analytical tools in addressing a key macroeconomic question independently;
- demonstrate an understanding of the different ways in which economic issues can be tackled.
How to manage/run the Australia economy?
This course aims to bring students to the frontier theories and models in macroeconomics, and prepare them to manage/run the Australian economy in future. It will address topical policy challenges and issues Australia and the world face.
Additional Course Costs
Examination Material or equipment
This information will be available on Wattle at least 2 weeks before exams.
+ 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 posted on the Wattle site.
+ Additional reading materials posted on the Wattle site.
See the course outline.
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
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.
|Summary of Activities
|Introduction and Review
|No tutorials in week 1
|Economic Growth: Facts and Theory (Chapters 7-8)
|Tutorials from week 2
|Economic Growth: Policy and Growth (Chapters 7-8)
|Exercise 1 (in-person during tutorial sessions, 2%)
|Consumption and Leisure Decisions (Chapter 4)
|Assignment 1 (online via Wattle, 5%)
|Static General Equilibrium Model: Set up and Application
|Exercise 2 (in-person during tutorial sessions, 2%)
|Special topics: Fiscal stimulus, deficits and fiscal limits
|Assignment 2 (in-person during tutorial, 10%)
|Two Period Model (Chapters 9-10)
|Exercise 3 (in-person during tutorial sessions, 2%)
|Dynamic General Equilibrium Model: Set up (Chapter 11)
|Assignment 3 (online via Wattle, 5%)
|Dynamic General Equilibrium Model: Fiscal Policy (Chapter 11)
|Exercise 4 (in-person during tutorial sessions, 2%)
|Real Business Cycle Model: Set up and Application (Chapter 12
|Assignment 4 (online via Wattle, 5%)
|New Keynesian Model: Money, Business Cycles and Stabilisation Policy (Chapters 12 and 13)
|Exercise 5 (in-person during tutorial sessions, 2%)
|Special topics: Quantitative easing, inflation and budget repairing measures
|Assignment 5 (online via Wattle, 5%)
|Final exam (In-person, 60%)
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].
|Return of assessment
|In-tutorial practice exercises 1-5 (10%)
|Final examination (60%)
* If the Due Date and Return of Assessment date are blank, see the Assessment Tab for specific Assessment Task details
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
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.
Lectures (in-person): 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): From Week 2 there will be in-person tutorial sessions. 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 at least one week in advance.
Please note that preparing for lectures and tutorials in advance will considerably enhance your performance in this course.
The final exam (in-person, 180 minutes) is compulsory. The exact date will be announced by the University. The final exam will cover the content from Week 4. The exam will consist of short answer questions. The detailed instructions will be posted on the Wattle site in Week 10.
Assessment Task 1
Learning Outcomes: 1-4
There are five assignments:
-> Assignment 1 (online, 5%) in Week 4 with the content from Weeks 1-2
-> Assignment 2 (in-person, 10%) in Week 6 with the content from Weeks 3-5
-> Assignment 3 (online, 5%) in Week 8 with the content from Weeks 6-7
-> Assignment 4 (online, 5%) in Week 10 with the content from Weeks 7-10
-> Assignment 5 (online, 5%) in Week 12 with the content from Week 12
· On-line assignments: Four times during the semester, student will be given online assignments (20-30 minutes). These assignments will be administered via Wattle during weeks 4, 8, 10 and 12. These learning activities are optional. Students who skip these learning activities will have larger weighting for the final exam when calculating the final mark. More information will be announced in the Wattle site.
· In-person assignment: The in-person assignment (50 minutes) will be held during tutorials in Week 6. This learning activity is optional. Students who skip this assignment will have bigger weighting for the final exam when calculating the final mark. This adjustment will be done automatically at the end of the semester. More information will be announced in the Wattle site in Week 4.
Assessment Task 2
Learning Outcomes: 1-4
In-tutorial practice exercises 1-5 (10%)
There will be five practice exercises (5-10 minutes) during weekly tutorials. Students will be given short questions to review the economic theories and models covered in lectures and tutorials. These learning activities are optional. Students who skip these learning activities will have bigger weighting for the final exam when calculating the final mark. This adjustment will be done automatically at the end of the semester.
Assessment Task 3
Learning Outcomes: 1-4
Final examination (60%)
+ The final exam (180 minutes) is compulsory.
+ The exact date and time will be announced by the university, and run as an in-person invigilated exam by ANU Examinations.
+ The final exam is comprehensive and covers the content listed in the course outline, notes, slides and additional reading materials.
+ The detailed instruction/preparation will be posted on the Wattle site in Week 10.
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.
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.
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 not permitted. If submission of assessment tasks without an extension after the due date is not permitted, a mark of 0 will be awarded.
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.
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