1. komponenta

Lecture type	Total
Lectures	45

* Load is given in academic hour (1 academic hour = 45 minutes)

COURSE AIMS AND OBJECTIVES:
To enable students to understand macroeconomic phenomena by studying the structure and effects of national economies and the policies governments use to influence economic characteristics. Therefore, answers must be provided to fundamental macroeconomic questions: what determines the long-term economic growth of a nation, why some economies grow rapidly and strongly, rapidly improving the living standards of their population, what causes fluctuations in the economic activity of a nation, what causes unemployment, what causes price growth, what role the financial system plays, and how membership in the global economic system and economic integrations affect the national economy. Analytical tools and formal models are used for this purpose, allowing the prediction the behavoir of economic activity. The teaching approach employs an integrated approach to macroeconomics, focusing on an aggregate macroeconomic model based on the implications of equilibrium conditions in three market groups: the goods market, financial markets, and the labor market.

SYLLABUS:
1. Circular flow of economic activity. National accounts.
2. Goods market. Financial markets.
3. IS-LM model.
4. Extended IS-LM model.
5. Labor market. Phillips curve.
6. IS-LM-PC model.
7. Expectations.
8. Openness in goods and financial markets. Goods market in an open economy.
9. Output, interest rates, and exchange rates. Exchange rate regimes.
10. Fiscal policy. Public debt sustainability. Fiscal policy in the Eurozone.
11. Monetary policy. New Keynesian model of monetary policy.
12. Monetary regimes and financial markets in the European Union.
13. Economic growth.

1. Macroeconomics - A European Perspective, 4th Edition, Blanchard, O., Amighini, A. & Giavazzi, F., Pearson, 2021.
2. Makroekonomija, 5 dopunjeno izdanje (prijevod djela), Blanchard, O., MATE, 2011.
3. Economic Policy Theory and Practice, Agnes Bénassy-Quéré, Benoît Coeuré, Pierre Jacquet, and Jean Pisani-Ferry, Oxford University Press, 2018.
4. Economics of monetary union, 13rd edition, Paul De Grauwe, Oxford University Press, 2020.
5. Macroeconomics, 10th Global Edition, Andrew B. Abel, Ben S. Bernanke & Dean Croushore, Pearson, 2021.
6. An Introduction to computational macroeconomics, Anelí Bongers, Trinidad Gómez, José Luis Torres Chacon, Vernon Press, 2019.

Mandatory course - Regular study - Financial and Business Mathematics