Identification
Prerequisites
Language
Compulsory/Elective
Required textbooks and course materials
Course website
Course outline
Course objectives
Learning outcomes
Teaching methods
Evaluation
Subject
(code, title, credits)
Department
Program
(undergraduate, graduate)
Term
Instructor
E-mail:
ECON 315 Intermediate Macroeconomics - 3KU/6ECTS credits
Economics and Management
Undergraduate
Fall 2014
Jeyhun Mammadov jeyhun.mammadov@hotmail.com
Phone:
Classroom/hours
Office hours
Bashir Safaroglu 122, Room # 45, Monday 12:10 – 15:00
Thursday, 14:00 to 16:00 in office # 26 or by appointment
ECON 202 Principles of Macroeconomics, MATH 101 Calculus.
English
Compulsory
N. Gregory Mankiw. “Macroeconomics” 8 th edition, 2012
A range of issues in macroeconomics covering the topics: data measurements and national income accounting, growth theories, Short-run business cycles and Keynesian economics, the open economy. The content of the lectures and readings are balanced between economic theory, macroeconomic models, empirical findings in macroeconomic topics and contemporary economic policy.
The course is designed to deepen students’ knowledge in theoretical and empirical macroeconomics. We will develop the modern theories of the determination of the level and rate of growth of income. We will discuss the implications of each theory on alternate fiscal and monetary policies seeking to facilitate full employment, economic growth and price stability.
Since Macroeconomics is an empirical discipline, students will be familiarized with the current macroeconomic data and its relevance.
At the end of this course, students will

Understand the role of Macroeconomics and macroeconomists in policy making.

Know the mechanics of National Income Accounting and interpret its different components.

Know the underlying concepts and theories between classical and Keynesian
Economics.

Have a solid grounding

Understand the IS-LM framework and derivations of Aggregate Demand and
Aggregate Supply functions.

Understand the relationships between the financial system, the macroeconomy and the conduct of Monetary Policy.

Understand the relationship between exchange rates and macroeconomic variables such as interest rates and inflation in an open economy context.
Lecture
Group discussion x x
Experiential exercise
Case analysis
Simulation
Course paper
Others
Methods
Midterm Exam
Case studies
Class Participation
Assignment and quizzes
Project
Date/deadlines x x
Percentage (%)
25
10
25
Presentation/Group

Discussion
Final Exam
Others
Total
Policy
Date/Day
(tentative)
3
4
5
6
1
2
15.09.14
22.09.14
29.09.14
06.10.14
13.10.14
20.10.14
7
8
9
27.10.14
03.11.14
10.11.14
10 17.11.14
11 24.11.14
12 01.12.14
13 08.12.14
14 15.12.14
15 22.12.14
Tentative Schedule
Topics
Part I Introduction
The Science of Macroeconomics
The Data of Macroeconomics
Part II Classical Theory: The Economy in the Long Run
National Income: Where It Comes From and Where It Goes
No Class, Holiday
Money and Inflation
The Open Economy. Unemployment
Midterm Exam
Part III The Economy in the Very Long Run
Economic Growth I
Economic Growth II
Part IV Business Cycle Theory: The Economy in the Short Run
Introduction to Economic Fluctuations
Aggregate Demand I: Building the IS-LM Model
Aggregate Demand II: Applying the IS-LM Model
Aggregate Demand in the Open Economy: The Mundell-Fleming
Model and the Exchange Rate Regime.
Aggregate Supply and the Short-Run Tradeoff Between Inflation and
Unemployment
Part V Macroeconomic Policy Debates
Stabilization Policy, Government Debt, and Budget Deficits
Final Exam
This syllabus is a guide for the course and any modifications to it will be announced in advance.
Ch. 1
Ch. 2
Ch. 3
Ch. 4
Ch. 5
Ch. 6
Ch. 7
Ch. 8
Ch. 9
Ch. 10
Ch. 11
Ch. 12
Ch. 13
Ch. 15, 16
40
100
Textbook/Assignments