Macroeconomic Techniques

Subject 316-671 (2008)

Note: This is an archived Handbook entry from 2008.Search for this in the current handbook

Credit Points: 12.500
Level: Graduate/Postgraduate
Dates & Locations:

This subject has the following teaching availabilities in 2008:

Semester 2, - Taught on campus.
Pre-teaching Period Start not applicable
Teaching Period not applicable
Assessment Period End not applicable
Last date to Self-Enrol not applicable
Census Date not applicable
Last date to Withdraw without fail not applicable


Timetable can be viewed here. For information about these dates, click here.
Time Commitment: Contact Hours: Three hours of classes per week plus three hours ofseminars during the semester (Semester 2).
Total Time Commitment: Not available
Prerequisites: 316-612 Macroeconomics
Corequisites: None
Recommended Background Knowledge: None
Non Allowed Subjects: None
Core Participation Requirements:

For the purposes of considering request for Reasonable Adjustments under the Disability Standards for Education (Cwth 2005), and Student Support and Engagement Policy, academic requirements for this subject are articulated in the Subject Overview, Learning Outcomes, Assessment and Generic Skills sections of this entry.

It is University policy to take all reasonable steps to minimise the impact of disability upon academic study, and reasonable adjustments will be made to enhance a student's participation in the University's programs. Students who feel their disability may impact on meeting the requirements of this subject are encouraged to discuss this matter with a Faculty Student Adviser and Student Equity and Disability Support: http://services.unimelb.edu.au/disability
Subject Overview: Introduction to recent developments in macroeconomics. Students will learn how to formulate and solve stochastic dynamic economic models and to apply these techniques to a number of substantive issues in consumption, asset pricing, business cycle theory, monetary economics and labour economics. The course will also cover dynamic models with heterogeneous households and will use these models to analyse income and wealth inequality (and other topics as time permits).
Assessment: A 1.5-hour mid-semester examination (20%), a 3-hour final examination (50%) and class assignments of up to 6000 words (30%).
Prescribed Texts: None
Breadth Options:

This subject is not available as a breadth subject.
Fees Information: Subject EFTSL, Level, Discipline & Census Date
Generic Skills: On successful completion of this subject students should be able to:
  • Identify well posed economic questions;
  • Formulate economic models that could provide answers to well posed questions;
  • Apply existing empirical work to parameterize such models;
  • Write computer programs that solve such models;
  • Evaluate empirically the performance of such models;
  • Evaluate additional implications of such models over and above the question(s) they were designed to answer;
  • Evaluate recent contributions to macroeconomics;
  • Analyse the interplay of questions, theory, and data.

On successful completion of this subject, students should have improved the following generic skills:

  • Evaluation of ideas, views and evidence;
  • Synthesis of ideas, views and evidence;
  • Strategic thinking;
  • Critical thinking;
  • Application of theory to economic policy and business decision making;
  • Accessing economic and other information;
  • Summary and interpretation of information;
  • Application of Windows software;
  • Using and designing computer programs;
  • Statistical reasoning;
  • Problem solving skills;
  • Collaborative learning and teamwork;
  • Negotiation and bargaining;
  • Written communication;
  • Oral communication.
Related Course(s): Master of Commerce - Economics

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