Veidlapa Nr. M-3 (8)
Study Course Description
Theory of Macroeconomics
Course Code
SZF_085
Branch of Science
Economics and Business; Macroeconomics
ECTS
5.00
Target Audience
Business Management; Management Science; Marketing and Advertising
LQF
Level 6
Study Type And Form
Full-Time; Part-Time
Study Course Implementer
Course Supervisor
Inna Dovladbekova
Structure Unit Manager
Ieva Puzo
Structural Unit
Faculty of Social Sciences
Contacts
Dzirciema street 16, Rīga, szf@rsu.lv
About Study Course
Objective
To develop understanding of the theory of macroeconomics as an integral part of economic theory, to improve knowledge of the theoretical concept of macroeconomics, its categories and fundamentals, providing information in both historical and contemporary contexts, to strengthen knowledge of macroeconomic theory and policy with examples illustrating the application of macroeconomic principles in real life and business, to carry out case studies.
Preliminary Knowledge
Knowledge of the basics of economics, microeconomics, mathematics and statistics is required.
Learning Outcomes
Knowledge
1.After the completion of the course, students understand the macroeconomic concept of market economy functioning and practical manifestations of its regularities according to the latest development trends, know the role of macroeconomic theory in business and state functioning, understand the cyclical development of economy, methods of regulation according to modern theories, determine the role of international economic relations in the global economic system.
Skills
1.After the completion of the course, students will know how to calculate macroeconomic indicators, interpret and use them to evaluate the economic situation. Students will be able to analyse macroeconomic balance and the factors that affect it, classify types and causes of unemployment and inflation, to reasonably discuss the use of fiscal and monetary policy instruments depending on business cycle changes, to determine economic growth factors in the context of sustainable development. To apply theoretical knowledge of macroeconomic principles for analysis of economic processes and business environment, for solving topical problems, as well as for carrying out scientific research work, to reasonably discuss current macroeconomic issues.
Competences
1.Students will be able to analyse and interpret macroeconomic indicators, explain the algorithm for studying macroeconomic balance, characterise fiscal and monetary policy instruments and determine their application depending on the economic situation in the country, choose inflation and unemployment reduction tools, determine the factors and indicators of economic growth and living standards, describe advantages and role in the global economy, to analyse the factors that have an impact on exchange rate and international financial system concepts.
Assessment
Individual work
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Title
|
% from total grade
|
Grade
|
|---|---|---|
|
1.
Individual work |
-
|
-
|
|
Literature analysis, preparation of summaries, homework, group work and preparation of presentations, individual report.
In order to evaluate the quality of the study course as a whole, the student must fill out the study course evaluation questionnaire on the Student Portal.
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Examination
|
Title
|
% from total grade
|
Grade
|
|---|---|---|
|
1.
Examination |
-
|
-
|
|
Lecture and seminar attendance – 5%.
Participation in seminars (activity and quality of answers, completion of tests, group work) – 20%.
Assessment of summaries and homework – 15%.
Individual report – 20%.
Exam grade – 40%.
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Study Course Theme Plan
FULL-TIME
Part 1
-
Lecture
|
Modality
|
Location
|
Contact hours
|
|---|---|---|
|
On site
|
Auditorium
|
2
|
Topics
|
Subject of macroeconomics, measurement of macroeconomic activity.
|
-
Lecture
|
Modality
|
Location
|
Contact hours
|
|---|---|---|
|
On site
|
Auditorium
|
2
|
Topics
|
Determination of national income. Total demand. Multiplier model.
|
-
Lecture
|
Modality
|
Location
|
Contact hours
|
|---|---|---|
|
On site
|
Auditorium
|
2
|
Topics
|
The role of the State in the market economy. Fiscal policy, budget deficit and public debt.
|
-
Lecture
|
Modality
|
Location
|
Contact hours
|
|---|---|---|
|
On site
|
Auditorium
|
2
|
Topics
|
Money, banking system, and monetary policy.
|
-
Lecture
|
Modality
|
Location
|
Contact hours
|
|---|---|---|
|
On site
|
Auditorium
|
2
|
Topics
|
Total supply. Macroeconomic balance. IS-LM model.
|
-
Lecture
|
Modality
|
Location
|
Contact hours
|
|---|---|---|
|
On site
|
Auditorium
|
2
|
Topics
|
Instability in the economy. Inflation and unemployment.
