ECON 7071 - Intermediate Macroeconomics IID
North Terrace Campus - Semester 2 - 2022
General Course Information
Course Code ECON 7071 Course Intermediate Macroeconomics IID Coordinating Unit School of 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 Incompatible ECON 2507 Assumed Knowledge ECON 1005 and ECON 1012 or equivalents Restrictions Available to MFin&BusEc, GCertAppEc, GDipAppEc & MAppEc students only Course Description Macroeconomics is concerned with the behaviour of the economy as a whole. In particular it addresses the big issues which affect us on a day to day basis. As macroeconomists we want to know why some countries grow more quickly than others, why some experience high rates of unemployment and why all countries experience recessions and booms. Furthermore, we want to know if government policy can have an impact on these factors. The aim of this course is to provide these tools that allow for and give a deeper understanding of these issues.
Course Coordinator: Ms Ayasha AkterOffice hours: Wednesdays 11am - 12pm
Office Hour Info: Wednesdays 11AM - 12PM
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The full timetable of all activities for this course can be accessed from Course Planner.
Course Learning OutcomesOn successful completion of this course, students will be able to:
1. Relate basic macroeconomic theory and principles to current macroeconomic issues.
2. Apply basic macroeconomic theory to analyse macroeconomic policies.
3. Understand the use and some limitations of economic models used by economists.
4. 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)
Attribute 1: Deep discipline knowledge and intellectual breadth
Graduates have comprehensive knowledge and understanding of their subject area, the ability to engage with different traditions of thought, and the ability to apply their knowledge in practice including in multi-disciplinary or multi-professional contexts.
Attribute 2: Creative and critical thinking, and problem solving
Graduates are effective problems-solvers, able to apply critical, creative and evidence-based thinking to conceive innovative responses to future challenges.
Attribute 3: Teamwork and communication skills
Graduates convey ideas and information effectively to a range of audiences for a variety of purposes and contribute in a positive and collaborative manner to achieving common goals.
Attribute 4: Professionalism and leadership readiness
Graduates engage in professional behaviour and have the potential to be entrepreneurial and take leadership roles in their chosen occupations or careers and communities.
Required ResourcesMacroeconomics by N. Gregory Makiw (current ed. is 11 although ed. 10 is acceptable).
Blanchard & Sheen - Macroeconomics, Australasian Edition (Pearson). 4th edition
Online LearningAll additional material will be posted on the course MyUni website.
Learning & Teaching Activities
Learning & Teaching ModesReading Material:
Required reading will be posted on MyUni to detail the concepts that are complemented by the lecture videos. You are expected to have read and understood the material BEFORE attending tutorials so that time can allocated most efficiently when exploring the concepts.
Lectures videos will work alongside the required reding to provide you with the necessary understanding of the material needed to solve the exercises you will be given for assignments or exams. Examples will be used to illustrate the concepts presented in this course.
Tutorials will cover additional exercises which address similar problems as discussed in lectures. It will clarify the expectations set for exams and assignments.
These problem sets will reinforce key concepts covered in course lectures, and will give a good indication of how the mid-term and the final exam are constructed.
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
Part 1 — The Short Run
1) Constructing a Simple Model of Aggregate Supply
1a) Wages, Employment, Inflation and Income
2) Constructing a Simple Model of Aggregate Demand
2a) Interest Rates, Inflation and Income
3) Putting Supply and Demand Together
Part 2 - The Long Run
1) An Overview of Long-Run Economic Growth
2) A Model of Production
3) The Solow Growth Model
Part 3 — Dynamics and Expectations
** Order of material to be covered in class is tentative and subject to change.
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 Task Due Date/ Week Weight Length(Word,Time) Learning Outcomes Assignments/Tutorial Quizzes Sunday 11:59 pm, Weekly 20% 1,2,3 Midterm Exam Week 7 30% 1 hour 1,2,3
Week 11 10% 3 Final Exam Exam period 40% 2 hours 1,2,3 Total 100%
Assessment DetailTo gain a pass, a total of at least 50% overall must be obtained.
There will likely be two written assignments. Written assignment submissions should not exceed one page in length with remaining details to be announced on the course MyUni site.
Those who fail to submit a written assessment by the due date must obtain documentation that satisfies university regulations in order to avoid a grade of zero on the assignment. An alternative assessment/reweighting will only be offered to those who obtain accepted documentation.
The final exam is expected to be two or three hours in duration.
Each student will be asked to submit four tutorial assignments over the duration of the semester. Students will be required to submit their assignments at their weekly tutorial and will find out during each weekly tutorial whether they are to hand in an assignment during that particular tutorial. Each student's best three submitted tutorial assignment will count towards their final grade with equal weighting across submitted assignments. A make-up opportunity to submit a tutorial assignment will only be offered to those who obtain accepted documentation.
Please note that dictionaries are not allowed in School of Economics and Public Policy exams.
Legible hand-writing and the quality of English expression are considered to be integral parts of the assessment process, and may affect marks. Marks cannot be awarded for answers that cannot be read or understood.
See MyUni for further information on assessment details.
SubmissionSee MyUni for further information on submission details.
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.
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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