Instructors:	Dott.ssa Cristiana Zanzottera
Type:	PI
Weekly hours:	2
Members (max.):	15
Registration period:	09/18/09 to 10/06/09

Class objective(s) (learning outcomes)

The aim of this course is to provide students with an appreciation of the main macroeconomic processes at work within countries that are integrated into the world economy to different degrees, thus preparing students for their future roles in business, politics, and civil society.

After successful completion, students will be able to analyse real world macroeconomic issues, such as the effects of different economic policy instruments, the choice of exchange rate regimes, or the problem of unemployment.

To this end, the course will provide students with a thorough understanding of the workhorse models of macroeconomics – the Mundell-Fleming and AS-AD models – commensurate to the intermediate undergraduate level.

Prerequisites according to degree program

The course belongs to Part II of the Bachelor Program Business, Economics and Social Sciences

Teaching and learning method(s)

Lectures, Presentation, class discussions, homework

In case of restricted admission; selection criteria

Prerequisites: knowledge of the IS-LM model, e.g. chapters 1 to 5 of Blanchard, Olivier (2009): Macroeconomics. 5th Edition, Pearson Education (or equivalent)

Criteria for successful completion

Mitarbeit, Prüfung

Availability of instructor(s) for contact by students

mailto:cristiana.zanzottera@wu-wien.ac.at

Miscellaneous

All information regarding the "International Macroeconomics" courses, including exams and grades can be found under https://learn.wu-wien.ac.at/ (requires password and student ID number)

Day	Date	Time	Room
Thursday	10/08/09	03:00 PM - 05:15 PM	SR XI (Kolpinghaus)
Thursday	10/15/09	03:00 PM - 05:15 PM	SR XI (Kolpinghaus)
Thursday	10/22/09	03:00 PM - 05:15 PM	SR XI (Kolpinghaus)
Thursday	10/29/09	03:00 PM - 05:15 PM	SR XI (Kolpinghaus)
Thursday	11/05/09	03:00 PM - 05:15 PM	SR XI (Kolpinghaus)
Thursday	11/12/09	03:00 PM - 05:15 PM	SR XI (Kolpinghaus)
Thursday	11/19/09	03:00 PM - 05:15 PM	SR XI (Kolpinghaus)
Thursday	11/26/09	03:00 PM - 05:15 PM	SR XI (Kolpinghaus)
Thursday	12/03/09	03:00 PM - 05:15 PM	SR XI (Kolpinghaus)
Thursday	12/10/09	03:00 PM - 05:15 PM	SR XI (Kolpinghaus)
Thursday	12/17/09	03:00 PM - 05:15 PM	SR XI (Kolpinghaus)
Thursday	12/17/09	07:30 PM - 09:00 PM	Ort nach Ankündigung
Monday	12/21/09	03:00 PM - 04:30 PM	Ort nach Ankündigung

The course expands on the closed-economy IS-LM model, that students are expected to know from their first macroeconomics course, in two ways. First, to integrate the labour market, the AS-AD model is introduced. Second, both the IS-LM and the AS-AD model are considered in an open-economy setting, highlighting the differences between fixed and flexible exchange rate regimes. Case studies will be used to apply these models to real world issues.

Unit	Contents
1	Revision of the Goods and Financial Markets: The IS-LM Model; Blanchard: chapter 5
2	The Labour Market; Blanchard: chapter 6
3	Putting All Markets Together: The AS-AD Model; Blanchard: chapter 7
4	Putting All Markets Together: The AS-AD Model; Blanchard: chapter 7
5	Unemployment in Europe; Blanchard: pp. 282-4
6	Revision for mid-term exam and AS-AD in growth rates; Blanchard: ch. 8, 9.1 and 9.2
7	Mid-term exam and AS-AD in growth rates; Blanchard: ch. 8, 9.1 and 9.2
8	The Open Economy; Blanchard: chapter 18
9	The Goods Market in an Open Economy; Blanchard: chapter 19
10	Output, the Interest Rate, and the Exchange Rate; Blanchard: chapter 20
11	Exchange Rate Regimes; Blanchard: chapter 21

Blanchard, Olivier: Macroeconomics, Prentice Hall, 5, 2009; Content relevant for class examination: Ja; Content relevant for degree examination: Keine Angabe; Recommendation: Unbedingt notwendige Studienliteratur für alle Studierenden