Преподавател(и):

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

Описание на курса:

Компетенции:

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:
Редовен

Учебни форми:
Лекция

Език, на който се води курса:
Български

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

Textbooks

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: www.unctad.org

Organsation for Economic Co-Operation and Development: www.oecd.org

The World Bank: www.worldbank.org

International Monetary Fund: www.imf.org

EBSCO database

Financial Times: www.ft.com/

The Economist: www.economist.com/

Bloomberg: www.bloomberg.com

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