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
International monetary system, the IMF, dependent economy models, competitiveness, fiscal & monetary policy in open economy, external adjustment, capital mobility, exchange rate volatility, the current account, macroeconomics of foreign investment & external debt.
The course emphasises theory and policy issues in international financial markets. Itﾠdevelops conceptualﾠframeworks or models to analyse the determinants of international capital movements, current account imbalances, and nominal and real exchange rates. Theﾠframework is then used to study various policy issues such as a country's large trade deficits, global trade imbalances, developing-country debt crises, the current European financial crisis, exchange-rate based inflation stabilization, currency unions, debt default, balance-of-payment crises, and the effect of the great recession on the world economy.
Course requirements
Assumed background
Students with a solid knowledge in macroeconomics as well as an interest in theoretical and applied monetary and international macroeconomics.
Prerequisites
You'll need to complete the following courses before enrolling in this one:
ECON2020 or 2021
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
Lecturer
Tutor
Ms Mac Thuy Linh Tran
Mr Jacob Behne
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. Tutorials Commence in Teaching Week 2.
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.
Important dates:
- 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 course deals with theoretical, applied and policy issues in international macroeconomics. Throughﾠthis study programﾠ students will obtain the ability to define, analyse and discuss issues and problems related to international capital movements, trade imbalances, and exchange rate policies. The course aims further to develop students’ analytical skills and to encourageﾠcritical thinking. Opportunity is given in lectures and in assessments for students to apply critical reasoning, independent thought and informed judgement, to evaluate popular as well as academic opinions and to reflect on the assumptions and justifications for economic findings and proposals. Students are encouraged to collect, analyse and organise information and ideas independently through wider reading and to convey those ideas clearly and fluently in both written and spoken forms.
Learning outcomes
After successfully completing this course you should be able to:
LO1.
Name and describe the major elements of the international finance
LO2.
Understand the key determinants of current account movements and nominal/real exchange rates
LO3.
Discuss the structure of the international finance and trade framework and the role of the various national and supra-national institutions that constitute the system
LO4.
Assess the benefits and limits of the major economic tools and models in providing answers or solutions to questions or problems emerging from cross-national economic activity
Assessment
Assessment summary
| Category | Assessment task | Weight | Due date |
|---|---|---|---|
| Quiz | Weekly Computer-Based Quizzes | 10% (Best 10 of 11) |
29/07/2024 - 21/10/2024 |
| Tutorial/ Problem Set | Problem Set 1 | 20% |
26/08/2024 4:00 pm |
| Tutorial/ Problem Set | Problem Set 2 | 20% |
14/10/2024 4:00 pm |
| Examination |
Final Exam
|
50% |
End of Semester Exam Period 2/11/2024 - 16/11/2024 |
Assessment details
Weekly Computer-Based Quizzes
- Mode
- Activity/ Performance
- Category
- Quiz
- Weight
- 10% (Best 10 of 11)
- Due date
29/07/2024 - 21/10/2024
- Learning outcomes
- L01, L02
Task description
- There will be online quizzes every week starting from Week 2.
- The best 10 scores out of 11 weeks will be averaged for the final online quiz mark (10% of the course).
- The quizzes will be based on the course materials covered in the previous week.
- 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
Deferral or extension
You cannot defer or apply for an extension for this assessment.
Late submission
You will receive a mark of 0 if this assessment is submitted late.
Late submissions after the deadline for each quiz will not be possible. Access to each quiz on Blackboard will be blocked once the due date and time expires.
Problem Set 1
- Mode
- Written
- Category
- Tutorial/ Problem Set
- Weight
- 20%
- Due date
26/08/2024 4:00 pm
- Learning outcomes
- L01, L02, L03, L04
Task description
- The problem set consists of short answer questions, numerical excercise, and data analysis.
- 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
Assignment to be submitted via BB by the due date and time.
Deferral or extension
You may be able to apply for an extension.
The maximum extension allowed is 7 days. Extensions are given in multiples of 24 hours.
Extensions are limited to 7 calendar 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.
Problem Set 2
- Mode
- Written
- Category
- Tutorial/ Problem Set
- Weight
- 20%
- Due date
14/10/2024 4:00 pm
- Learning outcomes
- L01, L02, L03, L04
Task description
- The problem set consists of short answer questions, numerical excercise, and data analysis.
- 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
Assignment to be submitted via BB by the due date and time.
Deferral or extension
You may be able to apply for an extension.
The maximum extension allowed is 7 days. Extensions are given in multiples of 24 hours.
Extensions are limited to 7 calendar 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
- 50%
- Due date
End of Semester Exam Period
2/11/2024 - 16/11/2024
- Learning outcomes
- L01, L02, L03, L04
Task description
The final exam will comprise MCQs, problem solving and short answer type questions based on all the lectures in the semester.
The exam will be centrally scheduled in the examination period.
Further details about the exam will be posted on the course Blackboard site.
Exam details
| Planning time | 10 minutes |
|---|---|
| Duration | 120 minutes |
| Calculator options | (In person) Casio FX82 series only or UQ approved and labelled calculator |
| Open/closed book | Closed Book examination - specified written materials permitted |
| Materials | One A4 sheet of handwritten notes, double sided, is 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 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 |
Introduction Learning outcomes: L01 |
Week 2 (29 Jul - 04 Aug) |
Lecture |
Current Account Theory Learning outcomes: L01, L02 |
Week 3 (05 Aug - 11 Aug) |
Lecture |
Current Account Theory Learning outcomes: L01, L02, L03, L04 |
Week 4 (12 Aug - 18 Aug) |
Lecture |
Current Account Theory Learning outcomes: L01, L02, L03, L04 |
Week 5 (19 Aug - 25 Aug) |
Lecture |
Advanced Topic: Current Account and Uncertainty Learning outcomes: L01, L02, L03, L04 |
Week 6 (26 Aug - 01 Sep) |
Lecture |
Advanced Topic: External Shocks in Open Economy Learning outcomes: L01, L02, L03, L04 |
Week 7 (02 Sep - 08 Sep) |
Lecture |
Advanced Topic: Fiscal Deficits Learning outcomes: L01, L02, L03, L04 |
Week 8 (09 Sep - 15 Sep) |
Lecture |
International Capital Market Learning outcomes: L01, L02, L04 |
Week 9 (16 Sep - 22 Sep) |
Lecture |
Exchange Rate Theory Learning outcomes: L01, L02, L04 |
Mid Sem break (23 Sep - 29 Sep) |
No student involvement (Breaks, information) |
No classes during the break |
Week 10 (30 Sep - 06 Oct) |
Lecture |
Exchange Rate Theory Learning outcomes: L01, L02, L03, L04 |
Week 11 (07 Oct - 13 Oct) |
No student involvement (Breaks, information) |
No classes this week due to public holiday |
Week 12 (14 Oct - 20 Oct) |
Lecture |
Exchange Rate Theory Learning outcomes: L01, L02, L03, L04 |
Week 13 (21 Oct - 27 Oct) |
Lecture |
Advanced Topic: Monetary Policy Learning outcomes: L01, L02, L03, L04 |
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.