Course coordinator
Dr Ross Guest
Course overview
- Study period
- Semester 2, 2024 (22/07/2024 - 18/11/2024)
- Study level
- Undergraduate
- Location
- St Lucia
- Attendance mode
- In Person
- Units
- 2
- Administrative campus
- St Lucia
- Coordinating unit
- Economics School
Principles of Keynesian and classical macroeconomics. Theories of consumption, investment, inflation.
This course covers topics in modern Macroeconomicsﾠat the advanced level and builds on the materials covered in ECON2040 (Macroeconomic Policy).ﾠ ﾠ ﾠ
Course requirements
Assumed background
It is assumed that students have completed ﾠECON2040 (Macroeconomic Policy). Students should be aware that the trend in macroeconomics is towards understanding aggregate economic activity through examination of models with well-defined, consistent ‘foundations’ at the microeconomic level. Thus, students should be familiar with intermediate concepts from microeconomics. Students should also be aware that algebra and calculus (constrained optimisation, in particular) will be used extensively in this course.
Prerequisites
You'll need to complete the following courses before enrolling in this one:
ECON1050 + 2040
Recommended prerequisites
We recommend completing the following courses before enrolling in this one:
ECON2050
Course contact
School enquiries
Student Enquiries, School of Economics
All enquiries regarding student and academic administration (i.e. non-course content information, e.g., class allocation, timetables, extension to assessment due date, etc.) should be directed to enquiries@economics.uq.edu.au.
Enquiries relating specifically to course content should be directed to the Course Coordinator/Lecturer.
Course staff
Timetable
The timetable for this course is available on the UQ Public Timetable.
Additional timetable information
Tutorial Preferencing: Please refer to My Timetable (available via your my.UQ dashboard) for more information on the tutorial preferencing and allocation process.ﾠ
Tutorials Commence in Teaching Week 2.ﾠMore information on tutorials can be found on the course BB site.
The timetable is published through the UQ Public Timetable found in the APPs section of myUQ. Students should refer to the timetable prior to the commencement of classes to ensure that they have the most up to date information, as from time to time late room changes may occur.ﾠ
Public Holidays: Wed 14 August (Royal Queensland Show), Mon 7 October (King's Birthday).
In-Semester Break: 23 - 29 September. Semester 2 classes recommence Mon 30 September.
Aims and outcomes
The aim of this course is to study key issues in macroeconomics at the advanced level. In the first half of the course, we concentrate on modern economic growth. In the second half, we study macro models to analyseﾠ business cycle fluctuations and stabililisation policies. The course aims to build a tight link between the models presented and real-world data.
Learning outcomes
After successfully completing this course you should be able to:
LO1.
Model dynamic macroeconomic phenomena using modern analytical tools.
LO2.
Rigorously analyse a number of salient macroeconomic issues, both in the long-run and in the short-run.
LO3.
Evaluate the proper role of the government in the face of macroeconomic challenges.
LO4.
Analyse macroeconomic data from Australia and the rest of the world.
LO5.
Assess the link between macroeconomic analysis and real-world policymaking.
Assessment
Assessment summary
| Category | Assessment task | Weight | Due date |
|---|---|---|---|
| Examination |
In-Semester Exam
|
30% |
5/09/2024 10:00 am
During lecture time |
| Tutorial/ Problem Set | Assignment | 30% |
14/10/2024 4:00 pm |
| Examination |
Final Exam
|
40% |
End of Semester Exam Period 2/11/2024 - 16/11/2024 |
Assessment details
In-Semester Exam
- In-person
- Mode
- Written
- Category
- Examination
- Weight
- 30%
- Due date
5/09/2024 10:00 am
During lecture time
- Learning outcomes
- L01, L02, L03, L04, L05
Task description
This will be a 90 minute in-person, open book, invigilated in-semester exam, plus an additional 10 minutes reading time.
The in-semester exam will cover all topics between lectures 1 and 5 (inclusive) and will consist of short answer and problem solving questions.
This assessment task evaluates students' abilities, skills and knowledge without the aid of generative Artificial Intelligence (AI). Students are advised that the use of AI technologies to develop responses is strictly prohibited and may constitute student misconduct under the Student Code of Conduct.
Exam details
| Planning time | 10 minutes |
|---|---|
| Duration | 90 minutes |
| Calculator options | Any calculator permitted |
| Open/closed book | Open Book examination |
| Exam platform | Paper based |
| Invigilation | Invigilated in person |
Submission guidelines
Deferral or extension
You may be able to defer this exam.
