Admission requirements
Required course(s):
Principles of Economics OR Entrepreneurs and Markets
Recommended course(s):
Quantitative Research Methods OR Calculus, Microeconomics OR Applied Microeconomic Thinking and Analysis
Description
Macroeconomists use the core economic principles of scarcity, choice and supply and demand to study how economic systems at the aggregate level behave. Macroeconomics is concerned both with the short run – the analysis of business cycles, unemployment, and inflation – as well as the long run – the study of growth and development.
This course serves as a rigorous introduction to modern macroeconomics. We will emphasize a unity of theory with microeconomics and will focus on applying simple general equilibrium models to important macroeconomic topics such as the labor market, inflation, and long-run growth. By working with a unified set of models, students will learn to apply these models consistently and identify under what circumstances features of the model need to be tweaked or expanded to match real-world experience.
While the emphasis is on a core set of theoretical models, we will continually emphasize the links with empirics, and identify how well our simple models hold up both in class discussion, in group presentations, and during the lectures themselves.
Course Objectives
Upon completion of this course, students will be able to:
Define and apply core macroeconomic variables such as GDP, growth, interest rates, inflation and unemployment
Use basic economic theory to study how the macroeconomy as a system operates in the short run and long run
Critically apply core macroeconomic models to real-world questions
Timetable
Timetables for courses offered at Leiden University College in 2025-2026 will be published on this page of the e-Prospectus.
Mode of instruction
The first meeting of each week is dedicated to an interactive lecture, where the core model is applied to that week’s topic. In the second meeting, we discuss that week’s readings and the weekly exercise. In the final week, there will be student presentations where they present results from applying the theoretical and empirical framework to a policy issue of their choice. The course finishes with a final exam.
Assessment Method
Group Presentation: 15%
Weekly Assignments: 35%
Final Exam : 40%
Class participation: 10%
Reading list
No required textbook. Instead, lecture notes will be made available, as well as supporting readings for the weekly discussions.
Registration
Courses offered at Leiden University College (LUC) are usually only open to LUC students and LUC exchange students. Leiden University students who participate in one of the university’s Honours tracks or programmes may register for one LUC course, if availability permits. Registration is coordinated by the Education Coordinator, course.administration@luc.leidenuniv.nl.
Contact
Dr. Simon Toussaint, s.j.toussaint@law.leidenuniv.nl
Remarks
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