School of Accounting, Economics and Finance

ECON205: Macroeconomic Theory and Policy

Subject Outline

Subject Information
Session 1, 2019
Offshore campus, INTI INTERNATIONAL COLLEGE SUBANG

Lecture Information:
will be confirmed later

Pre-requisites: ECON 100 OR ECON101

Co-requisites: N/A
Restrictions: None
Contact Hours: 3 hours Lecture + 1 hour Tutorial
Subject Material:
Lecture slides, articles and other relevant documentations

Teaching Staff
Teaching Role Coordinator, Lecturer and Tutor
Name Sanmugam Annamalah
Telephone
Email Sanmugam_1@yahoo.com
Room
Consultation Times To be confirmed later

ECON205 Macroeconomic Theory and Policy Session 1, 2018 Page 1 of 15

Email Etiquette: Consultation with your subject coordinator and/or teachers via email
Your teachers receive many emails each day. In order to enable them to respond to your emails appropriately
and in a timely fashion, students are asked to observe basic requirements of professional communication:

Consider what the communication is about

 Is your question addressed elsewhere (e.g. in this subject outline or, where applicable, on the subject's
eLearning site)?
 Is it something that is better discussed in person or by telephone? This may be the case if your query
requires a lengthy response or a dialogue in order to address. If so, see consultation times above and/or
schedule an appointment.
 Are you addressing your request to the most appropriate person?

Specific email title/ header to enable easy identification of subject related/ student emails

 Identify the subject code of the subject you are enquiring about (as your teacher may be involved in
more than one subject) in the email header. Add a brief, specific header after the subject code where
appropriate

Professional courtesy

 Address your teacher appropriately by name (and formal title if you do not yet know them).
 Use full words (avoid 'text-speak' abbreviations), correct grammar and correct spelling.
 Be respectful and courteous.
 Academics will normally respond within 1-2 business days. If the matter is urgent, you may wish to
telephone the teaching staff whose contact details are given in this subject outline or contacting the
School.
 Please ensure that you include your full name and identify your seminar or tutorial group in your email
so that your teachers know who they are communicating with and can follow-up personally where
appropriate.

A guide to eLearning 'Netiquette' is available at

https://www.uow.edu.au/student/elearning/netiquette/index.html. The basic principles of Netiquette also apply
to email communication.

Copyright
Commonwealth of Australia

Copyright Regulations 1969

© 2017 University of Wollongong

The original material prepared for this guide is covered by copyright. Apart from fair dealing for the purposes of
private study, research, criticism or review, as permitted under the Copyright Act, no part may be reproduced by
any process without written permission.

ECON205 Macroeconomic Theory and Policy Session 1, 2018 Page 2 of 15

Table of Contents

Section A: General Information .......................................................................................................................... 4

Learning Outcomes ............................................................................................................................................ 4
Course Learning Outcomes ........................................................................................................................... 4
Student Learning Outcomes .......................................................................................................................... 4
Subject Description ....................................................................................................................................... 4
Readings, References and Materials .................................................................................................................. 4
Major Text(s) ................................................................................................................................................ 4
Key References ............................................................................................................................................. 4
Lectures, Tutorials and Attendance Requirements ............................................................................................ 5
Lecture Times * ............................................................................................................................................ 5
Lecture Program * ......................................................................................................................................... 5
Tutorial/Seminar/Workshop Times ............................................................................................................... 6
Tutorial/Seminar/Workshop Program ........................................................................................................... 6
Attendance Requirements .................................................................................................................................. 6
Updates to Subject ............................................................................................................................................. 7
Extraordinary Changes to the Subject Outline ................................................................................................... 7
Section B: Assessment .......................................................................................................................................... 7
Assessment Summary ........................................................................................................................................ 7
UOW Grade Descriptors ............................................................................................................................. 10
Assessment Learning Outcome Matrix ............................................................................................................ 10
Minimum Performance Requirements ............................................................................................................. 11
Types of Assessment and Collaboration .......................................................................................................... 11
Submission, Retention and Collection of Written Assessment ........................................................................ 12
Submitting Assessment Tasks ..................................................................................................................... 12
Extensions ................................................................................................................................................... 12
Faxing, Posting and Emailing Assessment Work ....................................................................................... 12
Late Submission of Assessment Tasks........................................................................................................ 12
Collection .................................................................................................................................................... 12
Data Retention and Use ............................................................................................................................... 12
Scaling ............................................................................................................................................................. 13
Supplementary Assessment ............................................................................................................................. 13
Student Complaints Policy ............................................................................................................................... 13
Assessment Quality Cycle ............................................................................................................................... 13
Assurance of Learning (What will students learn in their degree?) ................................................................. 13
Academic Integrity and Plagiarism .................................................................................................................. 14
Plagiarism Prevention ................................................................................................................................. 14
Referencing ...................................................................................................................................................... 14
Why do you need to reference? ................................................................................................................... 14
The Harvard System of Referencing ........................................................................................................... 15
Citation of Internet Sources ........................................................................................................................ 15
Section C: General Advice for Students ........................................................................................................... 15

