MAE302 - Macroeconomics of Open Economies
Unit details
Year: | 2020 unit information |
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Important Update: | Classes and seminars in Trimester 2, 2020 will be online. Last updated: 2 June 2020 |
Enrolment modes: | Trimester 1: Burwood (Melbourne), Online |
Credit point(s): | 1 |
EFTSL value: | 0.125 |
Unit Chair: | Trimester 1: Xueli Tang |
Prerequisite: | MAE203 |
Corequisite: | Nil |
Incompatible with: | Nil |
Typical study commitment: | Students will on average spend 150 hours over the teaching period undertaking the teaching, learning and assessment activities for this unit. |
Scheduled learning activities - campus: | 1 x 2 hour class, 1 x 1 hour seminar per week |
Scheduled learning activities - cloud: | Online independent and collaborative learning activities including 3 scheduled online seminars |
Content
This unit will provide an understanding of the macroeconomic theories in the context of open economies. The unit scrutinises the theoretical underpinnings of economic policy in open economies, such as monetary and fiscal policy and exchange rate determination. It addresses key issues involved in macroeconomic analysis as it informs policy treatment of fluctuations and growth in open economies and integration into the global economy.
| These are the Learning Outcomes (ULO) for this Unit | |
ULO1 | Apply macro-economic theory to analyse contemporary economic issues. | GLO1: Discipline-specific knowledge and capabilities |
ULO2 | Search for data from various sources, e.g. journals, internet, popular press and be able to assess and provide constructive criticism of public policy and debate concerning open economy issues. | GLO2: Communication |
ULO3 | Understand the foreign exchange market and the specific roles of exchange rates in asset and commodity markets. | GLO4: Critical thinking |
ULO4 | Cogently argue the merits or otherwise of particular government policy in the context of the open economy. | GLO5: Problem solving |
ULO5 | Understand the implications of international interdependence for the conduct of national stabilisation policies. | GLO8: Global citizenship |
On completion of this unit students should be able to:
- understand the essential properties of asset exchanges
- understand the foreign exchange market and the specific roles of exchange rates in asset and commodity markets
- understand the important role of money and interest rates in modern economies
- understand the difference between temporary changes and permanent shifts in fiscal and monetary polices
- understand the role of central banks
- understand the implications of international interdependence for the conduct of national stabilisation policies
- apply macro-economic theory to analyse contemporary economic issues
- search for data from various sources, e.g. journals, internet, popular press and be able to assess and provide constructive criticism of public policy and debate concerning open economy issues
- cogently argue the merits or otherwise of particular government policy in the context of the open economy.
These Unit Learning Outcomes are applicable for all teaching periods throughout the year
Assessment
Assessment Description | Student output | Grading and weighting (% total mark for unit) | Indicative due week |
Assessment 1: (Individual) - Quantitative Assignment | 20% | Week 7 | |
Assessment 2: (Group of 3 students) - Written assignment | 2,500 words | 20% | Week 11 |
Examination | 2-hours | 60% | Exam period |
The assessment due weeks provided may change. The Unit Chair will clarify the exact assessment requirements, including the due date, at the start of the teaching period.
Hurdle requirement
Hurdle requirement: achieve at least 50% of the marks available on the examination
Learning Resource
The texts and reading list for the unit can be found on the University Library via the link below: MAE302 Note: Select the relevant trimester reading list. Please note that a future teaching period's reading list may not be available until a month prior to the start of that teaching period so you may wish to use the relevant trimester's prior year reading list as a guide only.
Unit Fee Information
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