Unit Outline

The BEA471 Macroeconomic unit aims: to introduce students to some of the important recent developments in macroeconomics; to demonstrate how macroeconomists use macroeconomic theory, stylized facts and modelling framework to obtain quantitative answers to some very intriguing questions; and to provide students with some standard tools and models required to deal with the modern macroeconomic literature. The unit focuses on development of practical model solving skills, where students will learn how to use a variety of macroeconomic models as a measurement device to assess real world problems. After successful completion of this unit, students will be able to (i) understand the recent trends in macroeconomics, (ii) access the recent academic literature in macroeconomics and (iii) discuss the implications of macroeconomic policy.

Intended Learning Outcomes

As per the Assessment and Results Policy 1.3, your results will reflect your achievement against specified learning outcomes.

On completion of this unit, you will be able to:


1	Apply macroeconomic theory to understand and analyse the real world macroeconomic issues.
2	Solve and analyse the quantitative performance of several business cycle models.
3	Communicate the modelling approach, solution technique and research findings.

Alterations as a result of student feedback

To be determined.

How will I be Assessed?

For more detailed assessment information please see MyLO.

Assessment schedule


ASSESSMENT TASK #	ASSESSMENT TASK NAME	DATE DUE	WEIGHT	LINKS TO INTENDED LEARNING OUTCOMES
Assessment Task 1:	Assignment 1	Week 6	35 %	LO1, LO2, LO3
Assessment Task 2:	Assignment 2: Mid-semester Test	Week 9	30 %	LO1, LO2, LO3
Assessment Task 3:	Assignment 2	Week 14	35 %	LO1, LO2, LO3

Assessment details

Assessment Task 1: Assignment 1

Task Description:

This is a report with a critical thinking assessment which includes manipulating economic models, examining media reports on current economic conditions and discussing selected economic data. The examinable material consists of topics covered in weeks 1-4.

Task Length:

Between 5-10 pages. Detailed guidelines and instructions will be distributed in lectures and posted on MyLO. You will be given one week to solve the problems.

Due Date:

Week 6

Weight:

35 %

CRITERION #

CRITERION

MEASURES INTENDED

LEARNING OUTCOME(S)


1	Construct, describe and manipulate macroeconomic models.	LO1
2	Apply the concepts in macroeconomics to analyse the behaviour of agents in the economy and their impact on the economy and environment.	LO1
3	Demonstration of good judgement in what to include and what to leave out in your exposition.	LO1
4	Evaluate the role of the model’s elements in propagation of shocks.	LO2
5	Describe the numerical approach to solving the model.	LO2
6	Interpret the empirical results clearly and precisely.	LO3
7	Report on and defend the presented argument in a well written form.	LO3
8	Describe your graphical analysis clearly and precisely.	LO3

Assessment Task 2: Assignment 2: Mid-semester Test

Task Description:

The in-workshop test is based on the material covered in weeks 1-7. It is a take-home test and consists of four questions each of which will contain multi part short answer questions.

Task Length:

2 hours

Due Date:

Week 9

Weight:

30 %

CRITERION #

CRITERION

MEASURES INTENDED

LEARNING OUTCOME(S)


1	Construct, describe and manipulate macroeconomic models.	LO1
2	Apply the concepts in macroeconomics to analyse the behaviour of agents in the economy.	LO1
3	Demonstration of good judgement in what to include and what to leave out in your exposition.	LO1
4	Evaluate the role of the model’s elements in propagation of economic, environmental and financial shocks.	LO2
5	Describe the numerical approach to solving the model.	LO1
6	Describe your derivations and results clearly and precisely.	LO3
7	Interpret the empirical results clearly and precisely.	LO3

Assessment Task 3: Assignment 2

Task Description:

You are required to write a report by applying the economic way of thinking and the theories/approaches of macroeconomics to discuss and analyse an issue/debate related to SDGs in macroeconomic policies and institutions. The examinable material consists of topics covered in weeks 1-13, focusing on weeks 7-13.

Task Length:

Between 12 to 15 pages.

Due Date:

Week 14

Weight:

35 %

CRITERION #

CRITERION

MEASURES INTENDED

LEARNING OUTCOME(S)


1	Construct, describe and manipulate macroeconomic models.	LO1
2	Apply the concepts in macroeconomics to analyse the behaviour of agents in the economy	LO1
3	Demonstration of good judgement in what to include and what to leave out in your exposition.	LO1
4	Evaluate the role of the model’s elements in propagation of shocks.	LO2
5	Apply macroeconomic reasoning to inform policy debates.	LO2
6	Interpret the empirical results clearly and precisely	LO3
7	Produce well-documented reports discussing the macroeconomic policy implications.	LO3

How your final result is determined

To pass this unit, you need to demonstrate your attainment of each of the Intended Learning Outcomes, achieve a final unit grade of 50% or greater, and pass any hurdle tasks.

Submission of assignments

Where practicable, assignments should be submitted to an assignment submission folder in MYLO. You must submit assignments by the due date or receive a penalty (unless an extension of time has been approved by the Unit Coordinator). Students submitting any assignment in hard copy, or because of a practicum finalisation, must attach a student cover sheet and signed declaration for the submission to be accepted for marking.

Academic integrity

Academic integrity is about acting responsibly, honestly, ethically, and collegially when using, producing, and communicating information with other students and staff members.

In written work, you must correctly reference the work of others to maintain academic integrity. To find out the referencing style for this unit, see the assessment information in the MyLO site, or contact your teaching staff. For more detail about Academic Integrity, see Important Guidelines & Support.

Requests for extensions

If you are unable to submit an assessment task by the due date, you should apply for an extension.

A request for an extension should first be discussed with your Unit Coordinator or teaching support team where possible. A request for an extension must be submitted by the assessment due date, except where you can provide evidence it was not possible to do so. Typically, an application for an extension will be supported by documentary evidence: however, where it is not possible for you to provide evidence please contact your Unit Coordinator.

The Unit Coordinator must notify you of the outcome of an extension request within 3 working days of receiving the request.

Late penalties

Assignments submitted after the deadline will receive a late penalty of 5% of the original available mark for each calendar day (or part day) that the assignment is late. Late submissions will not be accepted more than 10 calendar days after the due date, or after assignments have been returned to other students on a scheduled date, whichever occurs first. Further information on Late Penalties can be found on the Assessments and Results Procedure.

Review of results and appeals

You are entitled to ask for a review of the marking and grading of your assessment task if there is an irregularity in the marking standards or an error in the process for determining the outcome of an assessment. Details on how to request a review of a mark for an assignment are outlined in the Review and Appeal of Academic Decisions Procedure.

Required Resources

Required reading materials

Carlin and Soskice, 2015, Macroeconomics: Institutions, Instability, and the Financial System, Oxford University Press (ISBN: 978-0-19-965579-3)