Content of the course (for elective courses)

T.Ryskulov Kazakh Economic University

Department for International Educational Programs

SYLLABUS

Course title: «Macroeconomics»

Specialization: “Economics 050600” “Finance 050600” “Accounting and audit 050600”

Almaty, 2012

1. Information about a teacher/ instructor

Ilyassov Didar Kabidoldinovich, Candidate of Economic Science, MSc, length of work – 17 years; work time – two times a week: Tuesday and Thursday.

Phone: 87051849121, e-mail ilyassovd@rambler.ru

Prerequisites

Economic theory

Post requisites

This course is designed for both, majors and non-majors. Economics today demands ideas with real impact. Of course, great ideas do not come out of thin air. With the assistance of a recipient of several prestigious awards for his research and incredibly prolific writings on social, economic and political issues and real-world business professional, peripatetic expert in his fields who has a desire to impart applicable knowledge and skills, participants will achieve the most educationally effective blend of theory and practice relating to the current microeconomics body of knowledge presented in an andragogically sound format, suggesting that their Arudimentum, or rudimentary, economic knowledge, if any at all, is consigned to the archives of history.

Course description

The course tries to provide comprehensive exposure of all the key elements comprising the discipline of Macroeconomics. It will cover the definition parts of Macroeconomics, Trade and Globalization and assessing the international environment. This course also attempts to cover social responsibility and ethics around the world along with economic context and managing political risk, government relations and alliances of global scale. Most importantly, this course deals with the formulating and implementing strategy for objects of the Module that represent MNCs, relationships between government and business structure.

Goal of study

To prepare students both from practical and theoretical side for most of main problems which they may encounter from macroeconomic point of view.

Tasks of study

By the end of the course students will be able to:

· understand the role of Government for doing business;

· identify the various international strategy formulation and implementation practices;

· appreciate the various international practices of MNCs around the world;

· understand main trade theories and correlations between trade liberalization and economic growth.

Content of the course (for elective courses)

Lecture 1. The Science of Macroeconomics

Scarcity and Choice; Opportunity Cost; Production Possibility Frontier (Macro level); Economic Growth and Its Factors; Comparative and Absolute Advantages; Trade.

Lecture2. The Data of Macroeconomics

Circular Flow; Gross Domestic Product (GDP); Components of GDP; Real vs. Nominal GDP.

Lecture3. National Income:

Where It Comes From and Where It Goes

Price Indices; Nominal and Real Values; Costs of Inflation; Definition and Measurement of Unemployment; Types of Unemployment; Natural Rate of Unemployment

Lecture4. Money and Inflation

Determinants of Aggregate Demand (AD); Multiplier; Crowding-Out Effect.

Lecture5. The Open Economy

Long-Run and Short-Run Aggregate Supply (AS); Sticky vs. Flexible Wages and Prices.

Lecture6. Unemployment

Real Output and Price Level; Short-Run and Long-Run Outcomes; Actual vs. Potential GDP; Economic Fluctuations.

Lecture7. Economic Growth I

Money, Stocks, Bonds; Time Value of Money (present and future value); Measures of Money Supply; Banks and Creation of Money

Lecture8. Economic Growth II

Money Demand; Money Market; Loanable Funds Market

Lecture9. Introduction to Economic Fluctuations

Tools of Central Bank Policy; Quantity Theory of Money; Real vs. Nominal Interest Rates

Lecture10. Aggregate Demand 1:

Building the IS-LM Model

Demand-side Effects; Supply-side Effects; Policy Mix; Government Deficits and Debt

Lecture11. Aggregate Demand II

Types of Inflation; Demand-pull Inflation; Cost-push Inflation; the Phillips Curve: Short Run vs. Long Run; Role of Expectations

Lecture12. The Open Economy Revisited:

The Mundell-Fleming Model and the

Exchange-rate Regime

Balance of Payments Accounts. Balance of Trade; Current Account; Capital Account

Lecture13. Aggregate Supply and the Short-run Tradeoff Between Inflation and Unemployment

Foreign exchange market. Demand for and Supply of Foreign Exchange; Exchange Rate Determination; Currency Appreciation and Depreciation; Net Exports and Capital Flows; Links to Financial and Goods Markets

Lecture14. Stabilization Policy

Quality uncertainty and the market for lemons. Market signaling. Moral hazard

Lecture15. Government Debt

Externalities. Ways of correcting market failure. Externalities and property rights.

Date: 2016-01-03; view: 848