{"id":83425,"date":"2022-08-10T09:47:51","date_gmt":"2022-08-10T07:47:51","guid":{"rendered":"https:\/\/prawo.uwr.edu.pl\/?page_id=83425"},"modified":"2022-12-27T10:13:33","modified_gmt":"2022-12-27T09:13:33","slug":"macroeconomics","status":"publish","type":"page","link":"https:\/\/prawo.uwr.edu.pl\/en\/mme-master-of-managerial-economics\/macroeconomics\/","title":{"rendered":"Macroeconomics"},"content":{"rendered":"\n
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Macroeconomics<\/h1>\n\n\n

Program: <\/strong> Managerial Economics<\/a>
ECTS: <\/strong> 5
Lecturer:<\/strong>  Mateusz Machaj PhD
Email: <\/strong> mateusz.machaj@uwr.edu.pl<\/a>
Type:<\/strong>  Compulsory
Level: <\/strong> Advanced<\/p>\n\n\n\n

Personal information:
https:\/\/prawo.uni.wroc.pl\/user\/14603<\/p>\n\n\n\n

External links:
http:\/\/mises.pl\/LectureNumber of hours:  2h X 8 weeks = 16 hours (1 semester)ClassesNumber of hours:  2h X 7 weeks = 14 hours (1 semester)<\/p>\n<\/div>\n<\/div>\n\n\n\n

\n

Objective: <\/strong>
The purpose of this course is to acquaint the students with basics of modern macroeconomic framework, its terms, analysis and way of posing macro problems. Also modern schools of thought are briefly examined.<\/p>\n\n\n\n

Assessment: <\/strong>
Oral examination<\/p>\n\n\n\n

Contents: <\/strong><\/p>\n\n\n\n

  1. The subject of Macroeconomics as opposed to Microeconomics. Macroeconomics as a separate field in economics? Basic problems in theory of Macro. History of Macroeconomics in the background of economic history and history of economic thought.<\/li>
  2. Economic systems and political doctrines in macroeconomic science. Normative and positive macroeconomics. Why so many macroeconomic schools as compared to micro sphere?<\/li>
  3. The problem of datum. Gross Domestic Product and its criticism. Alternative approaches: HDI, GNO, NEW, PPP, PPR.<\/li>
  4. Types of unemployment (voluntary and involuntary). Natural rate of unemployment and NAIRU. The concept of “full employment”.<\/li>
  5. “Money” market or does money have a market of its own? Inflation. Definition and different types. How it is measured and how it can be manipulated. Controversies over the causes of inflation. Taxonomy of deflation.<\/li>
  6. Money supply \u2013 how it is measured. Evolution of the banking system. Different methodologies on how it should be measured. Central bank\u2019s tool and policies. What decides about the money supply? Controversies over the role of money supply and the control over it.<\/li>
  7. Fiscal policy \u2013 its effects and consequences. Budget and types of taxes. The influence of government debt upon the economy.<\/li>
  8. “Classical” Macroeconomics. Mill\u2019s dictum and Say\u2019s law of markets. The function of a price system and its role in increases employment and the level of investment. Classical interpretations of business cycles (Hume, Ricardo).<\/li>
  9. Hayekian model of a business cycle. Monetary overinvestment theory. Real and monetary approaches to business fluctuations. Secondary effects in the downward phase of a business cycle. Is there a role for capital theory in macroeconomics?<\/li>
  10. Keynesian approach to macroeconomics \u2013 rejection of Mill\u2019s dictum and Say\u2019s law of markets. Keynes\u2019s philosophy and its impact on his economic views.<\/li>
  11. Samuelson-Hicks acceleration principle.<\/li>
  12. Consumption function and autonomous investments. Different approaches to consumption function. Keynesian cross and multiplier effect.<\/li>
  13. Relations between inflation and unemployment. Philips curve and long-run Philips curve. Problems with macroeconomic modeling. NAIRU and NRU.<\/li>
  14. Fisher\u2019s equation and Friedman\u2019s plucking model.<\/li>
  15. Different monetary standards. Classical gold standard, Bretton Woods. Freely fluctuating fiat currencies and fixed rates.<\/li>
  16. Proposals for monetary regimes and different schools of thought. Central banking and Free Banking.<\/li>
  17. Modern macroeconomic schools. New Keynesians, Neo-Keynesians, Post-Keynesians, Monetarists, Austrians, Rational Expectations, New Classicals.<\/li><\/ol>\n\n\n\n

