Professional Development Program of KIMEP University JSC that has state-recognized license and
certified by FIBAA, Germany, Bonn, invites you and your employees to participate in this seminar.
Mini MBA Module
«Business Macroeconomics»
Duration of classes: 3 days, 9:30-17:00
Location: Almaty, JSC “University KIMEP”, Abai Ave., 4
(Valikhanov Str. crossing), Hall # 117 (EEC - Executive Education Center)
This seminar examines the functioning of the economy at the macro level. It examines concepts such as
GDP, unemployment, inflation, interest rate, investment, government spending, tax and monetary policies.
There are also being studied different theories and models. Since macroeconomics affects both the business
and the society, one should be able to predict the behavior of the economic system. You need to know the
key concepts of macroeconomics, basic terminology and measurement of key macroeconomic aggregates
The objectives of the training to teach participants:
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To understand and analyze the current macroeconomic policy of the state and its influence on
business and society
To evaluate the role and function of macroeconomic institutions
To be able to measure the macroeconomic indicators
To use the correct terminology
To distinguish between short-term and long-term processes
To explain why different economies develop and grow in different ways
To understand the basic relationship between production, finance and asset markets
To use diagrams, equations and simple terms to explain key relationships in macroeconomics
To assess the relative effectiveness of different policy approaches.
Topics covered by the seminar:
What is Macroeconomics?
In terms of the main problems which are studied,
macroeconomics includes economic growth and the
pace of the economic cycle and its causes,
employment and unemployment, the general price
level and the problem of inflation, interest rates and
the problems of monetary circulation, the condition
of the state budget and the issue of deficit financing,
balance of payments and exchange rate issues.
GDP and economic growth
The calculation of GDP, nominal and real GDP.
Calculation and interpretation of the GDP deflator.
Reasons for change in national income over time, as
well as cross-country differences in this indicator.
The model of economic growth called the Solow
growth model. As economic policies can affect the
standard of living and its growth. Why are some
countries rich and others poor? Can poor countries
to reach the level of the rich.
Demand and supply
The main (basic) macroeconomic model - a model of
"aggregate demand - aggregate supply» («AD AS»). It allows you, firstly, to reveal the conditions
of macroeconomic equilibrium, determine the value
of the equilibrium output and the equilibrium price
level, and secondly, to explain fluctuations in output
and the price level in the economy, and thirdly, to
show the causes and consequences of these changes
and, finally, describe the various options for
economic policy
Unemployment and inflation
The concept of unemployment. The indicators of the
labor market. The interpretation of indicators.
Disadvantages of the unemployment rate. The
relationship of unemployment and inflation. Phillips
curve. Consumer price index. The calculation of the
rate of inflation. Fisher effect, nominal
the interest rate, the real interest rate.
Money
Introduction to Business Cycles
Functions of money. Liquidity. Money supply.
Monetary aggregates. Factors increasing the money
supply. The total market demand for money.
Equilibrium in the money market. Credit market.
The functions of the credit market. Credit and
banking system. Forms of credit. Money multiplier.
Money multiplier. Stocks and bonds market
The main reason for a violation of macroeconomic
equilibrium - economic dynamics. Changes in real
indicators, such as employment and real GNP,
independent of changes in nominal terms (the money
supply and the price level). The change is due to the
actual performance of real changes in the economy,
such as for example a change of fiscal policy or
technological developments. Real theories of
the economic cycle. The real business cycle models,
a key role for intertemporal substitution effect in
making decisions about labor supply. Labor supply
depends on the level of wages and interest rates.
Fiscal policy
Exchange rate and balance of payments
Link of the national economy with the rest of the
world through two channels: trade in goods and
trade in services and financial assets. All
transactions are residents of the country to the rest of
the world are recorded in the balance of payments.
Under the exchange rate of foreign currency means
the value of foreign currency denominated in units
of domestic currency. Nominal and real exchange
rate. Exchange rate mechanism. The balance of
payments surplus.
Discretionary fiscal policy. Its objectives and types.
Taxation and the equilibrium volume of national
production. The tax multiplier. Deficit, surplus and a
balanced budget. Balanced Budget Multiplier.
Automatic fiscal policy and the built-in stabilizers.
The budget on the assumption of full employment.
The effectiveness of fiscal policy: time lags; Wipe,
inflation and net exports. Ways to cover the deficit
of the state budget: the monetization of the deficit,
the issue of loans, an increase in tax revenues. Laffer
Curve
After the training, participants will be able:
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To critically evaluate the macroeconomic policies of the government
Understand the importance and ways of applying macroeconomic models
Use analytical tools in assessing the macroeconomic problems
Use macro science concepts to select the most efficient and effective way of economic development of the
country
Methods of training: Training is conducted in a mode of intensive interaction and leading participants. For efficient
assimilation of theoretical material by participants in the program a large number of discussions and illustrations are
included.
Seminar instructor: Dr. Sholpan Gaisina is an Associate Dean for undergraduate programs at BCB and a
faculty member, teaching Business Macroeconomics, Business Microeconomics, Financial Institution
Management, and Business Communications.
She graduated from Nagoya University in Japan in 2011 with a degree “Doctor in Economics”; additionally,
she had got a Ph.D. degree from Kazakh Research Institute of Agriculture in 1999. She is a fellow of a
number of very prestigious foundations as Alexander von Humboldt Foundation (Germany), Fulbright
Foundation (USA), Japanese Society for Promotion of Science, The Netherlands Institute for Advanced
Studies, DAAD (Germany).
She has an experience of teaching at Averett University in Danville, Virginia, USA (2013-2014) and at
Stockholm School of Economics (Riga branch) (2010). She has worked as an international trainer, having a
certificate from the International City/County Management Association (ICMA), USA. She has conducted
trainings on Leadership, Local Budget Process, Public Hearings, and Financial Management in different
regions of Kazakhstan.
She works intensively as a researcher. She has published 2 books, 24 papers and 26 conference
contributions to conferences. She has a good experience working in the research team projects both as a
supervisor and as a participant. Her academic interests are mainly on Financial Institutions and Services in
Rural Areas in Transition Economies, Borrowing and Saving Behavior of Rural Population, Rural Credit
Cooperation.
Additional information:
Price for 3-day seminar is KZT 86 700.00 VAT included. The price of seminar includes: tuition, individual study
manual, handouts, certificate of completion, lunch and coffee-breaks, car parking in KIMEP University campus.
Price for corporate seminar is KZT 1 080 000.00 VAT included per group for 3 days (15-17 people in a group)
Seminar Schedule: 9:30 AM - 5:00 PM, Lunch - 12:30-1:30 PM, Tea/coffee breaks - 11:00-11:15 AM, 3:00-3:15
PM
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To participate, please fill in this form and send it back to Almaty
by e-mail (abgd@kimep.kz ; solga@kimep.kz ; alex.bogdanov555@live.com)
or faxes: (727) 2374802, 2374803; тел. 2704300, 2704301
Mini MBA Module
«Business Macroeconomics», duration 3 days
Name
Position
Company, address
Bank Account & Details (р/с,
БИН, ИИК, Кбе)
It is necessary to provide electronic copies of the following documents:
- copy of state registration certificate
- copy of TRN/ BIN certificate
- copy of registration for VAT certificate
Fax
PHH of the company
Tel
E-mail
Tuition payment is made before the beginning of the seminar.
Please, send a copy of the payment order to the above mentioned fax.
Alexander Bogdanov,
Manager, Professional Development Program,
Joint-Stock Company “KIMEP University”