|Prof. Dr. Jan-Egbert Sturm
Professur f. Wirtschaftsforschung
ETH Zürich, LEE G 305
|+41 44 632 50 01
|Management, Technology, and Economics
|Principles of Macroeconomics
|This course examines the behaviour of macroeconomic variables, such as gross domestic product, unemployment and inflation rates. It tries to answer questions like: How can we explain fluctuations of national economic activity? What can economic policy do against unemployment and inflation?
|This lecture will introduce the fundamentals of macroeconomic theory and explain their relevance to every-day economic problems.
|This course helps you understand the world in which you live. There are many questions about the macroeconomy that might spark your curiosity. Why are living standards so meagre in many African countries? Why do some countries have high rates of inflation while others have stable prices? Why have some European countries adopted a common currency? These are just a few of the questions that this course will help you answer.
Furthermore, this course will give you a better understanding of the potential and limits of economic policy. As a voter, you help choose the policies that guide the allocation of society's resources. When deciding which policies to support, you may find yourself asking various questions about economics. What are the burdens associated with alternative forms of taxation? What are the effects of free trade with other countries? How does the government budget deficit affect the economy? These and similar questions are always on the minds of policy makers.
|The course webpage (to be found at https://moodle-app2.let.ethz.ch/course/view.php?id=17628) contains announcements, course information and lecture slides.
|The set-up of the course will closely follow the book of
N. Gregory Mankiw and Mark P. Taylor (2020), Economics, Cengage Learning, Fifth Edition.
This book can also be used for the course '363-0503-00L Principles of Microeconomics' (Filippini).
Besides this textbook, the slides, lecture notes and problem sets will cover the content of the lecture and the exam questions.
|J.‑E. Sturm, A. Rathke
|The main aim of this course is to analyse the goals of monetary policy and to review the instruments available to central banks in order to pursue these goals. It will focus on the transmission mechanisms of monetary policy and the differences between monetary policy rules and discretionary policy. It will also make connections between theoretical economic concepts and current real world issues.
|This lecture will introduce the fundamentals of monetary economics and explain the working and impact of monetary policy. The main aim of this course is to describe and analyze the goals of monetary policy and to review the instruments available to central banks in order to pursue these goals. It will focus on the transmission mechanisms of monetary policy, the effectiveness of monetary policy actions, the differences between monetary policy rules and discretionary policy, as well as in institutional issues concerning central banks, transparency of monetary authorities and monetary policy in a monetary union framework. Moreover, we discuss the implementation of monetary policy in practice and the design of optimal policy.
|For the functioning of today’s economy, central banks and their policies play an important role. Monetary policy is the policy adopted by the monetary authority of a country, the central bank. The central bank controls either the interest rate payable on very short-term borrowing or the money supply, often targeting inflation or the interest rate to ensure price stability and general trust in the currency. This monetary policy course looks into today’s major questions related to policies of central banks. It provides insights into the monetary policy process using core economic principles and real-world examples.
|The course webpage (to be found at https://moodle-app2.let.ethz.ch/course/view.php?id=17629) contains announcements, course information and lecture slides.
|The course will be based on chapters of:
Mishkin, Frederic S. (2018), The Economics of Money, Banking and Financial Markets, 12th edition, Pearson. ISBN 9780134733821
|Prerequisites / Notice
|Basic knowledge in international economics and a good background in macroeconomics.
|KOF-ETH-UZH International Economic Policy Seminar (University of Zurich)
No enrolment to this course at ETH Zurich. Book the corresponding module directly at UZH as an incoming student.
UZH Module Code: 03SMDOEC1028
Mind the enrolment deadlines at UZH:
|P. Egger, J.‑E. Sturm, University lecturers
|In this seminar series, which is held jointly with Prof. Dr. Woitek and Prof. Dr. Hoffman from the University of Zurich, distinguished international researchers present their current research related to international economic policy. The participating doctoral students are expected to attend the presentations (bi-weekly). Moreover, a critical review has to be prepared for 1 of the papers presented
|On the one hand, participating students are exposed to research at the frontier of international economic policy research. On the other hand, skills such as critical thinking and preparing reviews are learned.
|Economic Foundations for Policy Analysis
Only for CAS in Technology and Public Policy: Impact Analysis and MAS in Technology and Public Policy
|T. Schmidt, J.‑E. Sturm
|Markets play an important function in modern societies by allocating resources and capital. Yet, important market failures require the intervention of public policy. This module introduces the fundamentals of micro- and macro-economics and thereby lays the foundation for the economic assessment of policy interventions.
|How Markets Function (Microeconomics):
Participants (1) understand basic principles, problems and approaches in microeconomics, (2) can analyse and explain simple economic principles in a market using supply and demand graphs, (3) can contrast different market structures and describe firm and consumer behaviour, (4) can identify market failures such as externalities related to market activities and illustrate how these affect the economy as a whole, (5) can address utility maximization and cost minimization problems.
How Economic Systems Function (Macroeconomics):
Participants understand (1) the behaviour of macroeconomic variables, such as gross domestic product, unemployment and inflation rates, (2) why national economic activity fluctuates, (3) what economic policy can do against unemployment and inflation, (4) what significance international economic relations have for specific countries, such as Switzerland.
|Course materials can be found on Moodle.