Key words
macroeconomics
Objectives
This course is the extension of the introductory course in the first (bachelor) year. In the course, one underlying model is used, in each subsequent step a simplifying assumption is deleted, such that an integrated view on macroeconomics is provided. Theory as well as real life applications are continuously used to explain what is happening around the world. As such, students should understand macroeconomics as a tool which can be used to get a better understanding of reality (and policy) and which can inform them to make business decisions.
Topics
1. The short run : the goods-market, financial market and IS-LM.
2. The medium run : the labour market, aggregate demand and supply, the Philips curve and inflation.
3. The long run : growth, saving, technological progress, productivity.
4. Extensions to an open economy and the role of expectations.
5. Some topics : unemployment, inflation and transition economics.
Prerequisites
An introcuctory course in (macro)economics
Final Objectives
Knowledge of models and principles of macroeconomics at an advanced level. Ability to use these knowledge to understand and evaluate economic performances and policies.
Materials used
Blanchard, O. (2003), "Macroeconomics", MIT-press
Study costs
The price of the book is about 40 - 50 EURO
Study guidance
After each lecture, weekly office hours, upon appointment
Teaching Methods
General lectures, from time to time exercises. On a voluntary basis: individual paper
Assessment
Closed book written examination - evaluation of paper
Lecturer(s)
Luc VAN OOTEGEM
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