QUANTITATIVE MACROECONOMIC MODELS

ECO4QMM

2018

Credit points: 15

Subject outline

In this subject students are given a solid understanding of various aspects of macroeconomics. This includes macro modelling and strategic game theoretic methods, with a focus on areas such as monetary and fiscal policies, banking crises, and currency unions. The main learning objective is to provide students with tools to carry out formal analysis of a macroeconomic topic and apply it to the real world economy and policy.

SchoolLa Trobe Business School

Credit points15

Subject Co-ordinatorJan Libich

Available to Study Abroad StudentsNo

Subject year levelYear Level 4 - UG/Hons/1st Yr PG

Exchange StudentsNo

Subject particulars

Subject rules

Prerequisites ECO3EGS

Co-requisitesN/A

Incompatible subjectsN/A

Equivalent subjectsN/A

Special conditionsN/A

Graduate capabilities & intended learning outcomes

01. Research macroeconomic issues, both independently and in groups, and effectively communicate the outcomes.

Activities:
tutorial group discussions, tutorial presentations, video-interviews, problem sets, discussant's report preparation, discussant's report presentation, final exam
Related graduate capabilities and elements:
Literacies and Communication Skills (Writing,Speaking,Quantitative Literacy)
Literacies and Communication Skills (Writing,Speaking,Quantitative Literacy)
Literacies and Communication Skills (Writing,Speaking,Quantitative Literacy)
Inquiry and Analytical Skills (Critical Thinking,Creative Problem-solving,Inquiry/Research)
Inquiry and Analytical Skills (Critical Thinking,Creative Problem-solving,Inquiry/Research)
Inquiry and Analytical Skills (Critical Thinking,Creative Problem-solving,Inquiry/Research)

02. Construct and solve simple macroeconomic models to understand how the central bank interest rate decisions affect individual behaviour and the economy.

Activities:
problem sets, discussant's report preparation, final exam
Related graduate capabilities and elements:
Literacies and Communication Skills (Writing,Speaking,Quantitative Literacy)
Inquiry and Analytical Skills (Critical Thinking,Creative Problem-solving,Inquiry/Research)
Inquiry and Analytical Skills (Critical Thinking,Creative Problem-solving,Inquiry/Research)
Inquiry and Analytical Skills (Critical Thinking,Creative Problem-solving,Inquiry/Research)

03. Apply game theory in analysing macroeconomic problems.

Activities:
tutorial group discussions, tutorial presentations, problem sets, discussant's report preparation, final exam
Related graduate capabilities and elements:
Literacies and Communication Skills (Writing,Speaking,Quantitative Literacy)
Literacies and Communication Skills (Writing,Speaking,Quantitative Literacy)
Literacies and Communication Skills (Writing,Speaking,Quantitative Literacy)
Inquiry and Analytical Skills (Critical Thinking,Creative Problem-solving,Inquiry/Research)
Inquiry and Analytical Skills (Critical Thinking,Creative Problem-solving,Inquiry/Research)

04. Analyse economic data to propose and justify desirable macroeconomic policy actions.

Activities:
problem sets, discussant's report preparation, discussant's report presentation, final exam
Related graduate capabilities and elements:
Literacies and Communication Skills (Writing,Speaking,Quantitative Literacy)
Inquiry and Analytical Skills (Critical Thinking,Creative Problem-solving,Inquiry/Research)
Inquiry and Analytical Skills (Critical Thinking,Creative Problem-solving,Inquiry/Research)

05. Able to summarize and appraise the contribution of a paper relative to the literature.

Activities:
discussant's report preparation, discussant's report presentation
Related graduate capabilities and elements:
Literacies and Communication Skills (Writing,Speaking,Quantitative Literacy)
Literacies and Communication Skills (Writing,Speaking,Quantitative Literacy)
Inquiry and Analytical Skills (Critical Thinking,Creative Problem-solving,Inquiry/Research)

Subject options

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Start date between: and    Key dates

Melbourne, 2018, Semester 1, Day

Overview

Online enrolmentYes

Maximum enrolment sizeN/A

Enrolment information

Subject Instance Co-ordinatorJan Libich

Class requirements

Lecture Week: 10 - 22
One 2.0 hours lecture per week on weekdays during the day from week 10 to week 22 and delivered via face-to-face.

Tutorial Week: 10 - 22
One 1.0 hours tutorial per week on weekdays during the day from week 10 to week 22 and delivered via face-to-face.

Assessments

Assessment elementComments% ILO*
One discussant's report and its presentation20 01, 05
One final exam35 01, 02, 03, 04
Problem sets35 01, 02, 03, 04, 05
Tutorial participation and presentations10 01, 02, 03, 04