ECON 7086 - Advanced Macroeconomics V

North Terrace Campus - Semester 2 - 2014

This course presents an in depth analysis of modern macroeconomic theory. The course provides an advanced overview of the field as well as a rigorous analysis of the field's foundations. Students who do not necessarily intend to specialise in macroeconomics are thereby exposed to the most up to date theories, while those students who plan to pursue higher research in macro-economics are well equipped with the latest techniques and know how. Topics to be discussed include: Rational expectations, Dynamic analysis, Business cycles, Nominal rigidities, Monetary Policy.

  • General Course Information
    Course Details
    Course Code ECON 7086
    Course Advanced Macroeconomics V
    Coordinating Unit Economics
    Term Semester 2
    Level Postgraduate Coursework
    Location/s North Terrace Campus
    Units 3
    Contact Up to 4 hours per week
    Prerequisites ECON 7059 or ECON 7122
    Assessment Typically assignments, mid-semester exam, final exam, presentation & research proposal
    Course Staff

    Course Coordinator: Dr Nicolas Groshenny

    Course Timetable

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

  • Learning Outcomes
    Course Learning Outcomes
    On successful completion of this course students will be able to:

    1 cross the gap between undergraduate textbooks in macroeconomics and the modern literature that features dynamic models built upon microeconomic foundations and rational expectations.
    2 use confidently key methodological tools in modern dynamic macroeconomics.
    3 apply those tools to analyse practical questions such as: What are the long term consequences for a nation of persistently running current accounts deficits? How do government budget deficits affect interest rates, trade balances and exchange rates?
    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)
    Knowledge and understanding of the content and techniques of a chosen discipline at advanced levels that are internationally recognised. 1-3
    The ability to locate, analyse, evaluate and synthesise information from a wide variety of sources in a planned and timely manner. 1-3
    An ability to apply effective, creative and innovative solutions, both independently and cooperatively, to current and future problems. 1-3
    Skills of a high order in interpersonal understanding, teamwork and communication. 1-3
    A proficiency in the appropriate use of contemporary technologies. 1-3
    A commitment to continuous learning and the capacity to maintain intellectual curiosity throughout life. 1-3
    A commitment to the highest standards of professional endeavour and the ability to take a leadership role in the community. 1-3
    An awareness of ethical, social and cultural issues within a global context and their importance in the exercise of professional skills and responsibilities. 1-3
  • Learning Resources
    Recommended Resources
    "Foundations of International Macroeconomics" by Maurice Obstfeld and Kenneth Rogoff, MIT Press, 1996.

    "Advanced Macroeconomics" by David Romer, 4th edition.

    ''Models for Dynamic Macroeconomics" by Fabio Bagliano and Giuseppe Bertola, Oxford University Press, 2004.

  • Learning & Teaching Activities
    Learning & Teaching Modes
    • Lectures
    • Problem sets
    • Students presentations (more information below)
    • Final exam

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

    12 hours per week:
    •   Lectures = 4 hours
    •   Personal study (including solving problem sets, reading papers and preparing class presentations) = 8 hours
    Learning Activities Summary
    The course outline below is tentative and indicative only. It is subject to changes at the sole discretion of the lecturer.

    1. Dynamic Consumption Theory

    2. Dynamic Models of Investment

    3. Intertemporal Trade and the Current Account Balance

    4. Dynamic of Small Open Economies

    5. The Real Exchange Rate and the Terms of Trade

    6. Uncertainty and International Financial Markets

    7. Imperfections in International Capital Markets
  • Assessment

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

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

    Assessment Summary

    1. Problem sets:   30%

    2. Presentation:   30%

    3. Exam:             40%


    Each student will select a paper from a list that I will provide in due course, and will design a class presentation using a maximum of 15 slides.

    The presentation should include the following components:

       1) Statement of the issue/question;

       2) Description of the methodology;

       3) Description of the main results;

       4) Conclusion

    The student will present the material in class and will submit the presentation as part of the requirement. The grading will be based on the slides and on the class presentation.
    Assessment Detail

    No information currently available.


    No information currently available.

    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 ( 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
  • 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.