Content

The course starts with a short introduction and an overview of some key indicators such as GDP.

After this introduction we discuss the macro-economy in the long term. In the first part regarding the long term, we treat the real economy. We study the determinants of economic growth and unemployment. In the second part we study the financial market and money market, with topics such as the role of central banks and the costs of inflation.

In the last part, we look at the economy in the short term. More specifically, we analyze the determinants of short-term fluctuations around the long-term trend. We discuss among others the the IS-LM modle, aggregate demand and supply, and the impact of monetary and fiscal policies on macroeconomic demand.

Structure of the course:

Part I: Introduction

Part II: The data of Macroeconomics

Part III: The real economy in the long run

Part IV: Long-run macroeconomics

Part V: Short-run economic fluctuations

Course material

Compulsory study material:

• Handbook:
  • G. Mankiw en M. Taylor, 2023, Macroeconomics: sixth revised edition, Cengage Learning. ISBN: 9781473786998
  • There are a number of alternative options for this handbook:
    • G. Mankiw and M. Taylor, 2023, Economics: Sixth revised edition, Cengage Learning
    • Ebook version of handbook (see publisher): https://www.cengage.uk/c/macroeconomics-6e-mankiw-taylor/9781473786998/5
    • 5th, 4th or 3rd edition of the Mankiw and Taylor handbooks. While there are some differences with the 6th edition (e.g. practical illustrations), they are relatively small and not essential. There are also some differences in the numbering of the chapters and the exercises, and some chapters have also been merged from the 5th edition onwards. However, besides making the 4th or 3rd edition a bit less less user-friendly in the context of my lectures (eg when I refer to a certain page in the handbook), this renumbering does not really affect the content. 
• Video lectures posted on Toledo
• Other material posted on Toledo (slides, additional exercises,....)
• Lecture notes to be taken by the students during the lectures.

Format: more information

Class recording - Flipped classroom - Practice session - Traditional lecture

This course relies on a combination of video and on-campus lectures. Usually, it is mandatory to process learning material (e.g. videos) beforhand to attend the on-campus lectures.