ECON205 Macroeconomic Theory and Policy Session 1, 2018 Page 3 of 15

Section A: General Information
Learning Outcomes

Course Learning Outcomes

Course Learning Outcomes can be found in the Course Handbook

https://www.uow.edu.au/handbook/yr2017/index.html.

Student Learning Outcomes

On successful completion of this subject, students will be able to:

1. Identify the important determinants of real output, interest rates, exchange rates, prices and
employment for a small open economy.
2. Analyse monetary and fiscal policies and be able to evaluate their effectiveness.
3. Analyse the problems associated with inflation and unemployment.
4. Understand explanations of economic growth and policy prescriptions.

Subject Description

This subject analyses the major factors which determine economic behaviour in the aggregate and evaluate how
alternative macroeconomic policies may improve economic performance. In doing so the course examines the
major determinants of aggregate demand equilibrium, namely consumption and investment demands,
international factors, money and interest. Monetary and fiscal policies are examined using this analytic structure
to determine the effectiveness of these policies for an open economy. Aggregate supply equilibrium is analysed
in terms of wages, prices and employment. The problems of inflation and employment are also considered along
with possible wages policies. Longer term explanations of economic growth and associated policy prescriptions
are also considered.

Readings, References and Materials

Major Text(s)

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

Key References

Blanchard, O. and Sheen, J., (2013), Macroeconomics: Australasian Edition, 4th ed. Melbourne: Pearson
Australia.

Dornbusch, R., Bodman, P., Fischer, S. and Startz, R. (2013), Macroeconomics: Australasian Edition. 3rd ed.
Sydney: McGraw Hill Australia

Mishkin, F.S. (2014), Macroeconimcs: Policy and Practice - Global Edition. 2nd ed. Boston: Pearson

ECON205 Macroeconomic Theory and Policy Session 1, 2018 Page 4 of 15

Lectures, Tutorials and Attendance Requirements

Lecture Times *

To be confirmed later

Lecture Program *

Topics Covered Readings

An Introduction to Macroeconomics
1 Blanchard, Chapters 1, 2
National Income Accounting and Prices
2 The Goods Market - Income and Spending Blanchard,, Chapter 3
Goods and Financial Markets;
3 Blanchard, Chapter 5
The IS-LM Model
Financial Markets II: The
4 Blanchard, Chapter 6
Extended IS-LM Model
5 Monetary Policy Blanchard, Chapter 16 &23
6 Fiscal Policy Blanchard, Chapters 22
7 Openness in Good & Financial Market Blanchard, Chapters 17
8 Mid-session test
9 The Goods Market in an Open Economy Blanchard, Chapters 18

Technological Progress
10 Blanchard, Chapters 12
and Growth
The Phillips Curve, the Natural
11 Blanchard, Chapters 8
Rate of Unemployment
12 Big Issue: Inflation Blanchard, Chapters 23
Revision and Review Lecture (Comments and
13 Relevant notes
Feedback)
Revision
Final examination

* The above times and program may be subject to change. Students will be notified of any change via SOLS.

