This course introduces the student to methods and issues in contemporary macroeconomics. A good understanding of the various macroeconomic issues and models is vital for any student of economics, business and finance. A central theme is the inter-relationship between empirical macroeconomic outcomes and theoretical constructs for explaining or understanding these outcomes. These models can also be used to understand and re-invent macroeconomic policies. In this course we also aim to bring the themes in undergraduate macroeconomic studies closer to what is taught in graduate courses, and also closer to how macroeconomics is done in the best universities and policy institutions such as the U.S. Federal Reserve, the International Monetary Fund, the European Central Bank, Bank of England, the Reserve Banks of New Zealand and Australia.

Learning Outcomes

Upon successful completion, students will have the knowledge and skills to:

1. Possess a coherent set of ideas for understanding macroeconomic phenomena and policy issues
2. Understand the assumptions, structure and micro-foundations of a macroeconomic model and understand its power and shortcomings
3. Formulate a relevant model and use such analytical tools in addressing a key macroeconomic question independently
4. Understand the different ways in which economic issues can be tackled.

Research-Led Teaching

This course will expose students to the frontier research and cutting-edge modelling tools in contemporary macroeconomics. It will cover all pressing macroeconomic issues Australia faces now and years to come. 

Examination Material or equipment

[1] Internet access

[2] Paper, pen, pencil, and calculator

[3] Camera to take photos of the exam papers

Required Resources

[1] Internet access

[2] Computer/smart phone to access online learning materials

Recommended Resources

[1] Stephen D. Williamson, “Macroeconomics”. Pearson Addison Wesley Publishers (International version). The online version of this book is available. You can purchase the textbook online or from the bookstore on campus.

[2] My own lecture notes, slides and other discussion materials are available in the wattle site.

Staff Feedback

Students will be given feedback in the following forms in this course:

• written comments
• verbal comments
• feedback to whole class, groups, individuals, focus group etc

Student Feedback

ANU is committed to the demonstration of educational excellence and regularly seeks feedback from students. Students are encouraged to offer feedback directly to their Course Convener or through their College and Course representatives (if applicable). The feedback given in these surveys is anonymous and provides the Colleges, University Education Committee and Academic Board with opportunities to recognise excellent teaching, and opportunities for improvement. The Surveys and Evaluation website provides more information on student surveys at ANU and reports on the feedback provided on ANU courses.

Class Schedule

Week/Session	Summary of Activities	Assessment
1	Introduction and Review	Chapters 1-3
2	Economic Growth: Facts and Theory	Chapters 7-8
3	Economic Growth: Macroeconomic Policy and Growth	Chapters 7-8; online quiz 1
4	Microfoundations: Household and Firm Behaviours	Chapters 4
5	One Period Macroeconomic Model	Chapter 5
6	Saving and Investment Decisions	Chapters 9-10; possible mid-semster exam
7	Two Period Model	Chapter 10
8	Dynamic General Equilibrium Model	Chapter 11; online quiz 2
9	Dynamic General Equilibrium Model: Applications	Chapter 11
10	Money, Banking, Prices and Monetary Policy	Chapter 12; online quiz 3
11	Real Business Cycle Model	Chapter 13
12	New Keynesian Model	Chapter 14; online quiz 4

Tutorial Registration

Tutorials will be delivered online. You are expected to attend one tutorial each week from Week 2 onwards. You must enrol in a tutorial using the Wattle site for this course, and attend the tutorial in which you are enrolled. Further information will be available on the Wattle course site in O-week.

