Development of Macroeconomic Thought
Vrije Universiteit Amsterdam
Amsterdam, The Netherlands
Area of Study
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.
Recommended U.S. Semester Credits3
Recommended U.S. Quarter Units4
Hours & Credits
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
TYPE OF ASSESSMENT
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
Courses and course hours of instruction are subject to change.
Some courses may require additional fees.