Course aims:

This course provides an overview of macroeconomic issues: the determination of output, employment, unemployment, interest rates, income, consumption and investment.
Also, important policy debates such as, economic growth in the long run, government finances in the intermediate run, and economic stability in the short run, are judgmentally explored.
Finally, monetary, fiscal policies, inflation and world economy are debated.

Course Entry Requirements:

-

Course contents:

CH 1. Fundamental Principles of Macroeconomic Theory CH 2. Economic Growth and Sustainable Economic Development CH 3. Economic Equilibrium CH 4. Income, Consumption and Investment CH 5. Financial Markets CH 6. Labour Economics CH 7. Employment and Unemployment CH 8. The Money Markets CH 9. Inflation CH 10. World Economy and Globalisation

Teaching methods:

Lecturing, Demonstrating, Collaborating (i.e. Classroom discussion, Debriefing, Classroom Action Research), Recitation.

Learning outcomes:

• To provide an introduction to fundamentals of macroeconomics; • The course is intended both for graduate students who wish to develop a solid background in game theory in order to pursue research in the applied fields of economics and related disciplines, and for students wishing to specialize in economic theory; • To give an introduction and to learn, judge, make decisions, have a personal opinion or interpretation to some of the main subjects in this field: economic activity, exchange economy, market economy, production factors, cost production, competition, price, net income.

Learning outcomes verification and assessment criteria:

Written test examination– 70%; Verification during semester – 30%.

Recommended reading:

• Blanchard, Olivier, and David R. Johnson, (2012), ”Macroeconomics”, 6th ed. Pearson, ISBN: 9780133061635;
• Blanchard, Olivier, (2003), ”Macroeconomics”; 3rd ed. Upper Saddle River, N.J.: Prentice Hall, ISBN: 0130671002;
• ADAM SMITH (1920), ”The Wealth of Nations” BOOK I, Chapter IV, page 66; P.F. Collier and son, New York, USA;
• N. Gregory Mankiw, (2015), ”Macroeconomics”, Palgrave Macmillan, Ninth Edition;
• M. Ellman: Review of Kornai: Anti-Equilibrium in Economic Journal December 1972;