Macroeconomics, Group B

1. Introduction and Goods Market Equilibrium
2. Financial Market Equilibrium
3. IS/LM - Model
4. Labour Market Equilibrium
5. Philips Curve, the Natural Rate of Unemployment, and Inflation
6. From the Short to the Medium Run Equilibrium

The main objective of the course is to help students to understand contemporary macroeconomic events and issues in an informed and analytical way. The course focuses on aggregate markets and aggregate variables such as gross domestic output, unemployment, inflation, interest rate etc. Simplified models with only a limited amount of markets such as the aggregate goods market, the financial market and the labour market are the focus of the analyses instead of particular markets, e.g., the market for cars. Macroeconomic theory helps to understand how isolated firms are affected by the business cycle and the economic environment. It also contributes to profound analyses of a wide range of current economic problems and policy dilemmas.

Frenkel, M., John, K.D. and Fendel, R., Volkswirtschaftliche Gesamtrechnung, 8th Edition, München, Vahlen Verlag, 2016.Blanchard, O., Macroeconomics, 8th Edition, Pearson Prentice Hall, New Jersey, 2020. Mankiw, N.G., and Tylor, M.P., Macroeconomics, European Edition, Worth Publishers, 2nd ed., New York 2014. Blanchard, O., Amighini, A. and Giavazzi F., Macroeconomics - A European Perspective, 3rd Edition Pearson Prentice Hall, New Jersey, 2017.

Exam

Grundlagen der Marktwirtschaft

90