ECON844: Monetary and Financial Policies
|
Lecturer in charge |
Professor Jeffrey Sheen |
|
Availability |
E1 - Evening; Offered in the first half-year |
|
Unit Outline |
|
|
Websites |
Coursework unit website - Online learning @ MQ (Login required) |
Description
All students doing this unit must have completed an intermediate level course in macroeconomics. The unit examines a number of issues concerning monetary theory and policy. We begin with an analysis of empirical regularities of money, output, prices and interest rates, with particular reference to Australia. This leads to the development of key models of monetary economies in use today. These are invariably based on what is known as dynamic stochastic general equilibrium, or DSGE, models. These models were first developed in the context of real business cycle models with flexible prices. The policy relevant ones include a variety of nominal rigidities, and they are often referred to as “New Keynesian” models. The workhorse version has 3 equations (dynamic IS relation, a modern Phillips curve, and an interest rate rule), which has the virtue that it can be easily manipulated both analytically and numerically. We will examine monetary and fiscal policies interactions. A key issue addressed is how to determine optimal monetary policy, and in this context we will study the role of inflation targeting.
Topics
- Empirical regularities of money, prices, output and interest rates
- Basic monetary models
- Money and public finance, optimal inflation
- Real business cycle theory
- The New Keynesian model with nominal rigidities.
- DSGE models with nominal rigidities
- Optimal monetary policy
Withdrawing from a unit
Students can withdraw from units via eStudent
Student Email
Macquarie students are issued with an official University email.
MAcc and PGDipAcc Transition
These degrees are changing to a semester based program in 2010
2009 PG Programs Brochure
Download 2009 Postgraduate Program Brochure
Application for CPA Program
Information about CPA Program Application process.
Support for ACCG834
Academic Support for students enrolled in ACCG834.
Trimester 2 - Final Exam
2009 Final-Trimester 2 Exam Timetable now available
Class Registrations
Open from 9th July 2009 for Trimester 3 and Semester 2
Course Completion Letter
Select the best form for your situation from here.
New MAcc Guide for 2009
2009 Postgraduate Accounting Guide