Master
2023/2024
Macroeconomics (Advanced Level)
Type:
Elective course (Statistical Analysis in Economics)
Area of studies:
Economics
Delivered by:
Department of Theoretical Economics
Where:
Faculty of Economic Sciences
When:
1 year, 1, 2 module
Mode of studies:
offline
Open to:
students of one campus
Master’s programme:
Statistical Analysis in Economics
Language:
English
ECTS credits:
6
Contact hours:
82
Course Syllabus
Abstract
This course along with Econometrics and Advanced Microeconomics forms the core trinity of compulsory disciplines that provide theoretical background for the master’s program in economics at the HSE Faculty of Economic Sciences. The one-semester course is taught in English in the 1st and 2nd modules to the first-year graduate students. The course focuses on selected topics which are central to modern macroeconomics, like the short-run economic fluctuations, stabilization policies in the medium-run, long-run economic growth, as well as political economy issues of macroeconomic policies. Both basic and more advanced theoretical models and analytical techniques are widely used in the course but are treated as tools for granting insights into important issues, not as ends in themselves. The course aims to develop a model-based way of ‘aggregate thinking’ and make students ready to apply relevant macroeconomic tools in their further studies and professional career
Learning Objectives
- introduce students to widely used macroeconomic theories and their applications
- ensure students can apply macroeconomic analysis using both graphical and algebraic techniques to the study of contemporary and historical economic cases
- develop students’ ability to put their research and professional interests into a broader political and macroeconomic context
- encourage students to question and critically assess existing academic and non-academic literature in their research area from the macroeconomic perspective
- enable students to communicate their ideas using modern internationally recognised professional language of economists
- enable students to critically evaluate modern macroeconomic trends, provide competent reasoning to lead well-grounded discussions
- enhance students' peer-learning through moderation of their collaborative work on a team project on macroeconomic policy
- develop students' skills to present the results of group and individual research projects both orally and in writing
Expected Learning Outcomes
- ILO 1: formulate basic macroeconomic principles and quantify relations between macroeconomic aggregates
- ILO 2: describe the models and methods used in macroeconomic analysis of the short-, medium-, and long-run
- ILO 3: derive closed form solutions to standard macroeconomic problems both algebraically and graphically
- ILO 4: assess the potential and limitations of the macroeconomic models and critically evaluate their applicability
- ILO 5: justify empirical relevance of the macroeconomic models and feasibility of policy recommendations
- ILO 6: evaluate and develop relevant macroeconomic models to illustrate real-life phenomena through applying good group working practices
Course Contents
- Introduction to macroeconomics
- Open economy macroeconomics in the short-run
- Closed economy macroeconomics in the medium-run
- Economic growth
Interim Assessment
- 2023/2024 2nd module0.2 * Essay + 0.3 * Exam + 0.2 * Mid-term test + 0.1 * Quiz + 0.2 * Team project
