MACROECONOMICS: Theory and Practice

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28 Οκτ 2013 (πριν από 3 χρόνια και 9 μήνες)

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MACROECONOMICS: Theory and Practice


Chapter
2

Basic materials for the study of the chapter:

Class notes

Mankiw: cap. 3.3, 3.4,
4.1, 4.2,

5.1, 5.2, 5.3, 10, 11.1

Blanchard: cap. 3.2, 3.4, 3.5, 4.1,

4.2, 4.3, 4.4

5, 18.1, 19.1, 19.6


For a better understan
ding:

S
-
N, Cap. 22



1.

The goods and services market

1)

Components of aggregate demand

2)

The IS curve

(closed and open economy)

3)

Actual vs planned expenditure

4)

Movements of the IS

5)

A different point of view: investment vs saving


2.

The money market

1)

Money.

a.

Concepts

b.

Qu
antity theory of money

c.

Open market operations

d.

The price of bonds, interest rates, money supply

e.

What banks do

f.

The money multiplier

2)

Supply and demand of money

3)

The LM curve

4)

Movements of the LM


3.

Equilibrium

1)

Equilibrium

2)

About the equilibrium

3)

M
onetary and fisc
al policy


4.

A
ggregate demand

1)

Concept

2)

Economic interpretation

3)

Graphical representation

4)

Mathemati
cal representation


5.

Open economy:
The IS
-
LM model in an open economy

1)

International capital flows, savings and investment

2)

Nominal and real exchange rates.