Course Guide

ECON - 1042 MACROECONOMICS 2

COURSE GUIDE SEMESTER 1 - 2013

COURSE CODE ECON-1042 COURSE NAME Macroeconomics 2 DURATION One Semester CREDIT POINTS 12 points WEEKLY CONTACT HOURS 3 hours per week for 12 weeks WEEKLY NON-CONTACT HOURS 9 hours

PREREQUISITES ECON-1010/EF110 /MEF110 Macroeconomics 1, or equivalent

ASSESSMENT Two tests worth 20% each One two-hour final examination worth 60% GRADINGS HD, D, C, P, N

LECTURERS Greg Maynes Room: 108.12.76 Telephone: [phone] Fax: 9925 5986 E-mail: [e-mail]

1. AIMS AND OBJECTIVES

The aim of this subject is to extend students understanding of the workings of the Australian economy and its effect on the business environment. The analytical tools necessary for such understanding will be developed throughout the semester.

Specific objectives include:

(i) Developing a framework in which the simultaneous determination of economic aggregates such as output, prices, employment and interest rates can be explained, building upon the various economic models introduced in Macroeconomics 1, or the equivalent introductory macroeconomics course;

(ii) Providing students with the ability to identify and discuss major schools of economic thought within this framework, and link them to particular time periods;

(iii) Enabling students to develop the necessary tools to analyse current economic problems and policy positions;

(iv) Extending the understanding students have of the interrelationships between Australia, and other sovereign economies, including those in the Asia-Pacific region, and the world economy.

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2. TEXTBOOKS AND READING

The prescribed textbook that students are expected to purchase is:

* MACROECONOMICS – ECON-1042 MACROECONOMICS 2 – A PEARSON AUSTRALIA CUSTOM BOOK; Pearson

References: 0 Abel, A.B., and Bernanke, B.S., "Macroeconomics", (Fifth Edition, Addison-Wesley, 2005). * 1 Baily, M.N., and Friedman, P., “Macroeconomics, Financial Markets, and the International Sector” (Second Edition, Irwin, 1995) 3 Blanchard, O., and Sheen, J., ”Macroeconomics; Third Australasian Edition” (Pearson Education, Australia, 2009) * 4 Dornbusch, R., Bodman, P., Fischer, Crosby, M., Fischer, S., and Startz, R., "Macroeconomics" SECOND AUSTRALIAN EDITION (McGraw-Hill, 2006) * 5 Froyen, R.T., "Macroeconomics: Theories and Policies", (Ninth Edition, Pearson, 2009) * 6 Galbraith, J.K., and Darity, W., “Macroeconomics” (Houghton Mifflin, 1994) 7 Gartner, M., “A Primer in European Macroeconomics (Prentice-Hall, 1997) 8 Gartner, M., “Macroeconomics” (Third Edition, Pearson, 2009) 9 Hall, R.E., and Taylor, J.B., “Macroeconomics” (Fifth Edition, W.W * 10 Indecs Economics, "State of Play 8" (Allen and Unwin, 1995) * 13 Layton, A., "Modern Australian Macroeconomics", (Thomas Nelson, 1994) 15 Makin, A., “International Macroeconomics”, (Pearson Education, 2002) * 16 Mankiw, N.G., "Macroeconomics", (Fifth Edition, Worth Publishers, 2003) * 17 McDonald, I.M., "Macroeconomics" (Second Edition, John Wiley, 1996) * 18 McTaggart, D., Findlay, L., and Parkin, M., "Macroeconomics", (Fourth Edition, Addison-Wesley, 2002) * 19 Peterson, W.C., and Estenson, P.S., "Income, Employment and Economic Growth, (Seventh Edition, W.W. Norton, 1992) * 20 Ruffin, R.J., and Gregory, P.R., "Principles of Economics", (Fourth Edition, Scott-Foresman, 1990) * 21 Samuelson, P., Nordhaus, W., Richardson, S., Scott, G., and Wallace, R., "Economics Volume 2: Macroeconomics" (Third Australian Edition, McGraw-Hill, Sydney, 1992) * 22 Stiglitz, J.E., "Economics", (W. W. Norton and Co., 1993) * 23 Walker, G., Murphy, T., and Perry, L., (eds), "Australia Macroeconomics" (Third Edition, Prentice Hall, 1987) 24 Williamson, S.D., “Macroeconomics” (Fourth Edition, Pearson, 2010)