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Regular version of the site
Bachelor 2020/2021

Economics

Type: Compulsory course (Asian and African Studies)
Area of studies: Asian and African Studies
When: 2 year, 3 module
Mode of studies: distance learning
Instructors: Ivan V. Rozmainsky
Language: English
ECTS credits: 4

Course Syllabus

Abstract

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.
Learning Objectives

Learning Objectives

  • 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).
Expected Learning Outcomes

Expected Learning Outcomes

  • Know the main forms of market failures and government failures
  • Understand building blocks of the demand and supply model
  • Understand main features of the capitalism and other economic systems
  • Know main forms of stabilization policies (fiscal and monetary), and be able to describe their effects graphically
Course Contents

Course Contents

  • Economic Systems: Markets, Directives, etc.
  • The Fundamentals of Demand and Supply Analysis
  • Market Failures and Government Failures
  • The Foundations of Macro Analysis: Determination of GDP
  • Short-Run Macro Dynamics: Business Cycles, Unemployment and Inflation
  • Long-Run Macro Dynamics: Economic Growth and Technical Progress
  • Introduction to International Macroeconomics
Assessment Elements

Assessment Elements

  • non-blocking Test №1
  • non-blocking Test №2
  • non-blocking Exam
Interim Assessment

Interim Assessment

  • Interim assessment (3 module)
    0.6 * Exam + 0.2 * Test №1 + 0.2 * Test №2
Bibliography

Bibliography

Recommended Core Bibliography

  • Бойцова Е. Ю., Вощикова Н. К. - МИКРОЭКОНОМИКА И МАКРОЭКОНОМИКА: АКТУАЛЬНЫЕ ПРОБЛЕМЫ. Учебник и практикум для вузов - М.:Издательство Юрайт - 2019 - 249с. - ISBN: 978-5-534-11175-0 - Текст электронный // ЭБС ЮРАЙТ - URL: https://urait.ru/book/mikroekonomika-i-makroekonomika-aktualnye-problemy-444718
  • Липсиц И.В. - Микроэкономика. Макроэкономика (для бакалавров) - КноРус - 2018 - 608с. - ISBN: 978-5-406-06027-8 - Текст электронный // ЭБС BOOKRU - URL: https://book.ru/book/927819

Recommended Additional Bibliography

  • Бланшар О. - Макроэкономика - Издательский дом Высшей школы экономики - 2015 - 671с. - ISBN: 978-5-7598-1242-5 - Текст электронный // ЭБС ЛАНЬ - URL: https://e.lanbook.com/book/100208
  • Носова С.С. - Микроэкономика. Макроэкономика (для бакалавров) - КноРус - 2018 - 468с. - ISBN: 978-5-406-02958-9 - Текст электронный // ЭБС BOOKRU - URL: https://book.ru/book/926736