Advanced Macroeconomics

ISA Seville Study Center

Course Description

  • Course Name

    Advanced Macroeconomics

    Course Closed
  • Host University

    ISA Seville Study Center

  • Location

    Seville, Spain

  • Area of Study

    Economics, International Economics

  • Language Level

    Taught In English

  • Course Level Recommendations


    ISA offers course level recommendations in an effort to facilitate the determination of course levels by credential evaluators.We advice each institution to have their own credentials evaluator make the final decision regrading course levels.

    Hours & Credits

  • Contact Hours

  • Recommended U.S. Semester Credits
  • Recommended U.S. Quarter Units
  • Overview

    USF Course Code: ECS 4003

    Prerequisite: none; taught in English.

    Students: ISA students 

    Contact hours: 45

    I. Course Objective:
    The 20-21th Centuries can be described as a period of rapid and sometimes revolutionary developments in several areas of the social world, especially in the economic sphere, which can be traced back to the industrial revolution. Regarding the economic systems, it is possible to differentiate between the changes in ideas (theoretical) from the changes at the practical level (reality). This course will analyze the main economic systems, taking into consideration their historical background and theoretical underpinning, along with how they function in the real world and how they differ/interact with one another. Developing nations and the impact of BRICs countries in the world economy will be also researched.

    II. Learning Outcomes: 
    •    identify the characteristics of capitalism, planned socialism, and market socialism, along with associated theories and ideologies. Then use theories and concepts to analyze and understand current events 
    •    assess the performance of the economic systems
    •    study and monitor leading examples of each system 
    •    learn the major tasks associated with the transition from planned or market socialism to capitalism
    •    study the experience of transition, using real world case studies including Russia, China, and central Europe
    •    gain a better understanding of capitalism, our own system
    •    develop an informed opinion about economic crises, turmoil and bubbles to explain what went wrong and to present what could be done differently  
    •    explain how countries develop and relate development theory to the diverse evolution of the so called “rising economies” 

        This course is designed to combine lectures with in-class group exercises and case discussion. Students will learn how to react to situations that multinational firms face in their international operations.  On occasion, videos will be used to augment the lecture and stimulate class discussion.

                   The means to attain these objectives include a thorough study of class notes, case analysis, and in-class small group discussions. Material for quizzes and examinations will be from lectures, cases, and group discussions.

    III. Contents (order of content may be modified):

    •    Economics the business of life
    •    The economic problem: Scarcity and choice
    •    Opportunity cost
    •    Capital goods and consumer goods
    •    The production posibilities frontier
    •    Command economies
    •    Laissez faire economies: The free market
    •    Mixed systems: Markets and governments
    •    Macroeconomics vs microeconomics
    •    Development of macroeconomics
    •    Objectives and instruments of macroeconomic policy
    o    Fiscal policy
    o    Monetary policy
    o    International trade policy
    o    Exchange rate policy
    •    GDP
    •    Inlfation
    •    Interest rates
    •    Employment
    •    The financial system and the business cycle
    •    Long run economic growth
    •    Savings and investment
    •    The business cycle
    •    Classical and Keynesian tradition
    •    Moneratism
    •    New classical macroeconomics
    o    Rational expectations
    •    Supply side economics
    •    Behavioural economics

    •    Socialism vs capitalism
    •    Historical background
    •    Marx theory of value
    •    Marx theory of surplus
    •    Communist society
    •    Balance of payments accounting
    •    The J curve effect
    •    Balance of payments trends in major countries
    •    Theory of absolute advantage
    •    Theory of competitive advantage
    •    Hecksher-Ohlin theory
    •    Imitation gap theory
    •    International product life cycle
    •    The Solow-Swan neoclassical growth model
    •    The international monetary fund
    •    The world bank
    •    The world trade organization
    •    The criticism of international institutions
    •    Differential experiences of development
    •    Theories of development
    o    Dependency theory
    o    Modernization theory
    •    Changing approaches to development

    IV. Course Material:

    Required material:  Principles of Macroeconomics, plus MyEconLab with Pearson e-text, Global Edition 11/E.
    Every student will purchase a personal code for access to the online platform from where all the course management (e-text, assignments, reviews, activities, etc.) will take place.

    The online learning platform is a mandatory tool to pass this course.
    Text book, homework, assignment, tasks are in the platform.
    The individual performance appraisal will be carried out through the work every student does in the platform. 

