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ECON325 studies the economy as a whole to understand the two main areas of macroeconomics: long-run growth in the standard of living and the general level of prices, and short-run fluctuations in employment and output. The course gives particular attention to the mathematical techniques that economists use to study these areas and the microeconomic foundations that underpin much of macroeconomic analysis.
The goal of Advanced Macroeconomics is to provide students with a rigorous overview of modern macroeconomics. The course builds on the themes introduced in ECON206. The principal objective of this class is to equip students with the tools and ideas necessary to understand the aggregate economy and to make informed opinions about different economic policies. This course builds up a set of models of the economy. Students are expected to use some basic mathematical tools (algebraic manipulations, solving systems of equations, differential calculus, optimisation).
To obtain a thorough and complete understanding of national economic accounts. To learn about the micro-foundations of modern macroeconomics.To solve two-period consumer problems using the Lagrange method.To understand the Euler equation as an intertemporal first order condition for a dynamic choice problem.To learn the basic concepts of economic models such as identities, behavioural equations, exogenous variables, exogenous variables and equilibrium conditions To learn to solve economic modelsTo learn about the role of expectations and uncertainty in macroeconomicsTo learn about money and its role in the economyTo use a set of frameworks such as the IS-LM and IS-LM-PC model to examine the effect of monetary and fiscal policy. To understand the drivers of economic growth, chiefly through the lens of the Solow/neoclassical growth model. To learn about the chief distinction between growth through capital accumulation and growth through technological progress.
(1) ECON206; and (2) MATH102; and (3) ECON207 or ECON208
Philip Vermeulen
Blanchard Olivier; Macroeconomics ; Eighth; Pearson, 2020.
Domestic fee $868.00
International fee $4,075.00
* All fees are inclusive of NZ GST or any equivalent overseas tax, and do not include any programme level discount or additional course-related expenses.
For further information see Department of Economics and Finance .