| Instructors: | Veronica Cinti, MSc. |
| Type: | PI |
| Weekly hours: | 2 |
| Members (max.): | 35 |
| Registration period: | 09/14/10 to 10/01/10 |
- Class objective(s) (learning outcomes)
- Goal:
The aim of this course is to provide the students with the knowledge required to understand the macroeconomic functioning of the world economy and to give them the instruments to develop a personal and critical idea about the operation of international markets and the use of economic policy.
- Prerequisites according to degree program
- Available to:
The course is for students in part II of the bachelor program "Business, Economics and Social Sciences".
Exchange students are very welcome to join. - Teaching and learning method(s)
- Teaching and learning methods:
The course will be composed by traditional lectures, class discussions and activities, individual work and practice problems.
- In case of restricted admission; selection criteria
- Prerequisite:
Knowledge of the IS-LM model, e.g. chapters 1 to 5 of Blanchard, "Macroeconomics", Pearson Education
- Criteria for successful completion
- Assessment:
Mid-term exam, final exam, individual work.
- Availability of instructor(s) for contact by students
- Lecturer´s contact:
For any inquiry please contact me at mailto:vcinti@wu.ac.at
- Miscellaneous
- Miscellaneous:
One of these two equivalent textbooks can be used during the course:
1-Blanchard, "Macroeconomics", Pearson Education, 5th edition.(The 4th edition can be used, but not previous ones)
2-Blanchard, Amighini, Giavazzi, "Macroeconomics-A European Perspective", Financial Times/ Prentice Hall, 1st edition.
For booked-out courses, a waiting list will be provided on the learning platform (see news section: https://learn.wu.ac.at/dotlrn/classes/imabakk/news/). Please do not place your name on this list before the course is full (earlier placements will not be considered). Any vacant places in the course will only be allocated through the waiting list NOT via email or phone.
Note: We will not take into consideration any placements on the waiting list by students who have already secured a place in one of the courses through the regular registration process on LPIS.
| Day | Date | Time | Room |
|---|---|---|---|
| Wednesday | 10/06/10 | 10:00 AM - 12:00 PM | H 2.22 (B) |
| Wednesday | 10/13/10 | 10:00 AM - 12:00 PM | H 2.22 (B) |
| Wednesday | 10/20/10 | 10:00 AM - 12:00 PM | H 2.22 (B) |
| Wednesday | 10/27/10 | 10:00 AM - 12:00 PM | H 2.22 (B) |
| Wednesday | 11/03/10 | 10:00 AM - 12:00 PM | H 2.22 (B) |
| Wednesday | 11/10/10 | 10:00 AM - 12:00 PM | H 2.22 (B) |
| Wednesday | 11/17/10 | 10:00 AM - 12:00 PM | H 2.22 (B) |
| Wednesday | 11/24/10 | 10:00 AM - 12:00 PM | H 2.22 (B) |
| Wednesday | 12/01/10 | 10:00 AM - 12:00 PM | H 2.22 (B) |
| Friday | 12/03/10 | 11:30 AM - 01:30 PM | H 2.22 (B) |
| Wednesday | 12/15/10 | 10:00 AM - 12:00 PM | H 2.22 (B) |
| Wednesday | 12/22/10 | 10:00 AM - 12:00 PM | H 2.22 (B) |
| Wednesday | 01/12/11 | 10:00 AM - 12:00 PM | H 2.22 (B) |
| Wednesday | 01/19/11 | 10:00 AM - 12:00 PM | H 2.22 (B) |
| Monday | 01/24/11 | 02:00 PM - 04:30 PM | H 2.22 (B) |
Course description:
Firstly financial and goods markets will be analyzed through the IS-LM model in the closed economy , for a subsequent study of the same model in the open economy. We will then investigate the role of the economic policy in the open economy, proceeding with a focus on the labour market before the introduction of the AS-AD model. After that, we will study the exchange rate regimes; moreover we will have a focus on political economy and on the crisis of 2007-2010.
| Unit | Date | Contents |
|---|---|---|
| 1 | 06.10.2010 |
Introduction GDP and macroeconomic variables; short,medium and long run (Review). Chapter 2 (Blanchard, Macroeconomics / Blanchard, Macroeconomics-A European Perspective) Goods and Financial Markets: The IS-LM Model Chapter 5 (Blanchard, Macroeconomics / Blanchard, Macroeconomics-A European Perspective) |
| 2 | 13.10.2010 |
Goods and Financial Markets: The IS-LM Model Chapter 5 (Blanchard, Macroeconomics / Blanchard, Macroeconomics-A European Perspective) |
| 3 | 20.10.2010 |
The IS-LM model in an Open Economy (Part 1) Chapter 18/19 (Blanchard, Macroeconomics) OR Chapter 6 (Blanchard, Macroeconomics-A European Perspective) |
| 4 | 27.10.2010 |
The IS-LM model in an Open Economy (Part 2) Chapter 18/19 (Blanchard, Macroeconomics) OR Chapter 6 (Blanchard, Macroeconomics-A European Perspective) |
| 5 | 03.11.2010 |
Economic Policy in an Open Economy Chapter 19 (Blanchard, Macroeconomics) OR Chapter 18 (Blanchard, Macroeconomics-A European Perspective) |
| 6 | 10.11.2010 | Mid-term exam |
| 7 | 17.11.2010 |
The Labor Market Chapter 6 (Blanchard, Macroeconomics) OR Chapter 7 (Blanchard, Macroeconomics-A European Perspective) |
| 8 | 24.11.2010 |
Putting All Markets Together: The AS-AD Model (Part 1) Chapter 7 (Blanchard, Macroeconomics) OR Chapter 8 (Blanchard, Macroeconomics-A European Perspective) |
| 9 | 03.12.2010 |
THE LECTURE TAKES PLACE AT 11:30-13:30 IN 2.22 Putting All Markets Together: The AS-AD Model (Part 2) The Phillips Curve |
| 10 | 15.12.2010 |
Exchange Rate Regimes Chapter 21 (Blanchard, Macroeconomics) OR Chapter 19 (Blanchard, Macroeconomics-A European Perspective) |
| 11 | 12.01.2011 |
Topics in Political Economy Learning material will be supplied |
| 12 | 19.01.2011 |
The crisis of 2007-2010 Chapter 20 (Blanchard, Macroeconomics-A European Perspective) |
Blanchard, Amighini, Giavazzi: Macroeconomics-A European Perspective, Financial Times/ Prentice Hall, 1st edition, 2010; Content relevant for class examination: Ja; Content relevant for degree examination: Keine Angabe; Recommendation: Unbedingt notwendige Studienliteratur für alle Studierenden
Blanchard, Olivier: Macroeconomics, Pearson education, 5th edition, 2008; Content relevant for class examination: Ja; Content relevant for degree examination: Keine Angabe; Recommendation: Unbedingt notwendige Studienliteratur für alle Studierenden
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