    Very important notice: The code is personal and not transferable, once you purchase the code this cannot be neither returned, nor refunded. Unless you are 100% sure you are going to take the Comparative Economics class do not buy it. In case of any doubt contact your host Academic Coordinator.

    Please note that Administration Department at ISA Study Center can not take payments by card. 

    V.I. How to succeed in this course
    To successfully complete this course, attendance is essential as enables the necessary participation. Both spontaneous and prepared interaction are categories used in the evaluation.
    Due to the variety of topics covered in this course, come prepared. Listening to lectures, watching videos and participating in class activities and discussions is much more effective than reading someone else’s notes or watching a video later. Remember that active and meaningful participation is taken into account as part of the evaluation. Reading prior to the class sessions is essential to keep track of the course due to all the material that will be covered and the pace. 
    Becoming an active learner is one of the best ways to finish successfully this course: come always prepared to class: use the syllabus to be aware about will be covered or due in class, do all assignments before class, review before the class and be organized. 

    VI. Grading scale
    Final grades will be calculated according to the following scale:

    Matrícula de Honor = 10
    Sobresaliente = 9 – 9,9
    Notable = 7 – 8,9 
    Aprobado = 5 – 6,9
    Suspenso = 0 – 4,9
    No presentado = Student attended class but did not complete the exams
    No asistencia = Student exceeded the maximum number of allowed absences

    Please find as a reference the following grading scale conversion. However, it is ultimately the responsibility of the student’s home university or institution to determine the final grade equivalencies. 
    Matrícula de Honor = A+                                      
    Sobresaliente = A                                                    
    Notable = B                                                             
    Aprobado =C  
    Suspenso = F
    No presentado = Incomplete (attended classes but did not take the final exam)            
    No Asistencia = Incomplete (enrolled in the course but did not attend class)

    Grade dispute: 
    The deadline for claiming grades is 30 days from the receipt of the certificate at the university of origin.

    VII. Course policies

    VII.I. Attendance
    Class attendance is mandatory and is taken every class day and reflected in the course attendance sheet. 
    An 85% attendance rate is required for the successful completion of the course. Perfect attendance will be taken positively into account in the participation section. 
    If a student exceeds this limit, 1 point will be taken off of the final grade (Spanish grade). Reaching a 20% of unexcused absences means that the transcript for this subject will show “not attended course”. 
    Excused absences: Medical Certificates that will be considered only if issued by a physician (not notes from the family explaining the student’s absence). The certificates must include the exact dates for which a student should be excused for having missed classes. Courses cannot be audited, so attendance is possible only for students enrolled in a specific class. 
    Punctuality: Students are expected to arrive on time to class and to return directly to class after class breaks. Arriving 10 minutes late (or more) and/or early class departures are considered unexcused absences and will be taken into account as half an absence. 
    Attending class is not only the presence in the classroom. The professor will encourage active participation in the course and it will be taken into account as part of the evaluation.  

    Auditors: Courses cannot be taken as auditors, thus attendance is possible only for students enrolled in a specific class.

    VII.II. Conduct in class
    Students who actively participate in classroom activities and who maintain a professional and respectful attitude will be evaluated positively. Students must not eat or use laptops during the class (unless specifically authorized by the teacher).  

    VII.III. Late work 
    One half point will be taken off (from the learning activities grade) for homework that is submitted late repeatedly. Late assignments will be corrected but will not be graded. 
    Missing a class does not release the student from completing the homework assigned or studying the topics covered in class that day.

    VII.IV. Make-up Exams
    If a student cannot be present for an examination for a valid reason (see V.II.) and approved by the professor and academic direction, a make-up exam will be given.

    VII.V. Exam retention
    After exams are graded, the teacher will review the examination with the class and collect all exams. The exams will be retained for one semester following the current one, and then they will be destroyed.

    VII.VI. Academic Honesty
    Students are expected to act in accordance with their university standards of conduct concerning plagiarism and academic dishonesty.

    VII.VII. Special accommodations 
    Students with special needs who require reasonable accommodations, special assistance or specific aid in this course (either for properly making-up classes, taking exams, etc.) should direct their request to Academic Coordination during the first days of the course.

    Teaching staff is required to report any disclosures harassment or violence of any kind.

Course Disclaimer

Courses and course hours of instruction are subject to change.

Eligibility for courses may be subject to a placement exam and/or pre-requisites.

Availability of courses is based on enrollment numbers. All students should seek pre-approval for alternate courses in the event of last minute class cancellations


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