Admission requirements
There are no admisssion requirements.
Description
This course provides an introduction to macroeconomics. Macroeconomics is about the aggregate economy and studies variables like the growth rate of the economy, the inflation rate and the unemployment rate. Crucially, it is about the design of fiscal and monetary policy. The course first discusses short-term macroeconomics like the trade-off between inflation and unemployment. It then analyzes long-term issues like the causes of economic development. Finally, it applies the tools of macroeconomics to currently pressing issues like inequality and sustainability.
The course answers the following questions:
What should governments and central banks do in recessions and booms (fiscal policy)?
How do policymakers balance inflation and unemployment?
Why are some countries rich and some countries poor?
What drives economic growth in the long run?
Can the economy grow in a sustainable way?
Course objectives
The goal of this course is to teach students the main tools of macroeconomic thinking. The course provides students with an understanding of the ways in which governments and central banks make decisions that influence the economy.
After completing the course, students can
Understand and explain the main concepts in macroeconomics.
Apply macroeconomic reasoning to analyse the effects of fiscal and monetary policy on, for example, economic growth, unemployment and inflation.
Write a note or give a presentation, in collaboration with other students, to give simple policy advice on how to use macroeconomic policies to address issues like growing inequality and climate change.
Timetable
See MyTimetable.
Mode of instruction
Lectures
Number of (2 hour) lectures: 7
Names of lecturers: Rik Rozendaal
Required preparation by students: Students are required to read the mandatory literature and to prepare the mandatory exercises. There is time for discussion and debate during both lectures and tutorials.
Seminars
Number of (2 hour) seminars: 7
Names of lecturers: Rik Rozendaal
Required preparation by students: Students are required to read the mandatory literature and to prepare the mandatory exercises. There is time for discussion and debate during both lectures and tutorials.
Other
Assessment method
Examination form(s)
Written exam (70%)
Group assignment (30%)
The written exam covers the literature discussed in the course as well as the content of all lectures and tutorials. The assignment is about providing a piece of policy advice to a government or central bank to tackle a macroeconomic issue. It will be either in the form of a written paper or a presentation (tbd).
The written exam needs to be completed with a score of 5.5 or higher. The grade for the assignment can be compensated. A resit will be available for both the final exam and the assignment. The assignment grade cannot be carried over to the next year in case a student repeats the course.
Reading list
Obligatory course materials
The Economy 2.0 – Macroeconomics. Online book available for free.
Registration
Registration for courses and exams takes place via MyStudymap. If you do not have access to MyStudymap (guest students), look here (under the Law-tab) for more information on the registration procedure in your situation.
Contact
Coordinator: dr. R.L. Rozendaal
Work address: Kamerlingh Onnes Building, Leiden
Institution/division
Institute: • Institute of Tax Law and Economics
Department: Economics
Room number secretary: KOG B2.07
Opening hours: 09.00 - 12.00 AM
Telephone number secretary: 071-5277756
Email: economie@law.leidenuniv.nl