SCOPE OF COURSE SYLLABUS
Intended for students enrolling in Advanced Macroeconomics, this syllabus contains information specific to the course. It is a definitive record of the course's primary characteristics and the learning outcomes that a typical student can reasonably be expected to achieve if they take full advantage of the available learning opportunities. This document also serves as a reference for academic and support staff, internal and external examiners, and for future course monitoring and review.
COURSE AT A GLANCE
Competency in College Algebra and Advanced Calculus
ECON 51011 or equivalent
MGMT 51051 or equivalent
ECON 61041 or equivalent
Methods of Delivery
To be determined
To be determined
Computer Software: Any computer software that aids learning.
Text 1: AM
Title: Advanced Macroeconomics
Author(s): David Romer
This course aims to provide an introduction to the frontier tools used to understand the dynamics of economic aggregates. We will study the determinants of consumption, the real business cycle model, and the search and matching theory of unemployment. Next, we will discuss the issue of nominal rigidities to understand the real effects of monetary policy and how it should be implemented optimally. We will also study topics that have received particular interest recently, such as the problem of the zero lower bound and unconventional monetary policy. The course will conclude with an analysis of fiscal policy conduct and the economic aggregates' implications. Methodologically, the course will focus on the models required to discuss these issues. However, it will also present empirical evidence about these models' predictions.
The course is organized around two themes—economic growth and economic fluctuations.
Upon completion of the course, students are expected to be able to:
Explain the central theoretical and empirical implications of the Solow growth model.
Explain the differences that arise when the savings decision is endogenized in the Solow model.
Identify the determinants of per capita income and per capita income growth variations.
Identify the characteristics of the modern business cycle and the alternative theoretical approaches that are used to understand these characteristics.
Articulate nominal rigidities' role in determining aggregate output and employment.
Explain the role that individual behavior and expectations play in assessing the impacts of monetary and fiscal policy.
The Solow Growth Model
Reference(s): AM Ch1
Infinite-Horizon and Overlapping-Generations Models
Reference(s): AM Ch2
Reference(s): AM Ch3
Cross-Country Income Differences
Reference(s): AM Ch4
Reference(s): AM Ch5
Reference(s): AM Ch6
Dynamic Stochastic General-Equilibrium Models of Fluctuations
Reference(s): AM Ch7
Reference(s): AM Ch8
Reference(s): AM Ch9
Financial Markets and Financial Crises
Reference(s): AM Ch10
Reference(s): AM Ch11
Reference(s): AM Ch12
Budget Deficits and Fiscal Policy
Reference(s): AM Ch13
DEADLINE: 23:59 (GMT+0) on Sunday of Week 7
All students must participate actively in discussions, class exercises, activities, simulations, and group work. Regular attendance, preparation, and participation in class discussions (online and in discussion forums) are required—good attendance results in more opportunities to engage in quality participation and earn a higher participation grade.
Class participation and discussion indicate that students have read the assigned readings. Grades will not be based on the number of posts submitted or comments made in a class but on the overall contribution to the discussion. Students are encouraged to exchange contact information and support one another if a class is missed. They must contact the course instructor if concerned about attendance or need additional information on any assignment. If a student cannot attend three or more classes, they may be asked to complete additional assignments to complete a course.
DEADLINE: 23:59 (GMT+0) on Sunday of Week 1-5
Each week from Week 1 to Week 5, students must complete one graded quiz with ten (10) multiple-choice questions. These assessments aim to determine the level of comprehension and mastery of the material covered each week from Week 1 to Week 5. The deadline to submit this assessment is always on Sunday at 23:59 (GMT+0) each week from Week 1 to Week 5. Quiz assignments are graded by computer, and the grade is stored in the online grade book. Only one 20-minute attempt per quiz is allowed.
END-OF-BLOCK QUIZ 1
Deadline: 23:59 (GMT+0) on Sunday of Week 1
END-OF-BLOCK QUIZ 2
Deadline: 23:59 (GMT+0) on Sunday of Week 2
END-OF-BLOCK QUIZ 3
Deadline: 23:59 (GMT+0) on Sunday of Week 3
END-OF-BLOCK QUIZ 4
Deadline: 23:59 (GMT+0) on Sunday of Week 4
END-OF-BLOCK QUIZ 4
Deadline: 23:59 (GMT+0) on Sunday of Week 5
DEADLINE: 23:59 (GMT+0) on Sunday of Week 7
In Week 7, students must complete one graded quiz consisting of thirty (30) multiple-choice questions. This assessment aims to determine the level of comprehension and mastery of the material covered over seven weeks. The deadline to submit this assessment is always on Sunday at 23:59 (Greenwich Meantime GMT+0) of Week 7. Quiz assignments are graded by computer, and the grade is stored in the online grade book. Only one 60-minute attempt per quiz is allowed.