    Recommended reading: <\/strong>
    Mankiw, Gregory N. 2003. Macroeconomics, 5th edition<\/em>. Worth Publisher.
    Snowdon, Brian; Howard R. Vane; 2005. Modern Macroeconomics: Its Origins, Development And Current State<\/em>. Edward Elgar.<\/p>\n<\/div><\/div><\/div><\/div><\/div><\/div>\n<\/div><\/div><\/div><\/div><\/div><\/div>\n","protected":false},"excerpt":{"rendered":"

    Program:  Managerial EconomicsECTS:  5Lecturer:  Mateusz Machaj PhDEmail:  mateusz.machaj@uwr.edu.plType:  CompulsoryLevel:  Advanced Personal information:https:\/\/prawo.uni.wroc.pl\/user\/14603 External links:http:\/\/mises.pl\/LectureNumber of hours:  2h X 8 weeks = 16 hours (1 semester)ClassesNumber of hours:  2h X 7 weeks = 14 hours (1 semester) Objective: The purpose of this course is to acquaint the students with basics of modern macroeconomic framework, its terms, analysis and way of posing macro problems. Also modern […]<\/p>\n","protected":false},"author":20,"featured_media":82792,"parent":125028,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"_acf_changed":false,"inline_featured_image":false,"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","ast-disable-related-posts":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"footnotes":""},"categories":[],"tags":[],"class_list":["post-83425","page","type-page","status-publish","has-post-thumbnail","hentry"],"featured_image_urls_v2":{"full":"","thumbnail":"","medium":"","medium_large":"","large":"","1536x1536":"","2048x2048":"","menu-24x24":"","menu-36x36":"","menu-48x48":""},"post_excerpt_stackable_v2":"

    Macroeconomics Program:  Managerial EconomicsECTS:  5Lecturer:  Mateusz Machaj PhDEmail:  mateusz.machaj@uwr.edu.plType:  CompulsoryLevel:  Advanced Personal information:https:\/\/prawo.uni.wroc.pl\/user\/14603 External links:http:\/\/mises.pl\/LectureNumber of hours:  2h X 8 weeks = 16 hours (1 semester)ClassesNumber of hours:  2h X 7 weeks = 14 hours (1 semester) Objective: The purpose of this course is to acquaint the students with basics of modern macroeconomic framework, its terms, analysis and way of posing macro problems. Also modern schools of thought are briefly examined. Assessment: Oral examination Contents:  The subject of Macroeconomics as opposed to Microeconomics. Macroeconomics as a separate field in economics? Basic problems in theory of Macro. History of Macroeconomics in the background of economic history and history of economic thought.Economic…<\/p>\n","category_list_v2":"Uncategorized","author_info_v2":{"name":"mmatlinski","url":"https:\/\/prawo.uwr.edu.pl\/en\/author\/mmatlinski\/"},"comments_num_v2":"0 comments","acf":[],"yoast_head":"\nMacroeconomics - Wydzia\u0142 Prawa, Administracji i Ekonomii<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/prawo.uwr.edu.pl\/en\/mme-master-of-managerial-economics\/macroeconomics\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Macroeconomics - Wydzia\u0142 Prawa, Administracji i Ekonomii\" \/>\n<meta property=\"og:description\" content=\"Program:  Managerial EconomicsECTS:  5Lecturer:  Mateusz Machaj PhDEmail:  mateusz.machaj@uwr.edu.plType:  CompulsoryLevel:  Advanced Personal information:https:\/\/prawo.uni.wroc.pl\/user\/14603 External links:http:\/\/mises.pl\/LectureNumber of hours:  2h X 8 weeks = 16 hours (1 semester)ClassesNumber of hours:  2h X 7 weeks = 14 hours (1 semester) Objective: The purpose of this course is to acquaint the students with basics of modern macroeconomic framework, its terms, analysis and way of posing macro problems. 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