ISS-9150 Earth Economics, Macroeconomics and Growth (ECD)
Code
Weight of the course
Period
Course Leader
Lecturer
Teaching Methods
Modes of Assessment
Contact
ISS-9150
1.5 ECTS
TERM 1
Peter van Bergeijk
Peter van Bergeijk
Lecture, Computer Exercises
Attendance: 100%
Marja de Clercq Zubli
Learning objectives
This is a refresher course for those that have not studied macroeconomics, or did so some time ago.
The course features basic concepts and solutions (both elementary maths and graphs), including
basic National Accounting. It does so in the empirical relevant context of the Earth economy
addressing relevant policy topics related to the recent financial and economic crisis.
Course Description
The following topics are covered: the economic process; flows of product and income; intermediate
and final output; valuation in national accounting; final expenditure; operating surplus; primary factor
incomes; domestic product and income; value added; equivalence of concepts; alternative
formulations of the product/income aggregates; domestic versus national; market prices versus factor
cost; gross versus net; national disposable income; current price values versus constant price values.
This remedial course also deals with basic analytical concepts and methods of macroeconomic
analysis in the context of a closed economy (consumption, investment, saving, capital, national
income and production). Using both graphical and mathematical approaches, the standard Solow
growth model and the basic ISLM model that describes product and money markets will be used to
discuss (dis)equilibrium and adjustment processes over the long and short run, respectively.
Indicative readings
Website: http://www.eartheconomics.info
Weblog: http://earth-economics.blogspot.nl
Bergeijk, P.A.G. van (2013) Earth Economics: An Introduction. Cheltenham: Edward Elgar.
Bergeijk, P.A.G. van (2013) ‘Earth Economics: an Introduction to Demand Management’. ISSMedia,
Online Video: http://www.youtube.com/watch?v=NUsiUhIhl_0