Contemporary Macroeconomic Problems

The knowledge of microeconomics and principals of macroeconomics from the basic course.

(in Polish) przedmiot obowiązkowy

Hours conducted with the participation of instructors:

- participation in lectures – 15 hours

- consultation hours - 20 hours

- final exam - 5 hours

The time devoted to self-study of a student to successfully complete the course:

- earlier preparation and completion of notes - 10 hours

- reading reference materials and course materials (provided via an e-learning platform) - 10 hours

The time required to prepare for assessment and grading:

- preparation for the final exam - 15 hours

W1 knows and understand contemporary macroeconomic problems: their sources, characteristics and consequences (K_W02)

U1 is able to identify contemporary macroeconomic problems and propose a research method to analyse them (K_U09)

K1 can apply knowledge to propose potential measures to be taken to mitigate the negative effects of contemporary macroeconomic problems (K_K01)

Lectures using multimedia presentations, additional teaching materials available on the MS Teams platform

- informative (conventional) lecture
- problem-based lecture

Methods of macroeconomic analysis. GDP measurement. The goods-markets. The financial Markets. Monetary Policy. The Labour markets. International openness and trade. Long term economic growth. Short term economic fluctuations.

1. Macroeconomic – methods of analysis. Main paradigms of macroeconomics theory (K_W01, K_K01)

2. Unemployment, Inflation, and Long-Run Growth (K_W01)

3. Financial Crises, Stabilization, and Deficits (K_W01)

4. Economic Growth in Developing Economies (K_W01, K_K01)

5. Beyond GDP: Measuring What Counts for Economic and Social Performance (K_W01)

6. Mitigating Economic Crises Caused by the Current problems: the COVID-19 and the war in Ukraine (K_W01, K_K01)

Compulsory Literature

- Karl E. Case, Ray C. Fair, Principles of Macroeconomics, Pearson Prentice Hall, 2020.

- N. Gregory Mankiw, Macroeconomics, Worth Publishers, New York 2010.

- Stiglitz, J., J. Fitoussi and M. Durand, Beyond GDP: Measuring What Counts for Economic and Social Performance, OECD Publishing, Paris, 2018. https://www.oecd.org/corruption/beyond-gdp-9789264307292-en.htm

- Richard E. Baldwin, Beatrice Wede, Mitigating the COVID Economic Crisis: Act Fast and Do Whatever it Takes, CEPR Press, 2020 https://voxeu.org/

-Richard E. Baldwin, Beatrice Wede, Economics in the Time of COVID-19, CEPR Press, 2020 https://voxeu.org/

- Garicano L., Rohner D., Weder di Mauro B. (eds.) Global Economic Consequences of the War in Ukraine: Sanctions, Supply Chains and Sustainability 2022 https://voxeu.org/

- Gorodnichenko Y., Sologoub I., Weder di Mauro B. Rebuilding Ukraine: Principles and policies (report) 2022 https://voxeu.org/

Complementary Literature

- Sen, Amartya, Jean Paul Fitoussi, and Joseph Stiglitz. Mismeasuring Our Lives: Why GDP Doesn't Add Up. The New Press, 2010

- Joseph E Stiglitz, Contemporary Issues in Macroeconomics, Palgrave Macmillan, 2015

- William A. McEachern, Macroeconomics. A Contemporary Introduction, Thomson Southwestern 2006

- Robert E. Hall, David H. Papell, Macroeconomics. Economic Growth, Fluctuations and Policy, Norton&Company, NewYork-London 2005

- Brian Snowdon, Howard R. Vane, Modern Macroeconomics. Its Origin, Development and Current State, Edward Elgar, Cheltenham, 2005;

- William A. McEachern, Macroeconomics. A Contemporary Introduction, Thomson Southwestern 2006; Oliver Blanchard, Macroeconomics, Prentice Hall, 2003;

Written Exam 100 %:

It lasts 80 minutes and it consists of 30 multiple choice questions (30 points) and 2 essay questions (10 points)

Assessment criteria:

2/fail - [0%-50%] of the possible number of points, (0-20 points)

3/satisfactory - [50%-60%] of the possible number of points, (21-24 points)

3+/satisfactory plus - [60%-70%] of the possible number of points, (25-28 points)

4/good - [70%-80%] of the possible number of points, (29-32 points)

4+/good plus - [80%-90%] of the possible number of points, (33-36 points)

5/very good - [90%-100%] of the possible number of points. (37-40 points)

Active class participation is a „plus”

n/a