eco3egs macroeconomics 3
ECONOMIC GROWTH AND STABILITY: THEORY AND EVIDENCE
ECO3EGS
2015
Credit points: 15
Subject outline
In this subject you will learn to move away from "thinking" about macroeconomics to "doing" it. This has four parts: moving from observed economic phenomena to theories, drawing on stylised facts based on real macroeconomic data; building an economic model, considering carefully the consequences of making different assumptions; parameterising and validating the model in a way that is most likely to yield high-quality policy simulations; and simulating a policy shift using the model. Over the semester, you will build a small-scale macroeconomic model of a country of your choice, using the free R computing language. You will also examine how consumers in aggregate decide how much to consume, and what implications this has for our model of the economy.
SchoolLa Trobe Business School
Credit points15
Subject Co-ordinatorDarren Henry
Available to Study Abroad StudentsYes
Subject year levelYear Level 3 - UG
Exchange StudentsYes
Subject particulars
Subject rules
Prerequisites ECO2MFG or ECO2MAT or ECO2PPB
Co-requisitesN/A
Incompatible subjectsN/A
Equivalent subjectsN/A
Special conditionsN/A
Learning resources
Readings
| Resource Type | Title | Resource Requirement | Author and Year | Publisher |
|---|---|---|---|---|
| Readings | TBA | Prescribed | TBA | TBA |
Graduate capabilities & intended learning outcomes
01. Explain the key determinants of long-run economic growth, including technology, social institutions, infrastructure, and education.
- Activities:
- Lectures, tutorials, reading, class discussion
- Related graduate capabilities and elements:
- Writing(Writing)
- Inquiry/ Research(Inquiry/ Research)
02. Discern between the quality of competing macroeconomic models, by examining the assumptions underpinning the model and the quality of parameterisation.
- Activities:
- Lectures, tutorials, reading, class discussion
- Related graduate capabilities and elements:
- Writing(Writing)
- Critical Thinking(Critical Thinking)
03. Predict the impact of fiscal and monetary policy shifts, under various assumptions about technological progress, consumption behaviour, and randomness.
- Activities:
- Lectures, tutorials, reading, class discussion
- Related graduate capabilities and elements:
- Writing(Writing)
- Inquiry/ Research(Inquiry/ Research)
- Critical Thinking(Critical Thinking)
- Creative Problem-solving(Creative Problem-solving)
04. Demonstrate the ability to source, clean and model real macroeconomic data.
- Activities:
- Lectures, tutorials, reading, class discussion
- Related graduate capabilities and elements:
- Inquiry/ Research(Inquiry/ Research)
- Critical Thinking(Critical Thinking)
- Creative Problem-solving(Creative Problem-solving)
Subject options
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Melbourne, 2015, Semester 2, Day
Overview
Online enrolmentYes
Maximum enrolment sizeN/A
Enrolment information
Subject Instance Co-ordinatorDarren Henry
Class requirements
LectureWeek: 31 - 43
One 2.0 hours lecture per week on weekdays during the day from week 31 to week 43 and delivered via face-to-face.
TutorialWeek: 31 - 43
One 1.0 hours tutorial per week on weekdays during the day from week 31 to week 43 and delivered via face-to-face.
Assessments
| Assessment element | Comments | % | ILO* |
|---|---|---|---|
| Tutorial participation | 10 | 01, 02, 03, 04 | |
| Five 100-word per-student equivalent group-based problem sets / blog posts | 30 | 01, 02, 03, 04 | |
| Final examination | Equivalent to 2000 words | 40 | 01, 02, 03 |
| Two 1,000-word short (essay-based) individual assignments | 20 | 01, 02, 03, 04 |