FSEG – Bachelor first year – EG
The slides for the lectures of Principles of Macroeconomics are available on Moodle. The final exam will consist in a multiple choice test with an open question.
Tentative syllabus
- Chapter 1. Economics and Economies
- Section 1.1 What do economists study?
- The problem of scarcity
- Demand and supply
- Dividing up the subject
- Macroeconomics
- Microeconomics
- Illustrating economic issues: the production possibility curve
- Illustrating economic issues: the circular flow of goods and incomes
- Section 1.2 Different economic systems
- The classification of economic systems
- The command economy
- Assessment of the command economy
- The free-market economy
- Assessment of the free-market economy
- The mixed economy
- Section 1.3 The nature of economic reasoning
- Economics as a science
- Economics as a social science
- Economics and policy
- Section 1.1 What do economists study?
- Chapter 2. An Introduction to Macroeconomic Issues and Ideas
- Section 2.1 An overview of key macroeconomics issues
- Major macroeconomic issues
- Government macroeconomic policy
- Section 2.2 Measuring national income and output
- Three ways of measuring GDP
- Taking account of inflation
- Taking account of population: the use of per capita measures
- Taking account of exchange rates: the use of PPP measures
- Do GDP statistics give a good indication of a country’s standard of living?
- Section 2.3 The business cycle
- The distinction between actual and potential growth
- The hypothetical business cycle
- The business cycle in practice
- An international business cycle
- Aggregate demand and the business cycle
- Aggregate supply and the business cycle
- Section 2.4 The circular flow of income
- The inner flow, withdrawals and injections
- The relationship between withdrawals and injections
- Equilibrium in the circular flow
- Section 2.5 Unemployment
- Claimant unemployment and standardised unemployment
- The composition of unemployment
- The duration of unemployment
- Causes of unemployment
- Section 2.6 Inflation
- Different inflation rate measures
- Causes of inflation
- Section 2.7 The open economy
- The balance of payments account
- Exchange rates
- The determination of the rate of exchange in a free market
- Exchange rates and the balance of payments
- Section 2.1 An overview of key macroeconomics issues
Main reference
- Sloman, J. and Guest, J. and Garratt, D. (2018). Economics. Pearson Education Limited.