DEC-22306 Macroeconomics & Policy

Course

Credits 6.00

Teaching methodContact hours
Lecture14
Tutorial6
Group work12
Independent study
Course coordinator(s)dr. JG Klomp
Lecturer(s)dr. JG Klomp
Examiner(s)dr. JG Klomp

Language of instruction:

Dutch

Assumed knowledge on:

ECH-10406 Microeconomics and Behaviour; DEC-21806 Macroeconomics and International Trade.

Continuation courses:

ECH-21806 Microeconomics; ENR-22306 Public Sector Economics; ENR-21806 Environmental Economics in Practice.

Contents:

This course deals with the subject of macroeconomics for a closed economy. It establishes the major determinants of national income, unemployment, and inflation and investigates the policies that can improve the macroeconomic performance of a national economy. The focus is on both theory and policy. Topics are: how can we stabilise the short-run fluctuations of an economy? How can we promote economic growth? How can we fight inflation, or reduce unemployment? In addition, the course deals with the major social-economic problems and recent developments of the Dutch economy and a number of related government policies, all within a European setting.

Learning outcomes:

After successful completion of this course students are expected to be able to understand and apply the basic principles of macroeconomics of a closed economy. In particular they are expected to be able to:
- measure (in a conceptual way) national income, inflation, and unemployment;
- employ the Keynesian model, the Classical model, and the Solow model for studying the business cycle and economic growth;
- analyse the effects of fiscal policy and monetary policy in both the short and the long run;
- understand the role of money and the sources of inflation;
- understand the money market;
- apply the principles of macroeconomics to recent debates about the Dutch economy such as the economic consequences of the ageing population.

Activities:

- hearing lectures on the course materials;
- practicals in which students make exercises on the course materials and write and present a paper.

Examination:

- reports on 2 assignments, each 15%;
- written exam with open questions (70%).

Literature:

Mankiw, N.G.; M.P. Taylor. (2008). Macroeconomics. European Edition Worth Publishers. 632p. ISBN-10: 0716773694.

ProgrammePhaseSpecializationPeriod
Compulsory for: BEBEconomics and GovernanceBSc6MO