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Unit of study_

ECON6702: Macroeconomics Analysis 1 A

Semester 2, 2020 [Normal day] - Camperdown/Darlington, Sydney

This unit is aimed at providing students with a sound and comprehensive knowledge of modern macroeconomic theory, an ability to formulate and solve problems analytically, and a general appreciation of how policymakers can use the analysis in practice. Topics covered include (i) micro-foundations of macroeconomics, focusing on consumption, investment, money demand, and credit rationing; (ii) equilibrium macroeconomics, focusing on the conventional prototype as well as on recent stochastic macroeconomic models; and (iii) dis-equilibrium macroeconomics, concepts, issues, and models.

Unit details and rules

Unit code ECON6702
Academic unit Economics
Credit points 6
Prohibitions
? 
ECON6002
Prerequisites
? 
None
Corequisites
? 
None
Assumed knowledge
? 

None

Available to study abroad and exchange students

Yes

Teaching staff

Coordinator Christopher Gibbs, christopher.gibbs@sydney.edu.au
Type Description Weight Due Length
Final exam (Take-home extended release) Type E final exam Final Exam
Type E
60% Formal exam period 48 hours
Outcomes assessed: LO1 LO2 LO3 LO4 LO5
Assignment Problem Sets
Short answer and essay questions
10% Multiple weeks Varies
Outcomes assessed: LO1 LO2 LO3 LO4 LO5
In-semester test (Open book) Type C in-semester exam Take-home mid-semester exam
Take-home mid-semester exam 24 hour
30% Week 07
Due date: 14 Oct 2020 at 18:00

Closing date: 15 Oct 2020
3 hours
Outcomes assessed: LO1 LO2 LO4 LO5
Type C in-semester exam = Type C in-semester exam ?
Type E final exam = Type E final exam ?

Assessment summary

Detailed information for each assessment can be found in the Canvas site for this unit

Assessment criteria

Detailed information for each assessment can be found in the Canvas site for this unit

For more information see guide to grades.

Late submission

In accordance with University policy, these penalties apply when written work is submitted after 11:59pm on the due date:

  • Deduction of 5% of the maximum mark for each calendar day after the due date.
  • After ten calendar days late, a mark of zero will be awarded.

Academic integrity

The Current Student website  provides information on academic integrity and the resources available to all students. The University expects students and staff to act ethically and honestly and will treat all allegations of academic integrity breaches seriously.  

We use similarity detection software to detect potential instances of plagiarism or other forms of academic integrity breach. If such matches indicate evidence of plagiarism or other forms of academic integrity breaches, your teacher is required to report your work for further investigation.

You may only use artificial intelligence and writing assistance tools in assessment tasks if you are permitted to by your unit coordinator, and if you do use them, you must also acknowledge this in your work, either in a footnote or an acknowledgement section.

Studiosity is permitted for postgraduate units unless otherwise indicated by the unit coordinator. The use of this service must be acknowledged in your submission.

Simple extensions

If you encounter a problem submitting your work on time, you may be able to apply for an extension of five calendar days through a simple extension.  The application process will be different depending on the type of assessment and extensions cannot be granted for some assessment types like exams.

Special consideration

If exceptional circumstances mean you can’t complete an assessment, you need consideration for a longer period of time, or if you have essential commitments which impact your performance in an assessment, you may be eligible for special consideration or special arrangements.

Special consideration applications will not be affected by a simple extension application.

Using AI responsibly

Co-created with students, AI in Education includes lots of helpful examples of how students use generative AI tools to support their learning. It explains how generative AI works, the different tools available and how to use them responsibly and productively.

