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Course name Foundation of Macroeconomic Theory and Policy Course code R.9L6.FMT.SL.RZEKXX Department Institute of Economic and Social Sciences Unit of Economy and Economic Policy Agriculture and Economics Faculty Course supervisor/Lecturer General information Objective and general description Lectures Classes Jakub Piecuch, PhD. Semester summer ECTS credits 6 Lectures total Classes/ 15 15 Macroeconomics is the study of behaviour of the economy as a whole. Macroeconomics concerns business cycles that lead to unemployment and inflation as well as the longer-term trends in the output and living standards. In analyzing Macroeconomics we focus on a few key economic variables: gross national product (GDP), the unemployment rate, inflation and export. That is why during these classes we will try to understand a role of the government policy impact on four main areas: output, employment, price stability and international trade. Also an overview of main economic concepts will be presented. The purpose of the Foundations of Macroeconomic Theory and Policy course is to expand students’ knowledge of financial sector, stabilization policies, economic growth and international economics. 1. Fundamental concepts of macroeconomics – 3 h 2. Aggregate supply and Demand – AS-AD model and Potential – 3 h 3. Central Banking and Monetary Policy – 3h 4. Budget and Fiscal Policy – 3 h 5. International Trade and World Economy – 3 h 1.Goals and instruments of macroeconomics – 2h 2.Details of the national accounts – 3h 3.Aggregate supply in short and long run – classical and Keynesian approach, AS-ASD and Business cycle – 3 h 4.Fiscal and monetary policy effects – 3 h 5. Principles of comparative advantage – 2 h 6. Prptectionism and free trade – 2 h Assessment method Specify: oral/written examination Individual projects related to the subject References 1. D. Begg, Economics,McGraw-Hill,2002 2. P.A. Samuelson, Economics, McGraw-Hill, 2001 3. M. Burda, Ch. Wyplosz, Macroeconomics a European text, Oxford, 2005 4. 4. J.Sloman, Essentials of Economics, Pitman 201