With Dr Grant Scobie
Cost: This course is provided by the Government Economics Network (GEN) at a cost of $750 plus GST per person.
Date/Time: Tues Nov 21 and Thurs Nov 23 2023 & Tues Nov 28 and Thurs Nov 30 2023 (FOUR (4) half day sessions 9am -12.30) – Please note: this was originally planned for end of July and has been postponed to November.
Location: St. Andrew’s on The Terrace
Target audience and assumed background
Have you done GEN’s Introduction to Macroeconomics course? This ‘next steps’ course extends on the concepts and policy applications that you learned in the introduction course, building on your capability to understand economic developments and their implications for your work. As well as understanding the nature of the economic concepts that underpin the economy, this course will enable you to better understand the role of government and the Reserve Bank in New Zealand. Exploring the COVID-19 case study will illuminate the key elements of macro and fiscal policy and how the impact on the economy.
The content will cover some of the aspects that you would find in a second year intermediate level macroeconomics course. However we will keep the mathematical content to a minimum – a bit of basic algebra in reality. If your economics degree was some time ago and you haven’t been using it so much, then this short course may serve as a refresher. It will also have a much stronger policy focus than a typical academic course which tends to place more emphasis on theoretical aspects.
While there are no formal prerequisites, it is recommended that you have either completed the GEN course: Introductory Macroeconomics; or an equivalent.
The objective of this short course is to provide participants with a greater understanding of the basic elements of macroeconomics, with emphasis on their application to public policy analysis. To do this the course will help participants develop an appreciation of:
- nature of economic aggregates by providing a brief review of the data of macroeconomics;
- role of government in (a) providing the statutory framework (eg the Public Finance Act 1989, the Reserve Bank of New Zealand Act 1989) and (b) shaping the decisions of individuals and firms through its role in savings, investments, tax and welfare and foreign exchange;
- role of the Reserve Bank of New Zealand in (a) operating monetary policy to achieve price stability and maximum sustainable employment; (b) ensuring the functioning of a sound and efficient financial system; and (c) overseeing and operating effective payments systems;
- micro foundations of macroeconomics by recognising that all outcomes in the macroeconomy are the results of decisions taken by households and firms; and
- key elements of monetary and fiscal policy with particular reference to the policy responses to Covid-19.
On completion of this course participants will:
- have an understanding of key macroeconomic terms and concepts;
- be familiar with some of the key analytical frameworks used in macroeconomics, with particular attention to small, open economies;
- be able to use the tools that these frameworks provide, and apply them to current policy debates;
- appreciate how macroeconomic outcomes reflect the microeconomic decisions of firms and households and the role of government in shaping those decisions through policies related to stabilisation, taxes, welfare, trade, savings and investment;
- appreciate the importance of uncertainty and expectations:
- have a basic understanding of the role and limitations of monetary and fiscal policies; and
- have an appreciation of the limits of our understanding and unresolved questions.
- The long run: economic growth
- The open economy
- Stabilisation in the short run: fiscal policy
- Stabilisation in the short run: monetary policy
By submitting this Registration Form, you are confirming your availability to attend the GEN Training Course.
- Cancellation will not be accepted. The booking will be charged and invoiced with the full fee.
- If a registrant is unable to attend the course, the registration may be transferred to another suitable person to attend 2 days before start. All transfer requests must include the new attendee’s name, email address and telephone number and received in a written format and can be emailed to firstname.lastname@example.org.
- No refunds will be given by GEN for no-shows.
DECLARATION: I hereby certify that I am duly authorised to complete this registration form and have read and understand the terms and conditions as stipulated above.