The course provides an integrated, global view of macroeconomics and a unified view of the latest macroeconomic events, enabling students to see the connections between goods markets, financial markets, and labor markets worldwide. It contains a core section that focuses on short-, medium-, and long-run markets and two major extensions that offer more in-depth coverage of the issues at hand. It helps students make sense not only of current macroeconomic events but also of those that may unfold in the future.

The goal of mastering the discipline

To make students close contact with current macroeconomic events and to provide an integrated view of modern macroeconomics

The skills you get

  • By the end of the course the students will know: • What is happening around the world, from the major economic crisis which has engulfed the world since 2008, to monetary policy, to the problems, to growth in major economies. • Macroeconomic models that draws the implications of equilibrium conditions in three sets of markets: the goods market, the fnancial markets, and the labor market. The students will be able to: • make sense of economic events and apply macroeconomic models to analyze them. The students will have the experience in: • discussions of economic developments and concepts and results of economic policy

Topics covered

  • 1. Introduction. A tour of the World. 2. Aggregate output, Unemployment and the Inflation rate. 3. The goods market equilibrium. 4. Financial markets I. 5. The IS-LM model. 6. Financial market II: The Extended IS-LM model. 7. The Labor market. 8. The Phillips Curve, the natural rate of unemployment and Inflation. 9. The IS-LM-PC model. 10. The facts of economic Growth. 11. Saving, Capital accumulation and Output. 12. Technological progress and Growth. 13. Technological progress, productivity and unemployment. 14. Expectations, Consumption and Investment. 15. Expectation, Output and economic Policy. 16. Openness in goods and financial markets. 17. The goods market equilibrium in the open economy. 18. Output, the Interest rate and the Exchange rate.

When instructed

  • 1st year, 2nd semester

List of references and sourses

Blanchard O., Macroeconomics. — 7th (global) (8th) edition.  Pearson education, 2017, 2020.