Bachelor
2024/2025
Macroeconomics 2
Type:
Compulsory course (International Programme in Economics and Finance)
Area of studies:
Economics
Delivered by:
International College of Economics and Finance
When:
3 year, 3, 4 module
Mode of studies:
offline
Open to:
students of one campus
Language:
English
ECTS credits:
7
Contact hours:
84
Course Syllabus
Abstract
Macroeconomics-2 is a one-semester course and it is taught for the third year students in Spring semester. This course will cover the fundamental principles of macroeconomics at an intermediate level. Topics include the supply side of the economy and economic growth, the demand side of the economy, consumption, investment, fiscal policy, the labour market and unemployment, financial markets, banking, money and monetary policy, business cycles, inflation, and international macroeconomics.
The course is taught in English. The students are also studying for Russian degree in Economics, and knowing Russian terminology through reading in Russian is also required
Learning Objectives
- This course introduces students to the most influential and compelling theories designed by macroeconomists to explain issues related to the determination of output, unemployment and inflation. Students will acquire a logical and consistent framework for understanding the main macroeconomic facts and events, and develop the ability to employ the correct macroeconomic tool(s) to explain specific macroeconomic issues and justify policy proposals.
Expected Learning Outcomes
- define and analyse the determinants of business cycles, long run economic growth, unemployment, inflation; use and apply a wide range of economic models to analyse contemporary and historical macroeconomic events, and formulate and propose appropriate macroeconomic policies; be capable to work in a team; be prepared for further units which require a knowledge of macroeconomics;
Course Contents
- The supply side of the economy
- Economic growth in the long run
- The demand side of the economy
- Credit-market imperfections and fiscal policy
- Money and monetary policy
- Banking, finance, and the money markets
- Unemployment, vacancies, and wages
- Nominal rigidities and business cycles
- Inflation, expectations, and macroeconomic policy
- International trade in goods and assets
Assessment Elements
- Control work
- Final examIn order to get a passing grade for the course, the student must sit all parts of the examination.
- Home assignments
Interim Assessment
- 2024/2025 4th module0.29 * Control work + 0.63 * Final exam + 0.08 * Home assignments
Bibliography
Recommended Core Bibliography
- Macroeconomics, Williamson, S. D., 2005
- Mankiw, N. G. (1990). A Quick Refresher Course in Macroeconomics. Journal of Economic Literature, (4), 1645. Retrieved from http://search.ebscohost.com/login.aspx?direct=true&site=eds-live&db=edsrep&AN=edsrep.a.aea.jeclit.v28y1990i4p1645.60
Recommended Additional Bibliography
- Advanced macroeconomics, Romer, D., 2012