Units

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Sample subject outline - Semester 1 2013

Note: Subject outlines often change before the semester begins. Below is a sample outline.

Rationale

This unit is one of the two core units in the coursework component of the Honours course in Economics. It also serves as a postgraduate elective for certain other courses, although a prerequisite is an undergraduate degree in economics. The unit deals with macroeconomics and builds on the core undergraduate macroeconomic units in the Economics major. Contemporary Macroeconomic Theory, as its name implies, is intended to provide students with an understanding of the major theoretical themes of modern macroeconomics. This will provide students with a deeper appreciation of macroeconomic policy debates as well as a more complete insight into the potential impact of a range of macroeconomic shocks on the economy.

Aims

At the completion of this unit, students will:

- better understand the different theoretical explanations for the behaviour of the national economy in an international context;
- be familiar with the competing policy approaches to management of the macro economy in a global context;
- be able to use the tools of modern macroeconomics to analyse current issues in macroeconomics;
- develop skills for higher degree research in macroeconomics.

Objectives

Course Learning Goals (Postgraduate)

The QUT Business School has established the Assurance of Learning (AoL) Goals to meet contemporary industry needs and standards. Achieving these learning outcomes will assist you to meet the desired graduate outcomes set at QUT - aligned with other internationally renowned business schools.

Have knowledge and skills pertinent to a particular discipline (KS)
1.1 Well-researched knowledge and critical understanding applied to issues at the forefront of a specialised discipline area
1.2 Ability to select and use effectively a range of tools and technologies to locate and/or generate information appropriate to the disciplinary context

Be critical thinkers and effective problem solvers (CTA)
2.1 Apply logical, critical and creative thinking and judgement to generate appropriate solutions to problems in the disciplinary context

Be professional communicators in an intercultural context (PC)
3.1 Ability to create and present professional documents and/or reports using high levels of analysis/synthesis/evaluation for a range of contexts and audiences
3.2 Ability to orally communicate and justify ideas and information, at a professional level, for a variety of contexts and audiences, including peers and discipline specialists

Be able to work effectively in a Team Environment (TW)
4.1 Operate effectively and with flexibility to achieve common goals in collaborative settings, using a range of skills, including leadership, negotiation, reflection, proactivity and support for team members

Have a Social and Ethical Understanding (SEU)
5.1 Apply knowledge of the ethical, social and cultural dimensions relevant to business situations, including appropriate standards or codes of practice, to provide courses of action

The specific course learning goals that apply to this unit are shown in the assessment section of this unit outline.

Please refer to the "Aims" Section above.

Content

This unit develops an understanding of contemporary macroeconomic models explicitly based on micro-foundations with a view to understanding major themes and issues in international macroeconomics. Topics include the basic theoretical foundations of dynamic, intertemporal and general equilibrium models which are then applied to issues relating to economic growth, business cycles, international income differences, the evolution of inequality within and across countries, global linkages and endogenous growth.

Approaches to Teaching and Learning

Course Learning Goals (Postgraduate)
The QUT Business School has established the Assurance of Learning (AoL) Goals to meet contemporary industry needs and standards. Achieving these learning outcomes will assist you to meet the desired graduate outcomes set at QUT - aligned with other internationally renowned business schools.

Have knowledge and skills pertinent to a particular discipline (KS)

1.1 Well-researched knowledge and critical understanding applied to issues at the forefront of a specialised discipline area
1.2 Ability to select and use effectively a range of tools and technologies to locate and/or generate information appropriate to the disciplinary context

Be critical thinkers and effective problem solvers (CTA)

2.1 Apply logical, critical and creative thinking and judgement to generate appropriate solutions to problems in the disciplinary context

Be professional communicators in an intercultural context (PC)

3.1 Ability to create and present professional documents and/or reports using high levels of analysis/synthesis/evaluation for a range of contexts and audiences
3.2 Ability to orally communicate and justify ideas and information, at a professional level, for a variety of contexts and audiences, including peers and discipline specialists

Be able to work effectively in a Team Environment (TW)

4.1 Operate effectively and with flexibility to achieve common goals in collaborative settings, using a range of skills, including leadership, negotiation, reflection, proactivity and support for team members

Have a Social and Ethical Understanding (SEU)

5.1 Apply knowledge of the ethical, social and cultural dimensions relevant to business situations, including appropriate standards or codes of practice, to provide courses of action


The specific course learning goals that apply to this unit are shown in the assessment section of this unit outline.

Please refer to the 'Aims' section above.

Assessment

Students will receive feedback in various forms throughout the semester which may include:

• Informal: worked examples, such as verbal feedback in class, personal consultation


• Formal: in writing, such as checklists (e.g. criteria sheets), written commentary


• Direct: to individual students, either in written form or in consultation


• Indirect: to the whole class

Assessment name: Tutorial Assignment Set 1
Description: Problem solving and MATLAB based exercises.
Length/Duration:TBA
Formative and Summative:TBA
Relates to objectives: Unit Objectives; 1,2,3,4 & 5. Learning Outocmes; KS (1.1; 1.2), CTA (2.1), PC (3.1; 3.2), TW (4.1), SEU (5.1)
Weight: 40%
Internal or external: Internal
Group or individual: Group
Due date: 4, 6, 9, 11 (approx)


Assessment name: End of Semester Examination
Description: The final examination provides students with the opportunity to demonstrate their understanding of a number of topics which make up the unit content.
Length/Duration:2 and 50 minutes plus 10 minutes perusal
Formative or Summative:TBA
Relates to objectives: Unit Objectives; 1,2,3,4 & 5. Learning Outocmes; KS (1.1; 1.2), CTA (2.1), PC (3.1; 3.2), TW (4.1), SEU (5.1)
Weight: 60%
Internal or external: Internal
Group or individual: Individual
Due date: Central Exam Period


Academic Honesty

QUT is committed to maintaining high academic standards to protect the value of its qualifications. To assist you in assuring the academic integrity of your assessment you are encouraged to make use of the support materials and services available to help you consider and check your assessment items. Important information about the university's approach to academic integrity of assessment is on your unit Blackboard site.

A breach of academic integrity is regarded as Student Misconduct and can lead to the imposition of penalties.

Resource materials

Texts and References

There is no prescribed text book. Students will receive instruction on reading material in the first meeting of the class. However, the following are recommended as useful references.

Obstfeld, M and Rogoff, K (1996), Foundations of International Macroeconomics.
Adda, J and Cooper, R (2003), Dynamic Economics: Quantitative Methods and Applications.
Burkhard, H and Maussner, A (2004), Dynamic General Equilibrium and Modelling: Computational Methods and Applications.
Handbook of Macroeconomics, Volume 1-3, edited by Taylor and Woodford, Elsevier, 1999.
Handbook of Economic Growth, edited by Aghion and Durlauf, Elsevier, 2005.

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Risk assessment statement

There are no out-of-the-ordinary risks associated with lectures or tutorials in this unit. You should, however, familiarise yourself with evacuation procedures operating in the buildings in which you attend classes and take the time to
view the Emergency video.

Disclaimer - Offer of some units is subject to viability, and information in these Unit Outlines is subject to change prior to commencement of semester.

Last modified: 13-Feb-2013