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Topics in macroeconomics provides students with an up-to-date account of the theory and practice of modern macroeconomics. Areas that have shaped modern macroeconomic research will be covered: real business cycle theory, endogenous growth theory. Other selected topics on fiscal and monetary policy will also be discussed.
Topics in macroeconomics provides students with an up-to-date account of the theory and practice of modern macroeconomics. Areas that have shaped modern macroeconomic research will be covered: real business cycle theory, endogenous growth theory. Other selected topics on fiscal and monetary policy will also be discussed.
Topics in macroeconomics provides students with an up-to-date account of the theory and practice of modern macroeconomics. Areas that have shaped modern macroeconomic research will be covered: real business cycle theory, endogenous growth theory. Other selected topics on fiscal and monetary policy will also be discussed.
School of Economics and Finance ECON0109/ECON3229 Topics in Macroeconomics
GENERAL INFORMATION
Instructor: Chi-Wa Yuen
Email: cwyuen@hku.hk Office: KK927 Phone: 2859-1051 Consultation times: TBA Lecture time and venue: Semester 1, Friday 14:30 17:20 in KKLG107
Tutor: TBA
Pre-requisites: ECON2101/ ECON2210 Intermediate microeconomics or ECON2113/ECON2223 Microeconomic analysis; and ECON2102/ ECON2220 Intermediate macroeconomics or ECON2114/ECON2221 Macroeconomic analysis
Co-requisites: NA Mutually exclusive: NA
Course Website: Moodle
Other important details: NA
COURSE DESCRIPTION
This course provides students with an up-to-date account of the theory and practice of modern macroeconomics. The following areas that have shaped modern macroeconomic research will be covered: real business cycle theory, endogenous growth theory, and new Keynesian theories of labour markets, asset markets and sticky prices. Other selected topics on fiscal and monetary policy will also be discussed.
COURSE OBJECTIVES 1. Acquisition and internalization of knowledge of macroeconomics - to learn concepts and theories of macroeconomics; - to develop skills and intuition for analysis of the macroeconomy. 2. Application and integration of knowledge - to identify major macro issues and real-world problems; - to develop the capacity to gather, process, and analyze macro data and other information about the macroeconomy; - to apply relevant models to make macro forecasts and policy recommendations; and - to identify viable alternatives in making micro-level decisions by taking explicit account of macro factors.
CLO1 Acquisition and internalization of knowledge of macroeconomics CLO2 Application and integration of knowledge PLO1, PLO2
PLO4, PLO5, PLO6
COURSE TEACHING AND LEARNING ACTIVITIES Course Teaching and Learning Activities Expected contact hour Study Load (% of study)
T&L1. Lectures T&L2. Tutorials T&L3. Self study
36 hours 12 hours 72 hours
35% 15% 50% Total 120 hours 100%
Assessment Methods Brief Description (Optional) Weight Aligned Course Learning Outcomes A1. Midterm A2. Term paper A3. Final exam
30% 30% 40% CLO1, CLO2 CLO1, CLO2 CLO1, CLO2
Total 100% CLO1, CLO2
STANDARDS FOR ASSESSMENT Course Grade Descriptors A+, A, A Candidate has consistently demonstrated a thorough grasp of the subject as evidenced by original or exceptionally astute analysis and synthesis, critical interpretation and presentation of principles, concepts and arguments presented within this course. B+, B, B- Candidate frequently demonstrated a substantial grasp of the subject as evidenced by an astute analysis and synthesis, critical interpretation and presentation of principles, concepts and arguments presented within this course. C+, C, C- Candidate has occasionally demonstrated a general grasp of the subject as evidenced by some analysis and synthesis, critical interpretation and presentation of principles, concepts and arguments presented within this course. D+, D Candidate has demonstrated a partial grasp of the subject as evidenced by little analysis and synthesis, critical interpretation and presentation of principles, concepts and arguments presented within this course. F Candidate has demonstrated a poor grasp of the subject with evidence of largely inaccurate understandings of principles, concepts and arguments presented within this course.
Assessment Rubrics for Each Assessment (Please provide us the details in a separate file if the space here is not enough) Assessment Rubrics for Midterm, Term paper, and Final Exam are the same as in course grade descriptors Midterm Open books, open notes Term paper 15-20 pages (excluding tables and graphs) Final Exam Open books, open notes
COURSE CONTENT AND TENTATIVE TEACHING SCHEDULE
We shall try to cover as many of the following topics (not necessarily in the same order) as time permits. Construction of basic DSGE model [about 3 weeks] Applications o Business cycles [about 2 weeks] o Financial crises [about 5 weeks] o Macro-prudential policies [about 2 weeks]
There is no required text. Lectures will be based on my own notes and some book chapters and papers (reading list to be posted on Moodle at a later stage). The following books are recommended for general reference.
Allen, Franklin, and Douglas Gale, Understanding Financial Crises, Oxford University Press, 2007. Blanchard, Olivier J ., and David R. J ohnson, Macroeconomics, 6/e, Pearson, 2003. Romer, David, Advanced Macroeconomics, 4/e, McGraw Hill, 2011.
MEANS/PROCESSES FOR STUDENT FEEDBACK ON COURSE o Conducting mid-term survey in addition to SETL around the end of the semester o Online response via Moodle site o Others: communication via Facebook COURSE POLICY (e.g. plagiarism, academic honesty, attendance, etc.)
The use of mobile phones and any devices that may cause disturbance to anyone is strictly prohibited. Those found violating this rule would be invited to leave the lecture room immediately. Cheating in exams is a "crime" under University Regulations. Students found cheating would be subject to severe punishment. Plagiarism and copying of copyright materials are serious offences and may lead to disciplinary actions. You should read the chapters on "Plagiarism" and "Copyright" in the Undergraduate/Postgraduate Handbook for details. You are strongly advised to read the booklet entitled, What is Plagiarism?, distributed to you upon your admission into the University, a copy of which can be found at www.hku.hk/plagiarism. A booklet entitled, Plagiarism and How to Avoid it, is also available from the Main Library.
ADDITIONAL COURSE INFORMATION (e.g. e-learning platforms & materials, penalty for late assignments, etc.)
No make-up term tests. If you fail to show up in these tests, their weights will automatically be shifted to the final.