ECON 3514 - Macroeconomics III

North Terrace Campus - Semester 2 - 2014

This subject presents an introduction to the advanced treatment of economic theory covered in ECON 2507 Intermediate Macroeconomics II. Topics covered may include general equilibrium, open economy models, advanced analysis of the role of wealth, expectations, and monetary and fiscal policy.

  • General Course Information
    Course Details
    Course Code ECON 3514
    Course Macroeconomics III
    Coordinating Unit Economics
    Term Semester 2
    Level Undergraduate
    Location/s North Terrace Campus
    Units 3
    Contact Up to 3 hours per week
    Prerequisites Credit in ECON 2507
    Incompatible ECON 3034
    Assumed Knowledge ECON 2506
    Assessment Typically mid-semester test & final exam
    Course Staff

    Course Coordinator: Professor Mark Weder

    Course Timetable

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

    Each week there will be two hours of lectures and each student is to attend one one-hour tutorial per week. Tutorials will commence in Week 2.
  • Learning Outcomes
    Course Learning Outcomes

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

    1 Know the basic concepts of macroeconomic theory and its microfoundations
    2 Understand the theories and empirics of economic growth and economic fluctuations
    3 Know and be able to analyse NKM and RBC models
    4 Be able to apply macroeconomic models to real world situations


    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, 2
    An ability to apply effective, creative and innovative solutions, both independently and cooperatively, to current and future problems. 1, 2, 3, 4
    A commitment to continuous learning and the capacity to maintain intellectual curiosity throughout life. 3, 4
  • Learning Resources
    Recommended Resources

    Students enrolled in this course may request a paper copy of this course outline from the Professions Student Hub.
    Online Learning
    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.

    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

    Understanding Short-Run Economic Fluctuations as well as Economic Growth 

    1. IS-LM and the Classical models (and math review)

    2. Consumption, leisure and saving decisions

    3. Labour markets 

    4. General equilibrium and welfare

    5. Real Business Cycle models 

    6. New Keynesian models

    7. Expectations, sentiments and animal spirits

    8. Credit markets
    9. Long-run growth

    10. Fiscal and monetary policy issues
  • 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
    There will be two midterm exams (during week 4 and 8 resp) and a final exam. The midterm examinations count 60 towards the end grade. The final counts 40 percent.

    There will not be any make-up mid-semester tests. Those who miss the mid-semester test(s) must obtain documentation in line with university regulations in order to avoid a grade of zero on the mid-semester tests or assignments. For those who miss the mid-semester test(s) 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.

    Assessment Detail

    See MyUni for further information on assessment details.

    See MyUni for further details on submission.
    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.