This module covers theoretical models on business cycle fluctuations and growth, inflation, and unemployment at an intermediate to advanced level. It provides an overview of the most critical macroeconomic topics and introduces students to important concepts for more advanced macroeconomics studies and practical work in this field.
This module covers theoretical models on business cycle fluctuations and growth, inflation, and unemployment at an intermediate to advanced level. It provides an overview of the most critical macroeconomic topics and introduces students to concepts that are important for more advanced studies of macroeconomics and practical work in this field. The focus of this module is on aggregate models without micro-foundations. The course will integrate the financial system with a model of the macro-economy. In doing this, it takes account of the gaps in the mainstream model exposed by the financial crisis and the Eurozone crisis. This equips the students with a realistic modelling framework to analyse the economy both in crisis times and in periods of stability.
- You learn how to work with macroeconomic models at an intermediate to advanced level.
- You get an overview of critical macroeconomic topics and facts.
- You acquire knowledge that is necessary to understand financial crises, their unfolding, and possible solutions.
- You acquire sound theoretical foundations for macroeconomic policy analysis.
Students will need excellent English skills and the willingness to deal with mathematical economic models. Knowledge of macroeconomic models and concepts at the principles to intermediate level is expected. We recommend the reading of the following chapters before the start of the course to familiarize with the style of the book and to make a recap of the most crucial concepts needed to progress on the course.
- Chapter 1, “The demand side.”
- Chapter 2, “The supply side.”
From the textbook: Carlin W., Soskice D., (2015) Macroeconomics. Institutions, Instability, and the Financial System. Oxford University Press.
Infomaterial (PDF Download):
This module consists of lectures, tutorials and Q&A sessions.
Participants: no restriction
Please note: Attending the lectures will help you understand the material
and also help students gauge what is important for the exam. This does
not imply exam’s questions will only come from lectures, only that in class
the lecturer will cover the more challenging material from the relevant
material (i.e., the textbook) recommended for the course. Students are
responsible for the information in the recommended material AND in the
Assessment: 1 written assessment will take place through Moodle. The assessment will
count for 30% of the final grade. Further details will be provided in due
Time and place:
Lecture: Friday, 10-12 h (Recorded video lecture)
Q&A: Tuesday, 12-14 h (HZO 90)
Start: April, 11th 2023 (Introduction to the course)
Intermediate assessment date: 16.05.2023 (12:00 - 12:30h)
Exam Registration: via FlexNow.
Resit exam in the Winter Semester 2023: written exam (90 minutes), the date and further
details will be announced in due time.
Resit Exam Registration: via FlexNow, details will be announced in due time.
This module contains 120 hours of self-study. You are expected to prepare the lecture by
reading the relevant chapters of the textbook.
It is strongly recommended to acquire the following textbook (it is also available for rent in
the university library and in the reference holdings of the department library of economics):
Carlin W., Soskice D., (2015) Macroeconomics. Institutions, Instability, and the Financial
System. Oxford University Press
Further literature and information will be provided on Moodle.
The preliminary course schedulee can be found in the course outline (PDF)
Any change will be announced on Moodle in due course.