Macroeconomics
Instructor: Срђан Амиџић, PhD, Full Professor
Macroeconomics is an "alphabet" of the economy. It examines the basic economic laws, the way in which economy functions, basic economic policies and their impact on the achievement of the basic macroeconomic goals. The purpose of this subject is to familiarize students with the very demanding and complex subject matter.
| Code : | О14МАК |
|---|---|
| Status: | C |
| Semestar: | 4th |
| Number of classes per week: | 4+3 |
| ЕECTS: | 8 |
| Teachers: |
Срђан Амиџић,
PhD Full Professor Стево Пуцар, PhD Full Professor Никола Видовић, MSc Assistant |
| Prerequisites: | |
| Learning Outcomes (gained knowledge): | Macroeconomics is a very complex field of theory, science and practice. The main outcome of studying this scientific discipline is that students, after mastering this very demanding and complex subject matter, can easily and quickly understand the comprehensive analysis of modern macroeconomic issues and problems, whose importance is greater today than ever before. Students acquire detailed knowledge of basic economic laws, the way in which economy functions, basic economic policies and their impact on the achievement of the basic macroeconomic goals. |
| Subject Contents: | Introduction to macroeconomics. The macroeconomic balance sheets. The basics of economic growth. The labor market and unemployment. Intertemporal budget constraint. Consumption and investment. The real exchange rate. Money and demand for money. Equilibrium in the money market in the short and in the long run. The money supply and monetary policy. Objectives, targets and instruments of monetary policy. Output, employment and prices. Goods Market and the IS curve. Money Market and the LM curve. Taylor rule and the TR curve. Macroeconomic equilibrium with fixed and flexible prices. Aggregate demand and aggregate supply. Output and interest rate at fixed and flexible exchange rate. Aggregate demand and inflation. Aggregate demand and aggregate supply in a fixed and flexible exchange rate regime. The shocks of supply and demand. Business cycles. Fiscal policy. Demand management policies. The Economics of Demand. Financial markets and macroeconomics. The determinants of the exchange rate in the short term. The construction of the international monetary system. Foreign currency crisis. The selection of exchange rate regime. |
| Teaching Methods and Learning Activities: | Lectures, seminar classes and practical exercises. |
| Literature: | Burda, М.; Wiplosz, C. (2012). Macroeconomics. Belgrade: Faculty of Economics (translation from English). |
| Types of Assessment for the subject: | Colloquium I (0-20 points); Colloquium II (0-20 points); Final exam (0-50 points); Attendance (2point); Class activities (seminar papers, discussions, case studies) (0-8 points) |
| Special Remarks for the subject: |