Macroeconomic Theory and Policy

22C9021

Bachelor

English

5.0

only summer term

Only during summer term

1 semester

This module is typically offered in a co-teaching mode, i.e. lecturers from Germany/Europe and from China work together. This practice is particularly useful, given the differences between European and Chinese macroeconomic policies.

This module creates an understanding of the policy options for the state to influence the short-term, the medium-term and the long-term development of an economy. It helps students to understand both the potential and the limitations of governmental activities. It creates an understanding for the rationality of alternative actions and helps students to develop their own perspective.

1. Measuring a nation's well-being

2. Production and growth

3. Unemployment and the labour market

4. Saving, investment and the financial system

5. The monetary system

6. Open-economy macroeconomics

7. Business cycles

8. Keynesian economics and IS-LM analysis

9. Aggregate demand and aggregate supply

10. The influence of monetary and fiscal policy on aggregate demand

11. The short-run trade-off between inflation and unemployment

12. Supply-side policies

13. International macroeconomic issues (Financial crises, The future of the EU)

The total workload for the module is 150 hours (see also "ECTS credit points and grading").

• Portfolio exam

The portfolio examination consists of:

PFP1: a one-hour written exam (50%) and a written paper (50%)

PFP2: a one-hour written exam (50%) and a presentation (50%)

PFP3: a one-hour written exam (50%) and an oral and written presentation (50%)

Written paper: approx. 2,500-3,200 words

Written exam: in accordance with the valid study regulations

Presentation: approx. 20-40 minutes

Oral and written presentation: approx. 20-40 minutes and approx. 5-10 pages

The requirements are specified in the relevant class.

The module is located in the third year of studies. The knowledge and competences acquired before, in terms of economics and in terms of writing an academic term paper, are important for a successful participation in this class.

Students who have successfully studied this module are able to understand the key macroeconomic issues, both at the national and at the international level. They are able to identify the policy options of governments, central banks and other key players in macroeconomic management.

Students are able to reflect on the importance of the macroeconomic concepts for the management of the Chinese economy.

Because of the discussion of country case studies in class and in particular because of working on case studies or foreign countries when writing their assignment, students reflect and understand the importance of specific contexts and challenges.

Students are able to discuss the applicability of theoretical models for discussing and assessing economic policy decisions.

Students discuss and understand the limits of economic models and the relevance of the specific national context for understanding economic policy decisions.

They are able to understand and reflect on the peculiarities of the Chinese economic policy making.

Especially in the context of writing an assignment, students learn to collect data and facts for a country other then China and understand the different economic policy making challenges.

Students learn that assessing the appropriateness of economic policy decisions needs to be seen within the national context.

Students learn to present verbally macroeconomic policy issues and use the theoretical macroeconomic policy tools for better understanding and finding solutions.

Students understand the important and fundamental issues in the macroeconomic discourse.

Students use appropriate research methods when writing their term paper.

Students learn that interpretation of reality is not independent of the research methods used.

The module builds on and adds to the module "microeconomic theory and practice", which takes place in the preparatory year. In the programme in China, students take a number of classes which cover economic issues. The module builds on these classes and the competences acquired there.

• International Event Management Shanghai (IEMS), B.A.

• Mayer, Peter

• Mayer, Peter

Dr. Ding Yi