Macroeconomic analysis and policy

Goal

Acquisition of knowledge and skills that will enable students to apply a model-based and systemic approach in analysing the behavior of economies, evaluating the effects of exogenous shocks, and assessing changes in macroeconomic policy across different time periods, under various exchange rate regimes, and in specific economic situations.

Additional info
  1. Macroeconomic models: Goods and money markets: IS-LM model. Expectations and IS-LM model. Labor market: WS-PS model. AS-AD model. Dynamic AS-AD model. Economic growth. Effects of macroeconomic policy.
  2. Open economy macroeconomics: Mundell-Fleming model under fixed and flexible exchange rate regimes. Effects of macroeconomic policy. Policies for external and internal balance.
  3. Disturbances: Depressions and crises, high inflation.
  4. Macroeconomic policy – synthesis and extensions: Fiscal policy. Government budget and macroeconomic performance. Long-term consequences of debt and deficits. Monetary policy. Monetary policy dilemma. Macroeconomic policy debate.
Lectures: 30
Seminars: 0
Exercises: 15
  1. Explain key macroeconomic concepts.
  2. Integrate knowledge about the behavior of fundamental macroeconomic variables and the economy over time.
  3. Evaluate the effects of shocks, expectations, and politico-economic changes on selected macroeconomic variables across different markets, time periods, and/or under different exchange rate regimes.
  4. Select the appropriate mix of macroeconomic policies to address issues of disrupted internal and/or external balance.
Merlin e-learning system
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