ECON 3523 - Advanced Economic Analysis III

North Terrace Campus - Semester 2 - 2021

This is a capstone course that focuses on applying economic modelling and analytical techniques acquired during the BEc(Adv) degree to important contemporary economic questions. Enrolment is restricted to BEc(Adv) students. By the end of the course, the students will have learned how advanced economic research is employing economic theory and analytical tools to standard macroeconomic problems. Fields of application may include the role of income, wealth and uncertainty to consumption and savings decisions; the determinants of investment, growth and unemployment.

Open All

Course Details

Course Code	ECON 3523
Course	Advanced Economic Analysis III
Coordinating Unit	Economics
Term	Semester 2
Level	Undergraduate
Location/s	North Terrace Campus
Units	3
Contact	Up to 4 hours per week
Available for Study Abroad and Exchange	N
Prerequisites	ECON 2507, and either ECON 2506 or ECON 2512 or ECON 2516
Incompatible	ECON 3514, ECON 3525
Assumed Knowledge	ECON 1010
Restrictions	Only available to B.Economics (Advanced) students
Assessment	Typically, assignments, mid-term test, student presentation & final exam or project

Course Staff

Course Coordinator: Dr Jacob Wong

Course Timetable

The full timetable of all activities for this course can be accessed from Course Planner.

Course Learning Outcomes

On successful completion of this course, students will be able to:

1. understand how to use economic data to discern across competing economic mechanisms within available economic theories,
2. understand how economic theory can be used to interpretavailable economic data, and
3. produce simple quantitative economic models that can be solved on computers in order to provide economic advise to users.

University Graduate Attributes

This course will provide students with an opportunity to develop the Graduate Attribute(s) specified below:

University Graduate Attribute	Course Learning Outcome(s)
Deep discipline knowledge informed and infused by cutting edge research, scaffolded throughout their program of studies acquired from personal interaction with research active educators, from year 1 accredited or validated against national or international standards (for relevant programs)	1 - 3
Critical thinking and problem solving steeped in research methods and rigor based on empirical evidence and the scientific approach to knowledge development demonstrated through appropriate and relevant assessment	1 - 3
Teamwork and communication skills developed from, with, and via the SGDE honed through assessment and practice throughout the program of studies encouraged and valued in all aspects of learning	1 - 3
Career and leadership readiness technology savvy professional and, where relevant, fully accredited forward thinking and well informed tested and validated by work based experiences	1 - 3
Intercultural and ethical competency adept at operating in other cultures comfortable with different nationalities and social contexts able to determine and contribute to desirable social outcomes demonstrated by study abroad or with an understanding of indigenous knowledges	1 - 3
Self-awareness and emotional intelligence a capacity for self-reflection and a willingness to engage in self-appraisal open to objective and constructive feedback from supervisors and peers able to negotiate difficult social situations, defuse conflict and engage positively in purposeful debate	1 - 3

Learning Resources

Recommended Resources

"Mathematics for Economists" by Carl P. Simon and Lawrence Blume

"Fundamental Methods of Mathematical Economics" by Alpha C. Chiang
Learning & Teaching Activities

Learning & Teaching Modes

Lectures and tutorials.

Workload

The information below is provided as a guide to assist students in engaging appropriately with the course requirements.

The University expects full-time students (i.e. those taking 12 units per semester) to devote atotal of 48 hours per week to their studies. This translates to 12 hours per week for a semester course. Students should expect to spend at least 4 to 8 hours per week reading core material and working through problem sets.

Learning Activities Summary

Teaching & Learning Activities Related Learning Outcomes

Lectures 1, 2

Workshops 3

A tentative outline includes:

1) Dynamic Programming
2) The Consumption-Savings Model
3) Equilibrium Theory of Unemployment
4) Introduction to Numerical Methods in Economics

The University's policy on Assessment for Coursework Programs is based on the following four principles:

Assessment must encourage and reinforce learning.
Assessment must enable robust and fair judgements about student performance.
Assessment practices must be fair and equitable to students and give them the opportunity to demonstrate what they have learned.
Assessment must maintain academic standards.

