ECONS301-23A (HAM)

Economic Growth and Wellbeing

15 Points

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Division of Management
School of Accounting, Finance and Economics

Staff

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Convenor(s)

Lecturer(s)

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: denise.martin@waikato.ac.nz

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: yilan.chen@waikato.ac.nz

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What this paper is about

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This paper enables students to appreciate key macroeconomic models relevant to understanding economic growth and well-being. Macroeconomists study those aspects of well-being that relate to overall economic outcomes such as economic prosperity and full employment. In doing so, macroeconomists study the overall behaviour and interaction of output, consumption, saving, investment, wages and profits, government expenditure and revenue, imports and exports, inflation, money, interest rates and exchange rates. In this paper, we focus on a range of questions relevant to growth and well-being that macroeconomists attempt to answer. These questions include: What determines economic growth? Can policies influence a country’s economic growth? What is the evidence to support growth theories and policies? What determines inflation? What determines unemployment? What is the relationship between inflation and unemployment? What policies are available to influence inflation and unemployment? What determines the exchange rate? What is the relationship between exchange rates and interest rates? Should governments intervene in the foreign exchange market? These types of headline questions are important for a wide-ranging audience that includes economists, analysts, forecasters, decision-makers and advisers working in the private, public and international sectors.
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How this paper will be taught

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The teaching time will primarily comprise lectures. The lectures will feature formal discussion primarily based on the construction and application of macroeconomic theory. They will also draw on case studies that demonstrate the testing of key hypotheses implied by theory. Some lectures will include engagement with a number of problem-solving exercises that are relevant to the course material. At the outset of the paper, it will be presumed that students already have a reasonable background knowledge of macroeconomics and quantitative skills. Before starting the paper, students are advised to review the material from ECONS200 (Understanding the Global Economy).

This is a FLEXI paper that will have learning available both face-to-face (on campus) and online thereby offering flexibility in terms of where and how students learn. Face-to-face classes will take place during the scheduled periods below while maintaining remote or recorded Zoom access options for those not on campus. Students are advised to check Moodle regularly and check for announcements as last minute changes towards online-only learning may need to be made on account of Covid.

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Required Readings

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The required reading is Blanchard (2020):

Blanchard O., (2020), Macroeconomics, Global Edition, Eighth Edition, Pearson.

As an alternative, the previous edition of Blanchard can also serve as required reading for ECONS301-22A:

Blanchard O., (2017), Macroeconomics, Global Edition, Seventh Edition, Pearson.

Please click here for more details.

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Learning Outcomes

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Students who successfully complete the course should be able to:

  • Build and interpret macroeconomic models (40%)
    LO#1.
    Linked to the following assessments:
  • Demonstrate how these models may enhance our understanding of real world experience (20%)
    LO#2.
    Linked to the following assessments:
  • Use these models for policy design (20%)
    LO#3.
    Linked to the following assessments:
  • Critically appraise these macroeconomic models (20%).
    LO#4.
    Linked to the following assessments:
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Assessments

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How you will be assessed

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The assessment is based on three quizzes, two tests and an assignment.
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The internal assessment/exam ratio (as stated in the University Calendar) is 100:0. There is no final exam. The final exam makes up 0% of the overall mark.

The internal assessment/exam ratio (as stated in the University Calendar) is 100:0 or 0:0, whichever is more favourable for the student. The final exam makes up either 0% or 0% of the overall mark.

Component DescriptionDue Date TimePercentage of overall markSubmission MethodCompulsory
1. Quiz 1
14 Mar 2023
6:00 PM
8
  • Online: Submit through Moodle
2. Quiz 2
4 Apr 2023
6:00 PM
8
  • Online: Submit through Moodle
3. Assignment
26 Apr 2023
6:00 PM
30
  • Online: Submit through Moodle
4. Quiz 3
9 May 2023
6:00 PM
8
  • Online: Submit through Moodle
5. Test
30 May 2023
6:00 PM
16
  • Online: Submit through Moodle
6. End of Trimester Test
13 Jun 2023
6:00 PM
30
  • Online: Submit through Moodle
Assessment Total:     100    
Failing to complete a compulsory assessment component of a paper will result in an IC grade
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