Assignment
- Mode
- Written
- Category
- Tutorial/ Problem Set
- Weight
- 30%
- Due date
14/10/2024 4:00 pm
- Learning outcomes
- L01, L02, L03, L04, L05
Task description
The assignment consists of various questions that assess the understanding and the ability to apply the concepts and models studied in class. Collection, presentation and interpretation of macroeconomic data may be required.
The assignment will cover topics from Lectures 6 to 9 inclusive and will consist of short answer and problem-solving questions.
This assessment task evaluates students' abilities, skills and knowledge without the aid of generative Artificial Intelligence (AI). Students are advised that the use of AI technologies to develop responses is strictly prohibited and may constitute student misconduct under the Student Code of Conduct.
Submission guidelines
Submission using Turnitin via the course Blackboard site.
Deferral or extension
You may be able to apply for an extension.
The maximum extension allowed is 14 days. Extensions are given in multiples of 24 hours.
Extensions are limited to 14 days to ensure timely feedback to other students.
Late submission
A penalty of 10% of the maximum possible mark will be deducted per 24 hours from time submission is due for up to 7 days. After 7 days, you will receive a mark of 0.
Final Exam
- In-person
- Mode
- Written
- Category
- Examination
- Weight
- 40%
- Due date
End of Semester Exam Period
2/11/2024 - 16/11/2024
- Learning outcomes
- L01, L02, L03, L04, L05
Task description
This will be a 120 minute final exam, plus additional 10 minutes reading time.
The final exam will cover topics between lectures 7 and 11 inclusive and will consist of short answer and problem solving questions. Students will be required to answer any 5 of the 6 questions on the exam paper. Each question will be worth 8 marks, for a total of 40 marks.
This assessment task is to be completed in-person. The use of generative Artificial Intelligence (AI) tools will not be permitted. Any attempted use of Generative AI may constitute student misconduct under the Student Code of Conduct.
Exam details
| Planning time | 10 minutes |
|---|---|
| Duration | 120 minutes |
| Calculator options | Any calculator permitted |
| Open/closed book | Closed Book examination - no written materials permitted |
| Exam platform | Paper based |
| Invigilation | Invigilated in person |
Submission guidelines
Deferral or extension
You may be able to defer this exam.
Course grading
Full criteria for each grade is available in the Assessment Procedure.
| Grade | Cut off Percent | Description |
|---|---|---|
| 1 (Low Fail) | 0% - 29% |
Absence of evidence of achievement of course learning outcomes. |
| 2 (Fail) | 30% - 46% |
Minimal evidence of achievement of course learning outcomes. |
| 3 (Marginal Fail) | 47% - 49% |
Demonstrated evidence of developing achievement of course learning outcomes |
| 4 (Pass) | 50% - 64% |
Demonstrated evidence of functional achievement of course learning outcomes. |
| 5 (Credit) | 65% - 74% |
Demonstrated evidence of proficient achievement of course learning outcomes. |
| 6 (Distinction) | 75% - 84% |
Demonstrated evidence of advanced achievement of course learning outcomes. |
| 7 (High Distinction) | 85% - 100% |
Demonstrated evidence of exceptional achievement of course learning outcomes. |
Additional course grading information
A student’s final overall end of semester percentage mark will be rounded to determine their final grade. For example, 64.5% rounds to 65%, while 64.4% rounds to 64%.
Supplementary assessment
Supplementary assessment is available for this course.
Additional assessment information
Plagiarism
The School of Economics is committed to reducing the incidence of plagiarism. Further information on plagiarism and how to avoid an allegation of plagiarism is available in this course profile under Policies & Guidelines. Please refer to the link to the Academic Integrity Module (AIM). It is strongly recommended that you complete the AIMﾠif you have not already done so.
Learning resources
You'll need the following resources to successfully complete the course. We've indicated below if you need a personal copy of the reading materials or your own item.
Library resources
Find the required and recommended resources for this course on the UQ Library website.
Learning activities
The learning activities for this course are outlined below. Learn more about the learning outcomes that apply to this course.