Assessment Summary

Assessment Task	Due Date/ Week	Weight	Learning Outcomes
Assignment(s)	Week TBA	20%	1-3
Mid-term Exam/Short Answer In-Class Assessments	Week TBA	40%	2,3
Final Project	Exam Period	40%	1 - 3
Total		100%

Assessment Detail

The midterm exam will occur in class some time around Week 5 to 7. The exact date will depend on material covered in lectures.

Those who miss the mid-semester exam or any class assignments must obtain documentation that satisfies university regulations in order to avoid a grade of zero on the mid-semester exam or assignment. A make-up assessment will only be offered to those who obtain accepted documentation.

The length of assessments will be announced on the course website. The midterm is expected to be either an hour or two hours in duration.

Please note that, following University policy, dictionaries are not allowed in School of Economics exam.

See MyUni for further information on assessment details.

Submission

No information currently available.

Course Grading

Grades for your performance in this course will be awarded in accordance with the following scheme:

M10 (Coursework Mark Scheme)
Grade	Mark	Description
FNS		Fail No Submission
F	1-49	Fail
P	50-64	Pass
C	65-74	Credit
D	75-84	Distinction
HD	85-100	High Distinction
CN		Continuing
NFE		No Formal Examination
RP		Result Pending

Further details of the grades/results can be obtained from Examinations.

Grade Descriptors are available which provide a general guide to the standard of work that is expected at each grade level. More information at Assessment for Coursework Programs.

Final results for this course will be made available through Access Adelaide.

Additional Assessment

If a student receives 45-49 for their final mark for the course they will automatically be granted an additional assessment. This will most likely be in the form of a new exam (Additional Assessment) and will have the same weight as the original exam unless an alternative requirement (for example a hurdle requirement) is stated in this semester’s Course Outline. If, after replacing the original exam mark with the new exam mark, it is calculated that the student has passed the course, they will receive 50 Pass as their final result for the course (no higher) but if the calculation totals less than 50, their grade will be Fail and the higher of the original mark or the mark following the Additional Assessment will be recorded as the final result.

Student Feedback

The University places a high priority on approaches to learning and teaching that enhance the student experience. Feedback is sought from students in a variety of ways including on-going engagement with staff, the use of online discussion boards and the use of Student Experience of Learning and Teaching (SELT) surveys as well as GOS surveys and Program reviews.

SELTs are an important source of information to inform individual teaching practice, decisions about teaching duties, and course and program curriculum design. They enable the University to assess how effectively its learning environments and teaching practices facilitate student engagement and learning outcomes. Under the current SELT Policy (http://www.adelaide.edu.au/policies/101/) course SELTs are mandated and must be conducted at the conclusion of each term/semester/trimester for every course offering. Feedback on issues raised through course SELT surveys is made available to enrolled students through various resources (e.g. MyUni). In addition aggregated course SELT data is available.
Student Support
Policies & Guidelines
This section contains links to relevant assessment-related policies and guidelines - all university policies.
Fraud Awareness

Students are reminded that in order to maintain the academic integrity of all programs and courses, the university has a zero-tolerance approach to students offering money or significant value goods or services to any staff member who is involved in their teaching or assessment. Students offering lecturers or tutors or professional staff anything more than a small token of appreciation is totally unacceptable, in any circumstances. Staff members are obliged to report all such incidents to their supervisor/manager, who will refer them for action under the university's student’s disciplinary procedures.

The University of Adelaide is committed to regular reviews of the courses and programs it offers to students. The University of Adelaide therefore reserves the right to discontinue or vary programs and courses without notice. Please read the important information contained in the disclaimer.

Authorised by:	Deputy Vice-Chancellor and Vice-President (Academic)
Maintained by:	Course Outlines Administrator