This course is available for on-campus & remote (online) learning. All students participate in interactive, real-time classes.
This course covers a range of topics driving the research agenda in modern macroeconomics. Topics include international finance and open economy macroeconomics, macroeconomic dynamics, population and development, finance and investment, macroeconomic policy under uncertainty, and globalisation, trade and development. The course is aimed at providing students with a comprehensive knowledge of modern macroeconomic theory in a way that develops intuition and a technical ability to apply macroeconomic theory in practice. Students will be equipped with the key tools needed to formulate and solve problems analytically and provided with an appreciation of how these tools can be used to understand real world events and policy.
Learning Outcomes
Upon successful completion, students will have the knowledge and skills to:
- Demonstrate mastery of advanced concepts, techniques, and theories that drive the research agenda in modern macroeconomics.
- Apply advanced macroeconomic tools to the analysis of macroeconomic dynamics, open economy and finance, and development.
- Explain advanced concepts using intuition and demonstrate competency with the techniques required to model macroeconomic trends and policy challenges.
- Contextualise real world situations and analyse them using advanced theories in macroeconomics.
Indicative Assessment
- Written assignment (1,000 words) (10) [LO 1,2,3,4]
- Mid-semester exam (30) [LO 1,2,3,4]
- Final exam (60) [LO 1,2,3,4]
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.
Workload
A standard course workload is 130 hours including in class times and independent study.
Inherent Requirements
Not applicable
Prescribed Texts
The textbooks for this course are:
Jones, Charles I. and Vollrath, Dietrich (2013) Introduction to Economic Growth, 3rd edition, W.W. Norton.
Romer, David (2019) Advanced Macroeconomics, 5th edition, McGraw Hill.
A detailed outline to accompany the course schedule, with suggested readings in parentheses, will be posted on Wattle.
Preliminary Reading
The following textbook may be helpful for reviewing mathematical techniques used in this course:
Hoy, Michael et al (2001) Mathematics for Economics, 2nd edition, MIT Press, ISBN 0-262-58207-4.
The following useful textbooks offer a more advanced or detailed treatment of macroeconomic models:
Barro, Robert J. and Sala-i-Martin, Xavier, (1995) Economic Growth, MIT Press, ISBN 0-262-02459-4.
Blanchard, Olivier J. and Fischer, Stanley (1994) Lectures on Macroeconomics, MIT Press, ISBN 0-262-02283-4.
Schmitt-Grohe, Stephanie and Uribe, Martin (2011) International Macroeconomics (downloadable at http://www.columbia.edu/~mu2166/UIM/notes.pdf).
Obstfeld, Maurice and Kenneth Rogoff (1996) Foundations of International Macroeconomics, MIT Press.
Assumed Knowledge
Students are expected to be familiar with intermediate macroeconomic theory and with undergraduate mathematical economics.
Fees
Tuition fees are for the academic year indicated at the top of the page.
Commonwealth Support (CSP) Students
If you have been offered a Commonwealth supported place, your fees are set by the Australian Government for each course. At ANU 1 EFTSL is 48 units (normally 8 x 6-unit courses). More information about your student contribution amount for each course at Fees.
- Student Contribution Band:
- 34
- Unit value:
- 6 units
If you are a domestic graduate coursework student with a Domestic Tuition Fee (DTF) place or international student you will be required to pay course tuition fees (see below). Course tuition fees are indexed annually. Further information for domestic and international students about tuition and other fees can be found at Fees.
Where there is a unit range displayed for this course, not all unit options below may be available.
| Units | EFTSL |
|---|---|
| 6.00 | 0.12500 |
Course fees
- Domestic fee paying students
| Year | Fee | Description |
|---|---|---|
| 2023 | $4560 | Standard Rate |
| 2023 | $3600 |
Grandfathered Rate*
*continuing students in nominated programs only. See fee website |
- International fee paying students
| Year | Fee |
|---|---|
| 2023 | $5820 |
Offerings, Dates and Class Summary Links
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.
Class summaries, if available, can be accessed by clicking on the View link for the relevant class number.