ECONS501-21A (HAM)

Macroeconomic Analysis

15 Points

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Division of Management
School of Accounting, Finance and Economics

Staff

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Convenor(s)

Lecturer(s)

Administrator(s)

: denise.martin@waikato.ac.nz

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: clive.wilkinson@waikato.ac.nz

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Paper Description

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This paper covers selected aspects of macroeconomic theory, policy and evidence. The topics included cover economic growth, business cycles, employment, inflation, price-setting behaviour, macroeconomic policy and the development of macroeconomic analysis. A key feature of the macroeconomic modelling in this paper is built on the interaction between goods market equilibrium, monetary policy rules and the inflation-unemployment trade-off. We examine the roles played by the financial sector and debt.
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Paper Structure

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The teaching time will comprise lectures. The lectures will feature discussion primarily based on macroeconomic theory. They will also draw on case studies that demonstrate the testing of key hypotheses implied by theory. At the outset of the paper, it will be presumed that students already have a solid background knowledge of macroeconomics and quantitative skills. Before starting the paper, students are therefore advised to review the macroeconomics material from an introductory textbook such as Macroeconomics by Blanchard, as well as revise their quantitative studies.
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Learning Outcomes

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Students who successfully complete the paper should be able to:

  • 1. Build and interpret macroeconomic models.
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  • 2. Use these models to enhance their understanding of real world experience.
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  • 3. Employ these models for the purpose of policy design.
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  • 4. Critically appraise macroeconomic models.
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Assessment

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The assessment is based on two class tests to be sat during the teaching weeks plus an assignment to be submitted after the teaching weeks.
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Assessment Components

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The internal assessment/exam ratio (as stated in the University Calendar) is 100:0. There is no final exam. The final exam makes up 0% of the overall mark.

The internal assessment/exam ratio (as stated in the University Calendar) is 100:0 or 0:0, whichever is more favourable for the student. The final exam makes up either 0% or 0% of the overall mark.

Component DescriptionDue Date TimePercentage of overall markSubmission MethodCompulsory
1. Test 1
7 Apr 2021
9:00 AM
33
  • In Class: In Lecture
2. Test 2
2 Jun 2021
9:00 AM
33
  • In Class: In Lecture
3. Assignment
14 Jun 2021
1:00 PM
34
  • Online: Submit through Moodle
Assessment Total:     100    
Failing to complete a compulsory assessment component of a paper will result in an IC grade
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Required and Recommended Readings

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Required Readings

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Carlin, W. and D. Soskice (2015): Macroeconomics, Instability, and the Financial System, Oxford University Press.

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Recommended Readings

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Additional readings can be found here if you click here.

Further additional references will be recommended as the paper proceeds.

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Other Resources

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Introductory material for this paper

Dixon, H. (2009): Introductory Mathematics for Economics MSc’s, http://huwdixon.org/teaching/MScMaths/

Blanchard, O. (2017): Macroeconomics, 7th Edition, Pearson.

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Online Support

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All course materials are available through Moodle. A number of useful chapter appendices for Carlin and Soskice (2015) can be found here.
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Workload

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This is a 500 level course, and the 15 points represents approximately 150 learning hours on the part of the students. This course runs over 13 weeks, students are expected to put in at least 12 hours per week of learning effort over the duration of the course.
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Linkages to Other Papers

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Note any linkages to other papers where the linkage is of importance.
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Prerequisite(s)

Prerequisite papers: ECON200 or ECONS200, and ECON204 or ECONS205, and either ECON202, ECONS202 or at least 15 points at 200 level or above in Economics.

Corequisite(s)

Equivalent(s)

Restriction(s)

Restricted papers: ECON501, ECON503, ECON505 and ECON541

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