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Business Cycles and Stabilization Policy-Period 2
OVERVIEW
CEA CAPA Partner Institution: Vrije Universiteit Amsterdam
Location: Amsterdam, Netherlands
Primary Subject Area: Economics
Instruction in: English
Course Code: E_ME_BCSP
Transcript Source: Partner Institution
Course Details: Level 200
Recommended Semester Credits: 3
Contact Hours: 84
Prerequisites: Basic knowledge of math and statistics, as provided in the academic core of any academic program at the Vrije Universiteit Amsterdam or equivalent.
DESCRIPTION
The course starts with discussing the historical development of macroeconomic theories explaining the origin of business cycles:
- Say's law versus Malthus? gluts;
- The Great Depression and the Keynesian revolution: Keynes, Hicks, Modigliani, Samuelson;
- Business cycle theory: Schumpeter, Austrians, Kuznets;
- Recent financial crises.
Next, the course continues with discussing the roles of different authorities in conducting macroeconomic policies. This part of the course includes the following topics:
- Money: creation, control of the money supply, interest rates, bank reserves, securitization;
- Central banking: Fed, ECB, independence, different targets;
- Stabilizing role of Fiscal policy: automatic stabilizers, crowding out, budget deficits, effectiveness;
- Stabilizing role of Monetary policy: Taylor rules, quantitative easing, liquidity trap, effectiveness;
- The Debt-Driven Crisis: the Micro-explanation to the Great Recession.
The course concludes with discussing recent empirical work on economiccrises and the effects of fiscal and monetary policy. This course is the sequel to the course Development of Macroeconomic Thought and is suggested to be taken together with the course of Structural Policy that runs in parallel.
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.
- Say's law versus Malthus? gluts;
- The Great Depression and the Keynesian revolution: Keynes, Hicks, Modigliani, Samuelson;
- Business cycle theory: Schumpeter, Austrians, Kuznets;
- Recent financial crises.
Next, the course continues with discussing the roles of different authorities in conducting macroeconomic policies. This part of the course includes the following topics:
- Money: creation, control of the money supply, interest rates, bank reserves, securitization;
- Central banking: Fed, ECB, independence, different targets;
- Stabilizing role of Fiscal policy: automatic stabilizers, crowding out, budget deficits, effectiveness;
- Stabilizing role of Monetary policy: Taylor rules, quantitative easing, liquidity trap, effectiveness;
- The Debt-Driven Crisis: the Micro-explanation to the Great Recession.
The course concludes with discussing recent empirical work on economiccrises and the effects of fiscal and monetary policy. This course is the sequel to the course Development of Macroeconomic Thought and is suggested to be taken together with the course of Structural Policy that runs in parallel.
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.
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