Макроэкономика (экономическая теория)

Бакалавриат 2019/2020

Статус: Курс по выбору (Востоковедение)

Направление: 58.03.01. Востоковедение и африканистика

Кто читает: Департамент экономики

Где читается: Санкт-Петербургская школа социальных наук

Когда читается: 3-й курс, 1 модуль

Формат изучения: без онлайн-курса

Преподаватели: Розмаинский Иван Вадимович

Язык: английский

Кредиты: 3

Контактные часы: 32

Full Syllabus

Abstract

Macroeconomics as the part of economics is the study of human choice in the conditions of the deep interdependency of people; and the most part of economics is about interactions of people under the regime of market capitalism. In the beginning of the course we will spend time for analyzing this one and some other economic systems, and consider demand and supply analysis. Furthermore, we will discuss both advantages of the market system and its defects: we will speak about various types of market failures. The government can play the important role by dealing with market failures but its activities can generate different kinds of government failure. After discussing micro level problems we will turn to macro dimension of economics, and it will be the essential part of the course. This dimension is about economic variables like GDP, consumption, investment, inflation, and the rate of unemployment. Another major objective of macroeconomics is to explain the determinants of economic growth and development in the long run. In the short run en economy experiences nominal rigidities (sticky prices and wages) and expectational errors (differences between actual and expected prices). ). Rigidities and expectations make nominal aggregate demand, which could fluctuate because of some shock, affect real economic activity such as output and unemployment. Therefore, it is necessary to engage in aggregate demand management in order to stabilize the economy. We will study such stabilization policies (fiscal and monetary) and the most efficient ways of performing them. In the long run, economy’s output is a function of productive capacity (capital and labor inputs) as well as technologies (methods of transforming these resources into output) and institutions (laws and informal rules). We will discuss opportunities and limitations of economic growth. And finally we will make an introduction to the international macroeconomics.

Learning Objectives

study of human choice in the conditions of the deep interdependency of people; and the most part of economics is about interactions of people under the regime of market capitalism.

Expected Learning Outcomes

Understand main features of the capitalism and other economic systems
Understand building blocks of the demand and supply model
Know the main forms of market failures and government failures
Understand the building blocks of the aggregate demand and aggregate supply model
Understand causes of inflation and effects of anti-inflationary policy
Understand the reason for short-run stabilization policy being welfare-improving
Know main forms of stabilization policies (fiscal and monetary), and be able to describe their effects graphically
Understand the main driving forces of the economy in the long run: Factor accumulation and technical progress
Know main properties of the labor market functioning and causes of unemployment.
Understand causes of exchange rate fluctuations

Course Contents

Money, Banking and Monetary Policy
He we will discuss money, banking and monetary policy. We will talk about the nature of contemporary money; we will analyze how commercial banks create money, and how the central bank can make regulations. We solve the exercises

Assessment Elements

activity in class
in-class test
final exam

Interim Assessment

Interim assessment (1 module)
0.6 * final exam + 0.2 * in-class test + 0.2 * activity in class

Bibliography

Recommended Core Bibliography

Jones, P. M., & Enders, W. (2016). The Asymmetric Effects Of Uncertainty On Macroeconomic Activity. Macroeconomic Dynamics, (05), 1219. Retrieved from http://search.ebscohost.com/login.aspx?direct=true&site=eds-live&db=edsrep&AN=edsrep.a.cup.macdyn.v20y2016i05p1219.1246.00

Recommended Additional Bibliography

Julio Davila, Julio Dávila, & Core Uclouvain. (2009). Issn: 1955-611Xthe Taxation of Savings in Overlapping Generations Economies with Unbacked Risky Assets. Retrieved from http://search.ebscohost.com/login.aspx?direct=true&site=eds-live&db=edsbas&AN=edsbas.7C110562

Course Syllabus