Macroeconomics
Lecturer: Anna Donina
Dates: 18.02.2022 – 13.05.2022
Lectures/Seminars: Friday 09:00 – 12:50 (classroom S305)
Office hours: by appointment
Course Objectives
The course is devoted to applications and policy. The major objective of the course is to help students
to understand recent developments in Macroeconomics. Over the semester, students will learn
stylized facts of business cycle fluctuations, economic growth, inflation, and unemployment. Students
will become familiar with macroeconomic data and will learn how to construct and use major
macroeconomic statistics. We will analyse the issues of the open economy such as gains from trade
and implications of different exchange rate regimes. Finally, students will be familiarized with a scope
of policies used to improve macroeconomic performance.
The main textbook:
• Mankiw, N.G. Principles of Economics. 4th ed. Mason: Thomson Higher Education, 2007. 896
s. ISBN 9780324224726.
• Mankiw, N.G. Principles of Macroeconomics.
Pre-requisites
BKE_MAE1, BPE_MAE1.
Grading
Midterm exam: 40 %
The midterm exam will take during regular class on April 8 (tentative date). You are not allowed to
use any textbook, any notes or electronic devises. There will be no make-up for the midterm exam.
Project presentation: 20 %
You will be asked to write an essay where you will pick a country and describe its current state of the
economy using indicators that we have learned during the classes and what was the response of
authorities to cope with the pandemic-induced shock. Once the report is finished, you will prepare
presentation and will present it during class (more details on that to be provided later during the
course).
Final Exam: 40 %
Final exam will take place on May 20th (tentative date). There will be two make-up exams for the final
exam (dates TBA).
Grade distribution:
A: 85 – 100
B: 70 - 84
C: 60 – 69
D: 50 – 59
F: 0 – 49
NOTE: The maximum latter grade in make-up exam is B.
Outline
Lecture 1. Measuring of Nation's Income (Chapter 10)
Lecture 2. Measuring the Cost of Living (Chapter 11)
Lecture 3. Production and Growth (Chapter 12)
Lecture 4. Saving, investment and the financial system (Chapter 13)
Lecture 5. Unemployment and its natural rate (Chapter 14)
Lecture 6. Money, Monetary System, and Inflation (Chapter 15 and 16)
Lecture 7. The Open Economy I (Chapter 17)
Lecture 8. The Open Economy II (Chapter 18)
Lecture 10. The influence of monetary and fiscal policy on aggregate demand (Chapter 20)
Lecture 11. The short-run trade-off between inflation and unemployment (Chapter 21)