WK Topic Learning activity Learning outcomes
Week 01 Solow model Lecture (3 hr) LO1 LO2
Week 02 Ramsey model Lecture (3 hr) LO1 LO2
Week 03 Endogenous growth Lecture (3 hr) LO1 LO2
Week 04 Romer model, growth empirics Lecture (3 hr) LO1 LO2 LO5
Week 05 Rational expectations models Lecture (3 hr) LO2 LO3 LO5
Week 06 RBC Model Lecture (3 hr) LO2 LO3
Week 08 Rigidities Lecture (3 hr) LO2 LO4
Week 09 New-Keynesian DSGE Models Lecture (3 hr) LO1 LO2 LO3 LO4
Week 10 Monetary Policy Lecture (3 hr) LO1 LO2 LO4
Week 11 Time inconsistency and optimal policy Lecture (3 hr) LO1 LO2 LO4 LO5
Week 12 Monetary and fiscal policy interactions Lecture (3 hr) LO1 LO2 LO3 LO4 LO5
Week 13 Fiscal policy and consumption Lecture (3 hr) LO1 LO2 LO3 LO4 LO5

Attendance and class requirements

  • Attendance: According to Faculty Board Resolutions, students in the Faculty of Arts and Social Sciences are expected to attend 90% of their classes. If you attend less than 50% of classes, regardless of the reasons, you may be referred to the Examiner’s Board. The Examiner’s Board will decide whether you should pass or fail the unit of study if your attendance falls below this threshold.
  • Lecture recording: Most lectures (in recording-equipped venues) will be recorded and may be made available to students on the LMS. However, you should not rely on lecture recording to substitute your classroom learning experience.
  • Preparation: Students should commit to spend approximately three hours’ preparation time (reading, studying, homework, essays, etc.) for every hour of scheduled instruction.

Study commitment

Typically, there is a minimum expectation of 1.5-2 hours of student effort per week per credit point for units of study offered over a full semester. For a 6 credit point unit, this equates to roughly 120-150 hours of student effort in total.

Required readings

All readings for this unit can be accessed on the Library eReserve link available in the Canvas site for this unit.

Required textbook: David Romer, Advanced Macroeconomics, 4th or 5th Edition, McGraw Hill, ISBN 0-073511437-5

Learning outcomes are what students know, understand and are able to do on completion of a unit of study. They are aligned with the University's graduate qualities and are assessed as part of the curriculum.

At the completion of this unit, you should be able to:

  • LO1. Demonstrate knowledge of and ability to use the main models in macroeconomics for understanding long-run growth, business cycles, consumption, investment, and unemployment.
  • LO2. Analyse dynamic macroeconomic models.
  • LO3. Program basic dynamic macroeconomic models in MATLAB.
  • LO4. Analyse monetary policy decisions.
  • LO5. Demonstrate ability to read academic papers to keep abreast of recent developments in macroeconomics.

Graduate qualities

The graduate qualities are the qualities and skills that all University of Sydney graduates must demonstrate on successful completion of an award course. As a future Sydney graduate, the set of qualities have been designed to equip you for the contemporary world.

GQ1 Depth of disciplinary expertise

Deep disciplinary expertise is the ability to integrate and rigorously apply knowledge, understanding and skills of a recognised discipline defined by scholarly activity, as well as familiarity with evolving practice of the discipline.

GQ2 Critical thinking and problem solving

Critical thinking and problem solving are the questioning of ideas, evidence and assumptions in order to propose and evaluate hypotheses or alternative arguments before formulating a conclusion or a solution to an identified problem.

GQ3 Oral and written communication

Effective communication, in both oral and written form, is the clear exchange of meaning in a manner that is appropriate to audience and context.

GQ4 Information and digital literacy

Information and digital literacy is the ability to locate, interpret, evaluate, manage, adapt, integrate, create and convey information using appropriate resources, tools and strategies.

GQ5 Inventiveness

Generating novel ideas and solutions.

GQ6 Cultural competence

Cultural Competence is the ability to actively, ethically, respectfully, and successfully engage across and between cultures. In the Australian context, this includes and celebrates Aboriginal and Torres Strait Islander cultures, knowledge systems, and a mature understanding of contemporary issues.

GQ7 Interdisciplinary effectiveness

Interdisciplinary effectiveness is the integration and synthesis of multiple viewpoints and practices, working effectively across disciplinary boundaries.

GQ8 Integrated professional, ethical, and personal identity

An integrated professional, ethical and personal identity is understanding the interaction between one’s personal and professional selves in an ethical context.

GQ9 Influence

Engaging others in a process, idea or vision.

Outcome map

Learning outcomes Graduate qualities
GQ1 GQ2 GQ3 GQ4 GQ5 GQ6 GQ7 GQ8 GQ9

This section outlines changes made to this unit following staff and student reviews.

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Disclaimer

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