Кто читает:: Департамент экономики

Статус:: Курс обязательный

Когда читается:: 2-й курс, 3 модуль

Преподаватель

Розмаинский Иван Вадимович

Full Syllabus

Abstract

Macroeconomics as the part of economics is the study of human choice in the conditions of the deep interdependency of people; and the most part of economics is about interactions of people under the regime of market capitalism. In the beginning of the course we will spend time for analyzing this one and some other economic systems, and consider demand and supply analysis. Furthermore, we will discuss both advantages of the market system and its defects: we will speak about various types of market failures. The government can play the important role by dealing with market failures but its activities can generate different kinds of government failure. After discussing micro level problems we will turn to macro dimension of economics, and it will be the essential part of the course. This dimension is about economic variables like GDP, consumption, investment, inflation, and the rate of unemployment. Another major objective of macroeconomics is to explain the determinants of economic growth and development in the long run. In the short run en economy experiences nominal rigidities (sticky prices and wages) and expectational errors (differences between actual and expected prices). ). Rigidities and expectations make nominal aggregate demand, which could fluctuate because of some shock, affect real economic activity such as output and unemployment. Therefore, it is necessary to engage in aggregate demand management in order to stabilize the economy. We will study such stabilization policies (fiscal and monetary) and the most efficient ways of performing them. In the long run, economy’s output is a function of productive capacity (capital and labor inputs) as well as technologies (methods of transforming these resources into output) and institutions (laws and informal rules). We will discuss opportunities and limitations of economic growth. And finally we will make an introduction to the international macroeconomics

Learning Objectives

Understand main features of the capitalism and other economic systems

Expected Learning Outcomes

Understand building blocks of the demand and supply model
Know the main forms of market failures and government failures
Understand the building blocks of the aggregate demand and aggregate supply model
Understand causes of inflation and effects of anti-inflationary policy
Understand the reason for short-run stabilization policy being welfare- improving
Know main forms of stabilization policies (fiscal and monetary), and be able to describe their effects graphically
Understand the main driving forces of the economy in the long run: Factor accumulation and technical progress
Know main properties of the labor market functioning and causes of unemployment
Understand causes of exchange rate fluctuations

Course Contents

Economic Systems: Markets, Directives, etc.
The Fundamentals of Demand and Supply Analysis
Market Failures and Government Failures
The Foundations of Macro Analysis: Determination of GDP
Short-Run Macro Dynamics: Business Cycles, Unemployment and Inflation
Long-Run Macro Dynamics: Economic Growth and Technical Progress
Introduction to International Macroeconomics

Assessment Elements

Test
In-class Participation
Exam
The examination is conducted in writing on the Zoom platform . You must connect to the exam 15 minutes before the start. Student's computer must meet the requirements: (https://elearning.hse.ru/data/2020/05/07/1544135594/Технические%20требования%20к%20ПК%20студента.pdf ) During the exam, students are prohibited from: communicating (on social networks, with people in the room), writing off. During the exam, students are allowed to: use A4 sheets. A short-term communication disruption during the exam is considered interruption of communication up to 10 minutes. A long-term communication disorder during an exam is considered to be a communication interruption of 10 minutes or more. In case of a long-term communication disruption, the student cannot continue to participate in the exam. The transfer procedure is similar to the surrender procedure.

Interim Assessment

Interim assessment (3 module)
0.3 * Exam + 0.3 * In-class Participation + 0.4 * Test

Bibliography

Recommended Core Bibliography

Blanchard, O. (2017). Macroeconomics, Global Edition (Vol. Seventh edition). Harlow, UK: Pearson. Retrieved from http://search.ebscohost.com/login.aspx?direct=true&site=eds-live&db=nlebk&AN=1426555
Burda, M., & Wyplosz, C. (2017). Macroeconomics: a European Text. Oxford University Press. Retrieved from http://search.ebscohost.com/login.aspx?direct=true&site=eds-live&db=edsrep&AN=edsrep.b.oxp.obooks.9780198737513
Jones, P. M., & Enders, W. (2016). The Asymmetric Effects Of Uncertainty On Macroeconomic Activity. Macroeconomic Dynamics, (05), 1219. Retrieved from http://search.ebscohost.com/login.aspx?direct=true&site=eds-live&db=edsrep&AN=edsrep.a.cup.macdyn.v20y2016i05p1219.1246.00

Recommended Additional Bibliography

Andrew Mearman, Danielle Guizzo, & Sebastian Berger. (2018). Whither Political Economy? Evaluating the CORE Project as a Response to Calls for Change in Economics Teaching. Review of Political Economy, (2), 241. https://doi.org/10.1080/09538259.2018.1426682
Gordon, R. J. (2014). Macroeconomics: Pearson New International Edition (Vol. Twelfth edition. Pearson new international edition). Harlow, Essex: Pearson. Retrieved from http://search.ebscohost.com/login.aspx?direct=true&site=eds-live&db=edsebk&AN=1418495
Mukherjee, S. (2018). Economic Principles and Problems : An Insightful Analysis of New Economic Policy of the BJP Government . Hyderabad: New Central Book Agency. Retrieved from http://search.ebscohost.com/login.aspx?direct=true&site=eds-live&db=edsebk&AN=2239560
Peter Dorman. (2014). Macroeconomics. Springer. Retrieved from http://search.ebscohost.com/login.aspx?direct=true&site=eds-live&db=edsrep&AN=edsrep.b.spr.sptbec.978.3.642.37441.8

Бакалаврская программа «Востоковедение»

Контакты учебного офиса

Economics