Assessment Summary

Assessment task	Value	Due Date	Return of assessment	Learning Outcomes
Assessment 1: Online quiz 1	5 %	16/08/2020	29/08/2020	1,2,3,4
Assessment 2: Mid-Semester Exam	30 %	01/09/2020	26/09/2020	1,2,3,4
Assessment 3: Online quiz 2	5 %	28/09/2020	10/10/2020	1,2,3,4
Assessment 4: Online quiz 3	5 %	12/10/2020	20/10/2020	1,2,3,4
Assessment 5: Online quiz 4	5 %	20/10/2020	02/11/2020	1,2,3,4
Assessment 6: Final exam	50 %	08/11/2020	30/11/2020	1,2,3,4

* If the Due Date and Return of Assessment date are blank, see the Assessment Tab for specific Assessment Task details

Policies

ANU has educational policies, procedures and guidelines, which are designed to ensure that staff and students are aware of the University’s academic standards, and implement them. Students are expected to have read the Academic Misconduct Rule before the commencement of their course. Other key policies and guidelines include:

• Student Assessment (Coursework) Policy and Procedure
• Special Assessment Consideration Policy and General Information 
• Student Surveys and Evaluations
• Deferred Examinations
• Student Complaint Resolution Policy and Procedure

Assessment Requirements

The ANU is using Turnitin to enhance student citation and referencing techniques, and to assess assignment submissions as a component of the University's approach to managing Academic Integrity. For additional information regarding Turnitin please visit the Academic Integrity . In rare cases where online submission using Turnitin software is not technically possible; or where not using Turnitin software has been justified by the Course Convener and approved by the Associate Dean (Education) on the basis of the teaching model being employed; students shall submit assessment online via ‘Wattle’ outside of Turnitin, or failing that in hard copy, or through a combination of submission methods as approved by the Associate Dean (Education). The submission method is detailed below.

Moderation of Assessment

Marks that are allocated during Semester are to be considered provisional until formalised by the College examiners meeting at the end of each Semester. If appropriate, some moderation of marks might be applied prior to final results being released.

Participation

Due to travel restrictions this course will be delivered through online platforms. Aspects of the delivery will be asynchronous. However, there will be synchronous activities also taking place. Details on the delivery of this course and expectations of student participation are outlined in further detail on the Wattle course site by O-week. 

Examination(s)

See information above in assessment tasks.

Assessment Task 1

Assessment 1: Online quiz 1

This test provide feedback on your progress. It will be administered online during week 3 and covered all topics in chapters 1-3. Students who miss the online quiz will be able to count the final exam for bigger weighting of the total mark. The results will be given back to students within a week. Further details will be given in lectures in Week 2.

Assessment Task 2

Assessment 2: Mid-Semester Exam

The exact dates for each course will be announced by the University. The online mid-semester exam is not compulsory but recommended. Students who skip the mid-semester will be able to count the final exam for bigger weighting of the total mark. The results will be given back to students after the break. Further details will be given in wattle in Week 5.

Assessment Task 3

Assessment 3: Online quiz 2

This test provide feedback on your progress in week 8. Students who miss the online quiz will be able to count the final exam for bigger weighting of the total mark. The results will be given back to students within a week. Further details will be given in lectures or in wattle. Further details will be given in wattle one week in advance.

Assessment Task 4

Assessment 4: Online quiz 3

This test provide feedback on your progress in week 10. Students who miss the online quiz will be able to count the final exam for bigger weighting of the total mark. Further details will be given in lectures or in wattle. The results will be given back to students within a week. Further details will be given in wattle one week in advance.

Assessment Task 5

Assessment 5: Online quiz 4

This test provide feedback on your progress in week 12. Students who miss the online quiz will be able to count the final exam for bigger weighting of the total mark. Further details will be given in lectures. The results will be given back to students within a week. Further details will be given in wattle one week in advance.

Assessment Task 6

Assessment 6: Final exam

The exact dates for each course will be announced by the University. The online final exam is compulsory for all students. The final results will be announced by the university at the end of marking period. Further details will be given in wattle and during lectures in weeks 10-12.

Academic Integrity

Academic integrity is a core part of the ANU culture as a community of scholars. At its heart, academic integrity is about behaving ethically, committing to honest and responsible scholarly practice and upholding these values with respect and fairness.

The ANU commits to assisting all members of our community to understand how to engage in academic work in ways that are consistent with, and actively support academic integrity. The ANU expects staff and students to be familiar with the academic integrity principle and Academic Misconduct Rule, uphold high standards of academic integrity and act ethically and honestly, to ensure the quality and value of the qualification that you will graduate with.

The Academic Misconduct Rule is in place to promote academic integrity and manage academic misconduct. Very minor breaches of the academic integrity principle may result in a reduction of marks of up to 10% of the total marks available for the assessment. The ANU offers a number of online and in person services to assist students with their assignments, examinations, and other learning activities. Visit the Academic Skills website for more information about academic integrity, your responsibilities and for assistance with your assignments, writing skills and study.

Online Submission

You will be required to electronically sign a declaration as part of the submission of your assignment. Please keep a copy of the assignment for your records. Unless an exemption has been approved by the Associate Dean (Education) submission must be through Turnitin.

Hardcopy Submission

For some forms of assessment (hand written assignments, art works, laboratory notes, etc.) hard copy submission is appropriate when approved by the Associate Dean (Education). Hard copy submissions must utilise the Assignment Cover Sheet. Please keep a copy of tasks completed for your records.

Late Submission

Individual assessment tasks may or may not allow for late submission. Policy regarding late submission is detailed below:

• Late submission not permitted. If submission of assessment tasks without an extension after the due date is not permitted, a mark of 0 will be awarded.

Referencing Requirements

Accepted academic practice for referencing sources that you use in presentations can be found via the links on the Wattle site, under the file named “ANU and College Policies, Program Information, Student Support Services and Assessment”. Alternatively, you can seek help through the Students Learning Development website.

Extensions and Penalties

Extensions and late submission of assessment pieces are covered by the Student Assessment (Coursework) Policy and Procedure. Extensions may be granted for assessment pieces that are not examinations or take-home examinations. If you need an extension, you must request an extension in writing on or before the due date. If you have documented and appropriate medical evidence that demonstrates you were not able to request an extension on or before the due date, you may be able to request it after the due date.

Privacy Notice

The ANU has made a number of third party, online, databases available for students to use. Use of each online database is conditional on student end users first agreeing to the database licensor’s terms of service and/or privacy policy. Students should read these carefully. In some cases student end users will be required to register an account with the database licensor and submit personal information, including their: first name; last name; ANU email address; and other information.
In cases where student end users are asked to submit ‘content’ to a database, such as an assignment or short answers, the database licensor may only use the student’s ‘content’ in accordance with the terms of service – including any (copyright) licence the student grants to the database licensor. Any personal information or content a student submits may be stored by the licensor, potentially offshore, and will be used to process the database service in accordance with the licensors terms of service and/or privacy policy.
If any student chooses not to agree to the database licensor’s terms of service or privacy policy, the student will not be able to access and use the database. In these circumstances students should contact their lecturer to enquire about alternative arrangements that are available.

Distribution of grades policy

Academic Quality Assurance Committee monitors the performance of students, including attrition, further study and employment rates and grade distribution, and College reports on quality assurance processes for assessment activities, including alignment with national and international disciplinary and interdisciplinary standards, as well as qualification type learning outcomes.

Since first semester 1994, ANU uses a grading scale for all courses. This grading scale is used by all academic areas of the University.

Support for students

The University offers students support through several different services. You may contact the services listed below directly or seek advice from your Course Convener, Student Administrators, or your College and Course representatives (if applicable).

• ANU Health, safety & wellbeing for medical services, counselling, mental health and spiritual support
• ANU Diversity and inclusion for students with a disability or ongoing or chronic illness
• ANU Dean of Students for confidential, impartial advice and help to resolve problems between students and the academic or administrative areas of the University
• ANU Academic Skills and Learning Centre supports you make your own decisions about how you learn and manage your workload.
• ANU Counselling Centre promotes, supports and enhances mental health and wellbeing within the University student community.
• ANUSA supports and represents undergraduate and ANU College students
• PARSA supports and represents postgraduate and research students