[ 572K2BVWKWK15 ] KS Growth, Cycles and Economic Policy

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Workload Education level Study areas Responsible person Hours per week Coordinating university
3 ECTS B1 - Bachelor's programme 1. year Economics Rainer Bartel 2 hpw Johannes Kepler University Linz
Detailed information
Pre-requisites (*)KS Einkommen, Beschäftigung und Finanzmärkte
Original study plan Bachelor's programme Business and Economics 2021W
Objectives In analysing expansion and recession, wage and price setting, grwoth, unemployment and inflation, students gain insight into cyclicality. They deepen their knowledge using an extended IS-LM model and discover the relationships between the international financial and economic crisis and challenges to economic policy. Knowledge of financial markets is increased in looking closer at bond and equity markets, enhanced by a perspective of imperfect financial markets and probably even Modern Monetary Theory and exchange rate regimes. Students are digging deeper into concepts of public finances and fiscal policy. In general, the importance of expectations for the economic development and of expectations-modelling for policy-making will be recognised. From the Solow Growth Model and the New Macroeconomic Growth Theory conlusions are drawn for growth policy. On thesese premises, questions concerning business cycles, growth and policy-making can be tackled on a sound basis.
Subject Okun and Phillips Relations. Wage and price setting, wage-setting equilibrium and full employment. IS-LM Model including inflation, real interest rate and limits to monetary policy-making. Financial markets analysis (perfect and impefect markets). Financial and economic crisis. Modern Monetary Theory. Exchange rate regimes. Public Finances and fiscal policy. Economic grwoth and growth policy.
Criteria for evaluation Two written tests (single choice), one of which is mandatory (the better result counts) Bonus points for well-formed, perceptive oral contributions in class
Methods Lecturing, questions, discussions and non-committal short tests
Language German
Study material Blanchard, Olivier / Illing, Gerhard (2017), Makroökonomie, 7. Auflage, Pearson-Verlag, Hallbergmoos,
Changing subject? No
Further information (*)Der Kurs wird durch Tutor_inn_en unterstützt. Im Fach Angewandte Ökonomie besteht eine Wahlmöglichkeit zwischen diesem Kurs und dem KS Balance of Payments and Exchange Rates. Wählbar ist aber nur jener Kurs, der nicht bereits im Rahmen der Kernkompetenzen II / Block B aus VWL absolviert wurde.
Earlier variants They also cover the requirements of the curriculum (from - to)
2AECWKWK: KS Growth, Cycles and Economic Policy (2009W-2015S)
On-site course
Maximum number of participants 200
Assignment procedure Assignment according to priority