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Unit of study_

ECOP3601: Economic Cycles and Instability

Semester 1, 2024 [Normal day] - Camperdown/Darlington, Sydney

This unit journeys through episodes of crises and instability in order to understand their key dynamics are embedded within historical, institutional and social contexts. You will study why some crises have a cyclical character while others do not, and how crisis contains elements to unlock the secrets of present-day and future sources of instability. To detect patterns (trends, cycles and volatility), you will be trained to use basic time series techniques for data analysis which will also assist you to undertake a project that evaluates sources of instability and discusses the challenges for policymakers to soften the ill-effects of economic downturns and create conditions for recovery.

Unit details and rules

Unit code ECOP3601
Academic unit Political Economy
Credit points 6
Prohibitions
? 
ECOP2601
Prerequisites
? 
12 credit points at 2000 level in Political Economy
Corequisites
? 
None
Assumed knowledge
? 

None

Available to study abroad and exchange students

No

Teaching staff

Coordinator Susan Schroeder, susan.schroeder@sydney.edu.au
Lecturer(s) Susan Schroeder, susan.schroeder@sydney.edu.au
Type Description Weight Due Length
Assignment Essay 2
Essay
35% Formal exam period
Due date: 07 Jun 2024 at 23:59
2800 words
Outcomes assessed: LO1 LO2 LO3 LO4 LO5
Online task Exercises
Module/practical exercises
25% Multiple weeks 1200 words (4 x 300)
Outcomes assessed: LO2 LO3
Participation Participation
Participation
10% Ongoing n/a
Outcomes assessed: LO1 LO3
Assignment Essay
Essay
30% Week 06
Due date: 24 Mar 2024 at 23:59
2000 words
Outcomes assessed: LO1 LO4

Assessment summary

Detailed information for each assessment can be found on Canvas.

All assessments must be attempted.

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.

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.

Support for students

The Support for Students Policy 2023 reflects the University’s commitment to supporting students in their academic journey and making the University safe for students. It is important that you read and understand this policy so that you are familiar with the range of support services available to you and understand how to engage with them.

The University uses email as its primary source of communication with students who need support under the Support for Students Policy 2023. Make sure you check your University email regularly and respond to any communications received from the University.

Learning resources and detailed information about weekly assessment and learning activities can be accessed via Canvas. It is essential that you visit your unit of study Canvas site to ensure you are up to date with all of your tasks.

If you are having difficulties completing your studies, or are feeling unsure about your progress, we are here to help. You can access the support services offered by the University at any time:

Support and Services (including health and wellbeing services, financial support and learning support)
Course planning and administration
Meet with an Academic Adviser

WK Topic Learning activity Learning outcomes
Week 01 Introduction Seminar (2 hr)  
Week 02 Financial Crises - The Tulip mania & the South Sea Bubble Seminar (2 hr) LO1 LO2 LO5
Week 03 Navigating Excel Seminar (2 hr) LO2
Week 04 Sovereign Debt Crises Seminar (2 hr) LO1 LO2 LO5
Week 05 Economic Cycles - From Early Cycles to Long Waves Seminar (2 hr) LO1 LO2 LO5
Week 06 Graphing in Excel - Rate of Growth, Moving Averages, Trend versus Cycle Seminar (2 hr) LO2 LO3 LO5
Week 07 Banking & Currency Crises - Asian Financial Crisis Seminar (2 hr) LO1 LO2 LO5
Week 08 Global Financial Crisis - Orthodox & Heterodox Explanations Seminar (2 hr) LO1 LO2 LO5
Week 09 Empirical learning: autocorrelation function, autoregressive models, and the issue of stationarity Seminar (2 hr) LO2 LO3
Week 10 Essay Research Week Independent study (2 hr) LO4
Week 11 Climate Change (as a source of instability) Seminar (2 hr) LO1 LO2 LO5
Week 12 Inequality (as a source of instability) Seminar (2 hr) LO1 LO2 LO5
Week 13 Empirical learning: Granger Causality & Vector Autoregression (if time volatility and cointegration) Seminar (2 hr) LO1 LO2 LO3 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 on Canvas.

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 working knowledge of the history and theory of cyclical behavior in capitalist economies
  • LO2. understand how cycles can influence various aspects of modern day societies (e.g. unemployment and income distribution)
  • LO3. apply quantitative skills learned in this unit to detect cyclical patterns (e.g., indexes, moving averages and time series analysis)
  • LO4. demonstrate the ability to conduct independent research which builds on the class material in an original way
  • LO5. think on your own feet regarding thematic questions and current issues concerning the structure of economic policies to combat the onset and ill effects of cycles.

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.

The unit has been re-structured to accommodate active learning activities. All assessments must be attempted in this unit. The syllabus was amended in consultation with Dr Susan Schroeder and the pre-essay assignment task was replaced with practical exercises with the same weighting.

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.