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 SSC 266 - International Macroeconomics

Cont​ent  

Macroeconomics is the branch of economics that studies the economy as a whole. Macroeconomists’ principal task is to try to figure out why overall economic activity rises or falls. Why are measures like the total value of all production, the total income of workers, or the unemployment rate higher in some years than in others? Macroeconomists also attempt to understand what determines the level and rate of change of overall prices. Along the way macroeconomists study other variables – such as interest rates, stock market values, and exchange rates – that play a major role in determining the overall levels of production, income, employment, and prices.

This course will continue providing an integrated view of macroeconomics. It is built on one underlying model (IS/LM/IP – AS/AD combined with Solow growth model), a model that draws the implications of equilibrium conditions in three sets of markets: the goods market, the financial markets, and the labour market. This way the students will see macroeconomics as a coherent whole, not a collection of models. To promote deeper understanding each part of the model will be built using three different tools: algebra, graphs & Excel.

This course will make close contact with current macroeconomic events. What makes macroeconomics exciting is the light it sheds on what is happening around the world, from the current crisis, to the large U.S. current account deficits, to the economic rise of China. These events – and many more – will be studied in this course. Next to listening to macroeconomic news & reading other economists’ reports the students will learn how to collect & analyze real macroeconomic data themselves. For that purpose the basics of a statistical package Stata will be introduced during the first few sessions of the course.

Instruc​tor

Tra​ck
Economics

Prerequisites
The following courses are required in order to take this course:

  • SSC 160 Introduction to Economics
  • One of the following courses
    • SCI 110 Elementary Calculus - Concepts & Connections 
    • ​SCI 111 Mathematical Ideas and Methods in Contexts​​

​Required for

This course is required in order to take the following courses:

  • ​SSC 363 Money, Banking & Finance
  • SSC 366 Econometrics