Макроэкономика

Бакалавриат 2020/2021

Лучший по критерию «Новизна полученных знаний»

Статус: Курс по выбору (Международный бизнес и менеджмент/ Менеджмент)

Направление: 38.03.02. Менеджмент

Кто читает: Департамент экономики

Где читается: Санкт-Петербургская школа экономики и менеджмента

Когда читается: 1-й курс, 3, 4 модуль

Формат изучения: без онлайн-курса

Преподаватели: Анисовец Татьяна Александровна

Язык: английский

Кредиты: 5

Контактные часы: 50

Full Syllabus

Abstract

The course is brought to bachelor students of the Ba chelor Program “International Business and M anagement Studies ”, National Research University Higher School of Economics, Saint Petersburg (HSE Saint Petersburg) This document establishes the minimum requirements for knowledge, skills and competences of the student, determines the coverage and content of the cours e, indicates teaching methods and forms of learning activities as well as assessment criteria and grade determination. In this course we will consider such important concepts as: measurement and determination of a nation’s output and income and other natio nal account indexes, problems of economic growth and stability - inflation and unemployment, fiscal and monetary policies, public debt, international trade and exchange rate formation, structure of balance of payment. The course is designed to help student s develop critical - thinking skills through the understanding, application, and analysis of fundamental economic concepts. The focus of the course will be on the behavior and interactions of consumers and producers with the factor market and product mark et and to develop an understanding of the way in which government action impacts this behavior.

Learning Objectives

to teach students the economic way of thinking about a business decision and strategies
to provide a basic knowledge of the mac roeconomic environment in which consumers, businesses, and governments operate
to provide the students with an understanding of the various notions and concepts of economics

Course Contents

Macroeconomics basics
Macroeconomics and its central issues: inflation, unemployment, economic growth, stabilisation policy. The problem of aggregation. Gross domestic product, value added, final and intermediate goods. Double counting. Personal disposable income. Gross national product, national income. GDP deflator, CPI. Real vs. nominal variables. Some important national accounting identities.
National income. Aggregate supply and aggregate demand
AD – AS model (prices, wages and adjustment process). Prices and output. Short-run and long-run aggregate supply. The AD-AS schedule. Actual and potential output. Aggregate supply in the case Keynesian unemployment and in case of fully flexible prices and wages. Aggregate-supply shock and stagflation.
Consumption and savings. Investments
Determinants of consumption (consumption function) and marginal propensity to consume. Savings and marginal propensity to save. Relationship between consumption and savings in a closed economy without government. Investment. Savings and transmission mechanism. Interest rate and the present value concept.
Economic growth . Cycles of economic activity
The sources of growth. Business cycles.
Markets of economic resources
Demand for labor. Derived demand. Marginal revenue product. Marginal resource cost. B. Perfectly competitive labor market. Labor Unions. Effects of Minimum Wage. Wage differentials.
Unemployment
Labor force. Types of unemployment: frictional, structural, demand-deficient (cyclical), classical unemployment. Natural rate hypothesis. Private and social costs of unemployment.
Money, inflation and banking system
Money and Banking. Functions of Money. Demand for Liquid Assets. Central Bank, Commercial Banks and Supply of Liquid Assets. Money Base, Public Cash, Reserves, Deposits. Money Creation process. Money multiplier, deposit multiplier and loans multiplier. Upward sloping money supply. Inflation: CPI, PPI and GDP deflator, core inflation. Hyperinflation and flight from money. The role of expectations and inflation persistence. Output-inflation trade-off. Short-run and long-run Phillips curves. AS shocks and stagflation.
Regulation of business
The government sector. The federal Budget, Fiscal Policy. Public consumption and the marginal propensity to spend of the government. Government revenues and forms of taxation: lump-sum and proportional (marginal) taxes, progressive and regressive taxes, income and expenditure taxes, corporate tax.
An open economy
Balance of payments: current account, capital account and foreign reserves. Real and nominal exchange rate. Exchange rate determination and the money sector. Foreign exchange market, foreign currency reserves. Exchange rate regimes: fixed and flexible.

Assessment Elements

Written exam
Final exam consists of the two parts. Part 1. Test. Your test consists of 15 questions. The duration of the test is 25 minutes. There is only one correct answer in each question. Each correct answer gives you 3 points. You have only one attempt to complete this test. Part 2. Tasks. This part consists of 7 tasks. Each correct answer gives you 8 points. You have only the one attempt to do this work.
Quizes
Control test
This work consists of the two parts. Part 1. Test. Your test consists of 15 questions. The duration of the test is 25 minutes. There is only one correct answer in each question. Each correct answer gives you 3 points. You have only one attempt to complete this test. Part 2. Tasks. This part consists of 7 tasks. Each correct answer gives you 8 points. You have only the one attempt to do this work.

Interim Assessment

Interim assessment (4 module)
0.2 * Control test + 0.4 * Quizes + 0.4 * Written exam

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

Recommended Additional Bibliography

Acemoglu, D., Laibson, D. I., & List, J. A. (2016). Economics, Global Edition (Vol. Global edition). Boston: Pearson. Retrieved from http://search.ebscohost.com/login.aspx?direct=true&site=eds-live&db=nlebk&AN=1419560
Farrokh K. Langdana. (2016). Macroeconomic Policy. Springer. Retrieved from http://search.ebscohost.com/login.aspx?direct=true&site=eds-live&db=edsrep&AN=edsrep.b.spr.sptbec.978.3.319.32854.6
Henning Schwardt. (2017). The Path to a Modern Economics. Springer. Retrieved from http://search.ebscohost.com/login.aspx?direct=true&site=eds-live&db=edsrep&AN=edsrep.b.spr.sprbok.978.3.319.52785.7
Volker Böhm. (2017). Macroeconomic Theory. Springer. Retrieved from http://search.ebscohost.com/login.aspx?direct=true&site=eds-live&db=edsrep&AN=edsrep.b.spr.sptbec.978.3.319.60149.6

Course Syllabus