ECON205 Macroeconomic Theory and Policy Session 1, 2018 Page 5 of 15

Tutorial/Seminar/Workshop Times

Details about the sessions will be updated through Moodle system.

Tutorial/Seminar/Workshop Program

Topics Covered Readings and Activities

1 No tutorial
An Introduction to
Macroeconomics Discussion of tutorial 1 homework questions which are
2
National Income Accounting available from the subject Moodle site
and Prices
The Goods Market - Income Discussion of tutorial 2 homework questions which are
3
and Spending available from the subject Moodle site
Goods and Financial Markets; Discussion of tutorial 3 homework questions which are
4
The IS-LM Model available from the subject Moodle site
Financial Markets II: The Discussion of tutorial 4 homework questions which are
5
Extended IS-LM Model available from the subject Moodle site
Discussion of tutorial 5 homework questions which are
6 Monetary Policy
available from the subject Moodle site
Discussion of tutorial 6 homework questions which are
7 Fiscal Policy
available from the subject Moodle site
Openness in Good & Financial Discussion of tutorial 7 homework questions which are
8
Market available from the subject Moodle site
The Goods Market in an Open Discussion of tutorial 8 homework questions which are
9
Economy available from the subject Moodle site
10 No tutorials
Technological Progress Discussion of tutorial 9 homework questions which are
11
and Growth available from the subject Moodle site
The Phillips Curve, the Natural Discussion of tutorial 10 homework questions which are
12
Rate of Unemployment available from the subject Moodle site
Discussion of tutorial 11 homework questions which are
13 Big Issue: Inflation
available from the subject Moodle site
Revision
Final examination

The above program may be subject to change.

Attendance Requirements

The Faculty expects all students to attend lectures and tutorials as we strongly believe that students who attend
lectures and tutorials usually learn more and perform better in assignments and examinations.

ECON205 Macroeconomic Theory and Policy Session 1, 2018 Page 6 of 15

Updates to Subject

The School is committed to continual improvement in teaching and learning. In assessing teaching and learning
practices in a subject, the School takes into consideration student feedback from many sources. These sources
include direct student feedback to tutors and lecturers, feedback through Student Services and Business Central,
and responses to the Subject and Course Evaluation Surveys. These important student responses, along with
University policies and Faculty practices inform ongoing changes to subjects and courses. This information is
also used to inform systemic comprehensive reviews of subjects and courses.

While every effort is made to keep the subject database current, students may find that occasionally, the
assessment information in the subject outline differs from the information on the subject database. In such
instances, the Subject Coordinator will make appropriate announcements in the first class of the session.

Extraordinary Changes to the Subject Outline

In extraordinary circumstances the provisions stipulated in this Subject Outline may require amendment after
the Subject Outline has been distributed. All students enrolled in the subject must be notified and have the
opportunity to provide feedback in relation to the proposed amendment, prior to the amendment being finalised.

Section B: Assessment
Assessment Summary

Assessment Item Form of Assessment %

Assessment 1 Tutorial/Lab tasks 10%
Assessment 2 In session tests 20%
Assessment 3 Final exam 50%
Assessment 4 Essay 20%
TOTAL MARKS 100%

Assessment 1: Tutorial/Lab tasks - Assessment 1

Marking Criteria Marking Criteria

Students will be required to write out their answer to the selected question in
the selected tutorial. Student's answers will be assessed according to their
demonstrated:

 understanding of economic concepts

 ability to explain and apply economic principles
 capacity to succinctly answer the question
 ability to argue clearly and logically.

