ECON 7100 - International Finance IV

North Terrace Campus - Semester 1 - 2019

This course introduces students to the core tools and themes of open-economy business-cycle theory. The objectives of the course are to enable students to: i) critically evaluate the relevant models and empirical works in open-economy macroeconomics, and ii) apply these analytical tools themselves to investigate topical issues in international macroeconomics.

Open All

Course Details

Course Code	ECON 7100
Course	International Finance IV
Coordinating Unit	Economics
Term	Semester 1
Level	Postgraduate Coursework
Location/s	North Terrace Campus
Units	3
Contact	Up to 4 hours per week
Available for Study Abroad and Exchange	Y
Incompatible	ECON 4016
Assumed Knowledge	ECON 7044
Restrictions	Available to MAppEc, MAdvEc & MHealthEcPol students only
Assessment	Typically, bi-weekly assignments, seminar presentation, mid-term test (or term research paper), and final exam

Course Staff

Course Coordinator: Dr Nicolas Groshenny

Course Timetable

The full timetable of all activities for this course can be accessed from Course Planner.

Course Learning Outcomes

On successful completion of this course, students will be able to:

Compute, describe and interpret business-cycle stylized facts around the world.
Build and solve analytically simple theoretical equilibrium models of the current account.
Build and solve numerically more complex Dynamic Stochastic General Equilibrium (DSGE) models of Small-Open Economies.
Specify, estimate and identify empirical time series models (Structural Vector Auto-Regressions).
Use the SVAR models as an empirical benchmark to evaluate theoretical (DSGE) models.
Apply DSGE and SVAR models to a range of topical and policy relevant issues in open economy macroeconomics.

University Graduate Attributes

This course will provide students with an opportunity to develop the Graduate Attribute(s) specified below:

University Graduate Attribute	Course Learning Outcome(s)
Deep discipline knowledge informed and infused by cutting edge research, scaffolded throughout their program of studies acquired from personal interaction with research active educators, from year 1 accredited or validated against national or international standards (for relevant programs)	1-3
Critical thinking and problem solving steeped in research methods and rigor based on empirical evidence and the scientific approach to knowledge development demonstrated through appropriate and relevant assessment	1-3
Teamwork and communication skills developed from, with, and via the SGDE honed through assessment and practice throughout the program of studies encouraged and valued in all aspects of learning	1-3
Career and leadership readiness technology savvy professional and, where relevant, fully accredited forward thinking and well informed tested and validated by work based experiences	1-3
Intercultural and ethical competency adept at operating in other cultures comfortable with different nationalities and social contexts able to determine and contribute to desirable social outcomes demonstrated by study abroad or with an understanding of indigenous knowledges	1-3
Self-awareness and emotional intelligence a capacity for self-reflection and a willingness to engage in self-appraisal open to objective and constructive feedback from supervisors and peers able to negotiate difficult social situations, defuse conflict and engage positively in purposeful debate	1-3

Learning Resources

Required Resources

Open Economy Macroeconomics, by Uribe and Schmitt-Grohe, 2017, Princeton University Press.

Recommended Resources

The following texts are useful for reference purposes:

- Foundations of International Macroeconomics, by Obstfeld and Rogoff, 1996, MIT Press.

- Open Economy Macroeconomics, by Carlos Vegh, 2013, MIT Press.

Online Learning

This course makes use of MyUni and you are required to check the website regularly.

https://myuni.adelaide.edu.au/webapps/login/
Learning & Teaching Activities

Learning & Teaching Modes

The course includes assignments, tutorial discussions and presentations. Students are required to read journal articles and make presentations on the key methodology and results.

Workload

The information below is provided as a guide to assist students in engaging appropriately with the course requirements.

The University expects full-time students (i.e. those taking 12 units per semester) to devote a total of 48 hours per week to their studies. This translates to 12 hours per week for a semester course.

