ECON 211 : Macroeconomics

Business and Economics

2022 Semester One (1223) (15 POINTS)

Course Prescription

Provides an introduction to the dynamic microfoundations of macroeconomics, and demonstrates how we can utilise these foundations (i) to understand the trends and fluctuations of macroeconomic aggregates like national output, unemployment, inflation and interest rates, and (ii) to predict the outcome of alternative government policies related to current economic problems of New Zealand and the rest of the world.

Course Overview

The course develops two commonly used theoretical models for studying macroeconomics. They help us understand global and national issues related to the functioning of a macroeconomy and its outcome with and without economic policies. One helps us examine the macroeconomic outcome in a perfectly exible (long-run) economy, while the other examines how the outcome changes under various institutional constraints (short- run) such as the minimum wage law, and ination targeting. We utilize interactive tools of learning which include visual, audio and abstract methods and require in-class activities and small group tutorials.

Course Requirements

Prerequisite: ECON 111 or 152 or 180 points in a BSc major in Mathematics or Statistics with a GPA of 5 or higher and a B or higher in MATHS 130, 150 or 153

Capabilities Developed in this Course

Capability 1: Disciplinary Knowledge and Practice
Capability 2: Critical Thinking
Capability 3: Solution Seeking
Capability 4: Communication and Engagement
Capability 5: Independence and Integrity
Capability 6: Social and Environmental Responsibilities
Graduate Profile: Bachelor of Commerce

Learning Outcomes

By the end of this course, students will be able to:
  1. Recognise the frameworks for measurement and analysis of macroeconomic outcomes. (Capability 1 and 5.1)
  2. Analyse macroeconomic models and methods to analyse current macroeconomic policy issues. (Capability 2 and 4.3)
  3. Examine alternative theories to plan policy options for the government and to outline their potential effects. (Capability 3 and 5.2)
  4. Identify and describe causes and consequences of economic growth and business cycles. (Capability 1, 2 and 6)
  5. Explain the determinants of a country’s trade deficit and the mechanism behind exchange rate fluctuations. (Capability 1, 2 and 4.2)
  6. Categorize through collaborative interactions in class the political issues and controversies surrounding the inflation and unemployment trade-off. (Capability 3, 4.3 and 6)

Assessments

Assessment Type Percentage Classification
Written Assignments 20% Group & Individual Coursework
Quizzes 10% Group & Individual Coursework
Test 20% Individual Test
Final Exam 50% Individual Examination
Assessment Type Learning Outcome Addressed
1 2 3 4 5 6
Written Assignments
Quizzes
Test
Final Exam

Workload Expectations

This course is a standard [15] point course and students are expected to spend 10 hours per week involved in each 15 point course that they are enrolled in.

For this course, you can expect 36 hours of lectures, 11 hours of tutorials in small groups (1 hour per week for 11 weeks), 24 hours (2 hours per week) of reading and thinking about the content related to 10 quizzes which involve interactions in small groups, 44 hours of work on assignments and/or test preparation, and 35 hours of study prior to the final exam.

Delivery Mode

Campus Experience

Attendance is expected at scheduled activities including tutorials to complete/receive credit for interactive assessment components of the course.

Lectures will be available as recordings. Other learning activities including tutorials will be available as recordings.

The course will include live online lectures and Q & A sessions including group discussions/tutorials via Zoom.

Attendance on campus for the test/exam may be required depending on the University guideline.

The activities for the course are scheduled as a standard weekly timetable.

Learning Resources

Course materials are made available in a learning and collaboration tool called Canvas which also includes reading lists and lecture recordings (where available).

Please remember that the recording of any class on a personal device requires the permission of the instructor.

Course materials are made available in a learning and collaboration tool called Canvas which also includes reading lists and lecture recordings (where available).

Please remember that the recording of any class on a personal device requires the permission of the instructor.