Students will not be allowed to copy the answer to the question from notes.
Length 12-15 minutes
Weighting 10%
Assessment Due To Be Announced
Type of Collaboration Individual assessment
Style and format Problem solving and short answer questions selected from the assigned

ECON205 Macroeconomic Theory and Policy Session 1, 2018 Page 7 of 15


Assessment submission
Assessment return
Detailed information
Assessment 2: In session tests - Assessment 2
Marking Criteria
Length
Weighting
Assessment Due
Type of Collaboration
Style and format
Assessment submission
Assessment return
Detailed information
ECON205 Macroeconomic Theory and Policy
tutorial questions.
The answer will be collected by the tutor during the tutorial in which the test
is held.
The marked answer will be returned in the next tutorial class.
Students will receive feedback to one of the tutorial tests by Week 4 (census
date).
The best two of three tutorial tests will count (2 highest marks @5% each).
There will be NO SUPPLEMENTARY test for missed
tutorial test.
Students will need to answer one or more questions, which will be selected
from the assigned tutorial questions for three tutorials.
The selected question(s) may vary across tutorials.
The tests will be held in three tutorials, which will be selected any time in
weeks 3, 5, 6, 9, 11, and 12 of term.
Students will have no prior warning of the questions selected and when the
test will be held.
This requires students to prepare written answers for all assigned tutorial
questions.
The tests will be closed book and students will not be allowed to copy the
answer from notes.
Students' answers will be assessed according to their demonstrated:
 understanding of economic concepts
 ability to explain and apply economic principles
100 minutes
20%
04 Sep 2018 (In lecture in Session Week 7)
Individual assessment
The test will be held in the lecture theatre during the lecture time.
The test of 100 minutes duration will comprise of 50 multiple choice
questions.
Material presented in lectures and tutorials in weeks 1 to 6 will be tested.
In class
Results with be released by Week 10 of the semester.
The test will be held in the lecture theatre during lecture time.
The test of 100 minutes duration will comprise of 50 multiple choice
questions.
No marks will be subtracted for an incorrect answer.
Material presented in the lectures and tutorials in weeks 1 to 6 will be tested.
Session 1, 2018 Page 8 of 15
Assessment 3: Final exam - Assessment 3
Marking Criteria
Length
Weighting
Assessment Due
Type of Collaboration
Style and format
Assessment submission
Assessment return
Detailed information
Assessment 4: Essay - Assessment 4
Marking Criteria
Length
Weighting
Assessment Due
Type of Collaboration
Style and format
Assessment submission
Assessment return
Detailed information
ECON205 Macroeconomic Theory and Policy
Student's answers will be assessed according to their demonstrated:
 understanding of economic concepts
 ability to apply economic principles
 capacity to succinctly answer the question
 ability to argue clearly and logically
3 hours
50%
To Be Announced
Individual assessment
Students are required to answer essay/problem solving questions.
Material presented in lectures and tutorials in Weeks 6 to 13 will be tested.
Examination hall.
N/A
The final examination will be held during the formal examination period.
The date will be confirmed during the course of the subject and published on
SOL 3 to 4 weeks before the examination period.
Material presented in lectures and tutorials in Weeks 6 to 13 will be tested.
Marks will be allocated on the following:
1. Critical analysis: 60%
2. Research depth: 20%
3. Presentation: 20%
More information will be provided via Moodle.
2000 words maximum.
20%
25 Sep 2018 (In lecture in Session Week 10)
Individual assessment
Format: Essay
Paper size: A4; Font type: Times New Roman; Font size: 12 pt.
Please include the following information:Name, Student ID, Tutorial Group in
the Cover-Sheet.
To the lecturer in the lecture in Week 10 of term.
In the lecture/tutorial class in Week 13.
Details of the individual assignment/task will be up loaded in Moodle and also
announced during lecture.
Session 1, 2018 Page 9 of 15
UOW Grade Descriptors

