ISL 244E - Makroiktisat

Dersin Amaçları

To introduce students to
i. definitions, measures and trends of fundamental macroeconomic variables;
ii. basic macroeconomic theories and models;
iii. main discussions and debates around macroeconomic policies;
iv. the relevance of macroeconomics to human development, sustainable growth and wellbeing.

Dersin Tanımı

This course is designed as a follow-up to the first-semester course titled Microeconomics. The Microeconomics course focused on the study of particular product, labor and capital markets through an investigation of the behavior of economic agents of society, namely individuals as consumers and workers, and firms/businesses as producers. The Macroeconomics course will follow up on these micro foundations to develop an understanding of the aggregate economic variables such as national income, unemployment, inflation, savings, investment, productivity, economic fluctuations, growth and sustainability. We look at how these macro variables are defined and measured; identify the basic observed trends in related macroeconomic data; explore their causes and effects. The lectures will develop an analytical framework showing how these macroeconomic variables relate to one another and their relevance to economic policy making. The latter half of the course will focus on the implications of an open economy context for these macroeconomic phenomena, through exploration of international trade, capital flows, exchange rates, balance of payments, economic fluctuations, sustainable growth and human development in the context of a globalized economy.