Master
2022/2023
Theory and Practice of Macroeconomic Policy
Category 'Best Course for Broadening Horizons and Diversity of Knowledge and Skills'
Category 'Best Course for New Knowledge and Skills'
Type:
Elective course (Economics and Economic Policy)
Area of studies:
Economics
Delivered by:
Department of Theoretical Economics
Where:
Faculty of Economic Sciences
When:
2 year, 1, 2 module
Mode of studies:
offline
Open to:
students of all HSE University campuses
Instructors:
Olga Kuznetsova
Master’s programme:
Economics and Economic policy
Language:
English
ECTS credits:
6
Contact hours:
60
Course Syllabus
Abstract
Corse “Theory and Practice of Macroeconomic Policy” consists of three parts. The first part is devoted to the discussion of the main problems of macroeconomic theory. The second part of the course studies the evolution and the current state of macroeconomic policy. The last part of the course deals with the policy achievements and mistakes. The main emphasis will be made on the current tendencies in macroeconomic policy throughout the world, especially on communication policies in different countries. The Russian macroeconomic policy will be widely discussed.
Learning Objectives
- to present the mail current macroeconomic problems
- to describe the role of government and central banks in the economy
- to introduce the students to the standard analytical methodology that figures out the optimal macroeconomic policy measures
Expected Learning Outcomes
- to understand the role of fiscal and monetary policy as output, inflation and exchange rate determinants, the difference between monetary policy regimes, the causes and features of financial crises in the modern economy, the opportunities and feasibilities of stabilisation policy
- to analyze financial and real data, apply the macroeconomic tools for the analysis of both monetary and fiscal sphere
- to acquire the necessary skills to discuss different macroeconomic problems, the fiscal and monetary authorities’ actions and decisions, the consequences of macroeconomic policy changes for the economy
Course Contents
- Part 1. The main problems of macroeconomic policy. Topic 1. Introduction. Macroeconomic policy: targets and constraints
- Part 1. Topic 2. Macroeconomic problems: Inflation
- Part 1. Topic 4. Currency crises
- Part 1. Topic 5. Government debt
- Part 2. The evolution and the current state of macroeconomic policy. Topic 6. Monetary policy regimes
- Part 2. Topic 7. Inflation targeting
- Part 2. Topic 8. Communication policy of central banks
- Part 2. Topic 9. New challenges to macroeconomic policy
- Part 3. Policy achievements and mistakes
Assessment Elements
- Average mark for quizzes
- EssayThe essay is to be prepared after the second part of the course. This essay is the critical literature overview at a chosen topic.
- Project
Interim Assessment
- 2022/2023 2nd module0.35 * Project + 0.35 * Essay + 0.3 * Average mark for quizzes
