Macroeconomics I

Principles of Economics, Introduction to Mathematical Economics, Microeconomics I

Macroeconomics I introduces core concepts and models used to study aggregate economic outcomes: growth, fluctuations, inflation, unemployment, money and banking, and open-economy macroeconomics.

By the end of the course, students should be able to:

• interpret key macroeconomic aggregates and national accounts;
• explain and apply benchmark growth models (Solow and extensions) and the idea of endogenous growth
• use intertemporal budget constraints to reason about consumption, saving, and fiscal sustainability;
• describe the role of money, banking, and monetary policy in modern economies;
• work with short-run equilibrium frameworks (goods market, IS–TR) and connect them to inflation/unemployment dynamics;
• analyze open-economy macroeconomic equilibrium under different exchange rate regimes and capital mobility assumptions;
• use AS–AD tools to discuss policy and shocks in the short run.

Burda, Michael & Charles Wyplosz (2017) Macroeconomics. A European text, 7th Ed. or older. Chapters indicated by the lecturer.
Mankiw, G. (2021) Principles of Macroeconomics. Cengage, Boston.

Right to participate: All students