ECOP2612: Semester 2, 2022

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Units ECOP2612 Semester 2 2022 [Normal day]

Unit of study_

ECOP2612: Economic Policy and the State

Semester 2, 2022 [Normal day] - Camperdown/Darlington, Sydney

Overview

One of the most contentious issues in economic debates concerns the role of the state in responding to contemporary economic and social problems such as financial crises, ruptures in relations with major trading partners, or pandemics like COVID-19. In this unit, you will interrogate the contemporary economic policies of the Australian state. You will consider: how these macroeconomic policies have evolved as they have been shaped by different economic theories, interests, and ideologies; how these policies actually operate in practice; and, how a nation-state’s economic policies are influenced by international economic factors.

Unit details and rules

Unit code	ECOP2612
Academic unit	Political Economy
Credit points	6
Prohibitions ?	None
Prerequisites ?	12 credit points at 1000 level in Political Economy
Corequisites ?	None
Assumed knowledge ?	None
Available to study abroad and exchange students	Yes

Teaching staff

Coordinator	Susan Schroeder, susan.schroeder@sydney.edu.au

Type	Description	Weight	Due	Length
Participation	Tutorial participation n/a	10%	-	n/a
Outcomes assessed:
Assignment	Essay 3 n/a	30%	Formal exam period Due date: 21 Nov 2022 at 23:59	1500 words
Outcomes assessed:
Assignment	Essay 1 n/a	25%	Week 06 Due date: 05 Sep 2022 at 23:59	1000 words
Outcomes assessed:
Assignment	Essay 2 n/a	35%	Week 11 Due date: 17 Oct 2022 at 23:59	2000 words
Outcomes assessed:

Assessment summary

Detailed information for each assessment can be found on Canvas.

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

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.

Learning support

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.

Weekly schedule

WK	Topic	Learning activity
Week 01	Introduction - Challenges we face today	Lecture (2 hr)
Week 02	Explaining recessions with a Conservative Lens; Tutorial: Reading graphs and math refresher	Lecture and tutorial (3 hr)
Week 03	Explaining recessions as per Keynes' General Theory; Tutorial: What are sources of stability in the Classical pre-Keynesian approach? What do you think are the key concepts?	Lecture and tutorial (3 hr)
Week 04	Recessions today (Pandemics, Lockdowns and War); Tutorial: What are the sources of instability in Keynes’s approach? What do you think are the key concepts?	Lecture and tutorial (3 hr)
Week 05	Inflation and Stagnation; Tutorial: How are economic contractions different because of the pandemic and war in Ukraine? Are there new concepts and/or mechanisms at work?	Lecture and tutorial (3 hr)
Week 06	National Debt and Sustainability; Tutorial: What are the sources of inflation today? What are the pro's and con's of price controls?	Lecture and tutorial (3 hr)
Week 07	The Labor Market, Unemployment and Inequality; Tutorial: In what ways is Australia's national debt problematic?	Lecture and tutorial (3 hr)
Week 08	Trade and Globalization: Tutorial: What is an incomes policy?	Lecture and tutorial (3 hr)
Week 09	Financialization and Industries; Tutorial: In what ways is the war in Ukraine impacting global trade?	Lecture and tutorial (3 hr)
Week 10	Climate Change and Transition Mechanisms (Green New Deal/New Deal) Tutorial: What types of policies could reverse financialization?	Lecture and tutorial (3 hr)
Week 11	Eco-communities and Circular Economies; Tutorial: What is Australia doing well to facilitate an ecological transition? What could it do better?	Lecture and tutorial (3 hr)
Week 12	Modern Money Theory (MMT) & Re-booting Post-Keynesian Economics Tutorial: what are the pro's and con's of eco-communities and circular economies for satisfying human needs?	Lecture and tutorial (3 hr)
Week 13	See where you've been!; tutorial: recitation	Lecture and tutorial (3 hr)

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

See reading list and e-reserve for readings. There may be additional material provided in the modules.

Learning outcomes

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.

Outcomes
Graduate qualities

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

LO1. critically analyse and competently discuss the underlying macroeconomic frameworks of the predominant policy stances since the Great Depression
LO2. understand how the history of economic and social events has influenced the development of economic thinking and policy design
LO3. demonstrate the ability to conduct independent research that builds on the class materials in an original way
LO4. recognise and evaluate the alternative political economic traditions and their policy recommendations
LO5. engage with peers regarding various issues regarding economic policy.

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
Learning outcomes

Responding to student feedback

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

ECOP2612 was flipped recently, meaning it is now topics-focused. Theory is introduced to help expand your understanding of selected phenomena.

Additional information

Style preference: Harvard citation

All components are compulsory.

Disclaimer

The University reserves the right to amend units of study or no longer offer certain units, including where there are low enrolment numbers.

To help you understand common terms that we use at the University, we offer an online glossary.

Current students

Overview

Overview

Unit details and rules

Teaching staff

Assessment

Assessment

Assessment summary

Assessment criteria

Late submission

Academic integrity

Learning support

Learning support

Simple extensions

Special consideration

Using AI responsibly

Weekly schedule

Weekly schedule

Attendance and class requirements

Study commitment

Required readings

Learning outcomes

Learning outcomes

Graduate qualities

Outcome map

Responding to student feedback

Responding to student feedback

Additional information

Additional information

Disclaimer

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