ETX5443 - Quantitative economic policy
6 points, SCA Band 3, 0.125 EFTSL
Postgraduate Faculty of Business and Economics
Leader(s): Professor John Madden
Clayton Second semester 2009 (Day)
This course surveys contemporary macroeconometric and applied general equilibrium models as they are used for policy analysis. The focus of these models extends from fiscal, monetary and tax policy, through trade, tariffs and industry policy, to the environment and greenhouse gases. In their major written assignment, all students are expected to come to grips with some of the practical issues involved in policy modelling.
The learning goals associated with this unit are to:
- acquire an understanding of the main elements of the theoretical structure of a computable general equilibrium (CGE) model
- acquire an understanding of how a CGE model is calibrated and implemented on computer
- develop the ability to conduct basic simulations with a comparative-static CGE model
- acquire skills in the analysis of the more readily interpretable model results in terms of model theory, data base, closure and shocks
- develop an elementary understanding of the key features of dynamic CGE models.
Within semester assessment: 50%
Examination (3 hours): 50%
Two 1.5-hour lectures per week