DEADLINE: Sunday at 23:59 (GMT+0) of Week 7
This must be twelve pages (approximately three thousand words) not including references, title page, and appendix. The purpose of this assessment is to determine the level of comprehension and mastery of the material covered over five weeks, focusing on the practical aspects of the course. The deadline to submit this assessment is always on Sunday at 23:59 (GMT+0) of Week 7. The grade is stored in the online grade book. As only one attempt per piece of coursework is allowed, it is highly recommended that students review all course materials and complete some test preparation tasks before attempting the graded assessment.
Please be sure to review the following important information about the University Policies and Procedures.
All students must participate in all classroom activities, attend classes regularly, and prepare before classes for classroom activities that require advance preparation. Students need to fully appreciate that good attendance results in more opportunities to engage in quality participation, which, in turn, results in a more thorough acquisition of subject knowledge and higher participation grades.
Participation in classroom discussions indicates that students have read the assigned readings. Grades will not be based on the number of posts submitted or comments made in the classroom but on the overall quality of contributions to discussions.
If a student is unable to attend 3 or more classes, he/she may be asked to complete additional assignments to complete the course.
Mode of Attendance
For the portion of the course that takes place over Microsoft Teams:
Students are required to arrive on time and engage appropriately with their fellow students, their teacher(s) and course materials. They must attend with a functional web camera and microphone, have the latest version of Microsoft Teams installed on their computers, avoid attending via a mobile phone or web browser, and have all necessary materials to hand. Also, their cameras must be always switched on, except for occasions when privacy becomes a necessity. In addition, they must be appropriately attired, attend in an environment that will not distract them, their fellow students or their teacher(s), especially avoiding attending while in a vehicle, whether moving or stationary.
For the on-campus portion of the course:
The mandatory on-campus session meets as per the AUS Campus schedule. Good attendance is required to earn credits and pass the course. Students cannot arrive late or leave early. Students traveling from afar must plan accordingly, giving themselves plenty of time to arrive by the start of class. No exceptions can be granted.
Classes start and end on time, with late entry or reentry allowed only under exceptional circumstances. All phones and electronic devices must be turned off.
The expectation is that students read assigned materials prior to class. Class discussions are based on their reading of these materials and their reflections on what they have learned and how these relate to their experiences. Assignments are intended to encourage students’ exploration, reflection on and synthesis of assigned topics and course discussions.
Assessments are listed in the course syllabus and are due by the stipulated deadlines.
No assessment will be accepted after the day following the day it is due. If an assessment submission is one day late late, it will receive an automatic reduction in grade of one letter, for example, from an A to a B. After that, no late work will be accepted, and the student will receive an F grade for the assessment.
Submission of late papers must be approved in advance. Late final papers will not be accepted.
ACADEMIC INTEGRITY POLICY
Students are responsible for understanding the University Policies and how to use sources responsibly. Violations of academic integrity are taken very seriously. Students are asked to visit the course RESM 50011: Fundamentals of Graduate Research Reading and Writing to review important information on academic citation and referencing rules.
ACCESSIBILITY SERVICES POLICY
The University is committed to providing an accessible academic community. The Disability Services (DS) is responsible for providing accommodations to students with disabilities. Students must request accommodations or adjustments through the DS. Instructors cannot grant accommodation requests without prior DS approval. It is imperative to be in touch with the DSS as soon as possible to avoid delays in the provision of an accommodation.
The University takes student privacy seriously. Any medical documentation should be provided directly to the DS if a substantial accommodation is required. If a student misses any classes due to a short-term illness, he/she should notify his/her instructor but to avoid the inclusion of a doctor's note. Course staff will not request, accept, or review doctor's notes or other medical documentation. For more information, email DS@TheAUS.us
PUBLISHING OR DISTRIBUTING COURSE MATERIALS POLICY
Students may not post, publish, sell, or otherwise publicly distribute course materials without the written permission of the course instructor. Such materials include, but are not limited to, the following: lecture notes, lecture slides, video, or audio recordings, assignments, problem sets, examinations, other students’ work, and answer keys. Students who sell, post, publish, or distribute course materials without written permission, whether for the purposes of soliciting answers or otherwise, may be subject to disciplinary action, up to and including a requirement to withdraw. Furthermore, students may not make video or audio recordings of class sessions for their own use without written permission from the instructor.
ETHICS AND USE OF PRIOR MATERIALS
It is never appropriate to use materials prepared for previous courses by students or faculty. Students should not use previously completed case write-ups, or summaries of readings.
WEEKLY CLASS MEETING SCHEDULE
Additional information can be found on the course website.
Please note: the syllabus may be modified prior to and during a course, including updates to assignments and additional material.