ECON617-24S1 (C) Semester One 2024

Macro and Monetary Economics

15 points

Start Date: Monday, 19 February 2024
End Date: Sunday, 23 June 2024
Withdrawal Dates
Last Day to withdraw from this course:
  • Without financial penalty (full fee refund): Sunday, 3 March 2024
  • Without academic penalty (including no fee refund): Sunday, 12 May 2024


Monetary economics, financial crises, economic growth.

ECON617 is a lectures-based course that MAFE students with no prior exposure to monetary economics can take. There are 12 2-hour lectures that ECON617 students share with ECON326 students. A 1-hour tutorial follows each lecture. The tutorials allow students to hone their problem-solving skills. A guest lecture by Dean Hill, a Senior Manager in the Financial Markets Department of the Reserve Bank of New Zealand, is planned for May 30th.

Learning Outcomes

The objectives of the course are:
1. To give students a solid grounding in monetary economics
2. To provide a thorough understanding of central bank behaviour
3. To explain the advantages and disadvantages of monetary policy strategies
4. To discuss central bank action in economic crises.
5. To introduce the student to the art of doing independent research.


Subject to approval of Head of Department


Equivalent Courses

Timetable 2024

Students must attend one activity from each section.

Lecture A
Activity Day Time Location Weeks
01 Thursday 09:00 - 11:00 A6 Lecture Theatre
19 Feb - 31 Mar
29 Apr - 2 Jun
Tutorial A
Activity Day Time Location Weeks
01 Thursday 14:00 - 15:00 A8 Lecture Theatre
19 Feb - 31 Mar
29 Apr - 2 Jun

Course Coordinator / Lecturer

Alfred Guender


Assessment Due Date Percentage 
Research Paper 33%
Final Exam 67%

The ‘45% rule’ does not apply to this course. That is, students do not need to reach 45% weighted average across invigilated assessments. Please refer to Learn for further information.

Assessment in Te Reo Māori
In recognising that Te Reo Māori is an official language of New Zealand, the University provides for students who may wish to use Te Reo Māori in their assessment. If you intend to submit your work in Te Reo Māori you are required to do the following:

Read the Assessment in Te Reo Māori Policy and ensure that you meet the conditions set out in the policy. This includes, but is not limited to, informing the Course Coordinator 1) no later than 10 working days after the commencement of the course that you wish to use Te Reo Māori and 2) at least 15 working days before each assessment due date that you wish to use Te Reo Māori.

Textbooks / Resources

There is no required text. Students may find the texts listed below helpful in fostering their understanding of the material discussed in the lectures.
Froyen, Richard T. and Alfred V. Guender, Optimal Monetary Policy under Uncertainty (FG), Edward Elgar, Cheltenham, UK, 2007 (on reserve in library); second edition 2019.
McCallum, Bennett T. Monetary Economics: Theory and Policy (ME), Macmillan Publishing Company, New York, 1989.
McCallum, Bennett T. International Monetary Economics (IME), Oxford University Press, 1996.
Branson, William Macroeconomic Theory and Policy (B) (2nd or 3rd edition)

Indicative Fees

Domestic fee $1,066.00

* All fees are inclusive of NZ GST or any equivalent overseas tax, and do not include any programme level discount or additional course-related expenses.

For further information see Department of Economics and Finance .

All ECON617 Occurrences

  • ECON617-24S1 (C) Semester One 2024