Macroeconomics 2600-BM-MACRO
The course will cover the following topics:
1) Introduction - basic concepts of macroeconomics, definition of macroeconomics, introduction to nominal and real values, business and financial decision-making a macroeconomic environment;
2) Gross Domestic Product and Gross National Product – methods of measuring GDP and GNP, national accounts and macroeconomics indicator, Circular Flow Model, prices (inflation and deflation);
3) Production and growth – productivity, determinants of growth, causes of growth, economic growth and public policy; factors of growth and development, Solow-Swan model;
4) Saving, investment and the financial system; monetary system – the role of money, the functions of central banks;
5) Money and Inflation
6) Unemployment and labour market – natural rate of unemployment, cyclical rate of unemployment, definition, measurements, causes;
7) Business cycles: supply side, demand side; definition, models, assessment of the economic environment and business decisions using the business cycle (leading indicators); IS-LM analysis – fiscal and monetary policy, demand for money, equilibrium in the market; AD-AS model
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Term 2024L:
The course will cover the following topics: |
Type of course
Course coordinators
Learning outcomes
Students will acquire knowledge of key economic issues and will be able to apply this knowledge to explain problems occurring in the modern economy. In particular students will know and understand:
- economic terminology within business organizations,
- economic theories and models concerning the functioning of organizations and the entire economy,
- The role of fiscal and monetary policy on the national economy;
Students are able to:
- explain what the macroeconomics is about
- to identify, diagnose, and solve problems related to key functions in an organization and global economy
- interpret correctly technological, social, political, legal, economic, and ecological processes and their impact on the functioning of organizations and the entire economy,
- predict the direction of changes in macroeconomic indicators caused by policy
- evaluate and critically approach situations and phenomena related to the functioning of organizations, the sector, and the entire economy
• Students will acquire social skills such as working in groups, participating in discussions, creating presentations, and presenting them to other course participants.
Assessment criteria
Exercises and problems to solve in algebraic ang graphical way. To graduate the course, student should get at least 50% of all points. Students can get extra points through participation in class activities.
• written (in-class) end-term exam
• class activities
• students’ presentations
Bibliography
1. Mankiw G. N., Principles of Economics, 6th edition, 2011 or later editions
or
2. Mankiw G.N., Taylor M.P., Economics, 2nd edition, 2011 or later editions
or
3. Davidson L. S., Hauskrecht A., von Hagen J., Macroeconomics for business, 2020 or later
Additional information
Additional information (registration calendar, class conductors, localization and schedules of classes), might be available in the USOSweb system: