Marburg, Germany - Course Descriptions - Macroeconomics

Course Information

Contact Hours and Credits

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Aims and Content:

Many economic questions do not only refer to individuals and companies, but to the national economy as a whole, divided into four sectors: government, household, firms and rest of the world. An objective of the course is to introduce students to macroeconomic phenomena and to explain solutions to important macroeconomic problems. Students learn important theoretical and politico-economic concepts and get familiar with fundamental techniques of analysis in macroeconomics. Many occupations require an elementary understanding of macroeconomic connections.

The module "Macroeconomics I" reviews systematically all important field in macroeconomics, in particular business cycles, growth, unemployment, inflation, government activities, and international economic relations. These phenomena are described and analysed with the help of theoretical concepts. Methodically this course relies on the use of comparative statics and simple dynamic techniques. A special emphasis is on the linkage between macroeconomic theory and empirical economic research as well as the critical discussion of its implications.

Target Group:

Undergraduate students of business administration and economics as well as other students with a minor in economics.

Prerequisites:

Basics of Mathematics

Syllabus:

I. Introduction
1. The science of macroeconomics
2. National accounting
3. Measuring prices

II. The economy in the long run
1. National income
2. Money and inflation
3. The open economy
4. Unemployment

III. Growth theory
1. (Dis-)advantages of growth
2. Solow model
3. Golden rule level of capital
4. Technological progress
5. Empirical evidence and growth politics
6. Modern growth theory

IV. Business cycle theory
1. Introduction to economic fluctuations
2. Aggregate demand

Bibliography:

Course Text:
Mankiw, N.G. (2006), Macroeconomics, 6th edition, New York: Worth Publishers.

Other English textbook:
Gärtner, M. (2003), Macroeconomics, Harlow: Pearson Education.

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