Doel vak

The objective of this course is to introduce core concepts and theories
of modern macroeconomic analysis including their development within the
economic and social context of the past centuries.

Specific learning outcomes upon completion of this course are:
- students know of and understand macroeconomic theories about growth,
inequality and unemployment within their historical contexts;
- students know of core macroeconomic concepts, including national
accounts and other frequently used aggregates
- students are familiar with recent empirical macroeconomic work on
growth, inequality and unemployment.

Inhoud vak

Macroeconomics is about the behavior of economic aggregates, i.e.,
variables that capture the development and change of the entire economy
over time. The course starts with discussing the historical development
of macroeconomic theories about growth, inequality and unemployment.

Next the course proceeds with the introduction of core macroeconomic
concepts and theories including illustrations from recent empirical
macroeconomic work on growth, inequality and unemployment:
- circular flows and national accounts;
- aggregate incomes and inequality;
- growth accounting: labor productivity, technological progress,
human capital, Solow model;
- institutions and economic development;
- unemployment: measurement, types, costs of unemployment, wage
rigidity.

Onderwijsvorm

Lectures and tutorials

Toetsvorm

Grade is average of problem sets (30 %) and written examination (70%),
with written exam grade of at least 5.0.

Vereiste voorkennis

Basic knowledge of math and statistics, as provided in the academic core
of any academic program at the Vrije Universiteit Amsterdam or
equivalent.

Literatuur

Acemoglu, Daron, David Laibson and John A. List, 2016, Economics,
Harlow, Essex, Pearson Education Ltd. ISBN 13: 978-1-292-07920-2, incl.
access code MYECONLAB.

Doelgroep

Third-year bachelor students of any major (except Economics and Business
Economics; and Econometrics).

Overige informatie

This course is an integral part of the University Minor Economics;
participants gain strongly from attending the entire minor program. This
course prepares for Business Cycles and Stabilization Policy as well as
Applications in Economic Policy.