Development of Macroeconomic Thought

Vrije Universiteit Amsterdam

Course Description

  • Course Name

    Development of Macroeconomic Thought

  • Host University

    Vrije Universiteit Amsterdam

  • Location

    Amsterdam, The Netherlands

  • Area of Study


  • 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

  • ECTS Credits

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

    The objective of this course is to introduce core concepts and theories of modern macroeconomic analysis including their development within the economic and social context of the past centuries.

    Specific learning outcomes upon completion of this course are:
    - students know of and understand macroeconomic theories about growth, inequality and unemployment within their historical contexts;
    - students know of core macroeconomic concepts, including national accounts and other frequently used aggregates
    - students are familiar with recent empirical macroeconomic work on growth, inequality and unemployment.

    Macroeconomics is about the behavior of economic aggregates, i.e., variables that capture the development and change of the entire economy over time. The course starts with discussing the historical development of macroeconomic theories about growth, inequality and unemployment

    Next the course proceeds with the introduction of core macroeconomic concepts and theories including illustrations from recent empirical macroeconomic work on growth, inequality and unemployment:

    • Circular flows and national accounts;
    • Aggregate incomes and inequality;
    • Growth accounting: labor productivity, technological progress, human capital, Solow model;
    • Institutions and economic development;
    • Unemployment: measurement, types, costs of unemployment, wage rigidity.

    Lectures and tutorials

    Grade is average of problem sets (30 %) and written examination (70%), with written exam grade of at least 5.0.

    Basic knowledge of math and statistics, as provided in the academic core of any academic program at the Vrije Universiteit Amsterdam or equivalent

Course Disclaimer

Courses and course hours of instruction are subject to change.

Some courses may require additional fees.


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