Course outline - Macroeconomics-2, 2nd module, first 7 classes, instructor -V. Popov
This is the continuation of Macro-1 course. The goal of the second module is to analyze short-run fluctuations and government macroeconomic policy. The first part of Macro-2 (first 7 classes) would be devoted to the discussion of the multiplier and aggregate demand, the IS-LM model for the closed and open (Mundell-Fleming model) economy. Links with the AD-AS model that was discussed in Macro-1 course would be emphasized.
Texts for the course:
Mankiw, N. Gregory, "Macroeconomics," Worth Publishers, New York, 2007
Sixth edition, further denoted Mankiw.
Dornbush, R., Fisher, S. Macroeconomics. Fifth Edition, McGraw Hill, 1990, further denoted D&F.
Jeffrey D. Sachs and Felipe Lаrrain B., Macroeconomics in the Global Economy, Prentice-Hall, Inc., first edition, 1993, further denoted S&L.
Grading system
After the first three weeks (6 classes) there would be a mid-term exam. The grade for the course would be the average of grades for the mid-term and the final (50% weight each).
Tentative schedule
1. Aggregate Demand Components and Their Determinants: A Brief Review. Macroeconomic Policies and Output Determination: Closed Economy – Mankiw, 9-11 (S&L, Ch.12, D&F, Ch.4, 5) [3 lectures]
2. Macroeconomic Policies in the Open Economy: Fixed Exchange Rates - Mankiw, 12 (S&L, Ch.13, D&F, Ch.6) [1-2 lectures]
3. Macroeconomic Policies in the Open Economy: Flexible Exchange Rates - Mankiw, 12 (S&L, Ch.14, D&F, Ch.6) [1-2 lectures]
4. In-class mid-term
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