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In this course, students will gain a deep understanding of the key macroeconomic theories and concepts, including GDP, inflation, and unemployment. Through in-depth analysis and measurement of these concepts, students will learn about their interconnections and how they affect the economy as a whole. In addition to exploring macroeconomic theory, we will also examine the policies and tools that governments and central banks use to influence the economy, such as monetary and fiscal policy. By understanding how these policies can affect business operations, students will gain the ability to anticipate and adapt to changes in consumer demand, borrowing costs, and overall economic growth, which will enable them to make more informed and strategic decisions in a dynamic macroeconomic environment.
The main objective of an introductory macroeconomics course is to equip students with a comprehensive understanding of macroeconomic principles, including the measurement, analysis, and forecasting of key economic indicators. The course will explore the relationship between these indicators and how they interact to shape the overall economic landscape. Additionally, students will learn about the tools and policies used by governments and central banks to influence the economy, such as monetary and fiscal policies and their impact on business operations. The course will also focus on developing the students' ability to analyze and evaluate the economic environment in which they operate, and make informed decisions based on this understanding.
- 10 - To identify long-term economic growth factors and understand the impact of globalisation.
- 21 - To be familiar with the main theories in the fields of microeconomics and macroeconomics.
- 22 - To be able to identify the nature and behaviour of producers, consumers and investors.
- 23 - To be familiar with and know how to use microeconomic and macroeconomic analysis terminology.
- 31 - To develop the ability to identify and interpret numerical data.
Ability to compare and contrast macroeconomic models and theories.
Ability to critically evaluate the assumptions and empirical evidence underlying macroeconomic models and theories.
Ability to anticipate the effects of public policies.
Ability to apply macroeconomic concepts and theories to real-world economic problems and policy debates.
Part I. Introduction
Session 1: GDP
Session 2: CPI
Part II. Classical Theory: The Economy in the Long Run
Session 3: National Income 1
Session 4: National Income 2
Session 5: Money and Inflation 1
Session 6: Money and Inflation 2
Session 7: Problem Set 1
Session 8: The Open Economy 1
Session 9: The Open Economy 2
Session 10: Unemployment
Session 11: Problem Set 2
Session 12: Midterm 1
Part III. Growth theory
Session 13: Capital Accumulation and Population Growth 1
Session 14: Capital Accumulation and Population Growth 2
Session 15: Technology, Empirics, and Policy
Part IV. Business Cycle Theory: The Economy in the Short Run
Session 16: Introduction to Economic Fluctuations
Session 17: Aggregate Demand 1, Building the IS-LM Model
Session 18: Aggregate Demand 2, Applying the IS-LM Model
Session 19: The Open Economy Revisited 1
Session 20: The Open Economy Revisited 2
Session 21: Aggregate Supply and Short-Run Trade-off Between Inflation and Unemployment
Session 22: Problem Set 3
Session 23: Midterm 2
Part V. Topics
Session 24: Dynamic Model of Aggregate Demand and Aggregate Supply 1
Session 25: Dynamic Model of Aggregate Demand and Aggregate Supply 2
Session 26: Stabilization Policy
Session 27: Problem Set 4
Session 28: Understanding Consumer Behavior
Session 29: Money Supply and Money Demand
Session 30: Problem Set 5
Teaching and learning activities
- Master classes
- Practice sessions
Evaluation systems and criteria
Your final grade will be the weighted average of the elements below:
1) Midterm exam 1: 20%
2) Midterm exam 2: 20%
3) Final exam: 55%
4) Class participation: 5%
Bibliography and resources
Macroeconomics (11th International Edition). Mankiw, N. Gregory Published by Macmillan Learning (2022).
ISBN 13: 9781319466886