Foundations of Macroeconomics - Period 1

Macroeconomics is about the behavior of economic aggregates, i.e., variables that capture the development and change of the entire economy over time. The course starts with discussing the historical development of macroeconomic theories about growth, inequality and unemployment. Next the course proceeds with the introduction of core macroeconomic concepts and theories including illustrations from recent empirical macroeconomic work on growth, inequality and unemployment:
- circular flows and national accounts;
- aggregate incomes and inequality;
- growth accounting: labor productivity, technological progress, human capital, Solow model;
- institutions and economic development;
- unemployment: measurement, types, costs of unemployment, wage rigidity.

Contact hours listed under a course description may vary due to the combination of lecture-based and independent work required for each course therefore, CEA's recommended credits are based on the ECTS credits assigned by VU Amsterdam. 1 ECTS equals 28 contact hours assigned by VU Amsterdam.