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   Course Title    Macroeconomics
Lecturer    Diana Sabotinova
Institution    Bourgas Free University
Country    Bulgaria


The goals for the course in Macroeconomics are to make students able to analyze the current economic situation and to acquire an economic way of thinking.

The objectives for the course are to teach the students how to apply cost-benefit analysis to the macroeconomic policy, to be able to forecast the future economic growth and to make better personal decisions in their everyday life.

The course consists of 60 hours of lectures and 30 hours of exercises during the winter semester.

For the assessment of the students will be used tests with multiple choice questions combined with writing a paper during the semester.

The content of the course in Macroeconomics is as follows:

LECTURE ONE: THE DATA OF MACROECONOMICS

  1. Measuring the Value of Economic Activity: Gross Domestic Product
  2. Measuring the Cost of Living: The Consumer Price Index
  3. Measuring Joblessness: The Unemployment Rate

LECTURE TWO: NATIONAL INCOME

  1. The Production of Goods and Services
  2. Distributing National Income to the Factors of Production
  3. The Demand for Goods and Services
  4. Equilibrium and Interest Rate

LECTURE THREE: ECONOMIC GROWTH

  1. The Accumulation of Capital
  2. The Golden Rule of Capital
  3. Population Growth
  4. Technical Progress
  5. Saving, Growth, and Economic Policy

LECTURE FOUR: UNEMPLOYMENT

  1. The Natural Rate of Unemployment
  2. Frictional Unemployment
  3. Structural Unemployment
  4. Patterns of Unemployment

LECTURE FIVE: INFLATION

  1. What is Money?
  2. The Quantity Theory of Money
  3. Inflation and Interest Rate
  4. Tne Nominal Interest Rate and the Demand for Money
  5. The Social Costs of Inflation

LECTURE SIX: ECONOMIC FLUCTUATIONS

  1. Aggregate Demand
  2. Aggregate Supply
  3. Stabilization Policy

LECTURE SEVEN: AGGREGATE DEMAND

  1. The Goods Market and the IS Curve
  2. The Money Market and the LM Curve
  3. The Short-Run Equilibrium

LECTURE EIGHT: AGGREGATE SUPPLY

  1. Models of Aggregate Supply
  2. Inflation, Unemployment, and the Philips Curve
  3. Recent Development: New Keynesian Economics

LECTURE NINE: THE THEORY OF REAL BUSINESS CYCLES

  1. A Real-Business-Cycle Model

The Debate Over Real-Business-Cycle Theory

  1. John Maynard Keynes and the Consumption Function
  2. Franco Modigliani and the Life-Cycle Hypothesis
  3. Milton Friedman and the Permanent-Income Hypothesis

LECTURE ELEVEN: INVESTMENT

  1. Business Fixed Investment
  2. Residential Investment

LECTURE TEN: CONSUMPTION

  1. Inventory Investment

LECTURE TWELVE: MONEY SUPPLY AND MONEY DEMAND

  1. Money Supply
  2. Money Demand

LECTURE THIRTEEN: GOVERNMENT DEBT

  1. The Traditional View of Government Debt
  2. The Ricardian View of Government Debt
  3. Consumers and Future Taxes

The mandatory reading for the course is the textbook of professor Petko Chobanov "Macroeconomics". All textbooks in Economics and Macroeconomics can be used. "General Theory of Employment, Interest, and Money" from John Meynard Keynes is highly recommended, as well as the books of Milton Friedman.



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