316-451 Modelling the Australian Macroeconomy

316-312 Macroeconomics, and either 316-316 Basic Econometrics or 316-317 Econometrics.

This subject examines the use of open economy macroeconomic models in economic policy analysis. Topics include recent developments in open economy macroeconomic theory; important Australian macroeconomic data sets; the design of macroeconometric models of the Australian economy; the derivation of policy multipliers; policy simulation techniques and sensitivity analysis of economy-wide models; recent developments in the theory of economic growth; and an examination of some current issues in macroeconomic policy.

A 3-hour end-of-semester examination (80%) and class assignments totalling approximately 2000 words (20%).