The UOW Grade Descriptors are general statements that communicate what our grades represent, in terms of
standards of performance, and provide a frame of reference to ensure that assessment practice across the
University is appropriate, consistent and fair. Grade Descriptors are expressed in general terms so that they are
applicable to a broad range of disciplines. For more information on the UOW grade descriptors see:
https://www.uow.edu.au/curriculum-transformation/aqc/uowgradedescriptors/index.html

Assessment Learning Outcome Matrix

Measures - Assessment weighting

Mid-
In session Policy Final
session
Learning Outcomes quizzes game exam
exam

(20%) (25%) (10%) (45%)

Identify the important determinants of real output, interest rates,
exchange rates, prices and employment for a small open economy. ✔ ✔

Analyse monetary and fiscal policies and be able to evaluate their

effectiveness. ✔ ✔ ✔ ✔

Analyse the problems associated with inflation and

unemployment. ✔ ✔ ✔ ✔

Understand explanations of economic growth and policy

prescriptions. ✔ ✔

ECON205 Macroeconomic Theory and Policy Session 1, 2018 Page 10 of 15

Minimum Performance Requirements

To be eligible to pass this subject, students must complete all assessment tasks for this subject. In addition, you
must achieve a total mark of 50% or over and obtain a minimum of 50% in the final examination or major piece
of assessment (where there is no final exam). Students who do not meet these minimum performance level
requirements will be given a Fail grade (F) on their Academic Transcript, in accordance with the General
Course Rules.

Where a student gains a mark of 50 or greater and does not meet the specified level in an assessment task
required to pass the subject a Technical Fail (TF) grade will be given. Where a Technical Fail is given the
following applies:

a. Failure of the subject;

b. a TF without a mark will be granted;
c. a TF will be presented on the student's academic transcript;
d. The allocated mark of 49 will be used as the WAM calculation for subjects at all levels.

Failure to complete all assessment tasks will normally result in failure of the entire subject, other marks
notwithstanding.

Students should note that UOW policy equates 1 credit point with 2 hours of study per week that includes
lectures and tutorials/workshops/practical. For example, in a 6 credit point subject, a total of 12 hours of study
per week is expected.

Students who fail a subject may be eligible for a supplementary exam depending on the final mark obtained for
the subject and the final exam mark, or for other extenuating circumstances as approved by the relevant Head of
School and Faculty Assessment Committee in line with University of Wollongong and Faculty of Business
guidelines. Students who believe they may be eligible, and who have not already been advised accordingly,
should consult their lecturer or subject coordinator.

Types of Assessment and Collaboration

Collaboration between students during the preparation of subject assessment tasks or case studies is only
permitted dependent upon the category of assessment task declared by the subject coordinator and as printed in
the Subject Outline.

Type 1 - Take home exams: No collaboration of any kind is permitted between students or anyone else during
formation and preparation of the contents of the student submission.

Type 2 - Group work: Collaboration is permitted between students in the same group but not with students in
other groups.

Type 3 - Individual assessment: Collaboration is permitted between students only in the form of general
discussion pertaining to relevant concepts or potential issues to be dealt with in completing the assessment.
However, collaboration must not proceed to the point where it contributes directly to the final submission
produced by the student. Joint planning of the actual contents of a student's submission is not permitted. Where
the assessment requires formulation of a set of recommendations, a problem solution, or a specific course of
action, collaboration is not permitted during their formulation. Needless to say, collaboration is not permitted
during the actual preparation and writing of the student submission.

Type 4 - Open assessment: Collaboration with other students is permitted, subject to the normal rules governing
plagiarism. That is, direct use of ideas contributed by others must be acknowledged.

Type 5 - Individual assessment and group work: Collaboration is permitted with other members of your group,
but not with other groups for the group work component. No collaboration is permitted with other members of
your group for the individual component.

ECON205 Macroeconomic Theory and Policy Session 1, 2018 Page 11 of 15

Submission, Retention and Collection of Written Assessment

Assessed work must be handed in by the date and time listed under each assessment task. All assessment tasks
must represent the enrolled student's own ORIGINAL work and must not have been previously submitted for
assessment in any formal course of study.

