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2010/2011  BA-PPI2  Macroeconomics

English Title
Macroeconomics

Course Information

Language English
Point 7,5 ECTS (225 SAT)
Type Mandatory
Level Bachelor
Duration One Quarter
Course Period Third Quarter
Time Table Please see course schedule at e-Campus
Study Board
Study Board for BSc in International Business
Course Coordinator
Mauricio Prado
Main Category of the Course
  • Economics, macro economics and managerial economics

Taught under Open University-Taught under open university.
Last updated on 29 maj 2012
Learning Objectives
After having followed the course the student should be able to:
  • Explain basic macroeconomic terminology (e.g. "growth", "recession", "natural unemployment", "hyper inflation", "trade balance deficit" etc.) in a comprehensive way.
  • Describe how real GDP is determined in the short run, the medium run and the long run.
  • Describe the main determinants of other important macroeconomic variables such as inflation, unemployment, real wage, interest rate, exchange rate etc.
  • Perform simple algebraically calculations related to developments in the main macroeconomic variables.
  • Describe and explain the assumptions and relations of the main macroeconomic models (e.g. the classical model for the economy in the long run, the IS/LM model, the Solow growth model, the AD/AS model, etc.).
  • Illustrate diagrammatically these models, perform policy experiments (like increasing Government Purchases or changing the Money Supply) and interpret verbally what happens when moving from one equilibrium to another.
  • Solve algebraically simple macroeconomic models in order to determine the value of the variables in equilibrium and changes in the variables (national income, interest rate, consumption, investment, etc.).
Examination
Written 4-hours closed book exam
Exam Period May/June
Examination
Written 4-hours closed book exam, graded by internal examiner on the 7-point scale. The make-up and re-examination takes place according to the same rules as the regular examination.
Exam aids: No aids allowed other than basic language dictionaries (e.g. from mother tongue to English and vice versa and English/English) and non-programmable calculators
Prerequisites for Attending the Exam
Course Content

Teaching Methods
Lectures and Exercises.
Literature

N. Gregory Mankiw & Mark Taylor. Macroeconomics. European Edition. Worth Publishers ISBN: 978-0-7167-7369-6 (Chapters 1-14 and 19: 462 pages)