• 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
  • Course convener
    • Dr Larry Weifeng Liu
  • Mode of delivery Online or In Person
  • Offered in Second Semester 2024
    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.

Learning Outcomes

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

  1. Demonstrate an advanced understanding of macroeconomic accounting and the balance of payments.
  2. Understand the determination of the current account, the real exchange rate, the nominal exchange rate, and the implications of exchange rate regimes.
  3. Use key tools to analyse the international implications of productivity growth, labour growth, fiscal and monetary policies.
  4. Evaluate the international impacts of global issues including sovereign debt, population ageing, resource booms and busts, and climate policies.
  5. Communicate macroeconomic concepts to a professional standard graphically, mathematically and in writing.

Indicative Assessment

  1. Quiz (10) [LO 1,2,5]
  2. Mid-term essay (1,500 words) (20) [LO 1,2,3,4,5]
  3. Final group essay (3,000 words) (30) [LO 1,2,3,4,5]
  4. 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.

Inherent Requirements


Prescribed Texts


Preliminary Reading

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.

Assumed Knowledge

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.

Where there is a unit range displayed for this course, not all unit options below may be available.

6.00 0.12500
Domestic fee paying students
Year Fee Description
2024 $4680 Standard Rate
2024 $3720 Grandfathered Rate*

*continuing students in nominated programs only. See fee website

International fee paying students
Year Fee
2024 $6000
Note: Please note that fee information is for current year only.

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.

The list of offerings for future years is indicative only.
Class summaries, if available, can be accessed by clicking on the View link for the relevant class number.

Second Semester

Class number Class start date Last day to enrol Census date Class end date Mode Of Delivery Class Summary
On Campus
7328 22 Jul 2024 29 Jul 2024 31 Aug 2024 25 Oct 2024 In Person View
8946 22 Jul 2024 29 Jul 2024 31 Aug 2024 25 Oct 2024 Online View

Responsible Officer: Registrar, Student Administration / Page Contact: Website Administrator / Frequently Asked Questions