- study of economic growth and business cycles. It aims to explain observed aggregate time series for economic variables like GDP, consumption, investment, prices and wages, and the rate of unemployment
- Understand the main mechanisms operating in the economy
- Know the basic building blocks of short-run macroeconomic theory
- Be able to describe the process of the economy’s adjustment towards equilibrium after a shock
- Have an understanding of the monetary policy conducted under Taylor Rule
- Be able to derive consumption and investment functions in simple settings, as well as understand the concept of the optimal monetary policy
- Understand the need for stabilization policy, and the methods it is conducted by the government (fiscal policy) and the Central Bank (monetary policy)
- What is macroeconomics? Macro for short and long run.
- Business cycles facts.
- Short run model of the economy: building blocks.
- Short run model of the economy and policy: closed economy.
- Short run model of the economy and policy: open economy.
- in-class tests (неблокирующий)
- class participation (неблокирующий)
- final exam (неблокирующий)
- Промежуточная аттестация (2 модуль)0.1 * class participation + 0.6 * final exam + 0.3 * in-class tests
- Homburg, S. (2017). A Study in Monetary Macroeconomics. Corby: OUP Oxford. Retrieved from http://search.ebscohost.com/login.aspx?direct=true&site=eds-live&db=edsebk&AN=1546730
- Richard Barwell. (2017). Macroeconomic Policy after the Crash. Springer. Retrieved from http://search.ebscohost.com/login.aspx?direct=true&site=eds-live&db=edsrep&AN=edsrep.b.spr.sprbok.978.3.319.40463.9