Accessibility Skip to Global Navigation Skip to Local Navigation Skip to Content Skip to Search Skip to Site Map Menu

ECON376 Macroeconomic Theory

A paper aimed at preparing Honours students for independent study in macroeconomics. The main topics covered will be the AS/AD paradigm, new classical macroeconomics, monetary and fiscal theory and policy.

The main topics covered will be the IS/LM paradigm, microfoundations of macroeconomics, and monetary policy in theory and practice. This paper follows a modern approach to macroeconomic theory based on microeconomic foundations. In particular, we analyse the consumption, saving and labour-supply decisions of households and the employment and investment decisions of firms. We also examine aspects of aggregate behaviour depicted in dynamic general equilibrium models of an economy. Theories of the business cycle, monetary and fiscal policy, financial crises, unemployment and international macroeconomics will be discussed.

Paper title Macroeconomic Theory
Paper code ECON376
Subject Economics
EFTS 0.1500
Points 18 points
Teaching period First Semester
Domestic Tuition Fees (NZD) $813.45
International Tuition Fees Tuition Fees for international students are elsewhere on this website.

^ Top of page

Prerequisite
ECON 202 and (ECON 270 or ECON 271)
Schedule C
Arts and Music, Commerce, Science
Contact
dennis.wesselbaum@otago.ac.nz
Teaching staff
Convenor and Lecturer: Dennis Wesselbaum
Textbooks
Charles I. Jones Macroeconomic, W. W. Norton & Company, Inc. (3rd and 2nd Edition are both fine)

Frederic S. Mishkin The Economics of Money, Banking, and Financial Markets, Addison-Wesley Series in Economics, 7th Edition
Graduate Attributes Emphasised
Global perspective, Scholarship, Communication, Critical thinking, Research, Self-motivation.
View more information about Otago's graduate attributes.
Learning Outcomes
After completing the paper, the successful student will be able to:
  • Describe the process of macroeconomics research and explain the role of theoretical models in that process
  • Construct and solve macroeconomic models based on microeconomics fundamentals
  • Understand and analyse the underlying economic forces that drive unemployment, growth, inflation, savings, short-run fluctuations in consumption and investment, stability of the financial system and international issues
  • Use academic writing to summarise and critique the current macroeconomic literature and economic events

^ Top of page

Timetable

First Semester

Location
Dunedin
Teaching method
This paper is taught On Campus
Learning management system
Blackboard

Lecture

Stream Days Times Weeks
Attend
L1 Monday 15:00-15:50 9-15, 17-22
Tuesday 12:00-12:50 9-15, 18-22

Tutorial

Stream Days Times Weeks
Attend one stream from
T1 Wednesday 12:00-12:50 9-15, 17-22
T2 Wednesday 13:00-13:50 9-15, 17-22

A paper aimed at preparing Honours students for independent study in macroeconomics. The main topics covered will be the AS/AD paradigm, new classical macroeconomics, monetary and fiscal theory and policy.

The main topics covered will be the IS/LM paradigm, microfoundations of macroeconomics, and monetary policy in theory and practice. This paper follows a modern approach to macroeconomic theory based on microeconomic foundations. In particular, we analyse the consumption, saving and labour-supply decisions of households and the employment and investment decisions of firms. We also examine aspects of aggregate behaviour depicted in dynamic general equilibrium models of an economy. Theories of the business cycle, monetary and fiscal policy, financial crises, unemployment and international macroeconomics will be discussed.

Paper title Macroeconomic Theory
Paper code ECON376
Subject Economics
EFTS 0.1500
Points 18 points
Teaching period First Semester
Domestic Tuition Fees (NZD) $829.65
International Tuition Fees Tuition Fees for international students are elsewhere on this website.

^ Top of page

Prerequisite
ECON 202 and (ECON 270 or ECON 271)
Schedule C
Arts and Music, Commerce, Science
Contact
economics@otago.ac.nz
Teaching staff
Convenor and Lecturer: Dennis Wesselbaum
Textbooks
Charles I. Jones Macroeconomic, W. W. Norton & Company, Inc. (3rd and 2nd Edition are both fine)

Frederic S. Mishkin The Economics of Money, Banking, and Financial Markets, Addison-Wesley Series in Economics, 7th Edition
Graduate Attributes Emphasised
Global perspective, Scholarship, Communication, Critical thinking, Research, Self-motivation.
View more information about Otago's graduate attributes.
Learning Outcomes
After completing the paper, the successful student will be able to:
  • Describe the process of macroeconomics research and explain the role of theoretical models in that process;
  • Construct and solve macroeconomic models based on microeconomics fundamentals;
  • Understand and analyse the underlying economic forces that drive unemployment, growth, inflation, savings, short-run fluctuations in consumption and investment, stability of the financial system and international issues;
  • Use academic writing to summarise and critique the current macroeconomic literature and economic events.

^ Top of page

Timetable

First Semester

Location
Dunedin
Teaching method
This paper is taught On Campus
Learning management system
Blackboard

Lecture

Stream Days Times Weeks
Attend
L1 Monday 15:00-15:50 9-13, 15-22
Tuesday 12:00-12:50 9-13, 15-22

Tutorial

Stream Days Times Weeks
Attend
T1 Wednesday 12:00-12:50 9-13, 15-16, 18-22