Learning Resources

1. Prescribed Textbook: Mankiw, Gregory N., Macroeconomics, 9th edition, Worth, 2017, ISBN 13: 978-1-4641- 8289-1 / 9781319154035, or, an equivalent such as https://ubiq.co.nz/p/macroeconomics-9781319154035.

2. Supplementary Resource: Mankiw, N. G., Bandyopadhyay, D. and Wooding, P. Principles of Macroeconomics in New Zealand, (2nd edition), CENGAGE Learning, 2009. ISBN – 13: 978-0170182089, Albany: www.cengage.com.au/mankiwNZ2eA

3. Electronic resources to be available via CANVAS.

Student Feedback

At the end of every semester students will be invited to give feedback on the course and teaching through a tool called SET or Qualtrics. The lecturers and course co-ordinators will consider all feedback and respond with summaries and actions.

Your feedback helps teachers to improve the course and its delivery for future students.

Class Representatives in each class can take feedback to the department and faculty staff-student consultative committees.

Other Information

Digital Resources
Course materials are made available in a learning and collaboration tool called Canvas which also includes reading lists and lecture recordings (where available).
Please remember that the recording of any class on a personal device requires the permission of the instructor.

Academic Integrity

The University of Auckland will not tolerate cheating, or assisting others to cheat, and views cheating in coursework as a serious academic offence. The work that a student submits for grading must be the student's own work, reflecting their learning. Where work from other sources is used, it must be properly acknowledged and referenced. This requirement also applies to sources on the internet. A student's assessed work may be reviewed against online source material using computerised detection mechanisms.

Class Representatives

Class representatives are students tasked with representing student issues to departments, faculties, and the wider university. If you have a complaint about this course, please contact your class rep who will know how to raise it in the right channels. See your departmental noticeboard for contact details for your class reps.

Inclusive Learning

All students are asked to discuss any impairment related requirements privately, face to face and/or in written form with the course coordinator, lecturer or tutor.

Student Disability Services also provides support for students with a wide range of impairments, both visible and invisible, to succeed and excel at the University. For more information and contact details, please visit the Student Disability Services’ website http://disability.auckland.ac.nz

Special Circumstances

If your ability to complete assessed coursework is affected by illness or other personal circumstances outside of your control, contact a member of teaching staff as soon as possible before the assessment is due.

If your personal circumstances significantly affect your performance, or preparation, for an exam or eligible written test, refer to the University’s aegrotat or compassionate consideration page https://www.auckland.ac.nz/en/students/academic-information/exams-and-final-results/during-exams/aegrotat-and-compassionate-consideration.html.

This should be done as soon as possible and no later than seven days after the affected test or exam date.

Learning Continuity

In the event of an unexpected disruption, we undertake to maintain the continuity and standard of teaching and learning in all your courses throughout the year. If there are unexpected disruptions the University has contingency plans to ensure that access to your course continues and course assessment continues to meet the principles of the University’s assessment policy. Some adjustments may need to be made in emergencies. You will be kept fully informed by your course co-ordinator/director, and if disruption occurs you should refer to the university website for information about how to proceed.

Student Charter and Responsibilities

The Student Charter assumes and acknowledges that students are active participants in the learning process and that they have responsibilities to the institution and the international community of scholars. The University expects that students will act at all times in a way that demonstrates respect for the rights of other students and staff so that the learning environment is both safe and productive. For further information visit Student Charter https://www.auckland.ac.nz/en/students/forms-policies-and-guidelines/student-policies-and-guidelines/student-charter.html.

Disclaimer

Elements of this outline may be subject to change. The latest information about the course will be available for enrolled students in Canvas.

In this course students may be asked to submit coursework assessments digitally. The University reserves the right to conduct scheduled tests and examinations for this course online or through the use of computers or other electronic devices. Where tests or examinations are conducted online remote invigilation arrangements may be used. In exceptional circumstances changes to elements of this course may be necessary at short notice. Students enrolled in this course will be informed of any such changes and the reasons for them, as soon as possible, through Canvas.

Published on 09/11/2021 10:16 p.m.