units

ECC5660

Faculty of Business and Economics

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Monash University Handbook 2010 Postgraduate - Unit

6 points, SCA Band 3, 0.125 EFTSL

LevelPostgraduate
FacultyFaculty of Business and Economics
OfferedClayton First semester 2010 (Day)
Coordinator(s)Professor Jakob Madsen; Dr Siew-Ling Yew

Synopsis

Underpinnings of modern macroeconomics basic to models of growth and cyclical fluctuations as well as models of monetary and fiscal policies. Topics include neoclassical and endogenous growth theories; overlapping generations models with and without money; policy ineffectiveness issues; equilibrium business cycle as well as traditional Keynesian models of fluctuations; and models of incomplete nominal adjustment such as those of New-Keynesian and the Lucas-Supply variety.

Objectives

The learning goals associated with this unit are to:

  • understand the basic theoretical structures common to modern dynamic macroeconomics. In particular, critical analysis of the economic reasons underlying the formation of policy and movements of various macro-aggregates
  • understand the key determinants affecting economic growth and fluctuations
  • enhance understanding of the basic theoretical approaches employed in specialist fields such as international economics, economic development/growth, applied general equilibrium and financial economics.

Assessment

Within semester assessment: 60%
Examination (2 hours): 40%

Chief examiner(s)

Jakob Madsen

Contact hours

3 hours per week

Co-requisites

Students must be enrolled in course code 3194 to undertake this unit