Seoul, South Korea
Area of Study
Taught In English
Course Level Recommendations
ISA offers course level recommendations in an effort to facilitate the determination of course levels by credential evaluators.We advice each institution to have their own credentials evaluator make the final decision regrading course levels.
Recommended U.S. Semester Credits3
Recommended U.S. Quarter Units4
Hours & Credits
In this course we will study in depth the macroeconomics concepts covered in introductory courses, so a good command of the basics will be a requirement for the course. The course will also expand on other theories not considered in introductory courses. This course follows nicely from Introduction to Macroeconomics ISC 203 summer course.
This course follows a modern approach, linking theory with reality. It is expected that the students passing the course would have a good understanding about, amongst others, economic growth, consumption theory, business cycles, the impact of fiscal and monetary policy, etc.
It is expected that the students have a good command of basic calculus, algebra and derivations. However, maths will be used as a tool to understand the concepts and not and end by itself. It is expected that students’ answers in the exams are comprehensive and full, and not only equations.
Text books: Please note that you will have to purchase in advance as the campus will not be selling the books.
- Essential: Mishkin: Macroeconomics: Policy and Practice, 2nd edition (1st edition is also valid)
- Other readings: O. Blanchard, A. Amighini and F. Giavazzi, Macroeconomics a European perspective. (Note that the international version is also valid)
Schedule (Subject to Revision):
- Aggregate production
- Savings and investment
- Consumption theory
- Investment theory
- Labour markets
- Money and inflation
- Solow growth model
- Drivers of growth
- Midterm exam
- IS curve
- Aggregate demand
- Aggregate supply
- Macroeconomic policy
- Financial system
- Fiscal policy
- International policy
- Final exam
Courses and course hours of instruction are subject to change.