Delivered at:: School of Economics and Finance

Course type:: Compulsory course

When:: 2 year, 3, 4 module

Instructor

Suslova, Svetlana V.

Full Syllabus

Abstract

“Macroeconomics II” is the extension of the course “Macroeconomic” completed by first-year students. The aim of “Macroeconomics II” is to expand knowledge of the principles of a national economy operating. It focuses on features of an open economy, and consists of the topics covered by the course in the light of linkages between a national economy and other countries. This course examines a wide range of main concepts of a national economy that are a national income, the principles of the open economy, the monetary system, government budget and debt, aggregate demand, the principles of the labor market and aggregate supply, unemployment and inflation, economic growth, economic fluctuations and business cycles. The goals of the course are for students to know what factors influence the dynamics of aggregate demand and supply, to know the relationship between the national economy and the rest of the world, to understand the sources of macroeconomic instability, to know the mechanisms of economic growth and business cycles, and to understand the principles of economic agent behavior. The course will cover a broad range of topics in monetary and fiscal policy. The essential component of the course is self-study which includes fulfilling the research tasks. Students explore official statistics using the statistical package R to determine trends and sources of economic growth in different countries. Consultations are given via MS Teams; all files are uploaded into LMS.

Learning Objectives

Upon successful completion of the course, the student should be able to demonstrate understanding how relationships with other countries affect a national economy performing and to evaluate effects of economic policies. They should be able to analyze determinants of the exchange rate and interest rates, changing in output and prices, factors of the economic growth, and models of consumer behavior and investments.
Students will obtain better understanding regarding relationship between the dynamics of macroeconomic indicator in different countries, effects of economic policy on macroeconomic sustainability, and changing in economic actors’ behavior.

Expected Learning Outcomes

Knowledge of such characteristics of an open economy as the balance of payments principles and determinants of the exchange rate.
Knowledge of the determinants and models of economic growth.
Knowledge of what factors influence the dynamics of aggregate demand and causes economic fluctuations.
Knowledge of what factors influence the dynamics of aggregate supply.
Skills in analyzing effects of economic policy on macroeconomic sustainability.
Skills in analyzing reasons for economic fluctuations and mechanisms of achieving the general equilibrium in an economy, understanding the sources of macroeconomic instability.
Understanding the principles of economic agent behavior.

Course Contents

The open economy: general characteristics
Aggregate demand
Aggregate supply
Economic fluctuations
Consumption and investments
Economic growth
Economic Policy Issues

Assessment Elements

Тест 1
Тест 2
Аудиторная работа
Самостоятельная работа
Экзамен

Interim Assessment

2022/2023 4th module
0.18 * Аудиторная работа + 0.4 * Экзамен + 0.12 * Тест 2 + 0.18 * Самостоятельная работа + 0.12 * Тест 1

Bibliography

Recommended Core Bibliography

Blanchard, O. (2017). Macroeconomics, Global Edition (Vol. Seventh edition). Harlow, UK: Pearson. Retrieved from http://search.ebscohost.com/login.aspx?direct=true&site=eds-live&db=nlebk&AN=1426555
Fernando de Holanda Barbosa. (2018). Macroeconomic Theory. Springer. Retrieved from http://search.ebscohost.com/login.aspx?direct=true&site=eds-live&db=edsrep&AN=edsrep.b.spr.sprbok.978.3.319.92132.7

Recommended Additional Bibliography

Advanced Macroeconomics, Romer D., 2006

Bachelor’s Programme 'Economics'

Macroeconomics 2