If a student does not attend a required in-session test/examination, and also fails to produce satisfactory medical
or other reasons for this (See Section C: General Advice for Students), a deferred examination will NOT be
offered, and the student may be deemed to have failed the subject, other marks notwithstanding.

Submitting Assessment Tasks

Students are required to submit original work which will provide a basis for the certification of competence in
this subject. These assessments may include: examinations, tests, take-home examinations, quizzes,
assignments, essays, laboratory reports, demonstrations, folio of creative works, performances, tutorial
presentation and participation.

Extensions

Extensions of time to submit material for assessment can only be requested in advance of the due date for an
assessment activity through the Academic Consideration process on SOLS. For more information, please refer
to the Student Academic Consideration Policy.

A Faculty assignment cover sheet must be attached to each piece of written assessment task. Students should
ensure they receive a receipt of submission and retain this for proof of submission.

Faxing, Posting and Emailing Assessment Work

Students may not e-mail, post or fax assessment tasks unless specifically requested by or with the prior approval
of the subject coordinator.

Late Submission of Assessment Tasks

Assessed work submitted late will be penalised by the deduction of 10 percent of the maximum possible mark
for that assessment per working day or part thereof. The operation of this rule will not result in a negative mark
being carried forward.

This penalty for late submission may be waived upon presentation of a medical certificate of illness for a
relevant period, or upon evidence of untoward or approved circumstances that fall under the Student Academic
Consideration Policy (See Section C: General Advice for Students).

Collection

Assessment items will normally be returned to students within three (3) weeks of the due date. Assessment tasks
which are relevant to the final examination for the subject will be marked and available for collection prior to
the study week before the final examination.

Data Retention and Use

The Faculty of Business will retain appropriate records in line with the State Records Act 1998 (NSW), other
relevant legislation, standards and University of Wollongong policies.

Data on student performance and engagement (such as Moodle and University Library usage, task marks, use of
SOLS) will be available to the Subject Coordinator to assist in analysing student engagement, and to identify
and recommend support to students who may be at risk of failure. If you have questions about the kinds of data
the University uses, how we collect it, and how we protect your privacy in the use of this data, please refer to
https://www.uow.edu.au/dvca/bala/analytics/index.html

ECON205 Macroeconomic Theory and Policy Session 1, 2018 Page 12 of 15

Please note: Copies of student work may be retained by the University in order to facilitate quality assurance of
assessment processes.

Scaling

Marks awarded for any assessment task or part of any assessment task, including an examination may be subject
to scaling at the end of the session. Marks will be scaled only when unpredicted circumstances occur and in
order to ensure fairness of marking across groups of students. The method of scaling will depend on the type of
scaling required by the circumstances. When scaling is deemed necessary, it will follow a detailed consideration
by the Unit Assessment Committee and/or the Faculty Assessment Committee of the marks of the group of
students concerned. Scaling will not affect any individual student's rank order within their cohort.

Supplementary Assessment

Supplementary assessment may be offered to students whose performance in this subject is close to that required
to pass the subject, and are otherwise identified as meriting an offer of a supplementary assessment. The Subject
Coordinator will determine the precise form of supplementary assessment at the time the offer of a
supplementary is made. In some circumstances you may be offered a supplementary exam.

Student Complaints Policy

In accordance with the Coursework Student Academic Complaints Policy, a student may request an explanation
of a mark for an assessment task or a final grade for a subject consistent with the student's right to appropriate
and useful feedback on their performance in an assessment task.

Assessment Quality Cycle

The University of Wollongong is committed to the quality assurance and quality enhancement of assessment.
The University will meet its legislative and regulatory obligations, to ensure consistent and appropriate
assessment through course management and coordination, including assessment quality assurance procedures.
An Assessment Quality Cycle is used to describe quality assurance at the points of assessment design,
assessment delivery, the declaration of marks and grades, and review and improvement activities.

Assurance of Learning (What will students learn in their degree?)

