ECOS3902: Semester 2, 2021

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Units ECOS3902 Semester 2 2021 [Normal day]

Unit of study_

ECOS3902: Advanced Macroeconomics Honours

Semester 2, 2021 [Normal day] - Camperdown/Darlington, Sydney

Overview

ECOS3902 Advanced Macroeconomics is a third year honours unit of study in macroeconomics. Its main objective is to develop a framework for thinking about macroeconomic questions. This unit is designed for the students enrolled in the Economics Honours stream. ECOS2901, ECOS2902, ECOS2903 and ECOS3901 are prerequisites and the corequisite is ECOS3903,or ECMT3110 plus one of ECMT2120, ECMT3120, ECMT3130, ECMT3160 or ECMT3170.

Unit details and rules

Unit code	ECOS3902
Academic unit	Economics
Credit points	6
Prohibitions ?	None
Prerequisites ?	A minimum of ((65% in ECOS2901) or (75% in ECOS2001)) and ((65% in ECOS2902) or (75% in ECOS2002)) and 65% in (ECOS2903 or MATH2070 or MATH2970)
Corequisites ?	ECMT2150 or ECMT2950 or ECMT2110
Assumed knowledge ?	None
Available to study abroad and exchange students	Yes

Teaching staff

Coordinator	James Graham, james.a.graham@sydney.edu.au

Type	Description	Weight	Due	Length
Final exam (Open book)	Final exam The final exam will cover the material of the whole course.	50%	Formal exam period	2 hours
Outcomes assessed:
Assignment	Take-home assignments n/a	20%	Multiple weeks	Varies - see Canvas for more detail
Outcomes assessed:
In-semester test (Open book)	Mid-semester test The mid-semester exam covers weeks 1-6. Format: 3 analytical questions.	30%	Week 07 Due date: 24 Sep 2021 at 12:00	2 hours
Outcomes assessed:
= Type C final exam ? = Type C in-semester exam ?

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
Mid-semester break	Mid semester break. No lecture.	Lecture (2 hr)
Mid-semester break	Mid semester break. No tutorial.	Tutorial (1 hr)
Week 01	1. Overview; Math review; Introduction to Matlab	Lecture (2 hr)
Week 02	2. One-Period Models of Consumer and Firm Behaviour	Lecture (2 hr)
Week 02	Tutorial 1	Tutorial (1 hr)
Week 03	3. Two-Period Models of Consumer Behaviour	Lecture (2 hr)
Week 03	Tutorial 2	Tutorial (1 hr)
Week 04	4. Overlapping Generations Models	Lecture (2 hr)
Week 04	Tutorial 3	Tutorial (1 hr)
Week 05	5. Real Business Cycle Models (1)	Lecture (2 hr)
Week 05	Tutorial 4	Tutorial (1 hr)
Week 06	6. Real Business Cycle Models (2)	Lecture (2 hr)
Week 06	Tutorial 5	Tutorial (1 hr)
Week 07	Mid-Semester Exam (No Lecture)	Lecture (2 hr)
Week 07	(Exam Week; No Tutorial)	Tutorial (1 hr)
Week 08	7. New Keynesian Models (1)	Lecture (2 hr)
Week 08	Tutorial 6	Tutorial (1 hr)
Week 09	8. New Keynesian Models (2)	Lecture (2 hr)
Week 09	Tutorial 7	Tutorial (1 hr)
Week 10	9. Consumer Theory: the Permanent Income Hypothesis	Lecture (2 hr)
Week 10	Tutorial 8	Tutorial (1 hr)
Week 11	10. Consumer Theory: Constrained Households	Lecture (2 hr)
Week 11	Tutorial 9	Tutorial (1 hr)
Week 12	11. Macroeconomic Models with Household Inequality	Lecture (2 hr)
Week 12	Tutorial 10	Tutorial (1 hr)
Week 13	12. Unemployment and Labour Market Search	Lecture (2 hr)
Week 13	Tutorial 11	Tutorial (1 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

Advanced Macroeconomics (5th Edition) by David Romer, ‎ McGraw-Hill

Various academic articles provided throughout the semester

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. understand the theoretical models that macroeconomists typically use and also form the basis of current macroeconomic research
LO2. understand some of the main techniques used by macroeconomic researchers to create knowledge
LO3. explain and understand the associated empirical implications and policy issues
LO4. evaluate and synthesize the contribution of some recently created knowledge 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
Learning outcomes

Responding to student feedback

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

The unit outline has changed somewhat since this unit was last offered.

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

Disclaimer

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