National University of Singapore BMA5011: Macroeconomics in the Global Economy Semester 1, AY2012/2013 Instructor: Sun Bae Kim Teaching Assistant: Jiang Bo Course objective This course has two objectives.
The first is to introduce MBA students to the basic tools (“core models”) of macroeconomics and international economics. The course begins with the short run analysis of business cycle dynamics (how output, employment, interest rate and price are determined) and the role of stabilization policy. It then moves on to the long run analysis of what drives economic growth. The final segment of the course extends these analyses to the open economy. Key issues covered here include the determination of exchange rate in the short- and the long run, the effectiveness of monetary and fiscal policy under high capital mobility, how economic “shocks” are transmitted internationally and what policy can achieve in response.
The second objective of the course is to link the basic insights of the “core models” to “real life” or case studies, with special focus on Asia. The aim here is to demonstrate that economics can be a powerful tool to understand and, possibly anticipate, key macroeconomic events and developments and their feedback mechanism to policy and financial markets.
Class participation (15%)
In-class exams (70%)
Exam 1 (30%): October 9, 2012
Exam 2: (40%) November 20, 2012
Olivier Blanchard, Macroeconomics, Fifth Edition (International Edition 2011), Pearson