The Faculty of Business ensures each degree has specified course learning outcomes which assure that students
attain knowledge, skills and competencies at the appropriate qualification level. These course learning outcomes
align with the curriculum. These are evaluated through existing assessment tasks within subjects.
The Faculty uses Assurance of Learning (AOL) to assess how students meet the specified course learning
outcomes and how well our graduates have achieved these. AOL collects and analyses student results data to
continuously improve degrees offered by the Faculty which leads to improved student learning.

ECON205 Macroeconomic Theory and Policy Session 1, 2018 Page 13 of 15

Academic Integrity and Plagiarism

The University's Academic Integrity and Plagiarism Policy, faculty handbooks and subject guides clearly set out
the University's expectation that students submit only their own original work for assessment and avoid
plagiarising the work of others or cheating. Re-using any of your own work (either in part or in full) which you
have submitted previously for assessment is not permitted without appropriate acknowledgement. Plagiarism
can be detected and has led to students being expelled from the University.

The use by students of any website that provides access to essays or other assessment items (sometimes
marketed as 'resources'), is extremely unwise. Students who provide an assessment item (or provide access to an
assessment item) to others, either directly or indirectly (for example by uploading an assessment item to a
website) are considered by the university to be intentionally or recklessly helping other students to cheat.
Uploading an assessment task, subject outline or other course materials without express permission of the
University is considered academic misconduct and students place themselves at risk of being expelled from the
University.

Plagiarism Prevention

The Faculty of Business has introduced an e-learning module which aims to orientate you with the knowledge
and resources to:

 avoid problems related to plagiarism

 develop your capacity to integrate evidence into your arguments
 reference correctly.

The online module is openly available for use by students at any stage in their degree. You are strongly
encouraged to use the module to help in assessing the academic integrity of your written work. The module can
be accessed via https://moodle.uowplatform.edu.au/course/view.php?id=5679

Referencing

Why do you need to reference?

At university it is necessary to acknowledge the sources of information and ideas that you have incorporated in
your assessment tasks. Failure to do this thoroughly may result in accusations of plagiarism: this is the academic
equivalent of stealing (because by not acknowledging someone else's work, you are presenting it as your own).
Plagiarism is taken very seriously by the University and may result in expulsion from the University.

Referencing is not only about acknowledging other people's work; accurate referencing and lists of references
are beneficial when researching a topic as they allow the reader to follow up information and read further in the
area. In a sense, references provide readers with clues to help them explore different avenues of a topic. This
aspect of referencing will become more valuable to you as you progress in your studies.

There is a correct procedure that must be followed when referencing and using footnotes. Not complying with
these set techniques and format will most likely result in loss of marks. When writing an essay it is easiest to
reference as you go, making sure you are writing down all relevant information. This will save hours trying to
find the source again in the library.

ECON205 Macroeconomic Theory and Policy Session 1, 2018 Page 14 of 15

The Harvard System of Referencing

The Faculty of Business uses the Harvard system of referencing. This system makes use of short references
within the body of the text. It is supplemented by a detailed list of references at the end of the text, which
provides all the information necessary to find the source material. In-text references include the author and year
of publication, and where necessary the page number(s).

It is the responsibility of students to ensure that they are familiar with the Harvard system of referencing and
that they use it accurately in all written work submitted.

Citation of Internet Sources

It is necessary for students to reference all sources used in their written work, including file transfer protocol
sites, worldwide web sites, telnet sites, synchronous communications (MOOs, MUDs, IRC, etc.) GOPHER
sites, and email, Listserv and Newsgroup citations.

It is the responsibility of students to ensure that they are familiar with the accepted Faculty of Business practice
for referencing electronic material and that they use it accurately in all written work submitted.

Section C: General Advice for Students

For general information on university policies and procedures relevant to students, and for details about the
range of student services available, please refer to Centre for UOW Program.

ECON205 Macroeconomic Theory and Policy Session 1, 2018 Page 15 of 15