SHEB203 Принципи на макроикономиката


This unit aims to introduce students to Macroeconomics by providing students with a detailed analysis of the different macroeconomic issues. Students will be able to formulate valid economic policy suggestions based on the most important macroeconomic models, through the use of scientific tools. Therefore, each student will be able to address valid and documented suggestions of economic policy which will be scientifically verified. Through the material covered the student will acquire the basic macroeconomic knowledge that will support future decisions on economic issues and will enhance her/his skills with respect to the application, analysis, synthesis and evaluation of the various macroeconomic phenomena.

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Бизнес икономика (съвместна програма с университета в Йорк)


 Ефи Василео  д-р
доц. Стефан Стефанов  
гл. ас. Елена Спасова  д-р

Описание на курса:


Students who complete this course:

1) will know:

• the basics and the most important special issues of Macroeconomics

• Introduce students to international trade, comparative advantage, protectionism, financial crises, stabilisation and deficits

2) will be able to:

• Explore economic growth, money and inflation, interest rates

• Analyse aggregate demand and supply, and the IS-LM framework

• Discuss and critically evaluate the Phillips curve, consumption function theory, investment function theory, money demand function

Предварителни изисквания:
Students are required to have the following knowledge and/or skills:

• Principles of Microeconomics

Форми на провеждане:

Учебни форми:

Език, на който се води курса:

Теми, които се разглеждат в курса:

  1. Introduction to Macroeconomics. The Measurement of National Output and National Income • Macroeconomic issues (Output, Unemployment, Inflation, Deflation) • Main Components of the Macroeconomy • Gross Domestic Product (GDP) • Calculation of GDP • Nominal Versus Real GDP • Limitations of GDP
  2. Unemployment, Inflation and Long-Run Growth • Unemployment • Measuring Unemployment • Inflation • Consumer Price Index • Long-Run Growth
  3. Aggregate Expenditure and Equilibrium Output • Keynesian Theory of Consumption • Planned Investment • Determinants of Equilibrium Output • The Multiplier
  4. The Government and Fiscal Policy • Government in the Economy • Government Purchases • Taxes • Disposable Income • Multiplier Effects • Budget Issues
  5. Money Supply and Central Banking • Definitions of Money • The Creation of Money by Banks • The Money Multiplier • The Central Banking System • How Central Banks Control the Money Supply (Required Reserve Ratio, Discount Rate, Open Market Operations)
  6. Money Demand and Interest Rates • Demand for Money • Determinants of Money Demand • The Equilibrium Interest Rate • Transactions Motive • Speculation Motive
  7. Aggregate Demand in Goods and Money Markets • Planned Investment and the Interest Rate • Equilibrium in Goods and Money Markets: The IS-LM Model • Policy Effects in Goods and Money Markets • The Aggregate Demand (AD) Curve • Shifts of the Aggregate Demand (AD) Curve
  8. Aggregate Supply and the Equilibrium Price Level • The Aggregate Supply (AS) Curve • Equilibrium Price Level • The Long-Run Aggregate Supply Curve • Monetary and Fiscal Policy Effects • Causes of Inflation • The Behaviour of Central Banks
  9. Labour Market in the Macroeconomy • Basic Concepts of the Labour Market • The Classical View of the Labour Market • Unemployment Explained • Short-Run Relationship Between the Unemployment Rate and Inflation • Long-Run Aggregate Supply Curve, Potential Output and the Natural Rate of Unemployment
  10. International Trade, Comparative Advantage, and Protectionism • Trade Surpluses and Deficits • Comparative Advantage • The Sources of Comparative Advantage • Trade Barriers: Tariffs, Export Subsidies, Quotas • Free Trade or Protection?
  11. Revision

Литература по темите:

• Case, K., Fair, R., and Oster, S. (2019) Principles of Economics, 13th edition, Global Edition. Pearson.

• All material used in this unit's classes are available in electronic form through CITY's E-Leaning Management System (MOLE) with enrolment password : growth


1. Mankiw, G. N. (2020). Principles of Economics. 9th Edition, Cengage Learning

2. Begg, D., Vernasca, G., Fischer, S., and Dornbusch, R. (2020). Economics. 12th Edition. McGraw-Hill

3. McConnell, C.R., Brue, S.L., and Flynn S. (2021). Economics. 22nd, McGraw Hill

Sources of economic and financial information

Useful on-line sources

United Nations Conference on Trade and Development:

Organsation for Economic Co-Operation and Development:

The World Bank:

International Monetary Fund:

EBSCO database

Financial Times:

The Economist:


EBSCO database (and any database through which you can reach academic papers)