Students will be actively engaged to discuss key issues and analytical frameworks of key economic models in international finance. They are required to read key papers and journal articles and present at tutorials. Students are also required to solve models and relate the results to key issues.

Learning Activities Summary

Students will be introduced to key concepts and models of international finance. The students will also developed the necessary analytical skills for model applications and policy discussions.

Further details will be provided at the beginning of the course.

Teaching & Learning Activities Related Learning Outcomes

Lectures (weekly, 2 hours) 1-6

Seminars (weekly, 2 hours) 1-6

Specific Course Requirements

None.

The University's policy on Assessment for Coursework Programs is based on the following four principles:

Assessment must encourage and reinforce learning.
Assessment must enable robust and fair judgements about student performance.
Assessment practices must be fair and equitable to students and give them the opportunity to demonstrate what they have learned.
Assessment must maintain academic standards.

Assessment Summary

Assessment Task	Due Date/ Week	Weight	Length	Learning Outcomes
4 or 5 take-home group assignments	Every week (starting from week 2)	30%	take-home every week	1-6
Seminar presentation and discussion	Every week (starting from week 2)	30%	30 min per week during seminar	1-6

Final Research Project	Week 14	40%	take-home for about two weeks	1-6
Total		100%

Assessment Related Requirements

Students are required to achieve a mark of at least 50% overall to pass the course.

Assessment Detail

Students are required to read journal articles, discuss key issues on international finance and present the key results during tutorials.

Students need to demonstrate the ability to understand and articulate key economic issues related to international finance. Students are required to solve analytical and empirical models with reference to real issues.

Submission

Submission of assignments will be as outlined in the instructions provided on MyUni at the beginning of the course.

Course Grading

Grades for your performance in this course will be awarded in accordance with the following scheme:

M10 (Coursework Mark Scheme)
Grade	Mark	Description
FNS		Fail No Submission
F	1-49	Fail
P	50-64	Pass
C	65-74	Credit
D	75-84	Distinction
HD	85-100	High Distinction
CN		Continuing
NFE		No Formal Examination
RP		Result Pending

Further details of the grades/results can be obtained from Examinations.

Grade Descriptors are available which provide a general guide to the standard of work that is expected at each grade level. More information at Assessment for Coursework Programs.

Final results for this course will be made available through Access Adelaide.

Student Feedback

The University places a high priority on approaches to learning and teaching that enhance the student experience. Feedback is sought from students in a variety of ways including on-going engagement with staff, the use of online discussion boards and the use of Student Experience of Learning and Teaching (SELT) surveys as well as GOS surveys and Program reviews.

SELTs are an important source of information to inform individual teaching practice, decisions about teaching duties, and course and program curriculum design. They enable the University to assess how effectively its learning environments and teaching practices facilitate student engagement and learning outcomes. Under the current SELT Policy (http://www.adelaide.edu.au/policies/101/) course SELTs are mandated and must be conducted at the conclusion of each term/semester/trimester for every course offering. Feedback on issues raised through course SELT surveys is made available to enrolled students through various resources (e.g. MyUni). In addition aggregated course SELT data is available.
Student Support
Policies & Guidelines
This section contains links to relevant assessment-related policies and guidelines - all university policies.
Fraud Awareness

Students are reminded that in order to maintain the academic integrity of all programs and courses, the university has a zero-tolerance approach to students offering money or significant value goods or services to any staff member who is involved in their teaching or assessment. Students offering lecturers or tutors or professional staff anything more than a small token of appreciation is totally unacceptable, in any circumstances. Staff members are obliged to report all such incidents to their supervisor/manager, who will refer them for action under the university's student’s disciplinary procedures.

The University of Adelaide is committed to regular reviews of the courses and programs it offers to students. The University of Adelaide therefore reserves the right to discontinue or vary programs and courses without notice. Please read the important information contained in the disclaimer.

Authorised by:	Deputy Vice-Chancellor and Vice-President (Academic)
Maintained by:	Course Outlines Administrator