Macroeconomics

obowiązkowe

The objective of the course is to give students the ability of: extending their knowlede on the selected macroeconomic models and theories which allows to explain the most relevant issues of modern macroeconomics, including macroeconomic policy instruments that can be implemented to reduce inflation, unemployment, income inequality etc

1. Introduction: Macroeconomics as a science

2. Market mechanism and visible hand of government. The tools of Macroeconomic policy.

3. Measurement of economic performance (Gross Domestic Product and National Income Concept)

4. Aggregate demand and supply. Macroeconomic equilibrium. Classical and Keynesian view

5. The theory of consumption and investment

6. The theory of growth (neoclassical and new growth theories)

7. The theory of business cycles

8. The role of the state in economy - from the point of view of the different economics schools (Keynes’s, Neoclassical and Institutional opinions)

9. Money and banking. The financial system and real economy

10. Monetary policy and macroeconomic effects (Keynesian, Monetarist and New Classical viewpoint)

11. Fiscal policy/Public sector/Budget Deficits (macroeconomic viewpoints - discretionary fiscal policy, supply-side policies, government size and growth, government expenditure patterns, types of taxation)

1. N. G. Mankiw, Macroeconomics, Macmillan Education, New York 2016.

2. P.Krugman, R. Wells, Macroeconomics, Worth Publishers : A Macmillan Education Imprint, cop., New York 2015.

3. P. A. Samuelson, W. D. Nordhaus. Macroeconomics, McGraw-Hill/Irwin. McGraw-Hill Higher Education, Boston 2010.

4. M. Parkin Macroeconomics, Pearson Education,Boston 2010.

5. R. J. Rossana, Macroeconomics, Routledge, Taylor & Francis Group, London&New York 2011.

6. A.L. Hillman, Public finance and public policy, Cambridge University Press 2009.

Knowledge

1MAC_K01: Student knows economic terminology, uses the economic language and macroeconomic categories, understands the key relations between them (economic laws) - E1A_W02

1MAC_K02: Student has the extended knowledge on the principals of economic systems functioning - E1A_W04, E1A_W03, E1A_W07

1MAC_K03: Student has in-depth knowledge on the causes of the changes taking place in the business environment which are the result of the current macroeconomic situation and state intervention - E1A_W03,

E1A_W05, E1A_W06

Skills

1MAC_S01: Student is able to correctly interpret socio-economic phenomena and relations between them referring to the different areas of ​​macroeconomics - E1A_U02, E1A_U05, E1A_U10, E1A_U11, E1A_U24

1MAC_S02: Student is able to use macroeconomic models in the analysis of modern economic phenomena and processes; independently interprets the statistical data used in modeling and the obtained macroeconomic relationships -E1A_U01, E1A_U14

1MAC_S03: Student is able to understand macroeconomic texts and formulate his views on macroeconomic processes, also related to the influence of the state on the economy - E1A_U17, E1A_U19, E1A_U20, E1A_U21, E1A_U22

Competences

1MAC_C01: student is aware of the possessed knowledge and the need to constantly expand knowledge in the scope of macroeconomics - E1A_K01

1MAC_C02 : Student uses the acquired knowledge to propose solutions and independently solve specific macroeconomic problems - E1A_K02

Lectures: preparation of the paper on the selected topic

Lessons: evaluation of student activity and his individual work