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Unit of study_

ECON6702: Macroeconomics Analysis 1 A

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.

Details

Academic unit Economics
Unit code ECON6702
Unit name Macroeconomics Analysis 1 A
Session, year
? 
Semester 2, 2022
Attendance mode Normal day
Location Camperdown/Darlington, Sydney
Credit points 6

Enrolment rules

Prohibitions
? 
ECON6002
Prerequisites
? 
None
Corequisites
? 
None
Available to study abroad and exchange students

Yes

Teaching staff and contact details

Coordinator Christopher Gibbs, christopher.gibbs@sydney.edu.au
Type Description Weight Due Length
Final exam (Open book) Type C final exam Final Exam
Type C
55% Formal exam period 2 hours
Outcomes assessed: LO1 LO2 LO3 LO4 LO5
Assignment Problem Set 1
Problem Set
5% Week 05
Due date: 30 Aug 2022 at 18:00
~500 words
Outcomes assessed: LO1 LO2 LO4 LO5
In-semester test (Open book) Type C in-semester exam Mid-semester exam
Type C
35% Week 07
Due date: 13 Sep 2022 at 18:00
1.5 hours
Outcomes assessed: LO1 LO5 LO2
Assignment Problem Set 2
Problem Set
5% Week 12
Due date: 25 Oct 2022 at 18:00
~500 words
Outcomes assessed: LO1 LO2 LO4 LO5
Type C final exam = Type C final exam ?
Type C in-semester exam = Type C in-semester exam ?

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

Assessment criteria

The University awards common result grades, set out in the Coursework Policy 2014 (Schedule 1).

As a general guide, a High Distinction indicates work of an exceptional standard, a Distinction a very high standard, a Credit a good standard, and a Pass an acceptable standard.

Result name

Mark range

Description

High distinction

85 - 100

 

Distinction

75 - 84

 

Credit

65 - 74

 

Pass

50 - 64

 

Fail

0 - 49

When you don’t meet the learning outcomes of the unit to a satisfactory standard.

For more information see sydney.edu.au/students/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.

Special consideration

If you experience short-term circumstances beyond your control, such as illness, injury or misadventure or if you have essential commitments which impact your preparation or performance in an assessment, you may be eligible for special consideration or special arrangements.

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.

WK Topic Learning activity Learning outcomes
Week 01 Solow Growth 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 LO3 LO5
Week 05 Real-Business-Cycle Theory Lecture (3 hr) LO1 LO2 LO3
Week 06 Nominal Rigidity Lecture (3 hr) LO2 LO4
Week 08 New-Keynesian DSGE Model Lecture (3 hr) LO1 LO2 LO3 LO4
Week 09 Monetary Policy Lecture (3 hr) LO2 LO4
Week 10 Monetary Policy, Time Inconsistency Lecture (3 hr) LO2 LO4
Week 11 Time Inconsistency Lecture (3 hr) LO1 LO2 LO5
Week 12 Fiscal Policy Lecture (3 hr) LO1 LO2 LO3
Week 13 Consumption Behaviour 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 the unit.

Required textbook: David Romer, Advanced Macroeconomics, 5th Edition, McGraw Hill, ISBN 978-1-260-18521-8

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 for their strengths and weaknesses, as well as how they relate to each other
  • LO3. Apply models to examine ongoing changes in the world economy and to evaluate and think critically about policy initiatives designed to address macroeconomic challenges in society
  • LO4. Analyse monetary and fiscal policy decisions based on models and empirical evidence
  • LO5. Demonstrate ability to read and reflect upon academic papers to keep abreast of recent developments in macroeconomic literature

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
No changes have been made since this unit was last offered.

Disclaimer

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