- Code IDEC8030
- Unit Value 6 units
- Offered by Crawford School of Public Policy
- ANU College ANU College of Asia and the Pacific
- Course subject International and Developmental Economics
- Areas of interest Economics, Applied Economics
- Academic career PGRD
- Dr Larry Weifeng Liu
- Mode of delivery Online or In Person
Second Semester 2023
See Future Offerings
This course is available for on-campus & remote (online) learning. All students participate in interactive, real-time classes.
This course provides detailed coverage of key issues and models in international macroeconomics. Students will study and analyse open-economy models to understand the determination of current account balances, international capital flows, the real exchange rate, the nominal exchange rate, implications of exchange rate regimes, and fiscal and monetary policies in open economies. The course further extends the models to analyse international impacts of contemporary global issues including sovereign debt, population ageing, resource booms and busts, and climate policies.
Upon successful completion, students will have the knowledge and skills to:
- Demonstrate an advanced understanding of macroeconomic accounting and the balance of payments.
- Understand the determination of the current account, the real exchange rate, the nominal exchange rate, and the implications of exchange rate regimes.
- Use key tools to analyse the international implications of productivity growth, labour growth, fiscal and monetary policies.
- Evaluate the international impacts of global issues including sovereign debt, population ageing, resource booms and busts, and climate policies.
- Communicate macroeconomic concepts to a professional standard graphically, mathematically and in writing.
- Quiz (10) [LO 1,2,5]
- Mid-term essay (1,500 words) (20) [LO 1,2,3,4,5]
- Final group essay (3,000 words) (30) [LO 1,2,3,4,5]
- Final exam (40) [LO 1,2,3,4,5]
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.
The standard workload for a 6 unit course is 130 hours including class time and independent study.
This course draws materials from several textbooks and journal articles. The list below provides a general guidance to relevant textbooks. A detailed outline of the course with specific indicative readings will be posted on Wattle.
(1) Stephanie Schmitt-Grohe, Martin Uribe and Michael Woodford (2022). International Macroeconomics. Princeton University Press.
(2) Maurice Obstfeld and Kenneth Rogoff (1996). Foundations of International Macroeconomics. The MIT Press.
(3) Paul Krugman, Maurice Obstfeld and Marc Melitz (2018). International Economics. Pearson.
Foundational knowledge in microeconomics and macroeconomics are assumed. Skills in calculus and optimisation are also essential.
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:
- 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.
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