Macroeconomics II

Subject ECON90014 (2010)

Note: This is an archived Handbook entry from 2010.

Credit Points: 12.50
Level: 9 (Graduate/Postgraduate)
Dates & Locations:

This subject has the following teaching availabilities in 2010:

Semester 2, Parkville - 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: Seminars or lectures and tutorials totalling three hours per week
Total Time Commitment: Estimated total time commitment of 120 hours per semester
Prerequisites: 316-612 Macroeconomics
Corequisites: None
Recommended Background Knowledge: None
Non Allowed Subjects: None
Core Participation Requirements:

For the purposes of considering requests for Reasonable Adjustments under the Disability Standards for Education (Cwth 2005), and Students Experiencing Academic Disadvantage Policy, academic requirements for this subject are articulated in the Subject Description, Subject Objectives, Generic Skills and Assessment Requirements for this entry.

The University is dedicated to provide support to those with special requirements. Further details on the disability support scheme can be found at the Disability Liaison Unit website: http://www.services.unimelb.edu.au/disability/

Coordinator

Dr May Li

Contact

Graduate School of Business and Economics Student Centre
Level 4, 198 Berkeley Street
Telephone: +61 3 8344 1670
Online Enquiries: http://www.gsbe.unimelb.edu.au/future/unity_forms/contact.html
Web: www.melbournegsm.unimelb.edu.au
Subject Overview: This subject builds on the work covered in 316-312 Macroeconomics. The focus is on providing a detailed coverage of particular topics of contemporary importance. Topics covered may include: macroeconomic dynamics, macroeconomic models of the open economy, economic growth, credit rationing, the monetary transmission mechanism, irreversibility and investment, problems in designing and implementing macroeconomic policies, and analyses of unemployment and the labour market.
Objectives: On successful completion of this subject students should be able to:
  • Solve first-order and second-order ordinary differential equations and apply these solutions to explain possible macroeconomic outcomes;
  • Apply basic dynamic techniques to macroeconomic models in order to solve for short-run and long-run outcomes;
  • Apply the techniques of static and dynamic optimisation to solve macroeconomic problems;
  • Solve the problem of the representative firm and of the optimising consumer;
  • Integrate the model of the representative firm and the optimising consumer into a representative agent model of the economy;
  • Apply standard dynamic techniques to growth theory models;
  • Apply dynamic macroeconomic models to explain likely economic outcomes in the short-run, in the long-run and in the transition from short-run to long-run equilibria;
  • Use optimisation techniques to derive theoretical models that can explain the behaviour of economic agents;
  • Integrate theoretical models based on optimising behaviour into full-scale models of the macro-economy.
Assessment:
  • One 2-hour examination (60%)
  • Class assignments totalling approximately 4000 words (40%)
Prescribed Texts: You will be advised of prescribed texts by your lecturer.
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 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
  • Summary and interpretation of information
  • Statistical reasoning
  • Problem solving skills
  • Collaborative learning and teamwork
  • Written communication
Related Course(s): Master of Commerce - Economics
Ph.D.-Economics and Commerce

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