|
-
Lecture
|
Modality
|
Location
|
Contact hours
|
|---|---|---|
|
On site
|
Auditorium
|
2
|
Topics
|
Economic growth and economic cycle. Living standard.
|
-
Lecture
|
Modality
|
Location
|
Contact hours
|
|---|---|---|
|
On site
|
Auditorium
|
2
|
Topics
|
International economic relations. International trade and international monetary system.
|
-
Class/Seminar
|
Modality
|
Location
|
Contact hours
|
|---|---|---|
|
On site
|
Auditorium
|
2
|
Topics
|
Subject of macroeconomics, measurement of macroeconomic activity. Total demand. Multiplier model.
|
-
Class/Seminar
|
Modality
|
Location
|
Contact hours
|
|---|---|---|
|
On site
|
Auditorium
|
2
|
Topics
|
Fiscal policy. Money, banking system, and monetary policy.
|
-
Class/Seminar
|
Modality
|
Location
|
Contact hours
|
|---|---|---|
|
On site
|
Auditorium
|
2
|
Topics
|
Total supply. Macroeconomic balance. IS-LM model.
|
-
Class/Seminar
|
Modality
|
Location
|
Contact hours
|
|---|---|---|
|
On site
|
Auditorium
|
2
|
Topics
|
Economic instability, inflation and unemployment.
|
-
Class/Seminar
|
Modality
|
Location
|
Contact hours
|
|---|---|---|
|
On site
|
Auditorium
|
2
|
Topics
|
Economic growth. Business cycle.
|
-
Class/Seminar
|
Modality
|
Location
|
Contact hours
|
|---|---|---|
|
On site
|
Auditorium
|
2
|
Topics
|
International trade and International monetary system.
|
Total ECTS (Creditpoints):
5.00
Contact hours:
28 Academic Hours
Final Examination:
Exam (Written)
PART-TIME
Part 1
-
Lecture
|
Modality
|
Location
|
Contact hours
|
|---|---|---|
|
On site
|
Auditorium
|
2
|
Topics
|
Money, banking system, and monetary policy.
|
-
Lecture
|
Modality
|
Location
|
Contact hours
|
|---|---|---|
|
On site
|
Auditorium
|
2
|
Topics
|
International economic relations. International trade and international monetary system.
|
-
Class/Seminar
|
Modality
|
Location
|
Contact hours
|
|---|---|---|
|
On site
|
Auditorium
|
2
|
Topics
|
Subject of macroeconomics, measurement of macroeconomic activity. Total demand. Multiplier model.
|
-
Class/Seminar
|
Modality
|
Location
|
Contact hours
|
|---|---|---|
|
On site
|
Auditorium
|
2
|
Topics
|
Fiscal policy. Money, banking system, and monetary policy.
|
Total ECTS (Creditpoints):
5.00
Contact hours:
18 Academic Hours
Final Examination:
Exam (Written)
Bibliography
Required Reading
1.
David Begg, Gianluigi Vernasca,Stanley Fisher, Rudiger Dornbusch. Economics Mc GRAW-HILL BOOK COMPANY.
2.
Paul Krugman, Robin Wells. Macroeconomics. MACMILLAN EDUCATION, 5th ed
3.
Mankiw G.N. Macroeconomics. Worth Publishers, 7th ed.
4.
Šenfelde M. Makroekonomika. Rīga, RTU, 2006, 231 lpp.
5.
Dovladbekova I., Eteris E., Zelmenis D. Eiropas Savienības ekonomiskā politika un Latvija. RSU, Rīga, 2008, 349 lpp.
6.
Dovladbekova I., Eteris E., Zelmenis D. Mūsdienu finanšu un ekonomiskā krīze Eiropā un Latvijā: izeju meklējot. RSU, Rīga, 2011, 110 lpp.
Additional Reading
1.
Christopher T.S. Ragan, Richard G. Lipsey Macroeconomics.
2.
Karl E. Case, Ray C. Fair, Sharon M. Oster Principles of Macroeconomics
3.
David Romer. Advaced Macroeconomics. McGrawHill Education, 5th ed.
4.
Principles of Macroeconomics. Open TextBook Library
Other Information Sources
1.
Latvijas Banka.
2.
IMF World Economic Outlook.
3.
Central Intelligence Agency The World Factbook.
4.
Human Development Reports.
5.
Eurostat.
6.
European Central Bank.
7.
Centrālā statistikas pārvalde