Upon successful completion of the course, students will be able to:
1. understand and assess the impact of monetary and fiscal policy
2. understand how an open economy works
3. understand the concept of Growth and its drivers
Course Content (Syllabus)
The course contain three parts: the first part is presented the role of money and financial markets to macroeconomic equilibrium. More specifically examined the money and its functions , how is the money , the central bank, objectives and tools of monetary policy transmission mechanisms . The IS-LM model in a closed and open economy presented . In second place comes the labor market analysis to determine the "full employment" in the context of classical theory and the " under-employment " in the context of Keynesian macroeconomic equilibrium at the base of the model of aggregate demand - aggregate supply (AD-AS) . The third part shows the effectiveness of macroeconomic policy , inflation , and economic policy unemployment (curve Phillips) and finally the role of expectations ( as updated and rational ) the effectiveness of macroeconomic policy . In this context , we studied the relationship of inflation - unemployment relationship between inflation , activity and money supply , expectations , financial markets and exchange rates , and the question of the effectiveness of monetary and fiscal policy . Finally, a reference to the problems of macroeconomic policies in the euro area : the issue of monetary governance and public finances in the EU
Course Bibliography (Eudoxus)
Βιβλιογραφία μαθήματος (Εύδοξος)
1. Μ. Σιδηρόπουλος, Μακροοικονομική Ανάλυση: Θεωρία, Ασκήσεις, Εφαρμογές, εκδ. Ζυγός, Θεσσαλονίκη 2008. Κωδικός Βιβλίου στον ΕΥΔΟΞΟ: 8013.
2. G. Mankiw, Μακροοικονομική, εκδ. Γ. Δαρδανός – Κ. Δαρδανός, Αθήνα 2019.
3. M. Burda, C. Wyplosz, Ευρωπαϊκή Οικονομική - Ενιαίο, εκδ. Guten-berg, Αθήνα 2010. Κωδικός Βιβλίου στον ΕΥΔΟΞΟ: 32194.
4. Ο. Blanchard, Μακροοικονομική, εκδ. Επίκεντρο, Θεσσαλονίκη 2012. Κωδικός Βιβλίου στον ΕΥΔΟΞΟ: 22686216.