University of Technology Sydney

23938 Macroeconomics 1

Warning: The information on this page is indicative. The subject outline for a particular session, location and mode of offering is the authoritative source of all information about the subject for that offering. Required texts, recommended texts and references in particular are likely to change. Students will be provided with a subject outline once they enrol in the subject.

Subject handbook information prior to 2025 is available in the Archives.

UTS: Business: Economics
Credit points: 6 cp

Subject level:

Postgraduate

Result type: Grade and marks

There are course requisites for this subject. See access conditions.

Description

This subject equips students with the tools to apply dynamic modelling to economic problems while providing a rigorous introduction to macroeconomic theory in growth, investment, and employment.

Subject learning objectives (SLOs)

Upon successful completion of this subject students should be able to:
1. Understand modern macroeconomic models of consumption, investment, and economic growth
2. Knowledgeably and critically read and analyse contemporary macroeconomic research
3. Understand and apply dynamic analytical tools in economic analysis

Contribution to the development of graduate attributes

This subject develops the tools and concepts of macroeconomics and dynamic modelling employed in contemporary macroeconomic research in topics such as growth, employment, consumption, and investment decisions. The models developed will consider optimal behaviour by economic agents when markets are complete and efficient.

Teaching and learning strategies

The subject will be taught using a combination of lectures and tutorials. There is no course textbook. Students will read from texts and articles appropriate to the selection of topics.

Content (topics)

The content will be selected from the following areas:

  • Intertemporal choice;
  • Consumption and investment theory;
  • Growth economics;
  • Overlapping generations model;
  • Equilibrium with complete markets

Assessment

Assessment task 1: Assigned homework (Individual)*

Objective(s):

This addresses subject learning objective(s):

1, 2 and 3

Weight: 10%
Criteria:

*Note: Late submission of the assessment task will not be marked and awarded a mark of zero.

Assessment task 2: Assignment (Individual)

Objective(s):

This addresses subject learning objective(s):

1, 2 and 3

Weight: 45%

Assessment task 3: Final examination (Individual)

Objective(s):

This addresses subject learning objective(s):

1, 2 and 3

Weight: 45%

Minimum requirements

Students must achieve at least 50% of the subject’s total marks.

Required texts

  1. Ljungqvist L., Sargent T. (2012) Recursive Macroeconomic Theory, 3rd Ed., Cambridge: MIT Press.

Recommended texts

There is no recommended textbook.

References

  1. Romer D. (2011) Advanced Macroeconomics, New York: McGraw Hill.
  2. Sargent T. (1987) Dynamic Macroeconomic Theory, Cambridge; Harvard University Press
  3. Sargent T. (1987) Macroeconomic Theory, 2nd Ed., Cambridge; Harvard University Press
  4. Blanchard O., Fischer S. (1989) Lectures on Macroeconomics, Cambridge; MIT Press
  5. Evans G., Honkapohja S. (2001) Learning and Expectations in Macroeconomics; Princeton Press
  6. Chiang A.C. (1992) Elements of Dynamic Optimization, Prospect Heights; Waveland Press