2024/2025

Economic Theory

Type: Mago-Lego

Delivered by: Faculty of World Economy and International Affairs

When: 1, 2 module

Open to: students of one campus

Language: English

ECTS credits: 6

Contact hours: 28

Course Syllabus

Abstract

The course provides students with fundamentals of economics necessary to pass further courses related to environmental issues. The course consists of two parts: microeconomics and macroeconomics. The part devoted to microeconomics consists of such topics as consumer behavior theory, monopoly and price discrimination, oligopoly, etc. Special attention is paid to market failures (externalities) and regulation of public goods. The part on macroeconomics demonstrates the instruments of economic analysis of various macroeconomic policy problems. It examines the problems of business cycle in a closed and open economy, as well as the problems of long-term economic growth (based on Solow and endogenous economic growth’s models). Much attention is paid to the analysis of the mechanisms and consequences of stabilization policies in a closed economy (fiscal, monetary, and redistributive) and in an open economy (fiscal, monetary, and foreign exchange) and to the assessment of their comparative effectiveness.