Optional in stage
First term
Second term
Both terms
Not organised
This year
Next year
Alternating years
External
Prerequisites
Taught by
Language of instruction
Duration
Identical coursesMacroeconomics (B-KUL-D0R71A)
Aims
Upon completion of this course, the student is able to:
- describe and explain macroeconomic developments
- analyse macroeconomic problems within the context of an appropriate model
- make policy recommendations in response to such problems
- participate in macroeconomic discussions in a qualified manner
Previous knowledge
Basic knowledge of economics is required (e.g. S0A25A Economie/D0N62A Economie).
Is included in these courses of study
- Voorbereidingsprogramma: master in de toegepaste economische wetenschappen / Master of Business Economics (Leuven) 61 ects.
- Master in de bio-ingenieurswetenschappen: landbouwkunde (Leuven) (Major bio-economie en beleid) 120 ects.
- Master in het management (Programma voor studenten gestart vóór 2022-2023) (Leuven) 60 ects.
- Voorbereidingsprogramma: Educatieve master in de economie (Leuven) 45 ects.
- Voorbereidingsprogramma: Educatieve master in de economie (Antwerpen) 45 ects.
- Voorbereidingsprogramma: Educatieve master in de economie (Brussel) 45 ects.
- Voorbereidingsprogramma: Educatieve master in de economie (Kortrijk) 45 ects.
- Master in het management (Programma voor studenten gestart in 2022-2023 of later) (Leuven) 60 ects.
- Voorbereidingsprogramma: Master handelsingenieur / Master of Business Engineering (Leuven) 99 ects.
- Voorbereidingsprogramma: Master handelsingenieur in de beleidsinformatica / Master of Business and Information Systems Engineering (Leuven) 111 ects.
Activities
4 ects. Macroeconomics (B-KUL-D0R71a)
Content
THE SHORT RUN
- Basic concepts
- The goods market
- Financial markets
- Goods and financial markets: IS-LM model
- IS-LM model in an open economy
- Output, the interest rate and the real exchange rate
THE MEDIUM RUN
- The labour market
- Putting all markets together: AS-AD model
- The Phillips Curve, the natural rate of unemployment and inflation
- Inflation, money growth and the real rate of interest
THE LONG RUN
- Saving, capital accumulation and output
- Technological progress and growth
EXTENSIONS (time permitting)
- Saving, capital accumulation and output
- Technological progress and growth
- The crisis
- High debt
Course material
Used course material:
- Olivier Blanchard, Francesco Giavazzi, Alessia Amighini, 'Macroeconomics: A European Perspective', Pearson Prentice Hall.
- Additional material via TOLEDO.
Toledo is being used for this learning activity.
Format: more information
Weekly lectures, optional homework assignments and optional mock exam on Toledo.
Is also included in other courses
Evaluation
Evaluation: Macroeconomics (B-KUL-D2R71a)
Explanation
Features of the evaluation
Closed book.
Thirty multiple-choice questions (1 point for a correct, -1/3 point for a wrong and 0 points for a blank answer).
No calculator allowed.
Formulas are provided.
Determination of final grades
The exam is assessed by the titular, as announced via Toledo and the exam schedule. The result is calculated and expressed with a whole number on 20.
Second examination opportunity
The features of the evaluation and determination of grades are similar to those of the first examination opportunity, as described above.