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Unit of study_

ECOS2002: Intermediate Macroeconomics

Semester 2, 2022 [Normal day] - Remote

This unit of study develops models of the goods, money and labour markets, and examines issues in macroeconomic policy. Macroeconomic relationships, covering consumption, investment, money and employment, are explored in detail. Macro-dynamic relationships, especially those linking inflation and unemployment, are also considered. Exchange rates and open economy macroeconomics are also addressed. In the last part of the unit, topics include the determinants and theories of economic growth, productivity and technology, the dynamics of the business cycle, counter-cyclical policy and the relationship between micro and macro policy in the context of recent Australian experience.

Unit details and rules

Unit code ECOS2002
Academic unit Economics
Credit points 6
Prohibitions
? 
ECON2002 or ECON2902 or ECOS2902
Prerequisites
? 
ECON1002 or ECON1040
Corequisites
? 
None
Assumed knowledge
? 

None

Available to study abroad and exchange students

Yes

Teaching staff

Coordinator Syed Atif, syed.atif@sydney.edu.au
Lecturer(s) Michaela Haderer, michaela.haderer@sydney.edu.au
Type Description Weight Due Length
Final exam (Open book) Type C final exam Final exam
Short-answer and multiple-choice questions
50% Formal exam period 2 hours
Outcomes assessed: LO1 LO9 LO7 LO6 LO5 LO4 LO3 LO2
Tutorial quiz Quizzes
Problem solving and critical thinking
15% Multiple weeks 30 minutes
Outcomes assessed: LO1 LO9 LO8 LO7 LO6 LO5 LO4 LO3 LO2
Participation Tutorial Participation
Tutorial participation
5% Ongoing Ongoing
Outcomes assessed: LO1 LO9 LO8 LO7 LO6 LO5 LO4 LO3 LO2
In-semester test (Open book) Type C in-semester exam Mid-semester exam
Short-answer and multiple-choice questions
30% Week 07
Due date: 12 Sep 2022 at 13:00
1 hour
Outcomes assessed: LO1 LO7 LO6 LO5 LO4 LO3 LO2
Type C final exam = Type C final exam ?
Type C in-semester exam = Type C in-semester exam ?

Assessment summary

Detailed information for each assessment will be announced in lectures and posted on Canvas closer to the relevant assessment.

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.

WK Topic Learning activity Learning outcomes
Week 01 Review and Introduction of Macroeconomic Indicators Lecture and tutorial (3 hr) LO1 LO2 LO3 LO4 LO5 LO6 LO7 LO8 LO9
Week 02 The Goods and Financial Market Lecture and tutorial (3 hr) LO1 LO2 LO3 LO4 LO5 LO6 LO7 LO8 LO9
Week 03 The IS-LM Model Lecture and tutorial (3 hr) LO1 LO2 LO3 LO4 LO5 LO6 LO7 LO8 LO9
Week 04 The Labour Market Lecture and tutorial (3 hr) LO1 LO2 LO3 LO4 LO5 LO6 LO7 LO8 LO9
Week 05 The AS-AD Model Lecture and tutorial (3 hr) LO1 LO2 LO3 LO4 LO5 LO6 LO7 LO8 LO9
Week 06 The Phillips Curve Lecture and tutorial (3 hr) LO1 LO2 LO3 LO4 LO5 LO6 LO7 LO8 LO9
Week 07 Mid-semester exam Lecture (3 hr) LO1 LO2 LO3 LO4 LO5 LO6 LO7 LO8 LO9
Week 08 Expectations, Output, and Policy Lecture and tutorial (3 hr) LO1 LO2 LO3 LO4 LO5 LO6 LO7 LO8 LO9
Week 10 Contemporary Macroeconomic Issues Lecture and tutorial (3 hr) LO1 LO2 LO3 LO4 LO5 LO6 LO7 LO8 LO9
Week 11 The Open Economy and Exchange Rate Lecture and tutorial (3 hr) LO1 LO2 LO3 LO4 LO5 LO6 LO7 LO8 LO9
Week 12 Long-Run Economic Growth Lecture and tutorial (3 hr) LO1 LO2 LO3 LO4 LO5 LO6 LO7 LO8 LO9
Week 13 Technological Progress and Growth Lecture and tutorial (3 hr) LO1 LO2 LO3 LO4 LO5 LO6 LO7 LO8 LO9

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: All lectures will be recorded and made available to students on Canvas. 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

Blanchard. (2020). Macroeconomics. Pearson Education.

OR

Blanchard, & Sheen, J. (2013). Macroeconomics. Pearson Education Australia.

There are additional required and suggested readings that will be assigned through the Canvas site.

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. understand theoretical models that form the body of contemporary macroeconomics
  • LO2. understand and apply macroeconomic models to various economic problems and policy issues
  • LO3. understand the associated empirical implications of policy issues
  • LO4. apply new ways of thinking and appreciate the importance of intellectual curiosity and reflection as foundation for continuous learning
  • LO5. identify, define and analyse problems and recommend creative solutions within real-world constraints
  • LO6. demonstrate a capacity to work independently including the ability to plan and achieve goals
  • LO7. critically evaluate underlying theories, concepts, assumptions, limitations and arguments in disciplinary and cross-disciplinary fields of study
  • LO8. intellectually participate in public policy discussions arising in business and government environments
  • LO9. manage, analyse, evaluate and use information efficiently and effectively.

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
LO1         
LO2         
LO3         
LO4         
LO5         
LO6         
LO7         
LO8         
LO9         

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

Slight adjustments have been made to the topics and relevant texts based on student feedback and engagement from previous semester.

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.