Macroeconomics II

General

• Code: 305
• Semester: 3rd
• Study Level: Undergraduate
• Course type: Specialization
• Teaching and exams language: Greek
• Teaching Methods (Hours/Week): Lectures and Practice Works (3)
• ECTS Units: 5
• Course homepage: https://elearning.cm.ihu.gr/course/view.php?id=636
• Instructors: Vlachos Vasileios

Course Contents

1. Introduction to the subject and objectives of macroeconomics.
2. GDP and national accounts.
3. Current account balance.
4. Keynesian cross.
5. IS/LM model.
6. Phillips Curve and IS-MP-PC Model.
7. Mundell-Fleming model.
8. Aggregate demand and supply model.
9. Monetary policy.
10. Fiscal policy.
11. Effectiveness of economic policies.
12. Financial crises.
13. Macroeconomic policy in modern Greece.

Educational Goals

This course is a continuation of the course “Macroeconomics I” and its purpose is to deepen the study and analysis of the models of modern Macroeconomics. The aim is to complement the knowledge that the students acquired from the course “Macroeconomics I” in order to obtain a more complete picture of contemporary economic phenomena and the formulation  of economic policy. The course aims the thorough and accessible presentation of all the basic macroeconomic models that will help the student develop a clearer and more complete perspective on the economic events of the 21st century.

Upon successful completion of the course, students will be able to:

• Use functional relationships, diagrams, and the findings of empirical research to suggest ways to address/solve key macroeconomic issues.
• Understand how an open economy function.
• Evaluate/analyze the effects of economic policy and external events.
• Develop students’ analytical and theoretical abilities and apply them to issues of modern fiscal and monetary policy in the context of an open economy.

General Skills

• Working independently.
• Team work.
• Decision making.
  Production of free, creative and inductive thinking.

Teaching Methods

• In the classroom, face to face.

Use of ICT means

• Basic software (windows, word, power point, the web, etc.).
• Support of learning process through the electronic platform / e-class.

Teaching Organization

Students Evaluation

Written final exams (60%) that may include:

• Judgemental questions
• Short answer questions
• Comparative evaluation of theory elements
• True/False and Multiple Choice questions
• Applications exercises

In each question, corresponding evaluation points are specified.
Optional assignment (Essay writing and presentation) corresponds to 40% of the final grade.

Recommended Bibliography

1. Olivier Blanchard, «Μακροοικονομική», 8^η Έκδοση, Εκδόσεις Επίκεντρο, Αθήνα 2021.
2. Gregory N. Mankiw, «Μακροοικονομική», Εκδόσεις Gutenberg, Αθήνα 2019.
3. Gregory N. Mankiw και Mark P. Taylor, «Οικονομική: Μακροοικονομική», 5η Έκδοση, Εκδόσεις Τζιόλα, Θεσσαλονίκη 2021.

Related Research Journals

1. American Economic Journal: Macroeconomics.
2. Journal of Macroeconomics.
3. NBER Macroeconomics Annual.