• Offered by Crawford School of Public Policy
  • ANU College ANU College of Asia and the Pacific
  • Classification Advanced
  • Course subject International and Developmental Economics
  • Areas of interest Economics, Applied Economics
  • Academic career PGRD
  • Course convener
    • Prof Ippei Fujiwara
  • Mode of delivery In Person
  • Offered in Winter Session 2022
    See Future Offerings

In 2022 the class dates are July 25; August 1, 8, 15, 22, 29.

Quantitative assessment is necessary for macroeconomics and macroeconomic policymaking. This course will provide students with skills in two major analytical tools for quantitative evaluation in macroeconomics, particularly monetary policy: vector autoregressive (VAR) and dynamic stochastic general equilibrium (DSGE) models. These tools are heavily used in academic literature and policy analysis in central banks and international organisations. Using these methods, students will be able to identify the sources of macroeconomic fluctuations, gauge how structural shocks affect macroeconomic variables dynamically (impulse responses), forecast, and explore optimal policies. The course is technical and students are expected to have a good understanding of statistics and mathematics prior to enrolling.

Learning Outcomes

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

  1. Demonstrate capacity in utilising key tools for macroeconomic policy analysis such as the VAR and DSGE methods.
  2. Understand policy and discussion papers published by central banks and international organisations.
  3. Undertake applied research on monetary policy and central banking using VAR methods.
  4. Utilise the DSGE approach to analyse optimal monetary and fiscal policies.

Indicative Assessment

  1. Proposal for research paper (10) [LO 1,2,3]
  2. Research paper using the VAR approach (maximum 5,000 words) (50) [LO 1,2,3]
  3. Final exam (40) [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

The standard workload for a 6 unit course is 120 hours including in class time and independent study.

Inherent Requirements

Prescribed Texts

Related academic papers will be introduced in the lectures. Notes will be provided for the lectures.

Assumed Knowledge

Good knowledge of statistics, probability, econometrics, microeconomics and macroeconomics are necessary. This is not a course for those who have not taken these courses at the graduate level and do not feel comfortable with these subjects. The course material is technical and students are expected to have a good understanding of statistics and mathematics in advance.

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
Domestic fee paying students
Year Fee Description
2022 $4440 Standard Rate
2022 $3510 Grandfathered Rate*

*continuing students in nominated programs only. See fee website

International fee paying students
Year Fee
2022 $5700
Note: Please note that fee information is for current year only.

Offerings, Dates and Class Summary Links

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.

Winter Session

Class number Class start date Last day to enrol Census date Class end date Mode Of Delivery Class Summary
Online
4192 18 Jul 2022 25 Jul 2022 12 Aug 2022 30 Sep 2022 Online N/A
On Campus
4644 18 Jul 2022 25 Jul 2022 12 Aug 2022 30 Sep 2022 In Person N/A

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