Papaioannou Sotiris
Assistant Professor
Field of Expertise:
Applied Macroeconomics
E-mail:
Telephone:
Office Hours:
Monday 11:00-12:00
Tuesday 11:00-13:00
Macroeconomics I, photo: Gerd Altmann
The course introduces students to key topics of macroeconomic theory and policy. After successful completion of the course, students are expected to:
Macroeconomic objectives, macroeconomic models. Short-run equilibrium in the goods market. Equilibrium in the money market. The IS-LM model, multipliers. Effectiveness of fiscal & monetary policy, short-run effects of exogenous shocks. The aggregate demand function. Adjustment of the price level. The labour market, wages & employment. Imperfections in the labour market (mismatch, tax distortions, unions, efficiency wages, labour contracts). General equilibrium, the AD-AS model. Determination of output, employment and the price level. Dynamic adjustment to exogenous shocks and to economic-policy changes. Cases of malfunctioning of the adjustment mechanism (liquidity trap, inelastic investment demand, nominal/real interest rates). The Okun relationship. Expectations, the Phillips curve. Risk premiums in money & capital markets, the extended IS-LM model. Liquidity trap, QE. Oil prices, output & employment.
Lectures (4hours per week) and Tutorials (2hours per week)
|
Activity |
Semester workload |
|
Lectures, 4hours per week |
13X4 = 52 hours |
|
Tutorials, 2hours per week |
13X2 = 26 hours |
|
Reading |
122 hours |
|
Total number of hours for the Course (25 hours of work-load per ECTS credit) |
200 hours (total student work-load) |
The overall course grade is the sum of: a) the final exam grade plus b) 20 percent of a mid-term (optional) exam grade.*
The curriculum, the exercises covered in the tutorials, samples of analytical questions, the assessment method of the course and other relevant material are available on the e-class platform and are accessible to all students.
*The above student-evaluation method is a pilot one and will be re-examined at the end of the academic year 2018-2019.
Use of IT in teaching, and in communication with the students (e-class)
