363-0565-00L  Principles of Macroeconomics

SemesterAutumn Semester 2022
LecturersJ.‑E. Sturm
Periodicityyearly recurring course
Language of instructionEnglish

AbstractThis 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?
ObjectiveThis lecture will introduce the fundamentals of macroeconomic theory and explain their relevance to every-day economic problems.
ContentThis 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.
Lecture notesThe course webpage (to be found at https://moodle-app2.let.ethz.ch/course/view.php?id=17628) contains announcements, course information and lecture slides.
LiteratureThe 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.
Fostered competenciesFostered competencies
Subject-specific CompetenciesConcepts and Theoriesassessed
Techniques and Technologiesnot assessed
Method-specific CompetenciesAnalytical Competenciesassessed
Decision-makingnot assessed
Media and Digital Technologiesnot assessed
Project Managementnot assessed
Social CompetenciesCommunicationnot assessed
Cooperation and Teamworknot assessed
Customer Orientationnot assessed
Leadership and Responsibilitynot assessed
Self-presentation and Social Influence assessed
Sensitivity to Diversitynot assessed
Negotiationnot assessed
Personal CompetenciesAdaptability and Flexibilitynot assessed
Creative Thinkingnot assessed
Critical Thinkingassessed
Integrity and Work Ethicsnot assessed
Self-awareness and Self-reflection not assessed
Self-direction and Self-management not assessed