ECON 7071 - Intermediate Macroeconomics IID
North Terrace Campus - Semester 2 - 2018
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General Course Information
Course Details
Course Code ECON 7071 Course Intermediate Macroeconomics IID Coordinating Unit Economics Term Semester 2 Level Postgraduate Coursework Location/s North Terrace Campus Units 3 Contact Up to 3 hours per week Available for Study Abroad and Exchange Y Assumed Knowledge Introductory level macroeconomics, ECON 1005 or equivalent Restrictions Available to MFin&BusEc, GCertAppEc, GCertIntEc, GDipIntEc, GDipAppEc & MappEc students only Assessment Typically, mid-semester test, take-home test & final exam Course Staff
Course Coordinator: Professor Mark Weder
Semester 1 & 2
Mark Weder
mark.weder@adelaide.edu.au
Room: 4.09, Level 4, Nexus Building, 10 Pulteney Street, Adelaide, 5000
Phone: 8313 4664
Office Hours: To be confirmedCourse Timetable
The full timetable of all activities for this course can be accessed from Course Planner.
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Learning Outcomes
Course Learning Outcomes
Knowledge and Understanding:
This course aims to develop an understanding of those social institutions such as property rights, firms and markets, that are the economic framework within which individuals, responding to incentives, make choices in their own self interest and how these choices can also serve the social interest.
Communication Skills:
This course aims to develop students’ abilities to construct and sustain an argument using the phrases and concepts that economists use in their deliberations. A theoretical framework is developed in which students acquire an understanding of how economic agents interact and by doing so develop the literacy and verbal communication skills necessary for presenting arguments of an economic nature.
On successful completion of this course, students will be able to:
- Relate basic macroeconomic theory and principles to current macroeconomic issues.
- Apply basic macroeconomic theory to analyse macroeconomic policies.
- Construct and present an argument by applying theoretical concepts that economists use in their deliberations.
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
Charles Jones Macroeconomics (4th edition, older versions should be fine)Recommended Resources
Students enrolled in this course may request a paper copy of this course profile from the Professions Student Hub.
Online Learning
All additional material will be posted on the course MyUni website. -
Learning & Teaching Activities
Learning & Teaching Modes
Students will be required to understand material as covered in the course lectures as well as additional assigned readings. Problem sets will reinforce key concepts covered in course lectures.Workload
The information below is provided as a guide to assist students in engaging appropriately with the course requirements.
Students in this course are expected to attend all one-hour lectures throughout the semester plus one tutorial class each week. Students are also expected to commit approximately 8 to 10 hours to private study, that is, study outside of your regular classes.Learning Activities Summary
Teaching & Learning Activities Related Learning Outcomes Lectures 1,2,3 Tutorials 1,2,3
Lecture Schedule
Part I. ECONOMIC GROWTH
1. Economic Growth: Malthus and Solow
2. Income Disparity Among Countries and Endogenous Growth
Part II. A ONE-PERIOD MODEL OF THE MACROECONOMY
3. Consumer and Firm Behavior: The Work—Leisure Decision and Profit Maximization
4. A Closed-Economy One-Period Macroeconomic Model
5. Search and Unemployment
Part III. SAVINGS, INVESTMENT, AND GOVERNMENT DEFICITS
6. A Two-Period Model: The Consumption—Savings Decision and Credit Markets
7. Credit Market Imperfections: Credit Frictions, and Financial Crises
8. A Real Intertemporal Model with Investment
PartT IV. MONEY AND BUSINESS CYCLES
9. Money, Banking, Prices, and Monetary Policy (if time allows)
10. Business Cycle Models with Flexible Prices and Wages
11. New Keynesian Economics: Sticky Prices (if time allows)
** Order of material to be covered in class is tentative and subject to change. -
Assessment
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(Word,Time) Learning Outcomes Individual Assignments Week TBA 20% TBA 1,2,3 Mid-term Exam Week 7 30% TBA 1,2,3 Final Exam Week TBA 50% 2 hours 1,2,3 Total 100% Assessment Detail
The midterm exam will occur in class some time around Week 4 to 7. The exact date will depend on material covered in lectures.
There will not be a make-up mid-semester exam. Those who miss the mid-semester exam must obtain documentation in line with university regulations in order to avoid a grade of zero on the mid-semester exam or assignment. For those who miss the mid-semester exam and obtain accepted documentation the relevant weight will be added to the weight of the final exam in determining the overall grade for the course.
The final exam will be 2 hours in length.
Please note that, following University policy, dictionaries are not allowed in School of Economics exam.Submission
See MyUni for further information on submission details.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.
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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.
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Student Support
- Academic Integrity for Students
- Academic Support with Maths
- Academic Support with writing and study skills
- Careers Services
- International Student Support
- Library Services for Students
- LinkedIn Learning
- Student Life Counselling Support - Personal counselling for issues affecting study
- Students with a Disability - Alternative academic arrangements
- YouX Student Care - Advocacy, confidential counselling, welfare support and advice
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Policies & Guidelines
This section contains links to relevant assessment-related policies and guidelines - all university policies.
- Academic Credit Arrangements Policy
- Academic Integrity Policy
- Academic Progress by Coursework Students Policy
- Assessment for Coursework Programs Policy
- Copyright Compliance Policy
- Coursework Academic Programs Policy
- Elder Conservatorium of Music Noise Management Plan
- Intellectual Property Policy
- IT Acceptable Use and Security Policy
- Modified Arrangements for Coursework Assessment Policy
- Reasonable Adjustments to Learning, Teaching & Assessment for Students with a Disability Policy
- Student Experience of Learning and Teaching Policy
- Student Grievance Resolution Process
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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.
