3030 Macroeconomic Theories and Policies in Global Economy
Content
- The review of confronting macroeconomic theories
- Critical view on modern macroeconomic theory and open issues
- Business cycles theories: causes, consequences and moduses how to come out of recession
- Real business cycles
- Energy shocks and business cycles: What do theory and empirics say?
- Macroeconomics of open economy: Mundel-Fleming model and its extensions
- New growth theories and international trade
- Transition: Washington Consensus, experiences and dilemmas
Objectives and competences
Students:
- Use the most important knowledge and skills needed for successful macroeconomic analysis in a modern global economy.
- Distinguish and appraise the differences in macroeconomic schools of thought.
- Develop arguments by explaining actual macroeconomic examples based on scientific macroeconomic analysis.
Competences:
- To understand the macroeconomic reality based on the knowledge of macroeconomic theories.
- To critically evaluate changes in national and international macroeconomic policy.
- To explain macroeconomic problems and dilemmas in modern highly opened economies.
- To understand and assess the problems of small open economies and their international trade in the regional and global economy.