Filter activity type by
Please select
| Learning period | Activity type | Topic |
|---|---|---|
Week 1 (22 Jul - 28 Jul) |
Lecture |
L1 Introduction to the long run. Basic Solow model. Reference: Required text (i.e. GLS), Chs 4, 5 Learning outcomes: L01, L02, L04 |
Week 2 (29 Jul - 04 Aug) |
Lecture |
L2 Augmented Solow model Reference: GLS, Ch. 6 Learning outcomes: L01, L02, L03, L04 |
Tutorial |
T1 Tutorial on L1. Questions uploaded in BB. Learning outcomes: L01, L02, L04 |
|
Week 3 (05 Aug - 11 Aug) |
Lecture |
L3 Overlapping Generations - Part 1 Reference: GLS, Ch.8 Learning outcomes: L01, L02, L03, L04 |
Tutorial |
T2 Tutorial on L2. Questions uploaded in BB. Learning outcomes: L01, L02, L03, L04 |
|
Week 4 (12 Aug - 18 Aug) |
Lecture |
L4 Overlapping Generations - Part 2 Reference: GLS, Ch.8 Learning outcomes: L01, L02, L03, L04 |
Tutorial |
T3 Tutorial on L3. Questions uploaded in BB. Learning outcomes: L01, L02, L03, L04, L05 |
|
Week 5 (19 Aug - 25 Aug) |
Lecture |
L5 Endogenous Growth Reference: Lecture notes. Learning outcomes: L01, L02, L03, L04, L05 |
Tutorial |
T4 Tutorial on L4. Questions uploaded in BB. Learning outcomes: L01, L02, L03, L04, L05 |
|
Week 6 (26 Aug - 01 Sep) |
Lecture |
L6 Cross Country Income Differences and Convergence Reference: GLS, Ch.7 Learning outcomes: L01, L02, L03, L04, L05 |
Tutorial |
T5 Tutorial on L5. Questions uploaded in BB. Learning outcomes: L01, L02, L03, L04, L05 |
|
Week 7 (02 Sep - 08 Sep) |
Lecture |
In-semester exam This will be a 90 minute in-person, open book, invigilated in-semester exam, plus an additional 10 minutes reading time. The in-semester exam will cover all topics between lectures 1 and 5 (inclusive) and will consist of short answer and problem solving questions. Learning outcomes: L01, L02, L03, L04, L05 |
Tutorial |
T6 Tutorial on L6. Questions uploaded in BB. Learning outcomes: L01, L02, L03, L04, L05 |
|
Week 8 (09 Sep - 15 Sep) |
Lecture |
L7 New Keynesian Model: Microfoundations of IS-LM Reference: GLS, Ch.24 Learning outcomes: L01, L02, L03, L04, L05 |
Tutorial |
No tutorials in Week 8, due to In-Sem Exam in Week 7 |
|
Week 9 (16 Sep - 22 Sep) |
Lecture |
L8 NK model: Microfoundations of the Supply Side Reference: GLS, Chs. 25, 26 Learning outcomes: L01, L02, L03, L04, L05 |
Tutorial |
T7 Tutorial on L7. Questions uploaded in BB. Learning outcomes: L01, L02, L03, L04, L05 |
|
Mid Sem break (23 Sep - 29 Sep) |
No student involvement (Breaks, information) |
No classes this week. |
Week 10 (30 Sep - 06 Oct) |
Lecture |
L9 Monetary and Fiscal Policy in the NK Model Reference: GLS, Ch.28 Learning outcomes: L01, L02, L03, L04, L05 |
Tutorial |
T8 Tutorial on Lecture 8. Questions uploaded to BB. Learning outcomes: L01, L02, L03, L04, L05 |
|
Week 11 (07 Oct - 13 Oct) |
Lecture |
L10 The Phillips Curve_Evidence for Australia Ref: RBA discussion paper, 2021-09 Learning outcomes: L01, L02, L03, L04, L05 |
Tutorial |
T9 Tutorial on Lecture 9. Questions uploaded to BB. If your tutorial is on the public holiday (Monday), please attend a tutorial on another day if possible. Learning outcomes: L01, L02, L03, L04, L05 |
|
Week 12 (14 Oct - 20 Oct) |
Lecture |
L11 The Zero Lower Bound and Monetary Policy in the NK Model Reference: GLS, Ch. 29 Learning outcomes: L01, L02, L03, L04, L05 |
Tutorial |
T10 This tutorial will review the mid-sem test answers and/or review content in preparation for the final assessment task. Learning outcomes: L01, L02, L03, L04, L05 |
|
Week 13 (21 Oct - 27 Oct) |
Lecture |
L12 Review lecture Reference: GLS, all chapters covered in this course Learning outcomes: L01, L02, L03, L04, L05 |
Tutorial |
T11 Tutorial on Lecture 10. Questions uploaded to BB. Learning outcomes: L01, L02, L03, L04, L05 |
Policies and procedures
University policies and procedures apply to all aspects of student life. As a UQ student, you must comply with University-wide and program-specific requirements, including the:
- Student Code of Conduct Policy
- Student Integrity and Misconduct Policy and Procedure
- Assessment Procedure
- Examinations Procedure
- Reasonable Adjustments - Students Policy and Procedure
Learn more about UQ policies on my.UQ and the Policy and Procedure Library.